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Airbnb’s growth is expanding in more ways than one. Not only has the platform’s popularity grown to over 3 million listings in over 190 countries, the company is also taking huge strides to diversify its product offerings. Hints and rumors surrounding recent activities have users envisioning an app where an entire trip can be planned and booked. As a major benefit, this planned growth offers up more than one way to earn extra income. So, let’s shake the $31 billion Airbnb money tree and see what we can get! Here are three ways to earn money as a host on the Airbnb platform.
If you’ve made it to this post, you know offering your home to travelers for a nightly rate is the company’s claim to fame. The flexibility of the platform and its attractiveness to Millennial travelers has spurred a variety of listings that excite travelers with a new way to stay.
Whether you rent or own, if you have a space – share it. Airbnb allows both entire home rentals and shared space rentals. So whether you want to offer your home while you’re out of town, have a spare room, a vacant couch, or a tent in your backyard, there’s opportunity for you to become a host and earn money with Airbnb. This is great assuming you have the time to host guests or your apartment building allows short-term rentals. Airbnb’s second hosting option can solve both these problems and has three unique use cases that attract users.
Last year, Airbnb began testing its co-hosting service aimed at helping hosts who either want expert advice or need an extra pair of hands. The platform provides a list of experienced local hosts who’re willing to help manage reservations and provide some relief for the overworked host – for a small fee, of course. Co-hosts can pitch-in and handle options ranging from listing set-up to guest reviews and reservation turnover. Their fees typically range from 15-25%.
Secondly, if you have your listing down pat, become a co-host yourself. The flexibility of the service makes it easy to set your own schedule, and all payments are easy and secure through Airbnb. A $500-weekend reservation could easily earn you $100. Extra props if you’re a Superhost!
Lastly, Airbnb provides an option called theCo-Host Marketplace, for those who want to host but don’t have the space to offer. This co-host option is currently available in only 6 markets but picks up on the Task Rabbit or Thumbtack sharing economy mentality and allows individuals who have the time and desire an opportunity to earn extra income through the platform. Expect Airbnb to roll out additional locations, eventually.
Airbnb’s also banking a lot on their new initiative, called Experiences (originally nicknamed Trips), where “Experience Hosts” are, “chefs, hikers, or just knowledgeable locals who want to show others little-known pockets of their community,” according to the company’s landing page. As an Experience Host, you act as a new and improved sort of tour guide and host people through a single experience that lasts anywhere from a few hours to a full-fledged multi-day adventure.
Airbnb, however, requires your unique experience to meet their quality standards. According to the site, you need to be credible, genuine, and empathetic and your experience needs to be something travelers wouldn’t have taken part in without you; by providing a unique perspective and level of participation that traditional tours wouldn’t offer.
Experiences are currently available in select cities, and Airbnb earns 20% commission from each booked experience unless you’re part of a non-profit organization, in which case you keep all profits.
These new hosting options allow for a greater number of individuals to participate as a host on the platform, and while these new hosting features are still in their infancy, keep an eye on them as they’re nurtured in an effort to continue Airbnb’s game-changer travel status.
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