AirBnB and Me (part 1)

After a bit of humming and having, we have finally put our front room / spare bedroom on AirBnB to help our finances and to to generally make my 9 month pregnant wife’s life a bit more stressful

Now, we don’t live in a touristy part of Scotland.  The typically tourist route going to places like these, or these and avoids places like these. And we sort of live in one of the not so good places.  It’s a bit of geoarbitrage that works for us.  Our house is in a small city with all the amenities you’d need (except a bowling alley) and in a very nice part of that city.  It’s got good transport links in/out/around the city and it is a lot closer to the outdoors/highlands than other places and lots to do here – but it’s not on the tourist trail of Scotland.

So anyway, there are maybe good reasons why you wouldn’t want to stay where we live, add onto that the monster child and a pregnant wife and a check on AirBnB shows that there is plenty of other listings – with decent photography and good reviews (something we don’t exactly have yet).  We decided to post it anyway and see what happens, priced at £30 a night.

We’ve already had 4 bookings – 1 we had to cancel (he wanted to stay for a week), 3 was for a family to stay THAT EVERY DAY but I had to cancel as we weren’t ready, 3 was dodgy and we declined and 4 was a pair of French students starting at the university and needing somewhere for 2 nights.  So they are coming this afternoon and will pay us £60 for the pleasure.  I’m surprised that we had the interest we have had so far.

AirBnB is not without its critics though, but renting out our front room isn’t part of the problem – and I’ve been in the same position as our guests before, so I’m helping (I think).

I’ll put out a part 2 to this post with an update and more thoughts.  If we are ok with hosting people, we could easily make £60-£90 once a month or so and that is about £1000 a year.  That puts us below the £1000 a year allowance – so no tax to pay. 🙂  £1000 a year is the equivalent to a family holiday – so as far as discretionary spending goes, it’s very welcome

Any thoughts about House Hacking to help towards FIRE?  Anyone else use AirBnB like this?  Let me know your thoughts.

Thanks,

GFF

10 comments

  1. Hi GFF – yeah I’ve done airBnB before – it is a hassle but can be worth it money wise.

    Since it’s your own home, you can use the rent a room scheme for tex purposes – and you get a lot more then £1k tax free.

    Like

    • we used to do Couchsurfing – so a similar amount of effort but this time we get paid!

      I’ve rented a room out before and it was a main factor in buying my first flat – but I hope now we won’t be in the position to take in lodgers full time just yet.

      Like

    • the rent a room scheme is very generous at £7,500 a year!
      If you are in London you can probably do that with just one room rented out and even living in a shithole. 🙂
      I think that for a family home, we don’t want a permanent resident and airbnb works fine – we’ve already made over £350 this month with reasonable rates and only a few days filled.

      Like

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