How to Turn Your Own Home into an Airbnb

With the amount of buzz Airbnb has been generating in the house rental business, it’s not surprising that so many people want a piece of the cake. While earning a stable salary in your job is always necessary, renting out your own home as an Airbnb can be a great way to make some money on the side. Whether just renting your place out while on holiday or renting out a few rooms of your house indefinitely, Airbnb can be really profitable. Here we will cover two main things:

  • The pros and cons of turning your own home into an Airbnb

  • How to turn your own home into an Airbnb successfully

The pros and cons of turning your own home into an Airbnb

The process of turning your own house into an Airbnb can be a double-edged sword. While the extra income you earn on the side is always appreciated, the inconvenience is not. So generally, it is up to hosts to research and find out whether or not turning their own home into an Airbnb is a good idea. Some of the advantages to renting out your own home as an Airbnb is:

Not taking any risks:

By turning your own home into an Airbnb, you can avoid paying rent or mortgage for an extra property. This way, you will not have to worry much because you aren’t losing anything even if you don’t get many reservations.

This can be especially beneficial to those planning to rent their own student accommodation on Airbnb.

Tax-cuts and exemptions:

In most cases and countries, personal property is exempt from taxes if rented out as Airbnb. Renting out your house is considered a good way to make money on the side, not a fully-fledged business. Therefore taxes either don’t apply or are significantly discounted.

Meeting new people:

If renting out a room or a portion of the space you live in is your plan, then you may meet a variety of new people. This way you can always make new friends, learn new things, and hear interesting stories.

A substantial amount of income:

You’d be surprised at how much that spare room in your house can make if you rent it out as an Airbnb. While the numbers aren’t enough to classify as anyone’s primary income, renting out a portion of your property is a great way to make some money on the side.

And then hosts that wish to get down to business must also recognize some of the flaws sharing your house with guests has:

Spending time and money:

Naturally, as with any business, you must dedicate some time and money to rent your house out. Whether it be restocking some amenities or replacing sheets for new guests, expect to be paying a moderate amount of money if you want your little business to flourish.

It won’t earn as much as a dedicated property:

While the money you earn from renting out your room is pretty good, it won’t beat the earnings from renting out property completely. In general, renting out part of your primary residence is only a good idea if you don’t have other properties you’re willing to work with.

Airbnb logo on two blocks on the beach

How to turn your own home into an Airbnb successfully

So you decided to rent out your primary residence as an Airbnb? Well, then there are a few things to consider if you want to be really good at it:

Make sure you have a flawless Airbnb listing:

Whether it’s taking good Airbnb photos or a writing a fitting listing description, you should always make sure your listing attracts as much attention as possible. You want the guests who are seeing your listing to be excited at the very first sight.

Keep the place clean and ready:

Always stock up on extra supplies such as towels and toilet paper and make sure the space is extra clean. Just like any Airbnb, your room and house should meet hotel standards. Also, you can use Eco-friendly cleaning methods, and make sure your Airbnb is allergen-free. Remember to mention these things in your listing description to attract more guests.

Welcome your guests:

You should make sure to give your guests a one-of-a-kind experience so that they leave good reviews for you on the Airbnb app or website. More good reviews mean more future guests, and more future guests mean more money!

So, welcome them with a warm smile, write them an Airbnb welcome letter, or leave them an exciting Airbnb welcome package.

To summarize, hosting your primary residence on the Airbnb website can be a great idea, whether entirely or just a few rooms! As long as you can manage to split your time and money, it can be a great way to earn some extra money besides your regular job!

Source Investopedia CNBC GuestReady
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  1. Dora says

    I’m going to start renting out my extra rooms very soon. I’m pretty sure it’ll be a huge help with the bills. Although tge thought of sharing my space with total strangers does seem a bit stressful.

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