Airbnb Guides: Why Homeshare Services are Not Just Vacation Destinations

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You might be surprised to learn that more and more Americans have been considering renting a home as a far more advantageous decision than buying one. It’s true that things in the United States have changed dramatically since the 1950’s when most were taught to go to school, find a job, buy a home and raise a family. But, the world has changed, and so have our priorities.

Today, you don’t have the job security that was once so prevalent in the mid-to-late 20th century. As such, making a 30-year investment in buying a home isn’t as safe an option that it once was. Additionally, employees are far more likely to have to move cross-country in order to move up to higher-paying positions or to advance their careers in different fields.

While renting might be the current trend over homeownership, those who do purchase homes are able to capitalize on the growing population of renters in the country. And, this includes the use of Airbnb services.

Not Just for Vacation

You might correlate Airbnb with vacation rentals, but the Airbnb clientele market is actually much more diverse. While many Americans love their vacation time, many have been diverging from the traditional path of staying at resorts and hotels. In fact, more have begun to make the switch to Airbnb or homeshare services. But this isn’t just evident in the vacation marketplace.

For example, there are numerous jobs that require extended travel time such as with many contractor jobs, traveling nurses, insurance adjusters, etc. While in the past many of these professionals would rent a furnished apartment or condo for a few months, more are now utilizing extended stay rentals on Airbnb.

Correspondingly, homeowners who rent their homes through Airbnb are noticing this trend, and offering longer stay packages that are much more attractive than traditional options. In fact, you can make a significant and consistent amount of money by offering extended stay packages as an Airbnb host.

How Much Money Can You Make with Airbnb?

This is the million-dollar question. Unfortunately, there’s no universal answer for the amount of money you can make with Airbnb. Making money with Airbnb combines many variables, and most of these have to do with the services and amenities you offer and your location.

The latter is the biggest driver for making money with Airbnb rentals. People tend to take vacations in areas known for tourism. Unless you live in or reasonably near one of these areas, you’ll be subject to a much different market of clientele, typically of those who opt away from traditional hotel stays.

While location matters the most when looking for a place to stay for vacation, the amenities a place offers are also a critical deciding factor.

People are creatures of habit, convenience, and comfort. Here in the United States, we’ve become so accustomed to our preferred lifestyles, that when we go on vacation, we expect the same comforts and conveniences of home. Quality amenities offer vacationers the comfort and convenience that they’re used to at home, while hopefully adding some perks that one would otherwise not have available.

So, unless you live in a prime travel destination, your amenities will be the main factor in estimating how much money you’re able to make as an Airbnb host.

Is Airbnb Here to Stay?

While many Americans are used to the nature of trends that come and go as quickly as the latest meme on Facebook, Airbnb has actually been around for a while.

In 2008, Airbnb was launched in SanFrancisco. In the last decade, Airbnb has expanded globally and is now operating worldwide. And, with the recent rise of the COVID-19 pandemic, Airbnb rentals have proven to be a valuable service for those who want to play it safe and stay away from crowded hotels.

As more people begin to take advantage of Airbnb rentals, and with the trending desire to rent rather than own, the popularity of homeshare services is only set to rise.