If you are fortunate enough to have some extra space in your home, condo, or apartment you could be sitting on a goldmine. Airbnb has revolutionized the way people seek out accommodations and with a clear plan, hard work and the stomach to purge all of those unnecessary “things" you have acquired and squirrelled away over the years and decades, everyone has the opportunity to cash in.
The most obvious, least expensive and complicated, but most intrusive, rent out a room. Traffic flow among many other factors would be a huge consideration in this option. Do you really want to bump into your guests in the middle of the night as you both head to the bathroom? The main entrance for your guests is another huge consideration. Is there a way to have them come in and out without affecting the flow of the home? Also the kitchen or eating zone, where is it and can it be accessed from 2 different areas of the home? Perhaps 2 pocket doors that access the room? Just one of many options to help make a paying guest in your home work out. All important questions but all possible if planned properly from the onset.
Lucky enough to have a large extension, loft, garage or garden room? You could convert it into a apartment. Often, this kind of conversion will add value to your home as well as provide you with an additional income. Although more expensive and much more detail involved to get this up and running, the advantages are huge! Your personal space would be unaffected and the renters you would attract would grow exponentially. Don’t let the size of your potential rental space deter you. It is amazing what can be done in tiny spaces. Low overhead, less cleaning and maintenance are some advantages to name a few. The key - good design from a functional and aesthetic perspective from the beginning and let the extra money roll in!