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Airbnb hosts who welcomed at least one guest in the first six months of 2021 earned an average annual profit of $9,600, according to Airbnb’s own data. What’s more, half of the site’s activated listings didn’t have to wait more than four days to receive their first reservation request.
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That was before the omicron strain, but this winter’s surge of infections has so far not triggered anything close to a repeat of March 2020, when The Wall Street Journal reported that Airbnb lost $1.5 billion in bookings overnight. In fact, all signs still point to a notion that isn’t lost on aspiring real estate investors — it pays to own a rental property.
Make no mistake about it, the lingering pandemic is not making life easy for Airbnb hosts, but the status of Airbnb host is still the ultimate side hustle.
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There’s Gig Work, and There’s Airbnb
Earnest, a tech-driven fintech lender, recently released a report on the sharing economy based on data from tens of thousands of loan applications. It examined the profitability of nine of the most popular money-making platforms in the gig economy, including Uber, Lyft, DoorDash, Fiverr, Etsy and TaskRabbit.
Across all platforms, the average gig worker makes less than $500 per month, but one name stood out above all the others by far — Airbnb. Airbnb hosts earned more than triple all other workers, with nearly half earning more than $500 per month.
The monthly average for hosts was $924, blowing away No. 2 TaskRabbit, whose users average $380. A full 10% of Airbnb hosts earn $2,000 or more per month. On every other platform except TaskRabbit, either 0% or 1% made $2,000 per month.
In short, if the average person has the choice of working on the side or renting out a place, it isn’t really a choice at all.
See: 22 Side Gigs That Can Make You Richer Than a Full-Time Job
The Pandemic Has Opened a Window of Opportunity
Because of 2020, conventional wisdom says that Airbnb will fall with every surge of the virus and rise again with a new release of pent-up demand when it fades. That seems to be changing.
Several news outlets have reported a shift in travel dynamics that’s trending away from short-term rentals and vacations in favor of long-term getaways booked by newly liberated remote workers.
According to Motley Fool, Airbnb has gained the most …….