Cha-Ching! Homeowners Using Airbnb As Side-Gig During Graduation Season
DETROIT (WWJ) - The graduation season is upon us and what's a parent to do if all the hotel rooms in the area of your child's college or university are booked?
Enter Airbnb. Enter side-gig for enterprising homeowners using Airbnb to rent out an extra room (perhaps the room formerly occupied by your soon-to-be college graduate) and what you get is a mini-boost in the local economies.
At least, that's what is happening in Michigan.
Homeowners in and around the University of Michigan, Michigan State, Wayne State, and universities on the west side of the state are cashing in on the need for overnight accommodations.
In the span of a few weeks in April and May homeowners in Michigan have brought in over $250,000 by renting out a spare room through Airbnb during graduations.
Most of us can relate to having to book hotels 1-2 years in advance of college graduations," says Will Burns, Airbnb Michigan policy director. "We're very encouraged to see how our platform has been utilized to provide affordable lodging accommodations for college families during stretches when hotels traditionally reach peak occupancy."
The usual cautionary tales apply when renting out a room in your home for temporary accommodations -- and it's not a scheme for everyone -- but the ones who have made it a reasonable fit in their environment are making it an economic boost too.
Here are the numbers from Airbnb behind the story:
University of Michigan (Ann Arbor)
Commencement Dates: April 29
Total Airbnb Guests: 432
Total Airbnb Host Income: $122,000
Active Airbnb Hosts: 610
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 51%
Wayne State University (Detroit)
Commencement Dates: May 9-10
Total Airbnb Guests: 362
Total Airbnb Host Income: $99,000
Active Airbnb Hosts: 330
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 50%
Michigan State University (East Lansing)
Commencement Dates: May 5-7
Total Airbnb Guests: 85
Total Airbnb Host Income: $12,000
Active Airbnb Hosts: 57
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 76%
Western Michigan University (Kalamazoo)
Commencement Dates: April 27-29
Total Airbnb Guests: 87
Total Airbnb Host Income: $16,000
Active Airbnb Hosts: 53
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 53%
Eastern Michigan University (Ypsilanti)
Commencement Dates: April 29
Total Airbnb Guests: 41
Total Airbnb Host Income: $6,000
Active Airbnb Hosts: 39
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 56%
Central Michigan University (Mount Pleasant)
Commencement Dates: May 5-7
Total Airbnb Guests: 20
Total Airbnb Host Income: $1,000
Active Airbnb Hosts: 10
Percentage of Airbnb Listings that are Extra, Unused Rooms in a Home: 44%
