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Use your spare room to fund your travel addiction!

That’s certainly a catchy proposal – but is it really doable?

Not only is it doable, it’s pretty easy – as long as you live in Toronto or Vancouver that is.

Airbnb has become so well-used that instead of only advertising how much money travellers can save using Airbnb (which they certainly can) they need to bring more hosts into the fold.  Because the sharing economy is growing so quickly, Airbnb is looking to throw in an extra juicy bonus in order to increase the amount of hosts they have listed in certain areas.  When they came across our money-savvy community here at Young and Thrifty, they thought our readers would be the perfect group to reach out to with a special offer:

If you’re from Vancouver you can make over $1,000 per week during the peak summer season, PLUS get $200 bucks from Airbnb as a bonus when you book your first booking of over $45!

If you call Toronto home, you could rake in close to $700 per week and snag the same bonus as your west coast countrymen!

These lofty numbers are admittedly the average of the top 10% of earners last year in Vancouver and Toronto, but pulling in $4,000 over the summer is certainly within reach if you have a spare room in two of the world’s booming tourist destinations.

What would you do with $4,000 this summer?

  • Book an exotic vacation for next January?
  • Pay off student loans?
  • Stash it in your TFSA?

The correct answer might be all of the above.

Signing Up Is Quick and Painless

Airbnb has quickly flipped the world of traditional travel on its head.  They’ve perfected their hosting process and have eliminated all of the bottlenecks and friction points.  Here’s the deal:

1) Click here to list your space.

2) Write a killer description that talks about what fun stuff you’re close to, how awesome you are, and how you’re cool with folks using your Wifi.

3) Get that artsy friend that has always been into photography to take a bunch of pictures that show off your place’s best assets.  Don’t forget a few that showcase the actual space that the guest will be staying in.

4) Let Airbnb know when it’s time for folks to stay over.  Having some out of town buddies drop by over the long weekend?  No sweat, you determine the exact times that your space is on the market.  If you need it, you keep it.

5) Respond to requests through the Airbnb website or app.

6) Chill with folks from around the world.  They only visit on your terms, with your prior approval, and when you want.  You stay in control during the entire process.

7) Sit back and wait for Airbnb to wire the payment (plus the $200 bonus) 24 hours after your guest’s check-in time.  Depending on what payment you choose, you can get your money within one business day (PayPal and Western Union) or within 3 business days with direct deposit.

It’s that simple.

Hack Your Way to Becoming a Top Airbnb Host

A few ways to get noticed, build positive reviews, and generally rake in the cash with Airbnb include:

  • Take a genuine interest in people and enjoy getting to know them.  This is just fun, will probably make you a better person, and the personal connection will lead to a better review – which is the modern currency of the sharing economy.
  • Small touches can go a long way.  Having a meal prepared, a freshly made bed, and a generous smile can help alleviate some of the torture that is modern travel.
  • Become a walking travel brochure for your city.  Both Vancouver and Toronto boast award-winning tourist attractions AND have a myriad of small niches filled with character.  If you’re familiar with all of this and can be an effective spokesperson, you really add value to your hosting services.
  • Be honest from day one.  It’s much better for both your guest and your subsequent reviews to over-deliver as opposed to over-promise.

Start Today and Put $200 In Your Pocket

Air Bnb reviewLetting someone stay in your house is a major leap for most folks.  If you grew up with a traditional idea of what constituted a home and what defined a hotel room, then the whole concept of the sharing economy can be a little out-in-left-field.  The numbers don’t lie however.  With more and more people signing up to travel with Airbnb from all around the world, the opportunity to make serious bank if you live in one of Canada’s major cities has never been better.

If you’re looking for a way to pick up some extra cash to help with debt repayment, build a stock portfolio, or to take you on an adventure, then becoming an Airbnb host might be right for you.

Click here to get our exclusive Young and Thrifty offer and collect your $200 bonus when you make your first official booking!

If you have questions about hosting give them a call at 1-888-421-3704 or email canadahostaffiliates@airbnb.com

*Young and Thrifty has a compensatory agreement with Airbnb

Article comments

Ian says:

This makes airbnb seem very easy and beneficial for not only the visiter but for the host! It is starting to make me wish we had the bonus in the prairies. Thanks for the guidance!

Kyle says:

I’ve heard a few negative experiences, but overall, across the personal finance blogs that I read Ian, it seems folks are generally pretty happy with the return on the deal. From a travel perspective I’ve read the general rule of thumb is that 90-95% of the time it turns out great – roughly the same amount as hotels I would think?