The number of Twin Cities properties now available for rent through Airbnb has reached 2,650.
That sounds like a lot
It is. Airbnb launched an initiative earlier this year called Project 612 aimed at doubling the number of Airbnb "hosts" in the Twin Cities metro from 1,000 to 2,000 by Feb. 4, 2018.
It has achieved that easily, with time to spare, with growth "far exceeding expectations."
Why Feb. 4?
It's the Super Bowl, obviously. The arrival of the biggest event in U.S. sports in Minneapolis is expected to attract a huge number of visitors to the Twin Cities.
This, in turn, is leading homeowners to look to cash in on arrivals to the metro area – the average listing can expect to make $150-$200 per night renting out during the Super Bowl period.
What rules do hosts have to follow?
Minneapolis passed new ordinances aimed at Airbnb renters that stipulates you need to buy a license in certain circumstances.
You don't need to pay a license fee to rent out a room while you're still staying in your home, but if you plan on moving out for a few days to make way for renters, you'll need to pay $46 for an annual license.
If you're a small business renting out multiple units (fewer than 150), you'll need to pay $630 for a license, while big businesses with 150+ accommodations under their control (like Airbnb) have to pay $5,000.
In St. Paul, you need to pay $40 a year if you're a property owner and want to rent out your house (or a room in it) on a site such as Airbnb – this includes if you're staying in the property while hosting guests.
Meanwhile short-term rental companies that want to operate in St. Paul (Airbnb, VRBO etc.) will need to get a $10,000 license every year, according to council documents.
How do I become a host?
The Points Guy has tips on how to be the perfect host, which you can find here.