Recoup holiday travel costs by renting your space on Airbnb

Ah, holiday travel. It makes this time of year more festive, right? No? Let’s be honest. Holiday travel can be crowded, stressful, and most of all expensive. But you may be able to earn some of that money back by becoming an Airbnb host, where you provide space for guests who pay to stay.

Peak holiday travel crowds put a high demand on accommodations. While you’re traveling out of town to visit relatives and friends, others are arriving for the very same reason. Rather than leaving your single room or full home empty, why not rent it out on Airbnb and perhaps earn some extra money for the holidays?

Potential earnings

How much could you make hosting on Airbnb? They provide a tool that helps estimate what you might earn based on other listings in your area.

Airbnb makes the payment process simple, too. Guests are charged when a reservation is made, and funds are typically released to hosts 24 hours after check-in. How you’re paid is up to you: You can set up direct deposit, PayPal, or a number of other options. Creating a listing is always free.

Time commitment

Getting ready for a trip can be hectic, but hosting on Airbnb doesn’t have to be a full-time job. The online process to create a listing is straightforward-you write descriptions of your space, upload photos, and mark dates your space is available to travellers. You can also access your account via the mobile app. So, if you’re out of town, you can still easily stay in touch with your guests.

As a host, you can be as hands-on, or as hands-off, as you want, ranging from meeting guests at the airport to directing them to your hide-a-key to check themselves in. Many hosts who rent their full home charge a cleaning fee to cover the cost of a cleaning service, so they don’t have to launder the linens and mop the floors after each guest’s stay.

If you want to rent your space but just don’t feel like you have the time at all, consider a co-host , which is a fellow host on Airbnb who will take care of hosting duties on your behalf, in exchange for about 10 %-20% of booking earnings.

Host support

Allowing strangers into your home might feel a little strange or scary. You can get a sense of what to expect by visiting the Airbnb Community Centre where experienced, successful hosts tell their own stories and can answer your questions. Also visit the Airbnb blog for insights on getting the most from your available space.

If you’re nervous about the safety of your home and belongings, Airbnb’s got your back: In the rare event an accident happens, our host guarantee may cover your property up to a million dollars per stay-it’s peace of mind for you at no extra charge. And as for the folks staying at your place, everyone who travels on Airbnb needs to submit a profile photo and confirmed phone number and email address. For extra assurance, you can also require your guests to submit a government-issued ID.

Getting started

Visit the Airbnb host site to explore resources, learn about host expectations, and create your listing. Start hosting now and maybe earn some extra cash on the side to give your holidays some extra jingle!