Today, most travelers are looking for privacy, private pools and kitchen, something that most hotels don’t offer. Thus, if you’re a home owner who has some extra space, this is an opportunity for you to earn some extra cash.
Other factors leading to a rise in demand for residential hosting include:
- They are more comfortable
- Vacation rental properties are cheaper than hotels
- Most properties are pet and children-friendly
- They have added privacy
And the global vacation rental market is projected to expand at a CAGR of 3.4% between 2020 and 2027.
In this article, we take a look at the top 12 best resident host you could consider working with.
Types of Accommodations
When you decide to join the market and offer up your home or apartment to travelers at a cost, you can offer one of the following:
1. Home Accommodation
This is currently the leading type of accommodation with a 47.2% share in the vacation rental market. Usually, homeowners with large spaces rent out the space to travelers. It is mainly an attractive option because it has amenities, wide spaces, and safety.
Also, since most of these homes will be in rural and travel destinations, the accommodation cost is lower than hotels.
2. Resort/ Condominiums
This type of accommodation is the fastest growing in the market. It is also more common among millennials who want to stay in luxurious yet affordable spaces. They also have extra amenities like game courts that are not available in homes.
3. Apartments
Apartments are common because they come with additional facilities like barbeque pits, game kits, multi-purpose rooms, function rooms, basketball courts, and swimming pools.
How do you make money as a resident host?
As travelers plan their trip, they spend a lot of time looking for affordable yet holiday-like accommodations. You can boost your income by renting that extra space in your home or an apartment.
To attract visitors, you will need to advertise your vacation rental property. You can list it on different platforms, add accurate descriptions, and follow some high-quality photos.
Top Vacation rental platforms
You can list your property on the following platforms:
1. Vbro
Vacation rental by owner or Vbro is part of the Expedia Group and sister to HomeAway. It provides vacation rental services to travelers in the US. Vbro offers the best rental features to hosts looking to earn some money.
Accommodation at Vbro includes anything from condominiums to cabins. The site has over 2 million rental properties. Vbro allows hosts to set their prices, rules, and dates, giving them complete control of their homes. All Vbro does is connect the host with a perfect group of travelers to stay on their property.
How Vbro works
Signing up with Vbro as a host is simple. You set up your property, indicating all the unique features of your property. It helps if you include some lovely photos as well. Set your price and release it to the catalog.
You then start earning when people choose to stay on your property.
Top Features
- Vbro hosts can choose a $499 annual subscription or pay per booking
- For the pay-per-booking option, hosts pay a 5% commission and a 3% credit card charge for every booking
- You can only list private property
- Guests pay a service fee for their booking, up to 12%, which covers cleaning, pets, or other fees
Become a host with Vbro today.
2. Airbnb
You have probably heard of Airbnb at some point. It is a reputable site where you can list your vacation rental property. Airbnb has many listings in almost all famous travel destinations. The platform is simple and has a prominent property map.
Hosts get the opportunity to make money from short-term rental services. You can become part of the 7 million listings from over 20 regions worldwide. At Airbnb, you can list anything, anywhere.
Airbnb is a fast-growing vacation home rental site with a huge brand name.
Features
- Hosts list their properties for free
- Depending on your location, you can pay a service fee of 15% per booking, or the guests will pay 15% while you pay 3% fees
- Hosts get a $1 million guarantee insurance policy
- You can list different properties, from shared rooms, cabins, treehouses, or beach houses
Start your vacation rental business today. Sign up with Airbnb now.
3. Booking.com
Booking.com is the OG of vacation rental properties. Here, you can find anything you want. From hotel rooms to apartments, resorts to condominiums, if you want it, Booking.com has it. It has over 28 million listings in 226 countries, and you can be part of them today.
Since the platform does not have a recommended payment system, hosts can choose the one they prefer.
How Booking.com works
To list your property on Booking.com, you:
- Provide all the information about the property, including available amenities, reviews, and contact information
- You also include whether you refund bookings or not, or if you have a cancellation penalty
- Include the house rules that guests must follow during their stay
- Request a damage deposit for security
Top features
- You can list your property for free
- Hosts pay a 15% service fee to Booking.com from their direct debit account for every booking
- Guests do not pay commission when making reservations
- Instant booking only
Enlist your property with Booking.com today.
4. TripAdvisor
TripAdvisor dates back to 2000 and ranks among the best vacation rental sites. It is a well-known brand among travelers and reviews of hotels in over 200 countries.
TravelAdvisor is famous for its comparisons that recently acquired FlipKey and Holidaylettings, other great vacation rental site. The platform has a mix of properties. If you decide to host your property with TripAdvisor, you can choose your form of payment.
You can list your hotel, restaurant, tourist attraction, or vacation rental at TripAdvisor free.
How TripAdvisor works
Enlisting your property at TripAdvisor is straightforward.
- You set up your free listing
- Guests search and find their perfect choice, your listing
- They contact you for more information
- If you accept the booking, your guests pay through the TripAdvisor payment system for security
Top features
- Free listing of properties
- 3% commission paid by hosts per booking
- When you list with TripAdvisor, you also appear on FlipKey, Holidaylettings, Nyumba, and HouseTrip, meaning more exposure and visibility
- Guest fees range from 8% to 16%, included in their invoice
List your property with TravelAdvisor today.
5. Expedia
Expedia is a vast online travel platform where you can enlist your property as a vacation rental. It offers secure booking and some sweet vacation packages.
