Your spare room could be a goldmine

Business Daily Kenya: 

Your spare room could be a goldmine.

Your spare room was once a place you stored all your obsolete stuff. however with swelling commodity prices fuelled by spiralling inflation, erratic house rents along with also stagnant salaries ─ you need to look inward for solution.

Demand for holiday accommodation can be at all time high, as more people travel across the entire world however want to do so affordably. The global hotel industry revenue was project to apex Sh60 trillion ($550 billion) last year.

The industry revenue was worth Sh50 trillion ($457 billion in 2011, which indicated an increase in revenue by almost Sh10 trillion ($100 billion) into 2016. PD Wikendi sought to enlighten you on how to convert your spare room into a goldmine.

Spare rooms have been a hoarder’s paradise full of dusty paperbacks, old shoes, furniture along with also an untidy pile of unwanted birthday presents, however, globally the idea can be undergoing a rebirth.

More people are willing to rent your spare room for a couple of days for a relatively not bad cost. So why not rent out that will extra room for some cash.

Sign up to Airbnb

Airbnb can be an online marketplace along with also hospitality service, enabling people to lease or rent short-term lodging including vacation rentals, apartment rentals, home-stays, hostel beds or hotel rooms.

Founded in 2007 as a kitchen table start-up, Airbnb can be the global internet phenomenon that will enables “hosts” to upload pictures of their guest rooms, set a cost along with also wait for the bookings to come in.

According to the Telegraph, the website currently features two million homes in 190 countries including Kenya with people in Mombasa utilising the idea more.

Prices can range anywhere coming from Sh2,000 to Sh6,000 or more depending on what comes with the package. According to Anna Kauppi, a frequent Swedish tourist to Kenya, who often uses the facility, the idea can be the best way to travel.

“the idea gives you the ambiance of a home along with also can be relatively affordable compared to conventional hotels,” she told PD Wikendi.

According to On-the-market web, the key to harmony depends on the tenant fitting in with their landlord’s lifestyle. This particular provided that will lodgers along with also landlords establish ground rules coming from the start.

the idea can be a mutually beneficial relationship. Renting your house ensures the landlord has an extra source of income along with also the lodger gets a roof over his or her head.

What’s more, there’s no shortage of demand. however if the idea of having a stranger living in your home long term doesn’t appeal to you, consider letting out your spare room to tourists, advises the website.

You can charge more for short-term lets along with also only rent out the room as along with also when the idea suits you. can be also another website where you can advertise your spare room to tourists around the entire world, specify who can stay along with also set the cost.

If you don’t have a spare room you could rent your whole place out while you are on holiday along with also recoup the cost of your own trip. Renting out a room does not have to be a difficult affair either.

If you live in a suitable spot you could get yourself a commuting lodger who only wants the room on week nights through a website such as that will way you get extra cash in your pocket however also have your house to yourself during weekends.

The post Your spare room could be a goldmine appeared first on Mediamax Network Limited.

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Your spare room could be a goldmine

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