For many years, Airbnb has been a well-liked option for both visitors and home owners. It provides a distinctive platform where tourists can find inexpensive lodging options and home owners may make some extra money by renting out their residences. However, many are left questioning if Airbnb is still a good investment in 2021 given how the COVID-19 epidemic would impact the travel sector in 2020. The response is affirmative, but with a few qualifications.
Due to the epidemic, Airbnb has modified its policies and procedures to better protect both hosts and guests. There will still be a need for Airbnb rentals in 2021 as more individuals choose to stay in private homes rather than hotels. In fact, since the pandemic began, Airbnb has seen a spike in long-term stays and domestic trip bookings, which is encouraging for prospective investors.
Compared to conventional long-term rentals, Airbnb can provide a higher return on investment (ROI). The flexibility to charge greater prices for short-term rentals allows hosts to make more money faster. In addition, co-hosting allows property owners to hire someone else to take care of day-to-day activities and administer the property, making it a more passive source of income.
The property owner must first post a listing on Airbnb before inviting someone to co-host. After that, the co-host will have access to the listing and be able to assist with managing it, including interacting with visitors, managing check-ins and check-outs, and maintaining the property. The co-host payment percentage can be determined by the property owner, and Airbnb will automatically share the revenue between the two hosts.
For property owners wishing to supplement their income in 2021, Airbnb may still be a wise investment. However, it’s crucial to take into account the demand in the market today and adjust to the new safety procedures and rules that Airbnb has implemented. Co-hosting can help the investment become more passive and controllable, enabling property owners to make money without having to take care of everything themselves. As with any investment, it is crucial to conduct research and balance the advantages and disadvantages before deciding.