Airbnb Rooms: make extra money to pay off your bond
If you are like me and have a bond, you know that the interest rates and all the financial costs can be draining. But there may be an option to make some extra money through Airbnb.
If you bought a house this year and took out a home loan for about R1.4 million, your bond payment is around R13 000 per month, depending on various factors.
It may be a great idea to rent out or Airbnb that extra room to make a bit of cash to add to your bond.
Yes, I know what you're thinking, a stranger in my house, the horror! But it's not so bad. I have used Airbnb and Facebook groups like Huis Huis for years now, and they provide some added value, safety and a platform to meet other like-minded people.
AIRBNB ROOMS
Airbnb has now introduced a new feature to its platform. Rooms is “an all-new take on the original Airbnb, offering more affordable ways for guests to experience a destination by staying with a local”.
HOW DOES IT WORK?
“Airbnb Rooms feature an all-new way to search for private room stays with a dedicated Rooms Category, learn more about a Host via their Host passport, as well as ways to narrow one’s search using additional filters and expanded privacy features”.
The concept of renting out a room on Airbnb is not new, but the company has seen growth in this initiative.
“Last year, nights stayed in a private room listing grew by 40 percent compared to the year prior, pointing to travellers seeking out more affordable travel amid rising cost of living. In fact, more than 47,000 cities had at least one private bedroom listing with an average price of under $50 (R914) last year”.
Airbnb goes on to say that “private bedroom listings are one of their most popular types of stay for guests, with the Private Room Category (now “Rooms”), the third-most booked category since they launched Airbnb Categories last May“.
YOU CAN MAKE A FRIEND
The company argues that the Rooms feature is a unique way to see a city by staying with a local and therefore making a friend.
I have also, over the years, used Huis Huis on Facebook to rent out my rooms. This platform is a group that requires you to apply to be admitted.
Once you have been admitted, you can easily advertise your room or apartment or house on the group for the desired period. But it should be noted that your advert will also be scrutinised by the administrator of the group.
Huis Huis is more of a long-term rental platform and allows you to easily see and chat with the prospective tenant through Facebook messenger.
The fact that the group has an admin oversight body creates an air of safety and peace of mind, but like with all things on the internet, one should always be vigilant.
HAVE YOUR SAY
Do you use Airbnb as your side hustle?
— Business Report (@busrep) May 4, 2023
BUSINESS REPORT