Side hustles have become a norm nowadays with many companies like Lyft, TaskRabbit, Etsy, Airbnb, Fiverr, and Uber. They can all get you extra cash in the bank. But if you want to get a little more bang then hustle with Airbnb because you can make 3x more money as compared to providing other services. Whether you are a stay at home parent, working parent, or a single person in the city, the extra cash always comes in handy to pay your bills or better yet, put away for savings.
Renting out your place on Airbnb
Earning extra money from home is always welcome. Especially when you do not have to break your head with any marketing or business plans. With Airbnb, all you need to do is make your rental space look modern, stylish and welcoming, then take stunning pictures and post them on Airbnb.
Once you get a few great reviews after hosting you will be able to get a lot more people interested in staying with you. As a host, each guests builds off the last. Establishing more reviews and gaining popularity among your area is key to a sought after rental.
For example, you can rent a space in your basement, an extra empty room, or your entire home. Whatever space you decide to use and are able to play with, your first job is to make the place look awesome. You will be judged for your creativity and uniqueness.
How to be a good Airbnb host?
With the shared economy in a boom, you not only get to share your home with a traveller but also share some time getting to know a new person. If you are like me and my family and live where you are renting out your space then you will have opportunities to meet your guests.
To be a good Airbnb host, the most important thing to keep in mind is to be truthful and transparent with your guests. Tell them exactly what they get when they book your place. Make them feel special by leaving a small gift for them to discover. The gift can be something that is locally available, that will delight the guest. Make your guests feel safe and taken care of by sharing your private number for direct contact, your wifi password, a manual for operating the electronics and any house rules that apply.
Tips for better pricing and making money
Pricing your place can be a little tricky. There is nothing as the “best price” but here are a few pricing tips to keep in mind:
- Firstly, always charge a fair price and be competitive.
- To earn more money keep your weekend prices higher compared to weekdays, as you can expect more demand on weekends.
- Look for seasonality opportunities to make more money. Do you live where tourists visit more in the summer or winter months?
- Lastly, you can charge higher when there are special events like concerts and conventions.
How much money can you make with Airbnb?
Wondering, how much can you make on an average on Airbnb? That depends on a couple of factors. The city, location, size, interior design and price all come into play when it comes to earnings. Point to remember is that people are willing to pay extra for exclusiveness even if that requires them to travel some distance.
Participate in the Airbnb review system. Remember your future prospective guests will always look at the reviews before booking your place. Leave a review for every guest as well. You get only 14 days to do so, so make sure you leave an honest review for each guest which helps to strengthen the trust within the Airbnb community. Be quick at leaving reviews so that if something went wrong, you can accept it and talk on a positive note.
With all the things discussed on how you can earn extra money from home with Airbnb, it is your call how you take it forward. Once your place is ready to rent out, you can list it on Airbnb and let the platform take care of everything from pulling in guests to processing payments. You just need to keep the place clean and of course…
Don’t just host, Superhost! And Superhost like a Boss!
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