the pandemic has had a profound effect on the way people travel and work. More and more people are now choosing to rent their homes through Airbnb to combat the costs of rising inflation and earn extra money. For some, it created the ultimate stampede.
This is great news for Airbnb, as they have seen a significant increase in bookings over the past few months. However, new Airbnb hosts have been hard to find with only 7% more active listings recorded in the fourth quarter of this year than the same period last year, which is somewhat disappointing given a 59% increase in bookings globally during the same period.
Huge demand from nomadic workers
Remote work has been one of the few benefits of the pandemic, and now nomadic workers are extending their stay for weeks, sometimes months at a time. According to Airbnbthe company saw a 16% increase in stays over 28 days or more compared to the same period in 2019.
A staggering statistic shows that one in five nights booked on the Airbnb platform during the third quarter were for stays of 28 nights or more.
This scenario helped Airbnb make more than $55 million in profits last quarter, suggesting the travel industry is finally bouncing back after two years of turmoil.
Side Hustle as an Airbnb host
Airbnb hosts earned $12.8 billion in the third quarter, a 27% increase from 2019, and with the company struggling to add new hosts to the platform, owners have a chance to earn extra income by signing up to become an Airbnb. Host.
“The typical American host earned more than $8,000 from January to September 2021, which is almost a month and a half of extra pay for the median American household. New Airbnb hosts have earned $6 billion since the start of the pandemic, and for listings that were first activated and booked in Q3 2021, 50% received a reservation within three days of activation and 75% received a reservation within eight days,” reports Airbnb in its recent newsletter.
New Host Registration Technology
With the rise of remote work, people can work and live anywhere in the world. To meet the demands of this new travel revolution, Airbnb has updated its onboarding process to offer a ten-step process and its new AirCover Protection Plan.
Airbnb also waived the $100 accommodation fee for new hosts who complete their ten-step onboarding process.
The company understands that this is a great opportunity to expand its host base and is doing everything in its power to make signing up as easy as possible. So if you’re considering becoming an Airbnb host, there’s never been a better time.
Tips from the best new hosts
Pat H, who is one of the top hosts in Hamden, Connecticut, says, “Over the many months since, being an Airbnb host has made our lives richer, and not just with extra income. we are grateful to be part of this global community.”
With the easing of travel restrictions around the world and several countries like Switzerland and Ireland allowing visitors to enter without a negative covid test before travelling, Travel is about to explode worldwide.
A recent study by voyage.com suggests that travel in 2022 is expected to grow by 31.7%, meaning there’s a great opportunity for new Airbnb hosts to capitalize on this growth.
Stevie and Juani P, Best New Hosts in Grand Marais, MN, advise new hosts to “Keep working to make this experience better. Some people view hosting as passive income. I disagree with that. I think that to really be successful, you actively work at it.”
Become a new Airbnb host
Airbnb has put together a great marketing effort to entice new hosts to sign up. Their signup page estimates your expected monthly earning potential based on the last 12 months of booking data in your specific region.
Although this estimated income amount is only an estimate, it provides a baseline or starting point for those looking to start a business. side hustle as an Airbnb host.
For areas where specific laws prohibit overnight rentals, hosts can capitalize on the popularity of remote work and circumvent those laws by renting for a minimum of 30 days. For example, owner Andrew Karpiak took advantage of the popularity of remote work to rent out his lakeside vacation home in rural British Columbia for at least 30 days due to a local law that restricts it. prevented from renting it at night. Before the pandemic, there was very little interest in 30-night bookings or extended stays.
The newsletter that features the best new hosts in each US state will inspire those interested in this hustle and bustle on the travel side. Host profiles include everything from city apartments to isolated farmhouses, with a mix of 42% in rural areas and 48% in more urban areas.
Airbnb recorded five thousand check-ins between these Hosts in total. Hosts have a combined average rating of 4.9 out of 5, and 46% are female, while 12% are couples. Becoming a state’s best new host isn’t easy, and potential hosts can look for these top 50 lists to prepare for their own ownership.
It’s no surprise that Hawaii’s top host has received over 55 positive reviews since opening in February 2021. Hawaii is a popular destination for remote workers and new hosts can capitalize on this opportunity by listing existing or second homes on the platform.
If you’re looking for a way to earn some extra cash during these uncertain times, becoming an Airbnb host may be the perfect opportunity for you. The company does everything in its power to make it easy for people who want to become hosts. With traveler demand increasing every day, this is a great opportunity to earn extra income using your current assets.