Ever since Airbnb was launched in year 2008, it has changed the way the world travels. The company is valued well into billions and has helped the homeowners around the world become mini-hoteliers, enabling guests to stay in an extra room overnight or take over the home for a particular period of time.
At present, Airbnb has helped millions of guests to book a place to stay in various countries. But, how much do hosts earn from Airbnb? Well, Airbnb hosts basically earn more than anybody else in gig economy and raking in an average of $924 monthly.
Hosts on Airbnb make about 3 times as much as some workers. However, earnings on Airbnb may range drastically with hosts making more than $10K monthly while some make less than $200. Still, nearly fifty percent of Airbnb hosts make more than $500 monthly.
What Would It Cost You to Operate as an Airbnb Host?
The costs basically depend on your situation. If you’re thinking of renting or buying a place for the sake listing your property through Airbnb, the benefit or cost discussion is more involved. If you plan to list out some space that you have and is not being used currently, you don’t have to think of additional housing costs.
You’ll need to provide some consumables including toilet paper, coffee, soap, and more. You could also expand the items you’re willing to provide to include milk, eggs, bread, and so on. Such costs are actually minimum, yet add significantly to the experience of the guests. These are great investments. The utilities might add up as the guests could be more liberal with leaving lights and air conditioner on once they are not paying the bill. The golden rule is to be conservative as well as figure twenty-five percent of gross income would go to the costs. All in all, the costs will differ widely depending on your situation and based on local tax laws.
How Can Airbnb Hosts Max Out Their Earning Potentials?
Keep the Prices Realistic
You aren’t a traditional hotel, so never try pricing yourself like one. Take note that many would prefer renting a property at 1/3 of the price. The reason behind it is that people love to save money. So, make sure to stay at reasonably priced cabin.
Take Some Beautiful Photos of Your Home
Photos are the most important factor when marketing vacation properties. Some Airbnb hosts claim to make $100K yearly for sharing their home with international backpackers, retirees, and so much more. In photos, make sure to highlight anything that is unique about your home. You must also take a photo of your amenities and some local attractions that people might get from your Airbnb listing.
Never Forget about the Little Things
Make sure to provide a good guest experience through providing customers with everything they’ll need during their stay. You should provide entertainment, towels, mini toiletries, and a bottle of water or some sweet treats from the nearest bakery in your area.
Can you put in little investment and still make Money?
This is actually Interesting, some of the most sought after Airbnb are unique experience stays. There are several people who bought some raw land in a popular area and made it a classic memorable experience. Things such as tiny homes or Airstream trailers, they also groom the landscape around it in a beautiful and unique way. Although you are not going to make $600.00 a night, your investment was some land, a small dwelling and landscaping. Then you can be taking in $50 to $100 a night on something this simple.
You should check out our other articles about using Hipcamp and AirCrete homes as well. These can be done cheap and the money can start coming in. Check out LandZero for great land deals if you are interested in this.
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