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The sharing economy is quickly becoming a way of life for many Americans. Ridesharing, coworking and co-living arrangements have proved to be not only acceptable but preferred. Before the revolution of all things shared, we rigidly looked at our travel plans in terms of fixed costs and the number of days we could afford to enjoy ourselves. But all that has changed. Leaders in the sharing economy like Airbnb have made it possible to have your own piece of swanky real estate to call your homestead and still travel the world as much as you want. You don’t have to sacrifice living space for travel.
“True freedom resides in being able to travel the world by becoming a digital nomad, having no boundaries or borders to abide to, while being able to live and work from anywhere in the world.” – How To Become A Digital Nomad And Travel The World, Forbes.com (@Forbes) Jan 20, 2017
Business Travel Has Its Benefits
Traveling for work can be grueling; flight delays, back-to-back meetings, and eating on the road can all take their toll. Thankfully, travel does have an upside; visiting new cities, racking up frequent flier miles, and having variety in your day-to-day routine are all great perks. Add to these perks the ability to create an additional revenue stream as an Airbnb host and professionals can see their take-home income soar. Perhaps that’s why 78 percent of millennials want the option to lease their units short-term to allow for flexibility and extra income. Here are the top 10 professions that are flocking to Airbnb friendly buildings.
10 Professions that Love Airbnb Friendly Buildings
1. Airline Pilots
Commercial airline pilots spend an average of 12 to 15 days per month in the air, not including their commute time. If they don’t have a family waiting at home, that’s a big chunk of cash wasted on an empty pad for half of every month. Since most pilots commute to work from another city, they often end up shelling out even more money on a crash pad. Many pilots are opting to sublet their apartments on sites like Airbnb in order to create an income stream using their empty apartments.
The rise of millennial culture has made flexible work arrangements –that many baby boomers and Gen Xers only dreamed about– an expectation. Many freelance writers, graphic designers, developers and community managers are using the freedom that working independently provides to work from anywhere in the world. They hop from spot to spot, Bali to Buenos Aires, savoring the local culture while still earning a living. These freelancers are often characterized as digital nomads, but many still crave their family connections and keep a flat near their loved ones. As the creators of the shared economy, they don’t waste a penny on empty living space. They sublet their apartments on Airbnb while they are away of course!
3. Travel Nurses
We’ve all heard about the shortage of nurses in the United States that has basically made it possible to pick and choose from a variety of positions at very competitive pay rates. The travel nursing sector sprung up as a way to fill the demand for nurses in underserved or remote areas of the country. If you’re an R.N. looking for something different in your day-to-day, travel nursing could be the answer. These R.N.s typically spend, on average, 13 weeks away from home. Renting out their apartments during their assignment could prove to be the perfect combination of excitement and extra income.
4. Cruise Ship Employee
If sailing the high seas floats your boat, then you’ll likely spend months on the ocean cruising to your pick of exotic locales from Playa del Carmen to the Isles of Greece. Cruise ship jobs don’t require much prior education or training, so many millennials are turning to these positions as a source of free travel. And, returning to extra cash after a long sea journey is a definite plus.
Today’s sales jobs don’t typically include long drives throughout the interstates of America selling vacuums door-to-door, but they do require a large amount of travel. Whether you spend a couple of days in New York making a sales pitch to clients or two weeks in Tokyo, if you live in an Airbnb friendly building, you can rent out your apartment and turn a profit while you’re out of town.
6. Flight Attendants
Being a flight attendant has afforded many generations with the opportunity to travel the world at little to no cost. In the 1950s and 60s, airlines billed the job as a non-stop, glamour-filled adventure. And it is true, they do get to see a lot of the world; parts unknown to the average traveler. Every once in awhile, they even have time to sip a Mai Tai in the hotel bar. However, the pay isn’t spectacular and pushing that drink cart is physically demanding work! Flight attendants spend 120 very long days a year up in the air. 21st-century flight attendants are choosing more and more to make their dwellings part of the shared economy. It can provide an additional source of savings or extra cash to invest in an upgraded living space.
Consulting work is an exciting field that many millennials have turned to in order to apply their often diverse skill sets. Projects can be short-term or last years. Many times, consulting work requires frequent travel since clients are not typically based in your home city. Consultants spend almost as much time on the road as flight attendants at 110 days per year, so why not capitalize on all of those amenities in your multi-family apartment building and attract a few short-term renters?
Athletes spend a lot of time away from home chasing their next win. It’s a match made in heaven for the thousands of amateur athletes that are truly playing for the love of the game and need some form of backup income to fund their dreams. Amateur coaches and trainers can also reap some monetary rewards for their hard work and dedication.
Whether it’s on the campaign trail or in session, politicians spend a lot of time away from the hearth as well. The United States Congress is in session 133 days of the year. That’s a long time to leave the nest empty, so having a short-term renter can be ideal for all parties involved. State legislatures are in session for less time, but many state reps and senators are paid a penance. Politicians can serve the public without paying a hefty price tag to do so if they put their homes on the short-term rental market.
Covering breaking news in exotic locales can be a heart-pounding experience. Journalists have to go where the story is, which means they are often away from home for long stretches of time. One of the best things about Airbnb for journalists is that you can list your property as a short-term rental the minute you get called away to your next assignment.
Whether they have a regular gig requiring predictable travel or a freelance position, Airbnb friendly buildings have become desirable to all types of professionals who travel for work. Multifamily building owners who provide the option for residents to rent their units short-term will continue to attract traveling professionals and others who want to participate in the sharing economy. Pillow’s multifamily partners utilize this valuable amenity in their marketing efforts and it’s been paying off. Being Airbnb friendly is differentiating them in lead generation efforts and helping their buildings outperform others. The global nature of today’s economy is swiftly moving the residential markets into the shared economy, so don’t miss out on being amongst the most cutting-edge, multi-family properties.
Writer: Todd Conway is Co-Founder of Pillow | June 18, 2018