Renting out rooms: learn how to earn extra income

Over the last decade, a trend has been gaining more and more strength around the world: the rental of rooms.

Whether for a season or for a longer stay, the practice has become quite popular after the emergence of apps like Airbnb. It has become increasingly common, as it is an excellent way to make the most of that extra room you have in your house that you don't use.

In today's content, we explain a little about Airbnb and help you decide if this room rental area is a good option for you! To make it easier to read, the text will be divided into the following topics:

• Why rent out extra rooms?
• What is Airbnb?
• Is it a safe option?
• How much does a host earn?
• How much to charge for rent?
• How to List Your Spare Room on Airbnb
• And in cases of fixed residence?
• How to prepare the room to receive your guests?

Why rent out extra rooms?

Some people are mistaken in thinking that this is a common practice only in tourist cities. Of course, coastal cities and large urban centers receive more attention due to the “tourism” factor. But there is also a large portion of people who prefer quieter places, opting for cities that are less crowded and less crowded.

This is a great opportunity for those who have that extra unused room at home.
Among the alternatives below, which one seems most attractive?

a) keep that vacant room still, closed and unused?

or

b) rent safely, and thus be able to guarantee an extra income at the end of the month?

What is Airbnb?

Airbnb is a platform created to connect travelers with people who want to rent available spaces for temporary housing. The spaces range from rooms and shared houses to apartments and luxury properties around the world.

The platform also has a 24-hour support service to answer questions or help with refunds, reversals and rescheduling of reservations.

Is it a safe option?

This is probably the first question that anyone who has never rented a room online asks themselves. To make the experience safer for both parties, Airbnb offers a rating system, both for hosts to leave reviews of guests and for guests to leave reviews of hosts.

In addition, the company recommends that the host request a copy of the identity document. Researching the guest and having a brief conversation via the app's chat are also recommended practices. And negotiation and payment are carried out entirely online, directly through the platform. This way, the insurance contract against material damage or third party damage will be valid!

How much does a host earn?

This question is very relative, and the answer depends on many factors, such as location, structure, time of year. For example: if you rent your room R$ 70 per day, and carry out two 4-day rentals per month, you can earn more than R$ 800 per month!

How much to charge for room rentals?

Before you decide on the price you will charge, there are a few factors to consider. A quick search of the prices that people in your city – and nearby places/places similar to yours – are charging is a great way to get a sense of the final rental price.

Other points to take into consideration, which can help increase the amount charged, are:

Structure: in this section, you need to take into account everything that involves the room, from the size of the room to the quality and condition of the furniture that you will provide to guests, for example.

Promotional prices: As you are just starting out renting and these are your first experiences as a host, it may be interesting to start renting with lower prices and increase them over time.

Only after better understanding the supply and demand in your city/area and making a general survey of the services you can offer will you be able to arrive at a fair, attractive and, still, profitable price.

How to rent your room on Airbnb

Any host who has a room – or an entire property – available can list their space on Airbnb. To do so, simply register on the platform and write about the space. This information will be shown to travelers looking for accommodation similar to what you are offering. Prioritize information such as:

• well-taken photos of the environment;
• the general characteristics of the space; 
• the amenities the place offers
• house rules and routine;
• location information.

As for payment, guests are charged before arrival, and the host is paid automatically after check-in. This helps with transaction transparency, ensuring greater security for both parties.

And in cases of fixed residence?

Since Airbnb has a greater focus on serving only temporary travelers, longer stays – such as permanent housing – are not handled by the platform.

When offering a room for rent for permanent residence, always try to get as much information as possible about the person who will be renting the space. After all, they will be living in the same house as you. Therefore, conduct interviews, search for profiles on social networks and give preference to people with friends in common, as this way you will have good references for that person.

How to prepare the room to receive your guests?

To attract more and more guests, you must invest in comfort and convenience. To do this, you need to invest in things like: comfortable bed/beds, quality furniture, and good decor.

All of this will help make your guests feel at home, encouraging them to leave positive reviews and testimonials about their stays.

As it goes well and makes money, you can invest part of that profit in the room itself, making improvements and adaptations so that you can continue to offer quality experiences to your guests.

Finally, it is worth mentioning that this type of room rental has become an increasingly attractive option for those who have an extra room available. So, if you – like thousands of Brazilians – are looking to earn some extra money to help with your monthly budget, this could be the ideal option for you!

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Nathalia Silva September 17, 2021