Have you ever asked “Can I make money from my home?” Now I am not thinking about making money at home. I am talking about earning money with your home. Let your home do the work and earn money for you.
Are you now thinking ” I do not want to risk the equity in my home with a second mortgage” or worse yet, “I do not have much equity in my home”. Well do not be concerned, there is no risk and it does not matter how much equity you have in your home. It does not matter if you have not made your first payment.
Do you have a spare room? Are you open to having an occasional overnight guest? Would you like to make an extra $50 or more per night from that extra space? Then joining Airbnb might be for you.
Airbnb began in 2008 when two people had space to share in their home. They rented the space to travelers looking for a place to stay. Eight years latter Airbnb has grown to have millions of people register on their site, for free. You can list or rent a room or entire home, the site features one of a kind accommodations in all parts of the world.
Airbnb is a community built on sharing. It has developed a trusted service that make the process easy, enjoyable , and safe. Through the registration process hosts and guests create personal profiles to get to know each other. There is also a messaging system to communicate with each other during all aspects of the booking process. Reviews of both hosts and guests are posted on the site. This way you know each other before the stay.
All fees are collected and payments taken care of by Airbnb. They have a safe, secure and trusted platform for payments. Guest make payment at time of booking to Airbnb. Fees are then paid to host by Airbnb after the stay. Any issue that come up, if any, are handle by their 24/7 customer service.
Registration is easy with the site. You will be asked a series of question about your space. A drop down menu is provide to help answer most of the questions.
- What type of room do you have
- Number of People you can accommodate
- The number and type of beds
Many hosts have at least 8 photos. You can start with just one photo and come back later to add more. It is helpful to post photos of all the spaces a guest can use. This helps guests imagine what is will be like staying at your place.
You should write a description. The site will give you a few questions guest may have to get you started. It can be brief to get going. You’ll be able to edit and write more next, so just get it started.
Not sure what to charge. Not a problem. Airbnb will compare your location, season, and amenities with similar properties. They will then give you an estimate of what you might charge. The actual rent is you decision.
You will also be asked what essentials you will provide to help your guests feel at home. Nothing is required but extra touches help the guest welcome and can help improve you review. As with most things on the internet, reviews can improve your revenues.
An alarm clock and radio make the room more inviting. A TV and hair dryer are usually appreciated. Brochures with information about the area is helpful. You can get these from your chamber of congress. A few magazines would be a nice touch as well as a few books
Some hosts provide breakfast, or just coffee and tea. A small dorm type refrigerator in the the room is a nice touch. You might stock it with a few bottles of water. A small coffee pot would also be appreciated. None of these things are required, but sometimes they add a nice touch to help guests feel welcome.
Amazon is a great resource for some to the things you might need for your money making room:
- Key less entry
- Single Serve Coffe Pot
- Mini Refrigerator
- Clothes Steamer
- Hair Dryer
- Essentials: Sheets, Towels
The site will also about safety features in your home, smoke detectors, carbon-monoxide detector, fire extinguisher among other things.
One last thing, locks. It is important to have a lock on the bedroom door. A key-less entry can be more convent. The also applies to the front door.The code can be given to your guest in advance and changed if necessary.
Listing a spare room is a great way to make extra money with your home. You do not have a full time room mate or the hassles of running a Bed and Breakfast. You can choose when you want to rent, for how long and to whom. It is also a great way to meet new people. So if you would like an extra $50 or a few thousand dollars, check it out.
I hope you find this information helpful. Please leave any comments or questions below.
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