Two New Attractive Ways To Earn Extra Money With Airbnb
Not only renting your home! There are 2 more options to generate money on Airbnb.
Airbnb (formerly Airbed & Breakfast) is one of the largest online platforms for booking and renting vacation homes worldwide. The company was founded in 2008 to enable private individuals to rent out rooms in their apartments at short notice and thus generate additional income. Especially in cities with high rental prices, renting via Airbnb has become a popular option for many to save some of their rental costs.
Create an experience
If you don't have any accommodation, try to generate money with your hobbies and skills. For example i live in the Tyrolean (Austrian) Alps, there are lots of hiking and biking possibilities, great routes, awesome huts with local food and a lot of great scenery. I like to hike, so i thought to create a Airbnb-experience in my home region, to show people around the fascinating region, offer them some nice food and drinks and shooting some 360°-photos for them as a lifetime-memory.
This is one example of an Airbnb-experience. But you can offer anything you want. While i was travelling trough the last years i booked mostly only trough Airbnb, because you always have a local who offers that experience. No agency, no bored tour guide, no expensive costs and so on. I booked experiences like Mountainbiking in Bolivia, Horse riding in Colombia, Coffee tasting in Colombia, Craft-beer-tasting in Chicago, Street Art-Tour in Stockholm or a Photoshooting with a pro in Singapore.
How to earn money now?
Set up your experience the same way you would set up your accommodation. If you don't have one as i mentioned above, then it's still mostly like the same with setting up an experience. Create an Airbnb account and switch from “Travelling” to “Home hosting” there you will find also a section in the menu “create an experience”. As you can see in the screenshot you can choose now between “In Person” or “Online only” experiences.
After you choosed your kind of experience you can start right away with basic information, descriptions, meeting point, what people should bring with them, what you offer and more. Finally to earn money, set up a price per person you think you might are worth for the tour. Always think, how much you would be willing to pay (honest suggestion). You always can edit your experience and pricing. So start in the beginning maybe with a more attractive lower price to generate some bookings and reviews and then slowly edit your pricing and scale it up. Of course don’t get to over-pricy, because this can shock people and hold them back from a potential booking.
Create an online-experience
It’s a new product from Airbnb designed to help you sell digital experiences, especially in times of spatial distance.
Online discovery was introduced by Airbnb in light of the spreading COVID-19 crisis. These are live, interactive video sessions that people participate in from the comfort and safety of their own homes. From online cooking classes to songwriting and spa sessions to interactive yoga lessons and coffee masterclasses, all sorts of unique discoveries are welcome on the platform. They take place via Zoom, making them available on all types of screens and devices.
Those of you who offer unique activities and classes or have an exciting hobby to share should consider hosting an online discovery with Airbnb. The platform is a great way to connect with people from around the world and increase interactions online.
Online experiences require the same setup procedure as the physical experiences mentioned above. It is really very easy and quick to create. Don’t forget the price settings to eventually earn something for your work ;)
Just like for on-site experiences, you’ll need to meet Airbnb’s quality standards as well as some additional requirements.
Rent your home (the standard one)
Registration is super easy — you can register super fast with Facebook or Gmail, you take photos of the room and enter the key data of the accommodation. But also with the AirBnb app the whole thing goes very quickly. Your own ad is already online. The prices can be adjusted individually for each day and you also get a price recommendation, which is based on the request for the respective city. Within 10 steps you are done with your listing.
Don’t try to hide anything, because the Airbnb system runs on ratings. You rate the tenant and the tenant rates you as the landlord.The more very good ratings you get, the better your ad will be perceived and also delivered in the search.
It is also important to find out on a legal basis whether and under what conditions you can rent out your accommodation. Every city handles this differently. Also sometimes in region you have to calculate within your price also a local tourism tax, like here in Austria. It is also worth taking a look at the rental contract to find out whether the landlord allows you to do so. Otherwise, a phone call will help. If you own a property again, you have to check legal condition if you are allowed to do it or not. Mostly you need a commercial use for that property if you don't live inside it.
Since you are all set-up Airbnb is a great way to earn a monthly (passive) income. Either it runs so well that you can live from it full-time or just a good extra income.
You also need to be aware that after you publish the apartment, it will be used by other people and you need to deal with that when renting via Airbnb. If you can’t deal with someone using your cups, possibly putting something on another shelf or using your toilet, then you shouldn’t rent out your own apartment through Airbnb. Of course you have to plan also your time well, because after every check-out the apartment has to be cleaned, beds have to be made and much more.
