As a potential Airbnb host, you may be wondering what benefits come with hosting on the popular vacation rental platform. From earning extra income to meeting interesting people from around the world, there are numerous advantages to becoming an Airbnb host. In this article, we will explore four key benefits of hosting on Airbnb.
1. Earn extra income
One of the primary reasons people decide to become Airbnb hosts is to earn extra income. There are many ways to get involved in the Airbnb game, from renting out a spare room or an entire property, and you can generate significant income without having to put in a lot of effort if you plan well from the start. In fact, according to a 2019 study, the average Airbnb host in the United States earned $924 per month by renting out their space. A 2017 study pegged their South African counterparts at R25 919 per month and I can vouch for these types of numbers as some of my properties earn around R45 000 per month on average in revenue.
Furthermore, hosting on Airbnb can be a great way to offset the costs of owning a vacation home. By renting out your property when you’re not using it, you can recoup some of the expenses associated with owning a second home.
Additionally, the study found that the average nightly rate for an Airbnb listing in the United States is $150, and the average occupancy rate is 43%. This means that if you rent out your property for just one night per week at the average rate, you could earn around $639 per month. Of course, these numbers may vary depending on your specific situation, but they give you an idea of the potential income you can earn as an Airbnb host.
2. Flexibility & Control
Another benefit of hosting on Airbnb is the flexibility and control it offers. As a host, you get to decide when and how often you want to rent out your space. This means that you can choose to only host during peak tourist seasons or on weekends, for example, allowing you to earn income on your own terms. One of my favourite things is being able to use my properties whenever I feel like it and getting access to properties that I cannot afford to purchase, but can rent in order to sublet them on Airbnb.
Additionally, as a host, you get to set your own rules and guidelines for guests. This means that you can decide on the type of guests you want to host, the check-in and check-out times, and any house rules you want to enforce. This level of control allows you to tailor your hosting experience to your preferences and needs.
3. Meeting New People
Hosting on Airbnb can also be a great way to meet new people from around the world. As a host, you will have the opportunity to interact with guests from diverse backgrounds and cultures, which can be a rewarding and enriching experience. Furthermore, hosting on Airbnb can also provide you with the opportunity to connect with other hosts in your area. Through the Airbnb host community, you can share experiences, advice, and tips with other hosts, which can be a valuable resource. I’ve made many a friend in the hosting community and on local host Whatsapp groups and meetups.
4. Positive Impact on Your Community
Finally, hosting on Airbnb can also have a positive impact on your local community. By hosting travelers, you can help boost the local economy and support small businesses in your area. In fact, a 2019 study found that Airbnb hosts in the United States generated $3.7 billion in economic activity for local communities. In Cape Town, where my listings are located, myself and other hosts actively point guests towards local businesses and operators in the tourism industry to keep it local.
Furthermore, hosting on Airbnb can also provide opportunities for community-building. By welcoming guests into your home, you can help foster a sense of connection and belonging within your community.
In conclusion, hosting on Airbnb offers numerous benefits, including the opportunity to earn extra income, flexibility and control, the chance to meet new people, and the ability to positively impact your local community. If you’re considering becoming an Airbnb host, these benefits are definitely worth considering.