How to Make Money with Airbnb

Making money with little to no effort is probably most people’s dream. Wouldn’t it be nice to make some extra money off of a space you already have and aren’t using? In comes Airbnb to save the day! You could be an Airbnb host and make some extra money! What does that look like? Here are some tips on being an Airbnb host!

Renting out one room will generate less income than renting out an entire home. Revenue generated for listing a shared room averages to about 0.56%, versus the revenue for an entire home averages out to at least 100 times that!

Likewise, listing one property versus two or more generates less income. Almost half of all Airbnb reservations are booked in properties with hosts that have multiple listings.

There is clearly money to be made in offering more through Airbnb- whether that is more space or more spaces!

Not every city is lucrative for Airbnb. Factors such as urban development, environment and recreation all draw in tourists. In general, affordable and warm cities bring in lots of tourists and business on Airbnb!

In addition to those two factors, having an exceptional Airbnb profile also leads to success! The presentation- from photographs and transparency to pricing- help you draw attention to your listing. Professional photography is so important to a good Airbnb listing- which is why Airbnb offers free professional photography in many cities. Photos can make all the difference. In regards to transparency, be honest about the listing. Likewise, be honest with your pricing based on what you are offering and what the competition is offering.

Finally, keep things legal. Not all cities allow Airbnb.

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Image By Stephaum – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=36131359

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