Rent Out Your Couch for Passive Income

At this point, nearly everyone has heard of Airbnb, the peer-to-peer vacation rental online marketplace. We've already written how you can earn solid passive income by renting out a room to a traveler. But what if you don't have a spare room? Well, the good news you don't need one. With a little creativity and good customer service, you can make over $1000 per month just renting out your couch!

Why Rent Out Your Couch?

As the world gets more populated, fewer of us live in large enough spaces where we can allocate entire rooms for guests. Not everyone owns a house or even a big apartment. However, you still have a valuable asset worth money to travelers. A roof! So as long as these travelers have a place to sleep (a couch), for many of them it doesn't matter whether they have a separate room or not. In fact, for this subculture of couch surfers, they prefer couches if it saves them money they can use for other aspects of their trip. As the owner of a couch, you can make about $50 per night, depending on how desirable your location is. Not bad!

If you can meal-prep for a week, why not also rent out the kitchen and dining room area too? A lot of these travelers may want to cook and you can charge them extra money for this access. This works well because it doesn't require any extra work on your part other than cleaning up when they are done.

Besides the obvious financial benefits, renting out your couch can also be a great way for you to meet new people from around the world. You can learn from their varied experiences and make connections along the way. You can also use this as an opportunity for professional networking. Since these people are often staying in your home for weeks at a time, that intimacy may breed lifelong friendships.

How to Make a Listing for Your Couch

If you live in a highly active area such as Las Vegas or New York City, you can rent your couch out on many websites like craigslist.org and Airbnb. Additionally, both sites allow you to post ads for free. You can set a price point that works for you, or simply wait for hosts to send you an offer. Some people prefer an asking price fairly high so that they don't end up renting out their couch every night. However, others want the extra income and don't mind keeping it busy, so they keep the price low.

Here’s some simple steps to get started on Airbnb:

1) Create an Airbnb Account

Make a hosting account on Airbnb. Or if you already have an account, log in and create a new listing. Enter any personal details required for your profile, including a welcoming picture of your face.

2) Make an Airbnb Listing

Make a listing for your couch. If you'd like, also include your kitchen, dining room, porch, etc and charge extra. Take as much time as you need on your description. It's also very important to add high-quality photos of your clean home, not just your couch. Make it look warm and inviting.

3) Complete an Airbnb Reservation

After completing the listing, it's time to start hosting. Make sure your couch is available during high-demand times in your area, like during conventions, concerts, and sporting events. The higher the demand, the more you can charge.

Be a Good Host

To be most profitable, you must be a hospitable host. Stock your place with toiletries like a nice hotel. Also, be charming and personable. Your guest will likely be anxious about sleeping on a stranger's couch. While you get to sleep with your door locked, they can't. So help ease that sense of vulnerability.

Since a stranger is sleeping on your couch, it's also a good idea for you to only allow guests with good reviews. In the rare event someone gets hurt or your property is damaged during their stay, you may be protected with up to $1,000,000 USD primary liability insurance on Airbnb.

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