How to sell your home on Airbnb to make $1m a year
Posted September 07, 2018 05:02:48A new study suggests renting out your home is a great way to make money, with the potential to make up to $1.2 million a year.
The findings, from the London School of Economics, say renting out a property can generate a net profit of $50,000 to $75,000 a year for the owner and the tenant.
The report analysed Airbnb listings in London from the end of October, and found that the average Airbnb property had an average listing price of $1,300 per square foot, with a maximum listing price at $2,500 per square yard.
While the report found that renting out homes is one of the most lucrative ways to make a lot of money, it also pointed out that it can also be quite stressful.
“When the properties have high rent levels, there can be a sense of insecurity and a sense that you don’t know what you are going to get from the property,” co-author Chris Smith said.
The study also found that Airbnb listings are becoming increasingly popular in London.
“The amount of time spent on social media is increasing dramatically in London, with more than 20 per cent of Airbnb listings being shared on social platforms,” the report said.
“However, this is only the tip of the iceberg, as social media platforms also enable users to advertise their listings.”
The study looked at the total amount of revenue that an Airbnb listing generated, as well as how many people were actually renting out the property.
It found that there were about 1,500 Airbnb listings listed in London in 2018, and there were 6,500 registered users.
However, that was down from about 13,000 registered users in 2017.
The average Airbnb listing price in 2018 was $1 (1,000 sq ft).
In 2018, there were 787 Airbnb hosts, and they accounted for almost 60 per cent.
Airbnb hosts earned a total of $3.2 billion, while hosts who had less than 1,000 guests earned just $0.7 billion.