In this article, we will consider a popular option for earning money for those who have the opportunity to rent out their homes.
If you have a place where tourists from all over the world can comfortably spend time, you can rent it out on the largest housing search site Airbnb.com. It can be either a separate house or apartment, or just a room or even a tree house or a yacht, the main thing is that it is safe and all the necessary amenities are present.
How to make money on Airbnb
Airbnb.com is the most popular accommodation search site for millions of travelers from all over the world. It is completely free to post an ad on it, and it is very easy to do it.
In order to start renting out housing, you need to register on the Airbnb.com website.
After registering, you need to click on the link in the upper right corner – “Rent out your accommodation” (or sometimes it is called “Host guests”), after which you will proceed to step-by-step instructions for adding information about your accommodation.
On the site, it is very clear and consistently prompted to enter the necessary data, as well as add a photo and information about amenities. The procedure for adding is very simple, so I am not giving additional instructions – I’m sure you can handle it.
In the process of adding your ad, you yourself can specify how much money you want to receive, what terms you want to rent, and whether there are additional details (for example, you can indicate that it is forbidden to live with animals in your apartment).
After you fill in all the necessary information, your ad will be added to the site, where everyone will see it and can book certain dates with you.
The decision on placement is yours. After someone chooses your accommodation, you will receive an email alert and you can decide (based on reviews / photos / information) if a potential tenant suits you.
The control panel on Airbnb.com is very user-friendly, and you can easily figure out the rest of the settings.
The only thing that requires additional explanation is the withdrawal of money from Airbnb.
How to withdraw earned money from Airbnb
After you confirm your reservation, your tenant’s bank card will be debited and credited to your Airbnb account.
In order to withdraw this money, you need to go to the Account settings – Preferred payment method, and click on the red button – “Add a payment method”. There are 3 ways to withdraw money on the site. Let’s take a closer look at each of them.
- International bank transfer is a swift transfer with a commission of about $ 25, which takes up to 7 business days. This option may be suitable for those who withdraw large amounts, to a legal account, and not very often.
- Payoneer Prepaid Debit MasterCard is the most convenient withdrawal method. For it, you need to register for free in the Payoneer payment system, and receive their bank card. Money arrives within a few hours (and not a whole week as in the case of the first option). After crediting money to your card, you can withdraw it at any ATM or make purchases on the Internet.
- Western Union – the commission is $ 10 at a time, and in order to receive money you will need to physically come to the pick-up point with documents.
After comparing all the options, I recommend that you use a Payoneer card.
The best way to create a Payoneer account
When you select Payoneer as the option to receive payments from Airbnb, you will be prompted to sign up with a partner and receive an Airbnb branded card from Payoneer.
If you do not have a Payoneer card yet, I advise you to register not through a partner (in this case, Airbnb is the partner), but directly with Payoneer, in which case the commission and service fees will be lower.
By registering directly, you can easily connect your card to Airbnb by clicking on the inscription circled in a green rectangle from the screenshot below.
To summarize, I want to put together a consistent plan for how to start making money on Airbnb:
- Sign up to Airbnb
- Add your accommodation, arrange photos and information
- Order your Payoneer card directly from a payment system, not through Airbnb
- Receive money from tenants, money will be stored in your Airbnb account
- Link your Payoneer card
- Withdraw money