If you have a spare room in your home, a rental property or a Granny Flat that can be rented out – why not look at becoming an Air BNB Host and earn as much as $1544 per month (as per their website!). Many couples that have individual houses then go on to live together often lease their homes out on AirBnB as the rent is extremely lucrative.
AirBnb is an online marketplace that allows people to rent out a space for short-term rentals – or holiday rentals. You can book just about any type of accommodation on Airbnb, from a spare room, to a guest house, granny flat, a backyard tent or even a boat!
When people book AirBnB’s – they are looking for a place that is unique and homely, so if you have some decorating skills, put them to use making space beautiful and spacious. Invest in some excellent photography of the images before signing up to become a host. Hosts with beautiful, professional photography tend to book 40% more than taking your own photographs!
How to Price Your Space
See what comparable properties are renting for in your area. To do this, have a look at local real estate agents listings and also check Airbnb for your area (plus you can see your competition!). Your aim is to get booking and loads of positive reviews so that your listing becomes the most popular in your area, so at first, look at lowering your price point to get up your reviews. Airbnb does have an online calculator which will help you come up with a good price.
As a host, it is your responsibility to provide the rented space with items such as toiletries, cleaning essentials, linens and everything your guests will need when staying in your space.
Pricing for AirBnB
Listing on Airbnb is free, but they do charge on a ‘per booking’ basis which depends on your pricing.