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Vacationing this Summer + want to earn some extra cash?

March 15, 2017

 

As you start to make vacation plans - you may wonder if it might be a good idea to rent your house to tourists while you're out of town.  I'd say YES!  We've done this in the past; it's easy and can pay for your vacation (or at least part of it).  Here's my tips to AirBnB success:

 

1.  In Portland, you must have a permit to rent your house on a short term basis. The penalty can be pretty steep - so don't be tempted to skip this step.  (Note:  this may take weeks since there is a backlog - plan accordingly!)

 

2. Locate a room in your home that may not be necessary for guests to enjoy your home (basement, storage, office, etc) and ensure you can lock it.  Locate your valuables and lock them in this room.

 

3.  Purchase a combo box to store your key outside somewhere (on a utility or gate is ideal).  This way, guests can check themselves in and out.  This will also come in handy if you are renting to multiple guests during your time away.

 

4.  If you have multiple guests - or just want to come home to a clean house with fresh sheets and towels at the ready - consider using a cleaning service like Nest + Clean.

 

5.  Wait - will I have to pay taxes on this income?  It depends how many days you rent your home. If it's 14 or less, you're of the hook (at least for now!)

 

6.  I'm scared!  What if someone steals my TV or breaks my dishes?  Luckily the site is review driven - so you can read up on the guests. I've had zero issues.  Plus, they provide pretty generous insurance against theft and damage.

 

Any questions?  I'm more than happy to help!  

 

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