5 Questions to Ask Yourself Before you Rent out a Room on AirBnB
You Would Make a Great Airbnb Room Rental Host If…
Last weekend I took my AirBnB room rental guest to my friend’s Superbowl party (thanks, Lauren). Because… why not? He likes football. I don’t have CBS at my house. And, otherwise this poor kid would be watching a superbowl game alone at some random bar around people he doesn’t know. Instead, he got to meet new people and have a friend group for the evening.
I’m extroverted. I love meeting new people. And, I’m always up for helping people connect and have fun!
If this is how you naturally approach life, then AirBnB hosting might be a good option for you!
I started renting out my house when I traveled on AirBNB and renting out rooms when I’m traveling, and it’s allowed me to live close to mortgage free in 2019!
Also, getting good reviews helps with my occupancy rate, which in turn helps me continue to live mortgage free. Learn more about how I live mortgage free through Airbnb room rental.
Some of my Airbnb reviews:
But, when I talk to my friends and family about “STRANGERS LIVING IN MY HOUSE” they think I’m crazy. But, not only does renting out a room on AirBNB tranfer most American’s largest expense into an income stream, it allows me to “fill my travel void” while I’m at home!
5 Questions to ask yourself:
Are you extroverted, social and friendly in your “off time”?
I’ve had room rental guests who I brought to parties, invited to my TedX Talk presentation, taken to yoga, and drug along to sub on my volleyball team. Although you don’t need to socialize with your Airbnb guests to get good reviews, I’ve found it to be an added perk - and I’m a Superhost!
At the very least, if you’re hosting on Airbnb, if you feel like chatting with someone is a “chore”, then hosting will be very exhausting, so I might consider another house hack or side hustle!
Do you naturally keep things tidy?
One of my favorite things about hosting on Airbnb is that it’s forced me to be more intentional about things in my home. I’m slowly becoming a minimalist!
When you have multiple people share one kitchen, one bathroom and shared living spaces, in the same way you would hope your guests will “put things away,” you need to make sure you’re doing the same! Your guests will be less stressed if you have things put away instead of leaving your personal things out and about! Little things like using a Clorox wipe on the sink after you cook and after you get ready in the morning will make guests feel more respected!
Do you like money and freedom?
I’m living mortgage free by renting out a room on Airbnb! What am I doing with the extra? Reinvesting in property and investing so I can reach Financial Independence by 45! Renting out a room has also allowed me to have the freedom to travel without “feeling guilty”.
For example, for the last quarter of 2019, I have a goal of bringing in $1,200 a month via Airbnb. 100% of that income is going toward investing & my next property. What’s happening to the remainder if I make more? I’ll either invest it too or extend my December international travels!
Do you have a flexible schedule?
This is a key thing I would consider after talking to other individuals who have attempted to host unsuccessfully on Airbnb. Guests usually check out by 11am and the next guest is coming by 3pm. So, you need to have time to clean, wash laundry and set up for the next guest. If you have a regimented 9-5, running home in between meetings to “set up” could be very stressful. You could always put a “gap day” between guests. For me, having a co-host and a flexible schedule has helped this side hustle almost feel like 100% “passive income”.
Do you have backup and support?
I highly recommend having a co-host or back-up support, especially if you’re hosting to create freedom in your life! I’ve had two Airbnb guest emergencies when I was in Belize, and it was wonderful to have co-hosts that could show up to put out fires!