The popularity of Airbnb — the site that allows would-be travelers to find more personalized lodgings on the cheap and lets homeowners rent out their spaces to bring in extra income — only continues to grow. And now, there’s even a show that is all about making the most out of this side hustle. Netflix’s “Stay Here,” hosted by Genevieve Gorder from “Trading Spaces,” is all about transforming underperforming Airbnb rentals into the most popular vacation destinations on the platform.
As the cost of living goes up, Americans are often forced to juggle several jobs just to make ends meet. Around 30% of all workers in a 2018 survey responded that they weren’t confident they’d have enough money to pay for medical expenses in retirement, but a financial cushion can be easier to come by with a side hustle. For many homeowners, that’s where Airbnb comes in. On the site, they can rent out a spare room or even an entire house to make some additional cash. In some areas, the practice can be quite lucrative.
That is, if your property is universally pleasing. While there are 1,547 timeshare resorts and more than 53,554 hotel properties throughout the United States, a lot of people would rather stay in more charming (and often less expensive) lodgings. But not all properties perform equally well on Airbnb. Just like any other type of real estate, investing in a property can bring a higher ROI — which is why some property owners have enlisted the help of the “Stay Here” team.
The show’s first season features eight different properties located in different major U.S. metropolises, including New York City, Seattle, Austin, Palm Springs, and Washington, D.C. The properties are quite unique, ranging from a houseboat to a former firehouse. Although 34% of homebuyers who purchase new properties are looking to avoid renovations and problems with electricity or plumbing, these owners are more than willing to take on a remodel.
That’s fortunate since the properties will undergo a total transformation during each episode — and the owners get a bit of an education, too. In addition to the visual and functional improvements made to these properties, the owners get to learn more about branding, digital marketing, and proper vacation rental pricing. In most cases, the owners are able to earn quite a bit more per stay due to the added amenities and Instagram-worthy appeal.
While the show leaves out a lot of the pitfalls associated with rental properties, it’s definitely a feel-good program you can easily binge watch on a rainy Saturday. Plus, if you live in one of the cities with a featured property, you can actually get the chance to book a stay and experience the improvements for yourself. Of course, you’ll be competing with a lot of other travelers — and you’ll have to be willing to part with a bit more cash than you would have pre-makeover.
