Secret #5 Rent Your Space

rental-retirement-strategy

Airbnb is a global phenomenon. For travellers the options are endless; you can rent anything from a beach house at Goolwa to a traditional yurt in Mongolia. People regularly rent out their spare room or garage to travellers.

https://www.airbnb.com.au

It can be an appealing way to make some additional income by renting out part of your own home.  For example, a spare room or self-contained granny flat in Unley might fetch $80-90 per night (plus a security deposit and cleaning fee). 

I imagine hosts would meet some interesting people along the way. Obviously renting out your home (or space in your own home) has its risks, but then again many worthwhile and interesting things do.

The best part is both the renter and the owner get rated which improves the security a lot more.

There are many alternatives so just search alternative Airbnb in Google.

So, what if you are a retired person that wants to use a service like Airbnb to rent out part of your home? What are the implications for tax and Centrelink? 

It is important to seek advice from an accountant or service provider.

Homestay is a great opportunity for hosts and students to meet new people and learn about other cultures. 

https://www.homestay.com/

“We find that the hosts who gain the most from the experience are those who have a genuine interest in getting to know their students and who take the time to make them feel welcome in the home.”

Ms Flanagan said ICTE-UQ homestay hosts included families, young couples, retirees and working professionals.

“Our student numbers keep growing and we are always looking for hosts who would like to join our ICTE-UQ homestay program.

Homestay hosts receive weekly payments to cover food and other costs. Short-term and long-term placements are available. 

Shared Accommodation

I have found a lot retirees want to keep their homes however income and circumstances make it hard so maybe it is time to return to your youth and open up your home to some other pensioners.

This can not only help with payments but also introduce some help to keep the property in tip top condition.

I found some that rented to young people who they trusted to both help with income but also to help around the house for reduced rent.

Rent your Garage or Parking Space.

Spacer is Australia’s marketplace for space. Join the fastest growing space sharing community

We connect people who have spare storage space, from a garage to a driveway to a car park or carport. 

Need a shed? 

We’ve got those too! Storage solutions come in all shapes and sizes, and are conveniently located in your local neighbourhood. 

Save up to 50% off traditional self storage options.

This works all around Australia

https://www.spacer.com.au/about-us

Booking.com

Booking.com is a site well-known to travelers as a website to reserve hotels and hostels. What’s new is that you can now be a host through Booking and list your home, apartment, or room for guests to rent out short term!

We used them for a recent trip to Tasmania. The best thing was we filtered by provide breakfast and the results were perfect.

Booking works like a reliable “classifieds” page where you can promote your property.  

The website makes it very clear that it’s not acting as the contracting party, but only as an “agency.” In other words, it doesn’t offer guarantees for damages, accidents, or anything else.

They also earn profit based on the commission from the site’s users. But there are a few differences: Booking doesn’t charge guests any fees or commissions, and the calculations aren’t the same as Airbnb.

The commission you pay will depend on the location of the property (it ranges from 10-25%), and is based on the value of all the reservations that were confirmed and paid, even the non-refundable ones, regardless of the actual stay of the guest.

So, Booking is a good option for anyone who wants more visibility on their property, and to offer a more attractive price for guests since the final price will be decided by you without any extra fees.

TripAdvisor

Another great place to list your room or property is Tripadvisor.

https://www.tripadvisor.com/Rentals

TripAdvisor is one of the biggest travel websites in the world, mainly because the majority of its content is produced by users, who are responsible for recommendations for accommodation, food, tours, excursions, activities, and other travel-related topics.

But did you know that TripAdvisor also works as a platform to list properties for short-term rentals?

You just need to go to the registration page for property owners and fill out your basic info.

From there, the rest of the process is really simple and self-explanatory. You’ll supply the details about your property as well as the specific reservation criteria you want to establish like the amount of time to receive payment before cancellation and the refund policy.

After finishing up your registration, you just need to confirm your email and phone number. From there, your listing will be available within 48 hours.

HomeAway

https://www.homeaway.com

The final platform can help you rent out your home temporarily is HomeAway, a site that’s part of the HomeAway group, a world leader in temporary rentals.

You can use the platform one of two ways: by putting up your list for free (and paying a 5% commission for every reservation), or by buying an annual plan for HomeAway (and not having to pay any commission fees).

HomeAway is a website that has the least security options of the 4 websites listed here. The property owner is basically responsible for everything. So, it’s highly recommended that you write up a temporary rental agreement that outlines the necessary guarantees.

YouCamp https://youcamp.com

This service is like Airbnb for campers.

At Youcamp simplicity is the new luxury. We are committed to opening up unique frontiers of the Australian outdoors, providing people with access to the best and most exciting, interesting places to stay.

Every day more and more local hosts open up their properties to provide incredible outdoor experiences, many of which have never before been accessible to the public.

Great for going on a camping holiday.

Great for list your property if you live on acerage etc.

Youcamp began life in 2013 when two NSW South Coast landholders realised that all around them were beautiful places on private land that could be visited by the public if only there was a way for travellers and property owners to connect.

Is my land the right fit?

Properties on Youcamp range from backyards, bush blocks, hobby farms, acreages and larger productive farms. 

Our most popular locations are something that’s dog friendly, in an empty paddock with a bit of shade beside a creek or close to capital cities, national parks or major tourist routes. 

Campers are looking for back-to-basic camping and many are self-contained with their own toilet. Many hosts rely on their Youcamp income to make ends meet each week.

Some of our hosts are generating tens of thousands of dollars from their Youcamp sites.

Secret #6 House Sitting


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