One of the choices for raising some serious extra money is the rental of your home or part of it. During the hard hitting recession 2008/9 and on, (from which we are still feeling the result), this form of additional cash was a lifeline to many and and has grown to serve millions of people globally.
Today, I am reviewing Airbnb because I’ve been impressed at how it has been a lifesaver for a family member of mine. ( The Journal in Ireland reported 52 million euros earned by Airbnb hosts in 2017 – just to prove the impact!)
Hosting people gave her a new direction and she has excelled at it. She didn’t even need to leave home! She was even able of come off welfare benefit and now works full time as an Airbnb host!
The Extra Money Model
Airbnb has a straightforward , simple model:
- Sign-up online with your property/room
- Add your property details with photos
- Show your availibilty for guests and launch online
- Receive guests. Get paid within 24 hours of check-in!
Your Spare Room Will Make You Money
What you will need is some free time and a spare room or two to re-organize. If you have a treehouse, a castle, a boathouse, that’s great too! That’s pretty much all that’s required to get started with getting extra money as a host on Airbnb.
You might find that you may become a successful entrepreneur and work for yourself from home, or that you can upgrade that retirement pension plan, or even just top-up that full-time job paypacket in your free time – all via Airbnb, one of the most popular hosting platforms worldwide.
Here at Islandhomeplans we provide design and construction advice, costings and even project management online so that you can build your own Airbnb property with your home. We work in Barbados and Ireland, two amazing locations for rentals.
You can doll up an room in your house, convert a cottage or rent a property and we can make sure you meet any design codes for government and provide costings as a guide.
We are strong believers that your valuable property asset should also be able to provide some form of extra money for you, so we partnered with Airbnb to show you how to have a cost effective, well-planned property AND win at being a host so you are booked up and earning so you can stay in charge of your finances.
You get to choose when and how often you host. You can share a spare bedroom or if you are lucky enough to be travelling, host your whole home and make some cash to fund the trip or create a listing for a vacation house, if you have one. With Airbnb makes it is easy to earn extra money by putting your extra space to work for you.
Airbnb listings now stand at 4 million in 191 countries and growing. It is proof that it works for both the hosts and the guests.
1.9 million listings are instantly bookable!
Since 2008, there have been over 200 million guest arrivals. (I will leave you to do the math on average stays.)
The USA has the largest number of listings – 660,000 followed by France with 485,000.The biggest group signing up to be hosts are seniors over 60+, (200,000) followed by women (120,000) .
(Surprise …seniors are rated with more 5 stars as hosts – more than any other host group.)
Just to make you laugh, check out these stats which had us wondering about the human race!
Since 2008 when the company began,
- 570,000 guests arrived to stay on boats
- 300,000 holidayed in RVs
- 130,000 preferred treehouses
(I am hoping this gives you and understanding of the strength backing your future rental.)
Using Your Location
Fortunately for those of you with amazing holiday locations such as Ireland or Barbados, you have a lot to offer. Airbnb guests value scenic locations, especially where there are plenty of activities and entertainment. And there are plenty of listings for quiet hideaways too!
Airbnb listings increased some 63% by January 2018 in Ireland. In Barbados for the Carnival Cropover event, Airbnb was quoted has having 7000 visitors in Barbados using Airbnb.
That’s a lot of Airbnb rentals in July – August for a 21 mile long little island! Here are some of the beautiful beach locations marketed by Airbnb for Barbados and Irish locations…and the views of the guests!
Could this be you hosting and earning these exta dollars?
Or better yet,could this be you visiting a wonderful location?
Getting Started for Extra Money
The online process to create a listing is pretty quick and easy—you write descriptions of your space, upload photos, and mark dates your space is available to travelers.
It’s always free to create a listing.
So just how much could you make hosting on Airbnb? Find out what hosts in your area are making, and start imagining the possibilities. Not only could you travel, Airbnb have been found to use their extra income to pay off student loans, upgrade their home, and pursue their passions.
How does the Airbnb payment process work? Guests are charged when a reservation is made, and funds are typically released to hosts 24 hours after check-in.
How you wish to paid is up to you. There are several options :
- You can set up direct deposit,
- or a number of other options
Buddy Up Hosting Help
As soon as you become a host, Airbnb has all kinds of fun and useful tools to help you grow your guest visits and improve their stay and your comfort level. You can find hosting tips on the Airbnb blog and get your questions answered by experienced, successful hosts in the Community Center.
If ever you are nervous about the safety of your home and belongings , Airbnb’s got your back. In the rare event an accident happens, your property is covered up to a million dollars when you host — it’s peace of mind for you at no extra charge.
For me that is a clincher as it takes pressure off me finding over priced insurance!! And as for the folks staying at your place, everyone who is an Airbnb guest needs to submit a profile photo and confirmed phone number and email address. For extra security , you can also require your guests to submit a government-issued ID so you know your place and you….are safe.
Island Pride Earns Dollars
Hosting can also help you introduce travellers to local places….which is what they want and which is what makes your island location great, your rental better and the guest experience worth paying extra for. Nothing’s more frustrating than meeting a visitor on the last day of their trip and hearing that they only saw thstandard overpriced tourist destinations when there are wonderful local treasures.
As a host on Airbnb, you get to introduce them to all that makes your locale great—and drive more business to your favorite local shops and stores through creating Airbnb Experiences.
So…are you ready to get your income rolling? Ready you can start work for yourself from home, toward your own dream?
Let’s Get You Earning …
Step 1. Sign up here (or click the link below!). It’s free. No credit cards needed. They walk you through it.
Step 2. Build your listing page with photos of the rentable space/apartment. Highlight where it is on the map. People like several shots so they know what they are getting. A little welcome pack is always appreciated.
Step 3. Build your availability calendar. You can change this as needed.
Step 4: Welcome your first guest and get that extra money with a bonus from Airbnb!