Photo: Krista Abel (Shutterstock)
The sharing economy seemingly allows you to turn every skill you have and everything you own into an income stream. In addition to driving and delivering and dog walking, you can rent out your home, car, RV, garage, and/or parking spot to strangers for cash. In the last few years, backyard swimming pools have also entered the picture via Swimply, which hosts by-the-hour rentals for private homeowners.
Listing your pool seems like an easy source of passive income—and if you’ve already paid the upfront cost, you may as well, right? Especially when you read headlines about people making $177,000 in revenue in just two years.
But as with Airbnb or any other peer-to-peer sharing network, it’s likely more complicated than posting a few photos, calculating a rental rate, and watching the bookings roll in. Does listing your pool on Swimply actually pay off?
What influences pool rental rates?
Swimply allows you to set your own hourly rate, which may range from around $30 to several hundred dollars per hour for up to five guests plus an additional hourly per-guest fee for larger groups. The platform recommends undercutting prices in your area when you’re starting out to attract bookings and then increasing your rates once you have a handful of reviews.
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There are a bunch of factors that affect how you set rental rates:
- Location: Both your city and neighborhood will affect what you charge—supply and demand, right? A search for pools in Los Angeles shows generally higher hourly rates than those listed in Salt Lake City, while New York City hosts are charging …….