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This website is much like Airbnb... but with a couple differences. Can you make money on VRBO.com, or is Airbnb just straight-up better?
We've got all heard of sites like Airbnb, which allow you to list your very own additional room, house, or apartment for rent instead of an alternative to travelers leasing a hotel or motel room. Share market has made traveling more economical in a great deal of different ways. But the big question is this... is VRBO worth messing with if we've Airbnb on the scene?
This is what I was wondering as I began looking in to it. The entire purpose of all of this would be to begin earning more money with side-hustles. I really like the idea of earning some candy side-hustle money, and am constantly watching for chances to bring a bit more'cheddar' into my bank accounts.
Excellent side effects should always be flexible, consistent, and more profitable. However, with that said there's also a enormous benefit to being able to rent out additional space to travelers to get extra money. This saves them money, puts more cash in your pocket, and can help you to monetize a space that might not otherwise be an asset.
I love sites which allow you to turn liabilities into investments, and that is just what websites like VRBO do.
But is it worthwhile?
Let us test it out.
When you look at VRBO.com's landing page, you immediately think'Airbnb knockoff.' Here are just a few examples of things that they say on the home page.
"Beach home? Condo? Cabin? Your ideal holiday awaits."
"Construct your best holiday ever. From over 2 million house rentals worldwide."
"Escape the confines of a hotel. Enjoy the liberty of a holiday rental."
...etc.
In addition they have a small button below the top-right that states'List your property.'
But as you scroll down a little more, you'll find a different type of installation. Here about the landing page, it seems that VRBO would like you to browse based on what kind of action that you want to do. Some options include...
Beach
Family-friendly
Pet-friendly
Ski
Condos
Apartments
Cabins
etc..
There are also sections for'trending' rentals, and a section seemingly devoted to providing you the choice of renting out an whole property.
Seemingly, VRBO is a part of the HomeAway Family of websites, which seem to be a group of websites dedicated to making touring and traveling easier. Some websites on this list include options like...
HomeAway
Homelidays
Stayz
Bookabach
And more.
I clicked on the link where you can post your lease, and watched a short video about the procedure. And to be honest, it sounds exactly like you would think. This website lets you record your personal property for other people to rent. It is branded a bit differently... and feels like it is focusing on vacation rentals.
But... it is still pretty much exactly the same matter as Airbnb in most respects.
So full disclosure--I reside in a two bedroom, one bathroom apartment in a small-ish city in the Midwestern United States. My lease is pretty cheap, and I live a fairly minimalistic life. With that being said, I wanted to learn how much money I could make if I used to lease my flat out with VRBO... so this is what I did.
To begin with , I needed to create an account. I had to provide my contact number and email address to get this done.
I then filled out my speech, and listed just exactly how many bedrooms and bathrooms my apartment had.
After doing this, I was able to see an estimate. They said my flat can earn me up to $19,089 per year. They also said this was'based on top 10% of possessions' like mine. But ... even though I only earned half this considerably over the span of a year to list my flat, it might still be awesome.
Right now, I actually rent my apartment... so this site is not possible for me. But, if I were to buy a home, I could use this website to turn it into an investment!
I did quite a bit of looking around... and from the looks of it, I do not see that it costs something to list a home for rent. In looking about, I did find reference to a plan that you are able to sign up for on VRBO. You pay $499 annually to the plan, but it provides you lower rates on charges. This plan makes it more economical to let out your property all year around. But if you do not intend on doing a lot of leases, then the pay by leasing model is probably easier. Plus, this does not ask that you pay anything ahead.
I heard all of this by reading through some online reviews. Regrettably, it looks like this procedure is all a bit'concealed' on VRBO till you actually go to put your home up for rent. I was not a big fan of the. I am not completely sure what's going on with all that, but it almost seems as though VRBO.com is really being a tiny bit sneaky about exactly which they bill before you literally almost have your listing done.
I suppose they do not want to frighten people off with the possibility of a subscription? I am not certain. But I always appreciate up-front information. So this took some points away from them.
I also feel as Airbnb gives you greater options than VRBO. VRBO has some amazing rentals available for inexpensive, however they all appear to function as listings for whole houses or flats... whereas, with Airbnb, it is possible to rent out just a room.
Which Is Better, Airbnb or VRBO?
After giving this question a little thought and research, the response become pretty easy for me. I feel as Airbnb is better for everyday folks that want to rent out extra space for additional cash, whilst VRBO appears to be more for folks who have expensive vacation properties and want to rent out the whole issue to travelers over the majority of the year.
If I was planning to rent out a space in a home, I would decide to go with Airbnb. I also feel like Airbnb provides a more'couch-surfing-friendly' form setting, while renting a home in VRBO almost sounds like it'd feel a great deal like renting a genuine suite from a business.
But, with that being said... VRBO does have some amazing listings out there. I really like some of their beachfront listings, and that I could honestly state they competing Airbnb with cost on some things. As someone considering leasing, I would check both Airbnb and VRBO before making a decision.
As for me, I loved a great deal of things relating to this site. It is pretty much like Airbnb, with some small differences. 1 good thing about it's that it makes it simpler for real property programmers to record numerous properties. Additionally, it offers deals which may lower the prices in the long-term. Therefore, because of these things, I would state that VRBO.com is perhaps a more'serious' alternative for folks that want to rent out larger rentals in prime places.
If you only need to rent out a space or two, I am fearful this website probably isn't for you. I don't even feel they allow that kind of thing, to be entirely fair. But... if you've got an apartment, a house, a cabin, a condo, or any other kind of rental which you want to place on the marketplace and earn a little additional money off of, then VRBO.com could be a pretty cool alternative!
Honestly, I feel like using Airbnb and VRBO would be greatest! But again, I am not positive whether there's anything preventing that or not. You would obviously not wish to double-book it or anything similar to this. I guess if you kept on top of it this may work out fairly well... but I would need to do a little more searching around at that.
If you're interested in finding a trendy side hustle and want to rent out your property, condo, apartment, cabin, or suite to travelers in hopes of turning your property into an investment, then that may actually be a wonderful site to attempt it with. It feels more'corporate' compared to Airbnb, however it's surely professional.
You might not get rich with this, but it really does provide some critical opportunities.
In case you list your home on it and attempt to let it out for some extra money?