Earlier, renting houses was more of an option than renting your rooms. If you had an investment property like a second place, vacation or beach house, or a farmhouse, then that was what you could rent.
Now, you aren’t limited to that. You can now list just a room in your own house on renting apps like Airbnb and HomeAway. Renting a place or a room for small periods is getting more popular because traveling is becoming one of the most carried out activities.
Airbnb is the market standard for renting your place, especially for short periods. It is one of the easiest and most popular services to start out with.
- You have to start by creating an account.
- List your property through your account.
- Post photos of your space – room and the surroundings.
- Describe your space.
- List the amenities available.
- List all the nearby attractions to stand out amongst the rest.
Your house will receive more appeal, and you will start getting a higher rate if you provide excellent service to your guests.
HomeAway is another rental service that is getting more traction day by day. The process works the same as Airbnb. It is more focused on providing vacation homes though, like beach houses, cabins, condos, etc.
If you happen to have one, then you know that it is used by you just once or twice a year. You still have bills to pay to keep the place fit for use. Not to forget the mortgage if you have one. Renting your vacation homes is a great way to bring in some extra cash and also keep the place occupied.
When you are not using the place, you can turn it into a side income. Many people have turned it into a proper business. People who invest in properties get another lucrative deal out of it. With apps and services, it is easier to get people in without having to take much of an effort. It also brings people from all over the world, so you can have your place occupied at all times.
The involvement of third-party apps and services work the same as that of an estate and/or rental agents, but this method is more effective as it is more widespread and more global. You do not need to have a lot of properties to make a considerable amount of profit, even just your extra room in your home can bring in some nice cash for you.
Renting out a room in your home can be a good chance to network while making some cash on the side. Since people come from different places, it is a good opportunity to learn about different ideologies and cultures. You can also pay off a part of your mortgage with the rent money, which is a win for you for a room that wasn’t even being used.
Travel culture has helped many industries boom in the current times, renting your place has to be on the top of the list.