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Blog - Is Airbnb Hosting Right for You? 9 Reasons Why or Why Not

Is Airbnb Hosting Right for You? 9 Reasons Why or Why Not
By Madison Perry 1/9/2018 8:54 AM Comments

Airbnb hosting is taking the world by storm.


As of this writing, there have been over 2 million listings on Airbnb. That’s a lot of people who want to share their home with others.


With that statistic, a question then comes to the forefront: why are so many people open to sharing their home with complete strangers?


Well, that’s because they answered the other important question: “why would I want to get involved with Airbnb in the first place?”


You may have similar questions. This is why we’ve laid out some reasons as to why you may want to consider taking the plunge and becoming an Airbnb host.


1. Do you want to earn more money?


The prospect of financial gain is very desirable to many potential Airbnb hosts.


According to Priceonomics, the average Airbnb user makes $924 a month from their listing.

Obviously, you can make less...but you can also make more. What would you do with an extra $1000 in your pocket each month? Think about it.


If you need help figuring out potential pricing and how much your home may be worth on the market, the startup Eliot and Me has a free online calculator that will help you with your pricing.


All you have to do is put in your address and voila! You’ve got pricing estimates for your home. You can even “claim” the home as yours and put extra information to get a more accurate listing.

2. Do you have extra living accommodations?


Many of us with homes or apartments have a spare bedroom or some other room that we use as a convenient place to store extra things that we’ll use someday in the future (*cough* junk *cough*).


What if you were able to clear out those things and free up that extra space?


You’d have a spare bedroom that you could use as an Airbnb listing of course!


Think about it: you’re not using the room often. It’s just sitting there (literally). Wouldn’t it be more profitable to have someone occupy that space?


3. Are you hospitable/people person?


Think about it: you’re renting your home out to potential strangers and you’re using your living accommodations as a hotel of sorts. You’re in the hospitality business.


You need to be open and welcoming if you want to be an Airbnb host (double that if you’re going to achieve the coveted Superhost moniker).


If you find it easy to be hospitable towards others, you are well on your way to being a great Airbnb host.


4. Are you somewhat adventurous?


Let’s face it: running your home like a hotel takes some guts. Your home is your last refuge from the outside world.


You need to be intrepid to embark on this relatively new experiment.


5. Do you like challenges?


If you’re someone who’s always up for a new challenge, you’ll find it incredibly easy and fun to be an Airbnb host.


Not only do you need to act as a Hospitalier, but you need to clean your house like a hotel, stock supplies like a hotel, and go above and beyond expectations.


If you feel like this is too much effort, then being an Airbnb host just isn’t for you.


6. Do you live in a dense metro region?


If you live in an area like Los Angeles or New York, there are always people coming in and out of your city at a rapid pace.


This means you’ll provide an attractive short-term option for people who are in town for “just a weekend” or a week.


Many Airbnb hosts who live in cities like these find that their turnover rate is very high and they can keep funneling guests in and out like a bread factory.


That means more money in a shorter period for you, especially when there’s a big event in town.


7. Do you live in a highly touristed area with few accommodations?


On the flip side, you may live in an area where there are few accommodations for tourists.


For example, you may live in Moab, Utah. What’s in Moab that would be of interest to tourists?


The Arches National Park of course!


If you run a listing in this area at peak season, you could stand to make a significant amount of cash.


It’s something worth considering.


8. What are your goals?


When you deciding whether or not to take the plunge to be an Airbnb host, you need to determine this: what are my goals and how will this help me get there?


A lot of the goals that we want to achieve require money. If you want to buy a new car, a new guitar, a new addition to the house, you’ll need money to acquire them.


As previously stated, an Airbnb listing can be an excellent source of extra money. If you have a financial goal, it’s worth considering this course of action.


9. Are you willing to work for your money?


Airbnb hosting is not passive in any way, shape, or form. Airbnb hosting requires a lot of work. From cleaning to buying supplies, to answering customer inquiries, it takes a significant amount of work to run your home like a hotel.


You could offload some of the duties to someone like an assistant, but there’s only so much you can delegate.


You own the home; you’re in the driver’s seat. You’re responsible. It’s like going to work at a 9-5 job. No one else will do it for you.


We hope this list of reasons gave you a good 360-degree view of what it means to run your own Airbnb listing. It isn’t effortless, but it can absolutely be rewarding in terms of the financial rewards and human connections you make along the way. It’s certainly worth an experiment.

Make sure you’re prepared for the unexpected when considering renting out your place. Learn how another Airbnb host does just that!!

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