So You're Thinking About Becoming an Airbnb Host. How Much Can You Really Make?
If you’ve traveled recently, there’s a good chance you paid to stay in someone else’s home rather than a hotel, and you did so because of Airbnb. If your experience was positive, you might be asking how to become an Airbnb host yourself. So, we’re here to discuss the economics of hosting on Airbnb—how much money can you earn renting out your space to travelers, and how much the process will cost you.
The Airbnb platform has done more to make the home-share model safe, reliable, and culturally acceptable than any other service. Today, Airbnb is active in more than 65,000 cities around the world, with upward of 4 million listings.
Unlike ride-sharing apps like Uber, which are the constant center of analysis, Airbnb doesn’t get as much focus, so it’s hard to tell whether the time, effort, and investment of becoming an Airbnb host is worth the payoff. But it’s a question worth asking. To help you answer that question, we’ll show you how to become an Airbnb host and, along the way, what hosting on Airbnb will cost you.
How Much Money Can You Earn as an Airbnb Host?
If you’re thinking about becoming an Airbnb host, your intention is more than likely to pick up a side hustle, not to start a fully-fledged business. On average, Airbnb hosts make $924 a month, but those numbers vary. Some hosts even buy or lease a number of apartments or homes and rent them out full time, creating what could be a six-figure income.
If you’re curious about how much you can really earn by becoming an Airbnb host, you can plug in your location, the number of guests you can host, and how much of your home you can rent out on Airbnb’s website, and they’ll show you an average number.
Of course, your true earning potential depends upon how much you charge for your space, and how often you can rent it out—both of which are ultimately dependent upon how much time and money you can spend on furnishing and maintaining your home. (Not to mention the sweat equity you’ll need to contribute toward making your space hotel-worthy.)
So, the first thing you need to do is decide what your goals are for becoming an Airbnb host, and how much you’re willing to put into it, both effort- and money-wise. Keep in mind that if you’re renting out a room in your house, your roles, responsibilities, and expenses will be much different than if you need to obtain, furnish, and perform upkeep on an entire home.
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