A lot more Twin Cities residents are signing up for Airbnb - Bring Me The News

A lot more Twin Cities residents are signing up for Airbnb

Hmm ... I wonder why?
Author:
Publish date:
 Credit: Airbnb

The number of Twin Cities homeowners signing up to rent rooms or their entire homes through Airbnb has shot up in the past six months.

The home-share website revealed the number of Airbnb hosts in Minneapolis and St. Paul has risen by 73 percent since February.

The Twin Cities had 1,000 Airbnb renters in February. That number is now 1,730, according to an Airbnb press release.

The reason for this? Perhaps it's not surprising, but Airbnb says much of it is down to the Super Bowl, with homeowners looking to cash in on the hundreds of thousands of visitors expected in town for the week.

Related: 
The Tip Jar: Is staying with Airbnb a better deal than a hotel?

Earlier this year Airbnb launched Project 612, which is designed to double the number of Airbnb renters in the Twin Cities.

The program makes it easier for homeowners to become Airbnb hosts, holding events where existing hosts give tips on how to ready a home for renters, and offering pricing tutorials to give prospective hosts an idea of how much they can charge.

The company has also been working with Minneapolis and St. Paul to create a situation where Airbnb collects occupancy taxes from the hosts, and pays it directly to the cities so homeowners don't have to worry about the paperwork.

That hasn't reached a resolution yet however, with Airbnb noting that only St. Paul has released a draft short-term rental ordinance so far, which it describes as "overly-cumbersome."

Minneapolis is still working on a draft.

How much can you make?

Now, with demand expected to be high during the Super Bowl, the temptation will be to hike prices in the hope of securing a windfall.

However, Airbnb said that during the 2017 Super Bowl in Houston, the typical listing price in the city was just $150 a night. And even places close to the stadium were around $200.

Prices however will vary depending on what you're offering to rent. Those just offering a bedroom in their house will likely have to charge less than those offering entire apartments or homes.

And bear in mind that as well as taxes, Airbnb will take a fee of 6-12 percent from whatever you earn.

Information on hosting an Airbnb can be found here.

Next Up

Related