Tune into today’s episode of Side Checks podcast to learn the path towards starting an AirBnB side hustle with my guest Ali Haney.
Perks Of An AirBnB Side Hustle
One of the most common side hustles is AirBnB. AirBnB Makes for a terrific side hustle due to the ability to run it on the side, earn revenue from an investment, and not “clock in” for a traditional work day.
Whether you have a spare room you’re looking to rent out, or a second property, a short term rental can be an excellent place to start when looking to make extra income.
Ali Haney and The Commonwealth Farms, LLC
Today Ali Haney is sharing her expert experience with short-term rentals and AirBnB. Ali has run two very successful AirBnB’s and is sharing her knowledge on what to do, and what to avoid. You can download Ali’s Short-Term Rental Quick Start Guide here. This free guide can serve you as you begin your AirBnB experience.
Today, Ali runs a jaw-dropping 5-bedroom Mansion at the heart of the Bourbon Trail in Kentucky. Check out her gorgeous listing here. She has mastered streamlining her operations and setting her AirBnB apart from the rest. And now, she is sharing all of her wisdom with us.
Ali is a multi-passionate entrepreneur. She started her entrepreneurial adventure as a photographer, photographing weddings and branding images for small businesses, before creating resources for photographers looking to start their own businesses. Through a series of life-changing circumstances, she found a side hustle that led her to managing Airbnbs across multiple states.
Long Term Vs. Short Term Rentals
One important note if distinction inside this episode is the different between short term and long term rentals.
A long-term rental is when you rent out a property to someone looking to stay for an extended amount of time. Rental agreements typically last 3, 6, and 12 months. Reasons for long-term renting are usually centered around living arrangements.
A short-term rental is when the renter has a significantly shorter stay. This typically looks like 1 night, a weekend, or a week-long stay. Reasons for short-term renting are usually centered around vacations.
Investing Into Your Rental Property
In this episode, Ali mentions so much about investing in her rental properties. Ali shares her experience between two very different rental properties. Her first AirBnB was a small cottage home in North Carolina. And her second is a large mansion in Kentucky, next door to the Bourbon Trail.
Even though both properties are extremely different, they both required and excelled with investments. For Ali, this looks like furniture, decor, painting, and more.
Other investments you can make inside an AirBnB:
- Guest baskets
- Professional photography for your listing
- Excursion equipment
Revenue From Your Rental Property
When it comes to revenue for your AirBnB side hustle, it can vary depending on the season. Since AirBnB’s are typically utilized for vacations, depending on your area, you may see a busy season and a slower season.
According to Ali, her AirBnB side hustle sees an average of $5,000 per month with her “Entire-Place” listing. And this can completely vary depending on the time of year since she is in more of a tourist area.
Revenue will also vary depending on your listing type. You can start an AirBnB side hustle with just a spare room. This option has a lot more flexibility. However, you will see a lower revenue when you are starting.
Tools For Streamlining Operations
One another thing about Ali and how she has run her business is her ability to streamline operations. If we can run our side hustles with less time clocked in, we can profit even more. And although Ali has worked extremely hard throughout her AirBnB experience, today she uses tools to protect her time and margin.
Ali automates messages to guests throughout their stay. When they check in, Ali has an automated message, customized for them, that welcomes her guests and provides customer service immediately. She also has a mid-stay automated message and a check-out message.
Ali also outsources cleaning after guest checkout. Through this, she gains hours back into her schedule each week. Departing with a smaller rental commission to guard your time can be a wonderful way to stay streamline and profitable.
Tips For Starting Your AirBnB Side Hustle
If you are interested in starting an AirBnB, Ali is sharing so many amazing tips and resources. You can download her Free Short-Term Rental Quick Start Guide right here. This free guide is a perfect place to begin your AirBnB journey.
Ali’s Tips For Getting Started:
- Familiarize yourself with any zoning laws at your property before listing
- Market your property to the local attractions
- Consider proximity to airports and highways
- Explore airDNA.com to research your area
- Invest in professional photography for your listing
- Amenities = experience
To connect further, follow Ali on Instagram right here. When Ali isn’t running her AirBnB empire, she is running her photography business where she creates beautiful brand photography for other businesses.