How Your Loft Can Generate a Side Income via AirBnB?

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How Your Loft Can Generate a Side Income via AirBnB?

 

Are you considering an additional bedroom and bathroom for your home?

A loft conversion is an ideal solution to take care of all the problems you face with accommodation whenever you have friends and family coming over because it gives them an entire floor and also prevents shower time clashes in the mornings.

However, if you’re thinking about making a guest space in your home or have done so already, there’s an excellent way for you to get a good use out of it through the year.

Airbnb helps you rent out the extra room in your home whenever you want to and make money off it rather than leaving it vacant.

Demand is not in short supply

London is among the cities with the highest number of visitors. In 2015 alone, it had about 31.5 million tourists, and the population is hardly ever affected by change in season compared to other cities. It is ranked number three in the world amongst cities with Airbnb listings, so there’s a lot of demand.

Although there’s a rule that forbids you renting out your entire property for more than 90 days in a year without permission, renting out spare rooms on your property does not carry such restrictions. Hosting can become a profitable side business for you.

It might not be easy to adapt to sharing your home with total strangers, you can make considerably more money through it on a daily basis compared to when you have permanent lodgers, you also have the luxury of being able to decide when to lodge people.

How valuable is it?

How much effort do you really have to put into becoming an Airbnb host, and how much can you make from it?

The amount you can charge varies depending on certain factors like room size, type of bed, number of guests, available facilities, and the nature and location of the property.

Though some visitors will rather stay in zone 1 or 2, there are others that will prefer to stay further out to reduce cost, and there are certain areas that have their own special attraction (areas like Wimbledon because of the tennis fans that come in yearly).

A careful perusal of the Airbnb website will reveal that a double room with an en-suite bathroom could cost not less than £35 nightly, though you’re the one to make the final decision on the fee you deem appropriate for your room and location.

An additional fee for cleaning as well as security deposit, and some laid down rules are some of the measures you can put in place to ensure that your property is treated with respect.

You should not forget however, that you’re in competition with other Airbnb owners as well as hotels and hostels. Ensure that your guests are comfortable by making sure that there’s no shortage of toiletries, bed linens, etc.

Getting great reviews means more business for you in the future so always endeavor to be a good host.

How practical is it?

Though you have to dedicate your time to manage your Airbnb, that doesn’t mean you can’t do it and work full time. You can use the app to manage your bookings and your phone to keep in touch through the day.

You need to make arrangements for them to pick up and return the keys, cleaning arrangements, and restock consumer items like soap and shower gel. That’s basically all it entails, and you can also decide on minimum stay times to make sure that you get a respite from your guests.

If you’re considering making some extra cash from converting your loft, pay a visit to our page on the Airbnb website to get the requisite information on how best to rent out part of your property to guests.

 

At Go Gondolier, we create bespoke loft conversions or house extensions that will meet our client’s needs, we also help our clients experience a stress free loft conversion by managing the complex build. Contact us today for a free quote request

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