The host can list lodgings or private residences and bring the perfect guests to their homes. Private hosts get to set their prices, availability, policies, and rules.
Top features
- Hosts can list their property for free
- 10-30% commission per booking
- Expedia attracts millions of travelers per year, which means you get a higher chance of being seen when you list with them
Sign up with Expedia and attract your ideal guests from all over the world
6. 9flats
9flats offers the perfect alternative to hotels for travels around the world. Since 2011, the Germany-based company has offered hosts from over 100 countries the opportunity to make money by renting their homes to travelers.
How 9flats work
You can be part of the millions of hosts offering up their homes to travelers for accommodations. 9flats work in a simple manner:
- List your place, including an excellent description, some quality photos, the address, and your pricing
- Accept only the bookings you like within 24 hours, or sign up for the instant booking option
- Prepare your home to welcome your guests
- Get payment directly from 9flats one day after your guests arrive
Top features
- Hosts list their properties for free
- A 12% fee from hosts with an instant booking option
- 15% service fee for hosts without the instant booking option
- Accommodations include treehouses, boats, and castles, among other unusual accommodations
- Guests do not pay any booking fees
Visit 9flats.com for more information on how you can list your property as a vacation rental.
7. Homestay.com
Homestay is a unique vacation rental platform. Rather than exchanging money for the stay, the host and guest can exchange homes, or the host can stay at the guest’s house later.
Homestay offers its services in over 160 countries, with more than 55,000 listings. There is no monetary remuneration, but instead, the hosts and guests work through barter. For instance, a guest can stay at your home in exchange for their housekeeping services.
Top features
- Hosts pay a 3% service fee per successful booking
- For additional services like laundry, the host negotiates the price directly with the guest
- The platform specializes in private rooms
- Guests can check-in and stay for free in exchange for their services like working at the host’s property
- Guest pay a booking fee
List your property with homestay.com today.
8. Atraveo
atraveo is another excellent resident host platform aimed at vacation rentals. It has over 300,000 vacation homes across Europe. The main advantage that property owners get from listing their property is the extensive advertising they enjoy.
atraveo conducts rigorous advertising in travel guides, search engines, and more than 1,000 websites across Europe.
How does atraveo work?
- You start by creating a holiday accommodation profile
- Describe the property. You include images, prices, and location. You also include the occupancy calendar for your property
- atraveo then starts advertising your property to reach millions of travelers
Top features
- The listing is free for hosts
- Hosts pay a 15% service fee for a confirmed booking and VAT where applicable
- Since atraveo is a mediator between vacation rentals and tourists, it charges a service fee for transactions
Become a host with atraveo today.
9. Interhome
You can join the 95,000 vacation homes in 31 countries by listing your property as one. Interhome, which has been operating since 1965, allows property owners to reach millions of travelers looking for accommodation for their trips.
Top features
- Guests get personal in-resort services
- Hosts get full property management services
- No booking fees for the guests
- Service fees charged to hosts depend on the region, country, and type of services you receive from the Interhome team
Register your property as a vacation home with Interhome today.
10. NOVASOL AS
Whether you have a beach house, a classic vacation destination, or a holiday apartment, you can start earning by renting it out to travelers. NOVASOL helps homeowners find travelers to stay in their homes anywhere in Europe.
Renting out your house through NOVASOL earns you some extra income. The amount you get depends on the size of your home, your location, facilities available, and the condition of your home. You can join the 50,000 holiday homes in 19 countries to find the perfect guests for your home.
Top features
- NOVASOL uses analysis statistics of the market to set prices for your property
- Once you sign up, you get advertisements in the holiday rental market, including partner programs like Airbnb, HomeAway and Booking.com
Enlist your property with NOVASOL today.
11. Couchsurfing
Couchsurfing is a good resident host platform. It is a community with over 14 million members in over 200,000 cities worldwide. The platform connects you with people who have tips on making traveling fun and meaningful.
Couchsurfing connects travelers and locals through their events. If you attend an event or two, you can decide to set up your couch. This means availing your couch, air mattress, or spare room available to travelers visiting your area.
Sign up at Couchsurfing and get travelers staying at your home during their trip
12. OneFineStay
If you have a luxury home in popular locations like New York, Paris, Rome, LA, San Francisco, or London, you can list it to earn money from travelers.
OneFineStay has the support of the Accor Hotel chain, including the famous Fairmont Hotel and Swissotel Group. To apply as a host, you send in your application to OneFineStay, who then reviews your property.
You also enjoy full-service management for your property. Your income as the host depends on the size, location, and property design.
When you sign up with OneFineStay, you share your income with them but get a wider audience of guests looking to stay in luxury properties.
Top features
- Supports luxury properties only
- Hosts get full-service property management
- Travelers pay fees depending on the number of days the host is renting, location, size, and design
- No additional fees for guests during the reservation
Apply to rent out your space with OneFineStay today.
Conclusion
It is challenging to find a private vacation rental site for your property. There are many options, but only a few takes care of your wallet and help you manage your bookings. When searching for a platform, be clear about your goals and have a target audience in mind.
Once you have that, finding a website that matches your demands will be easy. The list above includes all the best websites for rental properties, including luxury homes, to apartments. Find the one that you like and sign up today.
You could be sitting on a goldmine. Earn more by renting out your home or condominium to tourists today. You can as well look for other good business opportunities and work with the ones that make most sense to you.
