In this article you will find out how to make money with Airbnb
Airbnb is a sharing platform that connects people who want to make unused spaces available (such as a room in an apartment, an entire house)
with people who wish to rent them for short periods, offering an alternative and very competitive service to traditional hotels
the Airbnb platform gives you access to accommodation to rent all over the world at advantageous prices and with many different features
the accommodations are described by the owners and each lodging has its own characteristic and uniqueness
a totally different style from that of a hotel where the rooms are very similar and lack personality
the owners generally decorate the apartments with typical and traditional characteristics of the place and this makes the stay even more pleasant
Airbnb has very affordable accommodation prices and in general the price of a stay in an Airbnb costs less than the price of a standard hotel.
Airbnb gives you the possibility to contact the owner of the accommodation to make visits, to ask for information and to book the stay
the owner of the accommodation has the possibility to choose his host (guests)
Once the booking is confirmed, we will have to pay a deposit of 30% of the total price and once the owner has confirmed the arrival, the booking is final.
on Airbnb you have the choice between two types of rentals:
- Rent a room
- Rent an apartment
What is the difference between renting a room and renting an apartment?
Renting a room means renting a single room in an apartment or house
This is the easiest way to make money on Airbnb and can be done by anyone, even if they don’t have their own apartment.
Renting a room is the cheapest way to rent on the platform
in this type of rental the owner and the host (guest) share the apartment or only certain areas of the apartment (for example kitchen, living room)
Renting an apartment means renting the entire apartment to other people
This is a more advanced way to make money on Airbnb and requires you to have your own apartment
the costs in this case are much higher, both in terms of income for the owner and in terms of expenditure for the host
What’s the best way to make money on Airbnb?
There is no better way to make money with Airbnb, there are so many factors that vary from person to person
earning with Airbnb depends on several factors, such as apartment availability, location and customer demand
If you are an owner , the best way to make money on Airbnb is to rent an apartment
Renting an apartment allows you to earn more money than renting a room
and also by renting an apartment you have the possibility to accommodate more guests and therefore to earn more
one of the great benefits of Airbnb is that since bookings are for a short time you don’t have defaulting tenants,
unlike what can happen for long-term rentals, which allows you to make your property very profitable
this is because your guests are mainly tourists on vacation
if you are not the owner of the property
another way to make money with Airbnb is subletting
what is sublease?
The sublease is a particular form of lease that is characterized by being a contract stipulated between two parties, the sub-lessor (You) and the sub-lessee
the sub-tenant is obliged to pay the monthly rent to the original tenant, but it is he who exercises the right of use on the property given in sublease
this way of earning through Airbnb is relatively new and is becoming more and more popular in recent years
Making money with Airbnb pros and cons
Here are the benefits of earning with Airbnb
- Reliability of the company
- property damage insurance
- Host Compensation Insurance
- Higher Daily Earnings
- customer selection
Here are the disadvantages of earning with Airbnb:
- Property management
- Higher taxes
What is Airbnb’s commission rate?
Airbnb takes a 3% commission for each booking made by guests. However, if the apartment is located in the United States, the commission is 6%.
How to choose a good host?
To choose a good host, it’s important to check the host’s reputation on Airbnb
the Airbnb platform has a rating service that allows you to rate both owners and hosts
as far as an owner is concerned the best way to choose a good host is to check the ratings they have received from previous owners
instead, for hosts, the best way to choose a good accommodation is to check the comments made by people who have stayed there
How to earn more with Airbnb?
There are several ways to earn more with Airbnb, generally the most used method is to increase the price of the apartment
and position itself as a luxury apartment for a more affluent clientele
Offering discounts to guests who book for longer periods of time is also another method used to increase earnings on Airbnb.
You can also offer additional services such as breakfast or airport transfer, sightseeing and massage services to increase your online income