Airbnb hotspots – and how to airbnb your home
It's not just the capital that's seeing growth in Airbnb hosts, as more of us start airbnb-ing our homes...
July 11, 2019
London, unsurprisingly tops the list of most popular UK destinations for Airbnb guests. Recent data from Airbnb reveals that guests and hosts on the platform generated over £2bn for the London economy in 2018 alone.
Londoners who shared their space on Airbnb also enjoyed a boost to their income, collectively earning almost £400m in the past year by welcoming over 2.5m guests who chose Airbnb to stay in London. Airbnb suggest that host income and guest spending led to over £4.2bn in estimated direct economic impact for the UK.
But it’s not just London that Airbnb guests love. Based on estimated guest arrival numbers in 2018, the top ten destinations in the UK for Airbnb guests are:
Why are people airbnb-ing their home?
Airbnb offers an easy to access revenue stream for many homeowners wanting to make money from their home. The rental website allows you to make money from the space you aren’t using in your home or by renting out your whole house when you go away.
In 2016-2017, a typical Airbnb host earned £3,000 a year in the UK. 36 nights are hosted per year for a typical listing with an average length stay of 3.3 nights per guest.
You can get started quickly
The online process to create a listing is pretty quick and easy—you write a description of your space, upload photos, and mark dates your space is available to visitors. And it’s always free to create a listing.
To set your price, look at what other places like yours in your area are charging. You can also use the Airbnb pricing tool which will recommend competitive rates, but what you charge is always up to you.
Guests are charged when they reserve your home/room, and the money is usually released to you 24 hours after check-in. You can be paid by bank transfer, PayPal, or a number of other options.
Airbnb charge hosts a fee of 3-5% of the listing price. If you are listing a room in your main residence, you should be able to benefit from the government’s rent-a-room scheme which allows you to earn up to £7,500 per year tax free. For more advice on tax take a look at our guide about renting out your home as a holiday let.
Help getting started
Once you’re a host, Airbnb has tools to help you feel comfortable and confident welcoming guests. You can find hosting tips on the Airbnb blog and get your questions answered by experienced, successful hosts in the Community Centre.
In the event an accident happens, your property is covered up to £600,000 with the Airbnb Host Guarantee which the company claim is peace of mind for you at no extra charge. But you should still check your home insurance policy as well and liability insurance. And as for the people staying at your place, everyone who travels on Airbnb needs to submit a profile photo and confirmed phone number and email address. For extra assurance, you can also require your guests submit a government-issued ID.