Are you
one of those practical folks who like to earn money on your things that are
just “sitting there”? Do you have an extra room in your home or a basement
that isn't being used? Would you be comfortable listing that space for
other people to use, even for short periods of time? Then maybe you should
check out Airbnb.
What is
Airbnb?
Airbnb is a site where
people from almost 200 countries log in to find places to list their space.
The
reasons for wanting to list their space is as varied as the individuals
themselves. Some are world travelers who are gone from home
more than at home. Some are artists or performers who need
to travel with their work. Then there are those retirees who like to live part
of the year in a different climate.
These
individuals also don't mind making the extra cash by offering their places out
and in doing so are what Airbnb refers to as “hosts”.
The hosts
aren't just limited to listing out traditional spaces such as houses, but are
also allowed to list apartments, entire Bed & Breakfasts, log cabins,
yachts, castles, caves, igloos, and teepees. Imagine what an exciting stay that
could make for someone!
Not only
do travelers like the adventure of staying in some of these types of places,
but they also feel less that they are living out of a suitcase and more like
they are connecting to their surroundings. A family can also host them and even
help them navigate the area.
When
Airbnb was first founded it was used mostly by budget-conscious tourists. Then
companies began to realize that they could also save money on travel expenses
for their business travelers.
What Benefits Does Airbnb Provide to Travelers and Hosts?
Airbnb's
website provides travelers with information on how to get the most out of their
stay. It also provides hosts with a “getting started” guide and other
information on how to list their properties on the Help page.
There are
also tips on using photographs and keywords to promote your property as well as
tax information.
What Type of Information Do Hosts Have to Provide to Airbnb?
Before
allowing you to host, Airbnb will need to verify your:
·
identity
·
bank
account
·
location
of residence
·
phone
numbers
·
tax
information
Airbnb
also offers up to $1,000,000 in insurance protection for your property. This
will insure you should your property become damaged, but you should still have
some type of homeowner's insurance.
How Much Money Can You Earn Renting Out Your Space at Airbnb?
That will
all depend on the space you list (residential home, yacht, Bed & Breakfast,
etc.) as well as:
·
your
location
·
the
traveler's duration of stay
·
the
amenities you provide (Wi-Fi, dishwasher, etc.)
·
the
host language (English, French, Danish, Spanish, etc.)
But for
many people, Airbnb is an excellent source of supplemental or even full-time
income just depending on the factors listed above.
How Could an Interested Individual Sign Up at Airbnb?
You can sign
up to become an Airbnb host here. Also, it wouldn't be a
bad idea to go to your local zoning commissioner and get a copy of any and all
county laws on parking or zoning.
Good luck!
And if you have any experience with earning money via Airbnb, please let us
know about it in the comments.
Post
originally published on April 12, 2016. Updated and republished on July 26,
2019.
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