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I know I’m naive in posting this- that I’m an AirBnb neophyte and might have a rude awakening, but wow has it been amazing so far, and really saved me from an incredible amount of financial stress. I was very lucky for a couple years, when my New York law firm permitted me to work entirely remotely, and I moved to New Mexico, where I have tons of family. As a single mom of a toddler, this additional support/flexibility was invaluable. In March, they told me if I wanted to keep my job, I needed to return to the city. It just wasn’t an option and I underestimated how easy it’d be to find a job here. I knew there wouldn’t be securities work here, but I thought I could scrape by with even a government job or easily pivot my existing experience. Only there was a state-wide hiring freeze, the economy is terrible, and no one recognizes NY, non-litigation qualifications. I’ve burned through almost all of my nest egg and was looking at having to move. Renting out my casita and guest room over the last two months has been so much more lucrative than I thought it’d be. I know Jan/Feb can be awful, and I do know this is all premature. But I can pay my bills! I mean only enough to barely scrape by. But I can barely scrape by on it. Even better, it gives me a baseline, flexible income where I can feel safe enough to start my own practice (harder to take these leaps with a small kid and no second parent to fall back on). That’s what I really wanted to do, to preserve the flexibility of being able to spend a lot of time with my kid, work a lot from home/in the evenings, etc. I’ll be qualified to practice in NM in December/January, and I’m so excited and thankful. Nothing worse than financial stress with a small child and Airbnb has really opened up possibilities I didn’t know existed.
Haha. Like I said, I realize I’m at the stars in my eyes stage of infatuation. I’m sure I’ll soon start complaining it doesn’t treat me as well and has put on twenty pounds
But it really is just such a relief. And I didn’t know where else to be excited about it.
Agree 100%, if it wasn’t for Airbnb, I’d have had to sell my house. Complications following what appeared to be a simple fall, caused me to be unable to work full time, plus large bills for extensive dental work, n bvermind the cost of traveling to specialist appointments long distances.
It’s not easy money, but it allows me to earn while spending far too many hours lying down.
The other side is that it allows me to stay places at low cost without sacrificing privacy or comfort (most of the time), I’ve just booked for my next medical journey.a lakeside condo with a pool, free parking and great location.
Kudos to you. You have brightened my day. I have recently lost my job and will be on half the salary next year. Without my air spare room rental I’d be on the streets. Thanks Brian!
Sometimes we do get caught up in the drama, inconvenience, or just plain aggravation of the occasional irritating guest. Posts like this bring back the joy. Thanks @annanyc for posting!
I just had a guest leave me two quarts of Italian Ice (she is a producer and was at a convention to sell a turn-key business.) Love it! Hope she made some sales because she said she would be back to train any new owners!
What a delightful and refreshing post, annanyc.
Thank you for reminding me how blessed we are to be able to perform honest work, right from our own homes.
Fare very well with your new venture.
Hello, Im from Austria and I have to say the same! I am so really really thankful for this chance as it kept me away from getting depressed, even! My beloved daughter left the house to live in an other Country in Europe. My son and my husband are at work so I felt very alone. My daughter told me to start Air BnB host and she helps me a lot with it! Through Air BnB I am not only financially better but also I love to welcome guests from Europe and even from other big Countries from far! Its amazing how it runs and now I am soon even a Superhost! No, I tell it WE are Superhost as my mum helps me in iroing the bed linen, my daughter helps me with the Profiles, when new people order, my husband, my son and my two cats entertain our guests! So, it is now a family business and I hope that this never stops! Thank you so much from me, too, for this chance! Hope I can do it very long! Much love to you all from Claudia, from Austria in Europe
What a lovely story Claudia, I bet you never thought you’d be the matriarch of the family business! You are just the sort of passionate, genuine host I would love to stay with if I’m ever lucky enough to visit Austria! My mother stated it was her favourite place in Europe
It has been great for my hubby as it I still much easier than building and he is earning an ok income. He is 63, I am much younger and work full time. When he is not farming he is cleaning.
Wow, after reading this I just had to say - “yes, same here!” - I am a lawyer working remotely with a huge place that was always too much for me and then my husband left me with it all and I never thought I could manage ever and yet I think I am managing now and it’s better than ever. Now I can share my wonderful home and meet people and see their pleasure and appreciate what I have to share. I feel so fortunate and grateful! Thanks to Airbnb and thank you for your story - I wonder how many other cinderella stories are out there?
Thank you! It’s nice to read a positive uplifting post! I too am grateful for Airbnb. I own a “mother-daughter” house with my Mom. When she passed away last December I thought I’d be forced to take money out of my 401k prematurely because I couldn’t keep up with the bills on my own. Renting out the apartment this summer has given me the money and time to get the house ready for sale without having to worry about the mortgage and the taxes, etc…
One caveat I should point out is: Don’t forget the 1099-MISC you will be getting from Airbnb next January for the Rental Income which will have to be reported on your income tax returns. Granted you can deduct the expenses so you won’t be paying tax on the entire 1099 amount…just make sure you set aside some amount for taxes…
You may want to keep the house and earn more money, or sell and find a property that allows you the option of doing Airnb. Once you sell, it may be hard to buy again I’d you are near near retirement. I’m in a similar situation and had my house in the market before I started Airbnb. I’m going to do it for a bit longer to build up more retirement funds.
Unfortunately my rental is in a “summer months only” area so we don’t get any guests from October through May. But thanks for the advice! Yes, we’re looking to sell this house, and then buy another property which can be rented so that we too can enhance our retirement savings. Thanks again for responding and good luck to you in saving for your retirement!
So, it is now a family business and I hope that this never stops! Thank you so much from me, too, for this chance! Hope I can do it very long! Much love to you all from Claudia, from Austria in Europe