Fancy cashing in on the booming holiday home rental market?
Using private homes for short stays or holiday rentals has become hugely popular, mainly due to the incredible growth of online booking sites.
Before you hire your home out to a holidaymaker, here are a few things to think about.
Holiday rentals are not a new thing, but renting out your own private room to a traveller is relatively new.
There are several apps and websites that allow homeowners to list their spare room, granny flat, or even just their couch to rent by the night or by the week.
Short-term hosts can choose to remain in their own home while the guests are there, or if they decide to vacate the whole property they can charge the tourists a higher rate.
But remember, whatever option you take, there are always risks, like theft, property damage or anything that comes from opening your home to a complete stranger.
Make sure to read the insurance policies and guidelines for whichever short-term rental platform you use.
If you’re renting your home, there may be rules in place about subletting. So make sure to check your lease agreement before boarding a backpacker.
Depending on where you live, there may be city or council restrictions about short-term letting. Certain disputes have even made the news.
While there are definitely risks, there are advatanges too, like the added income to subsidise the cost of living.
Plus there's always the romantic idea of meeting intrepid travellers from all over the world, which will broaden everyone's horizon!