The benefits of becoming an Airbnb host are many and priceless. And as Airbnb continues to flourish as an effective tool for short-term rental owners to promote their units, there’s really no reason why you shouldn’t join the bandwagon.
If you’re wondering if being a host on Airbnb and other home sharing platforms like HomeAway and VRBO is worth it, then this article is for you.
Below are some of the perks of becoming an Airbnb host:
Earn additional money
Having extra income is the most obvious benefit of being an Airbnb host. It’s possible to amass a bigger revenue overall than simply letting your rental. Some property owners have found it to be lucrative that they’ve decided to become full-time hosts.
Of course, your income as a short-term rental owner will still depend on a lot of factors. Location, # of rooms available, accessibility to public transport and top attractions, and the overall effort you put in to offer a wonderful experience can affect your earning potential. The stream of cash from hosting will definitely give you a regular monthly income (mostly passive), allowing you to use your time however way you want to. This leads you to…
Enjoy freedom and flexibility
Being a short-term rental owner surely not for everyone. Many people prefer the stability of a 9-5 job. While others crave for freedom and flexibility. If you fall on the latter category, then good news for you.
One of the benefits of becoming an Airbnb host is that you have absolute independence and control on how you want to spend your time. Putting your rental property up on Airbnb means you can allot more time to do things that you love and care about.
Whether you want more quality time bonding with family and friends, doing your hobbies, exploring the world—all these things and more are doable with Airbnb hosting. Even more so when you get a property manager to handle all the tasks that come with short-term rental.
Incredible tax advantages
Owning a rental property and being an Airbnb host means you’re entitled to big tax benefits and deductions. Firstly, your short-term rental earnings are tax-free!
Other taxes that you can write-off:
- Mortgage interest
- Credit card interest on purchases for the rental property
- Repairs and maintenance
- Travel expenditures
- Legal and professional fees
- Property taxes
These tax rewards will no doubt boost your profit and ROI.
Diversify your investments
You probably have money invested in the stock market or other real estate properties. But Airbnb hosting and short-term rentals involve a totally different market versus other forms of real estate.
Now, if it’s not yet part of your investment portfolio, short-term lodgings can be an incredible way to get started in real estate.
Plus, by diversifying your assets, you also help protect your investment portfolio against market volatility.
Meet new people when Airbnb hosting
Another benefit of becoming an Airbnb host is that you’ll get a chance to meet many new and interesting people from around the world—virtually and or in real life.
These guests will most likely come from all walks of life, visiting your city for various reasons. Some may be business travelers attending a seminar nearby. Others may be families with young kids looking to explore a theme park in your area. Regardless of the type of guests you welcome into your rental home, one thing’s for sure—you wouldn’t otherwise have met them if not for Airbnb hosting.
If you’re lucky, some guests even become regular ones, valuable connections, and even lifetime friends.
Learn new skills
Short-term rental owners pick up a lot of new skills just by being an Airbnb host. You can quickly build skills in numerous areas like customer service, marketing, communications, negotiations, finance, Airbnb listing optimization, and of course, hosting and managing a business.
And yes, you’ll also learn a thing or two from guests staying at your rental unit. Whether they’re foreigners or locals, every visitor you host is unique. There are a ton of cultures, backgrounds and life experiences you could possibly learn from. All these things will definitely enrich you and broaden your horizon.
You don’t have to do the hard work
While the benefits of becoming an Airbnb host are great, it still requires your time, energy and effort. But the good news is that you can choose to skip all the dirty work. Just hand it over to Great Dwellings.
Be completely worry-free and just enjoy your earnings as we take care of the rest. From rental cleaning, key exchange, listing and marketing your Airbnb, 24/7 guest support, our team manages everything for you. You can simply wait for the monthly check while you’re off to some exotic paradise across the globe. That’s not even a hype!
The benefits of being an Airbnb host are priceless. This is especially true because the short-term rental market is likely to keep growing.
But to fully maximize its perks, you should seriously consider hiring a full-service property management company. With Great Dwellings as your partner, you can be assured that you gain all these awesome benefits minus the awful stress! Become a host today!