Now that the pandemic restrictions and lockdowns have eased, many people are getting back to everyday living. Many professionals have changed their outlook toward life, preferring careers where they can travel the world. Working remotely while exploring global locations seems to be the current lifestyle choice. Even as you’re looking around for secondary sources of income for your adventures, consider monetizing your apartment. Check out these tips where you can use your home to generate revenue for you. For example, the money you make could be used to pay the rent and overheads.
Rent Your Place Instead of Leaving it Vacant
If you intend to travel for at least the next couple of months, you could sublet the apartment to friends and students. Listing your apartment on platforms like Airbnb, Vrbo, Booking.com, and Turnkey could earn you a great short-term rental income. You’ll provide descriptions of the place, along with the area details and availability of amenities close by. Adding information like the square footage of the apartment, in-unit laundry facilities, dishwasher, fridge, and other appliances will give your guests an overview of what to expect, raising your chances of getting inquiries and bookings.
Vetting Guests and Checking Identification
Reputable platforms like Airbnb have their screening processes to vet guests carefully. Depending on the site through which you accept bookings, you can also expect free property damage and liability insurance of up to USD 1 million. Of course, you must stay informed about the updated policies and terms. Remember that your guests may include vacationers and business travelers looking for a single room or even a couch in your living room. You’ll negotiate the rent, schedule, and other details accordingly.
Integrating Bookings on a Single App
Listing your apartment on multiple short-term rental platforms maximizes your chances of letting the place for the most time. However, you’ll have to deal with issues like overlapping bookings, missed inquiries, and checking each site individually for managing the rental. A better option is using vacation rental software that allows you to integrate bookings on a single app. You’ll schedule cleaning and maintenance, post images and rave reviews, communicate with guests, and accept payments. All of this can be done remotely, complete with the convenience of keyless entry systems for access.
Renting Your Place to Film Crews and Photographers
Short filmmakers, television companies, photographers, and artists may need a well-designed home for their projects. Letting out your apartment to them through reputable companies is an excellent way to monetize your place. In addition, you’ll have complete assurance that they’ll leave the site cleaned up and in order without the risk of damages.
When you intend to travel for a few months or longer, using your apartment as a short-term rental can help you make some extra money. Before accepting bookings, check with the landlord and ensure that you comply with local regulations. You’ll also use online platforms and apps to stay on top of your bookings and manage them from a remote location.