Why not put your property on Airbnb. You’ve stayed in an Airbnb before, I’m sure you’ve stayed in quite a few. You probably had your complaints and compliments, but have you ever thought of renting your place out to make some money? While renting has its pros and cons, it can be a great way to make supplemental cash and finance your own travels. If you already travel a lot, your place is probably empty a decent chunk of the year. Why let it gather dust when you can make money off it?
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Listing your Property
There are currently over 6 million Airbnb listings worldwide. Putting your property on the site is actually pretty easy. After creating an account, you click on “List Your Space” and begin adding your property’s information. It will ask you about the size of your home and what rooms you are offering. It will also ask if you want potential guests to be able to book the listing instantly or if you’d prefer to receive a booking request first. Once you put up photos and specify extra fees such as cleaning or a security deposit, you will be able to input when exactly your property will be available and begin renting to travelers.
When you provide payment details to Airbnb, you can take guests. Airbnb collects payment from the guest and holds it until 24 hours after check-in. Then you will receive your money. Some people think that this takes too long, but if you are filling your property often you won’t notice the wait as much. Airbnb takes 3 percent from every booking, which doesn’t seem like much, but it certainly adds up for them.
Use the Money to Travel
Airbnb can be a great way to rent your property while you’re away traveling. You will be making money without doing much and will be able to use your income to finance your travels. According to experts at the site MoneyPug, which is used to find cheap home insurance, it is helpful to have someone you trust nearby to help if there are any problems with your guests’ check-ins or during their stay. This can be a great way to supplement another income you already have. Combining Airbnb bookings with an online job can be your round-trip ticket to traveling the world.
Things to be Aware of if you put your property on Airbnb
Listing your property on Airbnb is a great way to make money for travel, but there are certainly things you need to be aware of. It comes with inherent risks, and if you expect to be traveling while you are renting you will have less control over what happens at your property. Not only do you need to be cognizant of the laws surrounding Airbnb listings, you need to be careful who you rent to.
Some people worry about their guests throwing parties or stealing their valuables. It is wise to remove anything you can’t live without. You should also be conscious of what is inside the property. If you have someone you trust able to welcome guests and supervise the situation, you will be a lot better off. Furthermore, Aribnb doesn’t have the best track record if a tragedy were to occur in your home. There isn’t much they can do when someone passes away in an Airbnb and do little more than condemn guests that overstep their boundaries.
Be Prepared & Make Money
Having said that, if you are prepared with proper insurance and safety valves, you will likely experience no trouble. For how many properties are booked on their site every day, there are typically few problems. The vast majority of people who use Airbnb are travelers looking for an affordable option to get an authentic perspective on wherever they are traveling.
Using your home to make money can help you finance your own trips. Depending on how large your property is and how nice it is, you can make more money listing on Airbnb. So what are you waiting for? Start doing your research and use your property as a way to make money. The world is waiting for you. With proper planning, due diligence, and care you can meet new people, travel wherever you want to, and make money doing it all.
Ryan Beitler is a journalist, writer, and travel blogger. He has written for Paste Magazine, The Slovenia Times, New Noise Magazine, Deadline News, OC Weekly, and numerous travel sites. His blog is Our Little Blue Rock and he can be reached at [email protected]