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 different units.

side hustle income. Live rent free by house hacking — Live Rent Free by House Hacking

Disclosure: I have included some affiliate links below, and I may receive commissions for purchases made through these links.

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

I live in sunny Los Angeles, CA, known as the City of Angels. Our amazing weather allows me to ride my Harley motorcycle year-round.

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

According to the L.A. Times, Los Angeles mortgage 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 entryway into building my real estate empire.

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

When I first began my house hacking journey, I would rent out my own bedroom, 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 ten years and earned the Superhost designation.

As a Superhost, I get exclusive offers and perks.

Those exclusive offers and perks have included discounts on Nest products, a $100 travel coupon, free professional photography for my 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 worldwide.

I live in urban L.A., and my home is conveniently located near the airport, 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 return trip home.

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

With Airbnb, my guest payments are swift, usually 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 worldwide.

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 that no one is a stranger to me. She’s right on both counts.

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

We are all different yet alike in so many ways.

As much as I love to travel, I feel blessed to have Airbnb bring the whole world to my humble doorstep.

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, “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 and property damage claims 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 hosts so that more people are familiar with Airbnb.

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.

When traveling out of the country, I often have an Airbnb guest at my home.

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

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

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

There are some 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 host 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 and an entire house.

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

You can rate each other up to 5 stars for 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 most common answer is that they chose me because I’m a Superhost and that I have great review ratings.

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

Here’s how you can be an exemplary guest: If something isn’t quite right, communicate openly with your host.

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

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

If the guests have 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 to 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 guest, which Airbnb takes out before we receive payment, and they send it to the city.

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