- I’ve been renting my home on Airbnb for four years and, overall, I’ve had a great experience.
- The money is great — I’m able to pay my mortgage for the year by renting out my home for three months during the high season.
- Plus, guests are generally very courteous, Airbnb has a great internal messaging system and resolves issues quickly and easily, and I have the freedom to travel when I want to and still make money.
- Read more personal finance coverage.
Renting your home short-term on Airbnb can be a nice money-making opportunity for people who have the ability to rent out one or more of their properties. But is renting on Airbnb a good move? Depending on your situation, it could be.
I’ve been renting my home on Airbnb for four years, so I’ve experienced a wide range of situations. If you’re considering doing the same, you may be able to learn from my experience.
I have had an overall positive experience with the short-term rental market, and I’ve benefited from it greatly. Here are five reasons I love renting my place on Airbnb.
1. The money
I live in a relatively popular, high-traffic area, so renting my place during three months of high season pays the mortgage for the rest of the year.
This is a major bonus of the short-term rental system: I can rent daily at an adjusted price because my guests aren’t long-term renters.
There are definitely costs associated with renting my apartment short term, including Airbnb fees, normal upkeep, internet/cable, and hiring someone to clean the place when I’m not in town to do it myself.
However, those costs are minimal when offset by the nightly rental price, so I still end up with a nice chunk of cash that I can use as supplementary income.
Generally, I’m able to pay over half of the cost of my place with just a few months of renting it out. And I travel when I’m not living in Colorado.
2. I can manage it from anywhere
It’s easy to communicate with guests via the Airbnb app, and I can do that from pretty much anywhere that has internet.
I also coordinate cleanings and on-site management via messaging, so it’s not necessary for me to stay in town in order to be a good host. Airbnb is an internationally recognized brand, and so far, I haven’t traveled anywhere that I couldn’t get in touch with my Airbnb guests via the app or the web interface.
It’s important to me to be location independent, or at least have the option of being location independent, and Airbnb makes it possible and simple to do so.
3. I don’t need to move out of my place
Instead of completely moving out, I can lock my stuff in closets when I leave. I have a storage unit for bigger things that I can’t store in my apartment, but it’s nice not to have to move everything just because I have Airbnb guests.
Plus, guests will need things like cookware, furniture, and linens, so there is no need to put those things into storage or lock them up somewhere.
While I’m away, my Airbnb guests can use them and if something gets lost or broken, I’m able to cover the loss or file a claim with Airbnb if it’s really serious. So far, I haven’t needed to do so.
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4. Guests are generally very courteous
As a frequent Airbnb guest myself, I always try to leave each property in top shape, and I expect the same from my guests.
I’ve had minimal issues with guests, and people will treat the place well if they know it belongs to a real person and not a giant, faceless company.
Most travelers are just looking for a comfortable place to crash during their trip, and the majority of stays are completed without any glitches.
Folks who use Airbnb aren’t expecting any level of professional service, because that isn’t what Airbnb does. For the most part, people just want to feel at home while they’re away from their home.
5. It gives me complete freedom
With Airbnb, I’m not tied down to my property; I can leave town whenever I want and come back to a clean apartment that’s still mine. I don’t need to worry about moving in and out of rental apartments or finding another place to store all my stuff.
As I mentioned before, location independence is one of my personal priorities, and renting my place on Airbnb while I’m away helps me maintain that lifestyle.
By renting through an established platform rather than trying to do it myself, I have access to an entire customer base of Airbnb users as well as protections, policies, and paper trails to keep everything in order. It’s about as hassle-free as renting can be.
For property owners who want to add some flexibility and gain a little extra income, Airbnb is a great option. Despite some of the Airbnb horror stories out there, the majority of host-guest interactions and experiences are positive, and so far, I haven’t had any problems that haven’t been easily solved.
If you’re considering entering the short-term rental market, I would look into becoming an Airbnb host. The best way to learn is to read articles about hosting (which you’ve done now) and then to just dive in. Good luck!
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