Renting out a room in your home on Airbnb brings the world to your door and can be lucrative. Some millennials are counting on Airbnb income to help them pay for their first home. For homeowners over 50, Airbnb might just be what helps them hang onto their homes. Either way, hosting through Airbnb or a similar home-rental company is a business, and like every successful business, a well-thought-out strategy is needed.
Hosts in more than 465,000 U.S. homes, including condos and apartments, had Airbnb guests last year, according to the company. The guest wish-list includes homes in Savannah, Ga., the Florida Keys, and Hood River, Ore., among many other places. Some people rent out their whole house or apartment for short periods; others offer a private room, a shared room, a carriage house, or even a tree house nestled in the woods.
New homes are being built with income-producing space included, says Bobby Berk , a designer of interiors and products. He’s working with builders to create these homes in Las Vegas. Here’s what Berk and other designers suggest doing if you’re thinking about becoming an Airbnb host. The ABCs of Airbnb
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