Are you facing troubles with how to utilize unique spaces at your vacation rental? Or just maybe experiencing low seasonality? Whatever it may be, Peerspace is one of a kind online marketplace to list and book underutilized space for hosts to earn additional income apart from listing in Airbnb.
With that said, this article will give a gist on how to maximize your unused space while earning an extra income. Let’s take a look at:
Peerspace is an online marketplace that connects professionals and creators to book and list unique and underutilized spaces for a range of creative and productive use whether it is a full-day offsite, a quick meeting, or a production of any kind or a social or corporate event. In simple words, Peerspace is a platform like Airbnb that helps individuals or businesses find and book inspiring and one-of-a-kind spaces to make more efficient use of the space, allowing them to safely and conveniently share with other professionals in need.
Peerspace is an online marketplace for hourly venue rentals and if you have underutilized space, then take advantage of the platform as it has its perks. Hosts using Peerspace will have the opportunity to list utilized spaces for either events, venues, meetings, or even productions purposes for extra income. More so, you have full control over how you choose to share the space.
Additionally, on Peerspace, you will have your own listing with photos, prices, and details. Once the space is rented, guests are encouraged to leave a review on their time at the venue, and the better reviews, the better potential for more income.
A great way to earn an extra income is by making your space a go-to around your neighborhood. Keep in mind, a lot of photographers or artists find spaces that are ideal for their purpose.
So why not, make use of the amenities for props. It could be from vintage furniture to stools, etc that may come in handy for photographers. Apart from that, sharing your space is a great way to stay connected with the local art community while earning additional income.
Affordable storages facilities are hard to find especially when people do have a lot of things. So why not list out your underutilized space whether it is the garage, attic, basement, or shed to who requires it.
More so, you have control over the length of the rental and price. Though, ensure to set some guidelines in your contract like how often the renter will be allowed to access their space and what is allowed to be kept in the storage. Even more, do establish legal liability conditions as well in the contract between you and the renter. That way, you will not be held accountable if anything does go wrong.
Parking facilities especially in urban neighborhoods are hard to come by and might be expensive. But if you do happen to have a garage or driveway conveniently located in a demanding neighborhood, why not take the opportunity and rent it out for the extra income.
Do you own a private office? If yes, why not earn additional income to cover some of your operational costs by renting out your Airbnb space to clerks, managers, etc. which can be used for meetings, workshops, or networking events.
Keep in mind, office spaces with natural light, good WiFi, coffee, and nearby parking are in high demand therefore renters will come piling in.
Before your listing is placed and seen by millions of people in search of space, it is important to set the price, add photos and descriptions.
Through the Peerspace platform, you can message guests and accept bookings. Therefore, as soon as it is approved, the guests will receive details on the location such as how to get there as well as details like your WiFi password.
Guests who booked the space are charged upfront through Peerspace’s secure payment system where the payout is directly deposited right after each booking. Though, be aware that Peerspace deducts a 15% service fee.
When booking through the Peerspace platform, the host can benefit from:
With that in mind, all communications between the host and guests are required to be conducted through the platform as safety is of the highest priority for Peerspace. And the only way to be protected under the cancellation and overtime policies, dispute resolution process, secure payment system, and fraud safeguards is to ensure both host and guest use the platform for messaging and payments only. To learn more about appropriate use, check out Peerspace’s Community Guidelines.
Apart from that, Peerspace got you covered by:
Hosts are covered for general liability protection from lawsuits carried by third parties such as guests, claiming for bodily injury or property damage suffered during a booking. The claim is up to $1 million or for hosts in the UK is £1 million. To learn more, check out the Peerspace Host Insurance Policy page.
Guest profile pictures are normally added so that hosts know who they are communicating with and build trust among both parties. Moreover, after every booking, both hosts and guests can review each other in order to be aware and held accountable for any circumstances.
Peerspace provides a customer support team, open daily; that is happy to help if something goes wrong.
Additionally, Peerspace introduced several features that allow your booking to run smoothly such as an event details page with information on how to access the space that can be a reference and share with your guests.
(Tip: Check out: Vacation Rental Cleaning: Tips and Tricks)
To create an account, first and foremost, you could either sign up online or download the app to easily manage the account from your mobile phone. A valid email address, Facebook or Apple ID credentials are required when creating an account.
Once the account has been created, when setting up, be aware of the requirements required for verification purposes:
Once completed, a 4-digit verification code will be sent via email that needs to be verified in order to proceed to the next step- listing your space.