How We Made $7k in 5 Stays Hosting Our Personal Home on Airbnb: An Easy Sidehustle
If you’re looking for ways to make extra money, especially when you need it most, renting out your personal home on Airbnb is a fantastic option. I’ll admit, it felt a bit strange at first. The idea of letting strangers stay in your home can take some getting used to. But after our experience, I can confidently say the income potential is absolutely worth it. Last year, when my husband was laid off, we turned to Airbnb to help bring in extra income, and we made over $7,000 in just 5 stays! Here's why this could be a great option for you too:
The Income Potential Is Real- Easy and Quick Sidehustle
Renting out your personal home on Airbnb can generate substantial income, especially if you live in a desirable location or have a well-kept space. For us, the extra cash flow came at the perfect time when we were looking for ways to cover bills after my husband got laid off. Whether you're saving for a home renovation, a vacation, or simply need to bridge the gap during tough times, renting out your home could be the solution.
When my husband was laid off last year, we were looking into any ways that we could make some extra money. When a friend suggested renting out our personal home on Airbnb I wasn’t sure at first but when I realized the amount we could rent it for, we decided to give it a shot.
For context, we have a 2,300 sq ft 3 bed/ 2 bath home. We do live in a college town which meant that people were looking for places to stay for football games and college graduation. Because we have young kids, most of our guests were families with young kids who appreicated their access to our kids toys, utensils, high chairs, backyard and books.
Insurance and Peace of Mind
One of the biggest hesitations people have is the fear of strangers in their home. What if something gets damaged? What if they don't treat your home with care? I had these same concerns. But Airbnb offers Host Protection Insurance, so we never had to worry about our things. And in our case, every guest treated our home perfectly. We were lucky to have only positive experiences with respectful guests. In every case, when we got home you couldn’t even tell anyone had stayed at our house.
Flexibility and Control
Unlike a long-term rental, you have complete control over when your home is available. Need to bring in extra cash quickly? Open up a few weekends for bookings. Want to block off time for personal use? No problem! Airbnb allows you to set your own availability, meaning you can rent out your space only when it works for you.
Now that my husaband is working again and we don’t have the immediate need for the cash, we have our home listed as unavaiable but I love knowing the listing is there and ready if and when we are looking to bring some side money in.
Perfect for Saving for Big Goals
Whether you're planning a big family vacation or saving for a home project, the extra income can make a huge difference. We put the money we earned towards our future goals, and it felt great to see the savings add up without having to sacrifice too much of our personal time or space.
A Lifesaver in Tough Times
When my husband was laid off, we needed an immediate way to supplement our income. We were on the hunt for easy and quick sidehustles to bring in more money and Airbnb became our lifeline during that period, providing the extra cash flow we needed to keep things running smoothly. The flexibility to rent out our home when we needed it was a game changer.
If you’re interested in listing your home, use this link to create your hosting account and you’ll get extra cash after you complete your first stay!
Frequently Asked Questions About Renting Out Your Personal Home on Airbnb
If you're considering renting out your personal home on Airbnb as a way to make extra money, you probably have a few questions. Here are some frequently asked questions that can help ease your concerns and give you a better understanding of what to expect.
1. Is it safe to rent out my personal home on Airbnb?
Yes, Airbnb offers several safety features, including Host Protection Insurance and Host Guarantee, which cover up to $1 million in damages or liability. In our experience, we never had any issues, and guests treated our home with care. Plus, Airbnb allows you to communicate with guests before they arrive and read reviews from previous hosts, which helps screen potential renters.
2. What if something gets damaged?
Airbnb’s Host Guarantee covers damages to your property up to $1 million, giving you peace of mind. However, it's always a good idea to remove or secure valuable or sentimental items before renting out your home. We never had any damages, but knowing we were covered definitely made us feel more comfortable.
3. How do I set the price for my home?
Airbnb provides a tool that helps you estimate how much to charge based on factors like location, seasonality, and amenities. You can also research other listings in your area to compare prices. Start with a competitive rate to attract your first few bookings, and then adjust based on demand and guest feedback.
4. How do I prepare my home for guests?
It's important to keep your home clean and welcoming. Before each stay, clean thoroughly, provide fresh linens, and stock basic essentials like toiletries and kitchen supplies. Many hosts also leave a welcome note or local recommendations to make guests feel at home. We found that adding little personal touches like these helped us earn great reviews.
5. What if I don't want to rent my home all the time?
You have complete control over when your home is available for booking. If you're going on vacation or don't need the extra income at the moment, simply block off your calendar. This flexibility is one of the biggest perks of using Airbnb—you rent out your home on your own terms!
6. How do I deal with bad guests?
While most guests are respectful, Airbnb has a system in place to protect hosts in the rare case of bad behavior. You can report any issues to Airbnb's support team, who will assist you in resolving the situation. Thankfully, we never had a negative experience, but it's good to know there's support if needed.
7. What are the taxes or legal requirements for renting out my home?
Depending on where you live, there may be local laws or regulations regarding short-term rentals. Airbnb provides resources to help you understand your tax obligations and any legal requirements in your area. It's always a good idea to check with your local government to ensure compliance before renting out your home.
8. Can I rent out my home while I'm still living there?
Yes! Some people rent out a portion of their home, like a guest room, while they’re still living in the property. Others rent out their entire home while they’re away. We chose to rent out our entire home while we were out of town, and it worked out perfectly.
By addressing these common questions, hopefully you feel more confident about renting out your personal home on Airbnb as a way to make extra money. It’s a flexible, safe, and lucrative option for those looking to bring in additional income, whether for saving or during times of need.
Final Thoughts
If you're considering renting out your personal home on Airbnb as a way to make extra money, I highly recommend it. Yes, it feels odd at first, but the financial benefits far outweigh the initial weirdness. It really is a fairly easy and quick sidehustle. Plus, with Airbnb’s insurance, you can rest easy knowing your home is protected. For us, the experience was nothing but positive, and it helped us through a difficult time while putting us on track to achieve our financial goals.
So, if you're looking for ways to make extra money, give Airbnb a try! You might just be surprised at how easy and profitable it can be.