Renting your property on Airbnb is a nice side gig. However, there are many ways through which you can diversify your Airbnb income. Most hosts haven’t thought beyond the traditional nightly stays.
Guests are always looking out for thrills during their vacations and staycations. There are plenty of opportunities you can unearth that will boost your overall earnings. Herein, we explore creative and practical ways to expand your revenue streams as an Airbnb host.
Experiences and Activities
You can earn extra cash by providing tailored experiences to your guests. Whether you are a professional chef, nature lover, or talented guitarist, you can share your passion with your guests.
All you need to do is curate events that will leave your guests with a memorable experience. For example, you can organize a hike and add dinner in nature to sum up the day. Such activities will provide value to your guests while generating additional income.
Collaborate with Local Businesses
You can collaborate with local businesses to offer exclusive deals and discounts to your guests. In turn, the business owners can pay you a small commission for the referrals. Think about collaborating with businesses such as spas, pet groomers, or entertainment joints.
The service providers can curate special packages tailored to your guests’ needs. Create an Airbnb welcome book with recommendations to local businesses you collaborate with. This will enhance the overall guest experience while earning you side income from the businesses.
The flexible rental option is one area where Airbnb hosts beat hoteliers. Even though most customers rent for short periods, there is a demand for long-term stays. Most travelers prefer Airbnb over staying at a hotel because they are more homely.
Consider offering your space for monthly rentals, especially if you’re in an area that’s popular among digital nomads or backpackers seeking temporary accommodation. With this approach, you are assured of a steady stream of income from your property.
Nowadays, most people travel with their pets on holidays and vacations. However, fewer hotels and hosts are offering pet-friendly accommodations. You can take advantage of this by creating a space that is welcoming for guests and their furry friends.
Implementing pet-friendly amenities and policies can attract a broader audience, increasing your booking potential. Also, as mentioned, you can collaborate to offer out-call pet cleaning and therapy services.
Property for Events and Photoshoots
You can also diversify your Airbnb income by leasing your property for corporate or family events. Explore the corporate market by targeting business professionals looking for temporary accommodation. Ensure that your space has all the necessary amenities such as high-speed Wi-Fi, power backup, and a home office.
Also, if your property has unique aesthetics and architecture, consider renting it out for events, photo shoots, or film productions. Take good care of the property, ensuring that the outdoors and indoors are well maintained.
Diversifying your Airbnb income goes beyond simply renting your space for nightly stays. You can offer extra services for a small fee while providing guests unique and memorable experiences.