Learn how much you can potentially make by
hosting one room or your whole house on Airbnb
SANTA
CLARA, Calif., Sept. 7,
2023 /PRNewswire/ -- Short-term rental popularity is
on the rise, in fact, 39% of homeowners have or would consider
renting out part of their primary home, according to a new survey
from Realtor.com® and CensusWide. To help consumers
better understand their home's potential value,
Realtor.com® today announced the addition of potential
short-term rental income estimates from Airbnb in their
My Home dashboard. This
first-of-its-kind integration empowers homeowners with possible
earnings estimates for hosting one room or their whole house.
Among those surveyed, 23% of homeowners have rented out their
home before or plan to rent part of their home out in the future,
and 16% would consider it. Their reasons to rent are largely
financial, with one-third (34%) of those renting or planning to
rent out their home doing so to save money for a home purchase with
a higher mortgage rate, to prepare for potential upswings in a
variable mortgage (29%), or to help pay their current mortgage
(21%).
Whether looking to rent their home out and earn extra money
while away on vacation, or renting out an extra room to help with
mortgage payments, homeowners can now easily access information
about how much they can potentially earn by hosting their space on
Airbnb in the Realtor.com® My
Home dashboard.
Uncovering the short-term rental earning potential of a home can
also help homeowners evaluate if it's a good idea to rent out their
current home as an alternative to selling it. Looking to the
future, 60% of surveyed homeowners would consider renting out their
current home rather than selling if/when they look to buy or rent
somewhere else. Most cited financial reasons as the motivator: 21%
saying it'd be great to have extra income from a renter, and 19%
would do so to maintain the home equity they've already built.
To get started with the tool, homeowners can simply input their
address in the Realtor.com® My
Home dashboard to claim their home. They can then view their
potential earnings from hosting on Airbnb in the Host or
Rent tab of the dashboard. The interactive tool can be adjusted
for renting a private room or all of the home; estimated earnings
for a seven-day rental are based on Airbnb data from similar
listings in the ZIP code.
"Short-term rentals are a great way to help with some of the
costs of homeownership – renting out their house for a couple days
or weeks out of the year when it's not in use could generate
extra income that can be put toward the mortgage, maintenance, or
even help cover the cost of a vacation," said Mausam Bhatt, chief product officer,
Realtor.com®. "By arming homeowners with information
about how much they could potentially make by renting a room or
their whole home on Airbnb, Realtor.com® is helping them
better understand their options and in turn make more informed
decisions about their home."
The Airbnb integration will make the Realtor.com®
My Home dashboard even more valuable
for current homeowners who can also manage their home's details,
track their home's value with up to three valuation estimates,
explore their equity and discover how their home compares to others
nearby, as well as see recently sold homes in their area and
compare top local real estate agents.
The ability to host and a homeowners' actual earnings will
depend on local laws, availability, rental price, and demand in
their area. The earnings estimates aren't a valuation or appraisal
of your home. To get started exploring their home's potential
rental income, homeowners visit realtor.com/myhome.
About
Realtor.com®
Realtor.com® is an
open real estate marketplace built for everyone.
Realtor.com® pioneered the world of digital real
estate more than 25 years ago. Today, through its website and
mobile apps, Realtor.com® is a trusted guide for
consumers, empowering more people to find their way home by
breaking down barriers, helping them make the right connections,
and creating confidence through expert insights and guidance. For
professionals, Realtor.com® is a trusted partner
for business growth, offering consumer connections and branding
solutions that help them succeed in today's on-demand world.
Realtor.com® is operated by News Corp [Nasdaq:
NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more
information, visit Realtor.com®.
About Airbnb
Airbnb was born in 2007 when two Hosts
welcomed three guests to their San
Francisco home, and has since grown to over 4 million Hosts
who have welcomed over 1.5 billion guest arrivals in almost every
country across the globe. Every day, Hosts offer unique stays and
experiences that make it possible for guests to connect with
communities in a more authentic way.
Media contact: press@realtor.com
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SOURCE Realtor.com