Here’s Why You Need to Rent Your Home on Airbnb After Retirement!
If you ever imagine an Airbnb host, what is the first thing that pops in your mind? That of a nomadic hipster who is a strapping youth in their 20s, 30s, or 40s. This is how Airbnb started in the first place. But, since its inception, Airbnb has matured, and now the prospect of you meeting up with a retired tax accountant from Seattle is as probable as meeting a 20-something surfer dude from San Diego.
Airbnb’s shifting to older demographics can also make more business sense. After getting more millennials to get onto the property ladder. If Airbnb wants to grow, it may need to tap into a new segment and convince the older population to open the doors to their homes for travelers. If you are a retiree and still toying with the idea of renting your apartment, here are a few more points to convince you.
The first reason to consider renting your apartment on Airbnb is to fund your retirement. Although you may be reasonably well off and doing well post your retirement, a little passive income can go a long way. You can also stop digging into your savings for those unexpected rainy days.
The average Airbnb can make $924 per month, as they rent their property through the service. It can turn to $1,000. Imagine the amount you would have to save for an additional extra amount of $12,000 per year? If you make 3.3% on your bonds, you would need to save $363,000!
So, it may turn out to be a tougher goal than you thought. But when it comes to retirement, even an ounce of passive income can turn out to be worth a pound of savings. Also, money isn’t the only reason to rent your property on Airbnb. Even if you are still living in your abode, you can rent your room, or you have the option of turning it into a granny flat that could make a great impact on your lifestyle.
A Way to Fight Loneliness
When we grow older, we get lonely and social isolation can be debilitating, and renting your house will mean you may have a chance to communicate more. It does necessarily mean you have to socialize with your guests. But, it can certainly be a great experience for you. When someone rents an apartment, they not only rent your home, they also enjoy the whole experience of it.
When we say experience, we mean cooking them an authentic dinner, making them enjoy a part of the local culture, or even teaching them a new skill. This will also mean meeting some amazing people on the way. If you are trying to amp up your social life after retirement, you can rent out as it may be a great option.
Travel When You Want
One of the many perks of retirement is having the flexibility to travel wherever and whenever you want. But, when it comes to travel, so many of us feel restricted. This could be because of mortgage, other financial commitments, or unable to leave your home without supervision.
But by renting out your home to vacationers, you can make your property a cash-generating machine. With the money coming in, you can hire a caretaker to look after the space in your absence. If you have a smaller space, you can let the vacationers take care of the property while you are away and be sure that everything at home will be safe and secure. In the unlikely case that something bad may happen because of an accident by one of your guests, Airbnb will help you out. They do this from a customer service perspective and also in terms of insurance.
Once you start renting, you may be able to make the most money possible from the property you sign up for. This is certainly a possibility for you to try. A perfect retirement lifestyle opportunity that can whet your appetite to explore some never-before-tried options. Have you ever considered renting your apartment? If not, now is the time to try it out, as renting your apartment for vacationing strangers. It seems to be a new business opportunity, and everybody wants a big slice of this lucrative pie.
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