SAVE MONEY HOUSE HACKING AND LIVE RENT FREE

Did you know that it’s possible to save money house hacking and live rent free in the process?

What is house hacking?

House hacking is when you live in your home and rent out other rooms, or in the case of a multifamily property, you would rent out the other units.

Disclosure: There are some affiliate links below and I may receive commissions for purchases made through links in this post. 

 

One of the best ways I’ve found to save money, earn money on the side, and live rent free in the process is being an Airbnb host.

 

I live in sunny Los Angeles, CA, known as the City of Angels, where we have amazing weather that affords me the opportunity to ride my Harley motorcycle year round.

 

As the saying goes though, there’s a price to pay for everything. The price for all of our lovely sunshine is a city of astronomically high rents and mortgages.

 

According to the L.A. Times, Los Angeles mortgages rates have risen to a seven-year high.

 

Airbnb is an online company or marketplace that connects short term renters that are seeking accommodations.

 

Being an Airbnb host takes the sting out of my mortgage payment and allows me to live virtually rent free, or rather, mortgage free by house hacking. 

I’m also using house hacking as my entry way into building my real estate empire.

Not only have I been able to live rent free, but I have built up my home equity in the process.

 

When I first began my house hacking journey, I would even rent out my own bedroom and sleep on the couch or spend the night at a friend’s house.

Becoming an Airbnb host has been one of my most lucrative and fun endeavors.

 

I have been an Airbnb host for over five years now, and I’ve earned the Superhost designation.

 

As a Superhost, I get exclusive offers and perks.

There are discounts on nest products, a $100 travel coupon, free professional photography for your listing, and increased visibility, such as a Superhost profile badge on your listing.

 

Other exclusive perks include an additional 20% referral bonus on top of their standard host referral bonus.

 

My location in Los Angeles gives me a steady stream of guests from all corners of the world.

 

I live in urban L.A.  and my home is conveniently located to the airport with close vicinity to the beaches and several of our area colleges.

Many of my guests choose the convenience of a car service like Uber or Lyft over driving or taking the metro.

Uber and Lyft are abundant and relatively inexpensive in my area.

Photo by Jack Finnigan on Unsplash

I have been asked ‘Why not just get a roommate’?

I prefer using Airbnb over having a roommate because, first of all, I don’t want a roommate.

Airbnb guests come for a designated amount of time and then they’re off to their next adventure or their return trip home.

When I feel like I need some down time, or just want to throw a huge party, I can block my calendar for those dates.

With Airbnb, my guest payments are swift, showing up in my PalPal account the day after they check-in. Sweet!!

The fun part of Airbnb for me comes in meeting people of every nationality from all over the world.

After my first year of hosting, Airbnb sent me a congratulations letter stating I had hosted people from over 60 countries.

Wow! Even I was shocked at the sheer volume of those numbers.

My daughter always tells me that I enjoy talking and no one is a stranger to me. She’s right on both counts.

I find it fascinating to talk with others about how they live and how they were reared growing up.

We are all different, yet alike in so many ways.

As much as I love to travel, I feel that with Airbnb, I’m pretty blessed to have the whole world come to my humble door step.

When I first began hosting on Airbnb and I would mention it to friends, most seemed taken aback that I would have a ‘stranger’ in my home.

 

I would inevitably be asked questions like “Aren’t you afraid that someone will steal something? Or Are you afraid to go to sleep at night?”

 

My first response is often “Who is going to travel from the far corners of the earth, to my little house, to steal a TV?”

 

Then I explain that Airbnb provides a $1,000,000 Host Protection Insurance liability program coverage for bodily injury of property damage claims that’s related to Airbnb stays.

 

Also, if you have anything of value, lock it up or put it offsite in a safe deposit box.

 

Airbnb has reached out to increase meetings within various communities on how others can also become a host, so more people are familiar with Airbnb.

 

Now, when the subject of side hustle income pops up in a conversation and I mention that I’ve been an Airbnb for several years, it sparks interest and questions on how they can also become a host.

 

Often when I’m traveling out of the country, I will have an Airbnb guest at my home.

That’s  when it especially feels like passive income for me!

 

Booking an Airbnb space is generally less expensive than renting a hotel room, but not alway.

Guests may book a property because they want a more authentic stay, achievable when you’re a part of a neighborhood versus being in a hotel room.

 

There are some really unique spaces for rent on Airbnb, from Treehouses, boat houses, Airstreams, underground houses, castles, and even a sheep wagon in Wyoming (I think I’ll pass on that one).  

 

Check out some more amazing Airbnb rentals here: Beautiful Airbnb Houses. 

Need a pet friendly Airbnb? They’re available.

Need a last minute Airbnb? Chances are they’re available also.

 

I enjoy using Airbnb when I’m on vacation.

It’s good to see how others hosts Airbnb and I’ve picked up some good tips from being an Airbnb guest away from home.

 

I’ve used Airbnb in places I’ve visited including Tokyo, Hiroshima, Atlanta, Puerto Rico, and Barbados.

I’ve rented a room inside a home as well as rented an entire home.

 

After each stay, Airbnb automatically sends a rating review request to both you and the host.

 

You get to rate each other up to 5 stars in areas such as communication, cleanliness, and observance of house rules.

These ratings are left for others to see.

When I ask my guests why they chose my Airbnb, the answer I get most is because I’m a Superhost and that I have great review ratings.

 

Remember, those ratings are important for both the host and the guest.

 

Here’s how you can be an exemplary guest: if something isn’t quite right, have open communication with your host.

 

I strive to get 5 star ratings, so I always ask my guests to let me know if there’s anything that I need to fix for them.

 

Be considerate of your hosts schedule and if they have quiet hours or designated kitchen cooking hours, abide by them.

 

If the guests has a posted set of rules (which would usually be on their Airbnb listing before you book) abide by them as well.

 

Ask where you can deposit your trash if it overflows. Show common courtesy.

 

Have you ever used an Airbnb rental during your travels?

Do you have a space that you could Airbnb out for side hustle income?

 

If you’re interested in house hacking via Airbnb, here’s my referral link to get you started. 

 

Always check your city ordinance laws to make sure you are in compliance.

 

Here in Los Angeles, we now pay an Occupancy Tax per guests, which Airbnb takes out before we receive payment and they send it to the city of Los Angeles.

 

Have you ever been a guest at an Airbnb? How did you enjoy your experience?

 

Let me know if you decide to become an Airbnb host and how it works out for you.

 

Feel free to shoot me any questions you may have on Airbnb hosting. 

 

Share your Airbnb experience in the comments below.

 

For me, it has been more than worth the time I’ve put into it. Happy Hosting!

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