How much would YOUR house be worth on Airbnb? New tool calculates earnings as demand for UK holidays increases

Have you ever wondered how much your listing would earn on Airbnb?

Prospective hosts can now find out exactly how much they could earn each month by renting out their accommodation, thanks to a new tool on the site.

The “What’s My Place Worth” tool calculates your home’s estimated income based on its location, listing type, and amount of space, as well as considering past Airbnb booking data in the region.

The accommodation site hopes to be able to encourage more households to register on the site, as demand for travel increases after a year spent in confinement.

It is likely that some travellers, at least to begin with, are considering renting a self-catering holiday home instead of staying in a hotel due to health concerns.

Airbnb’s new tool helps potential hosts find out how much they could earn on the site

Estimates of what a house can do are based on the last 12 months booking data in the local area and are calculated by multiplying a price per night by the total number of nights occupied, known as the rate of occupancy.

However, the amounts provided are estimates and are not guaranteed.

It’s also worth noting that, if you’re a tenant, subletting your property is likely against the terms of your tenancy agreement – and if you own your lease, you may need permission from the owner.

The site also shared what makes an Airbnb listing successful, including workspaces and pet-friendly listings.

In the UK, the most searched amenities so far this year allow pets, followed by searches for properties with hot tubs.

Free parking, wireless internet and properties with swimming pools were also the most popular.

Other popular searches were for houses with kitchens, heating, washing machines and televisions, suggesting that those looking to get away from it all were looking to spend more time on the property and possibly get away before the holidays abroad are permitted.

To see how much your house could earn you, click here.

The calculator will estimate how much hosts can earn by renting out their property

The calculator will estimate how much hosts can earn by renting out their property

“Guests love our clawfoot tub and fresh eggs”

This is Money spoke to hosts Min and Sam who first listed “The Pigsty” on Airbnb in late 2019. The house is part of their pig farm that has been in the family for generations.

They said that to be a great host you have to be responsive and accommodating, go the extra mile – whether it’s putting out balloons for a birthday or getting flowers for a birthday. Most importantly, they said hosts should be available to guests if they need help during their stay.

Min and Sam are two Airbnb hosts who rent out their property, The Pigsty online

Min and Sam are two Airbnb hosts who rent out their property, The Pigsty online

“Our rolling tub has to be the most popular piece of equipment, but it’s the extras we have that make the difference, the little things you forget, like a phone charger or toiletries.”

“We also offer breakfast with fresh eggs from our hens and farm-roasted coffee beans, which takes some of the pressure off of customers.”

When they first opened they offered overnight stays, but quickly found that was a lot of work. They now offer a minimum of two night stays.

“It’s a great way to make money and with Airbnb it’s easy – you can host as much or as little as you want. It’s also a great way to meet people and share what you have at your doorstep.

Short rentals criticized for making areas too ‘touristy’

However, not everyone is a fan of Airbnb, with some local communities trying to ban the use of the platform – and others like it – in their areas.

Some claim landlords are ditching long-term rentals for short-term rentals that are far more lucrative.

This in turn can lead to higher rental rates for full-time residents and the “touristification” of neighborhoods.

In June 2019, ten European cities wrote a public letter asking for more EU help in their battle against Airbnb and other vacation rental sites, arguing that they were excluding residents from accommodation and changing neighborhoods.

Amsterdam, Barcelona, ​​​​Berlin, Bordeaux, Brussels, Krakow, Munich, Paris, Valencia and Vienna said: “European cities believe that houses should be used primarily for living.”

He said many countries are facing a housing shortage, which is exacerbated by the large number of houses being rented out on a short-term basis rather than premises.

However, the website continues to grow in popularity with thousands of listings available in the UK and overseas.

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