The current state of the global economy has forced many people to consider other forms of income. One of these is creating a short-term rental space in your home. Short stay or short-term rental areas are not a unique consideration for people living in the tropics. However, I feel that many of our countries are a tropical paradise that are popular travel destinations for tourist. Creating a short stay rental space as a side income, may not be a bad idea.
COVID-19 has changed the world in so many ways. What seemed to be a stable income has been yanked from under our feet. Whether we were forced to reduce our hours, take a salary cut or lost our jobs completely, we have found that having that one income stream is not enough in a post-COVID-19 environment.
The pandemic has also shown many of us that our jobs do not necessarily restrict us to a specific geographical location. Many persons from all over the world are considering the option of doing their work from another country.
Hence, the option for a city dweller from a cold, temperate country to live and work from a tropical paradise, is sounding more and more inviting.
I have recently been thinking about what I would do to my home if I wanted to take advantage of creating a short-term rental space. I have also thought about what I could consider if I were to design a future home for myself or a client.
Keep in mind that different countries may have various requirements and restrictions on how you can operate a short-term rental unit. Check with your authorities before making any decisions.
Here are some ideas and things you can consider if you are thinking of adding a short-term rental accommodation to your tropical home or property.
Design Features And Considerations
I have stayed at a few Airbnb spots in the US. Initially, I was very hesitant to do this. I felt like it would be an uncomfortable situation staying in someone’s home. Some of the questions I had were if it would be safe, will I have my privacy or even if my night owl tendencies would be an inconvenience to my host.
Needless to say, if I was thinking that way as a guest, that feeling is amplified times over as a potential host.
I have had the opportunity to stay in slightly different types of Airbnbs. These include a home where the host does not live and a private bedroom and bathroom in the home of the host. I have also stayed in a private bedroom but shared a bathroom with the host.
Regardless of the type of short-term rentals, all my stays in Airbnbs have been pleasant experiences.
However, they are a few things I would prefer to create in the ideal situation.
Separate Entrance
Though not critical, I think it is nice to have a separate external entry to the guest room. This gives a more comfortable experience for your guest to come and go as they please. It could also reduce the interaction they have with you and your family, particularly in common spaces like the living room.
We tend to like our privacy in our homes. It is our safe space. Opening it up to a stranger can be a concern for many of us.
Creating a separate entry and lounging space in the guest area would be a great bonus for both you and your guest.
Separate Bathroom
A bathroom is a very private and personal space. Hence, this one is a bit more important to me. I think providing your guest with their own bathroom is a huge bonus for both you and your guest.
Having shared a bathroom with a host before, it can be a little off-putting using the bathroom facilities after someone else has used it.
As a host, ensuring that it remains clean after each time you shower may be a challenge. In addition, your guest may not be up for that challenge either. Hence, you may have to be cleaning before and after every time you use your bathroom.
Proper Ventilation
Tourists tend to come from cooler countries. They are also more accustom to having air-conditioned spaces.
I am not a fan of using air-conditioning in tropical residences. A well-designed home should be comfortable without it.
However, having spent some time living in the USA, I have realised how much they prefer cooler temperatures.
I shared an apartment with two American roommates while in university. Having lived my entire life in the tropics, that apartment was very cold for me. The air-conditioning control and thermostat were in a central location and served all the rooms. While I was in long sleeve shirts, long pants, socks and a hat, my roommates were in shorts and armhole shirts.
Hence, it may be a challenge to get natural ventilation anywhere near the temperature some visitors are accustom to.
However, if you can create good natural ventilation strategies and supplement it with fans, it may be adequate for your guest.
It may also help to give a more uniquely tropical experience than the air-conditioned environment.
Types Of Short-Term Rental Spaces
With this in mind, here are a few types of short-term rental spaces that can be considered.
Spare Room
You may already have your home and looking to make some extra income from that spare room. Perhaps your children are now grown and have moved out and now you have extra space.
Converting your extra room into a short stay rental could be a good way to supplement your income.
Ideally, it would be nice to have a separate entrance, but this is not a deal-breaker. Entrances to homes tend to be near to the living room. However, many of us do most of our lounging in our bedrooms. It has a big enough tv and a very comfy bed. If that is your situation, then sharing the entry with your guest is not a big deal.
Consider using a keyless door lock. This is more convenient as well as safer.
I also think it would be more convenient if they have a personal bathroom. It would be less stress on you as a host having to clean and maintain it. I think it will also get more potential guest. However, don’t let this restrict you from getting additional side income.
Self-Contained Apartment
Creating a small self-contained apartment or renovating your guest room into an apartment could be a great idea, provided your condition allows it.
It doesn’t need to be extravagant. Just a bedroom and bathroom with a small lounge area and a tiny kitchenette are adequate.
This could be attached to your house or a separate unit on your property.
I think this is a more ideal situation where privacy and convenience are concerned. It may be a bit more upfront cost.
However, you get to maintain your own space and privacy. Likewise, I think guests who can afford it, would prefer to pay a bit more for their own private space.
Duplex
A duplex is a multi-family home that consists of two units sharing a common wall. This is perhaps more suited for long-stay visitors and renters since both units are fully self-contained homes.
However, if you have a two or more-bedroom duplex home, you can live in one and have the rooms of the other one rented for short stay visitors. Each room could be listed separately. Hence, guests may have to share the unit with other guests. You, however, get to maintain your privacy.
This, along with the self-contained apartment are both great ideas for creating units that generate income. It can assist with paying your mortgage and general maintenance expenses.
I think it could also force us to be more efficient with the space that we need for our own homes without building large homes with redundant spaces. However, if you absolutely need the extra space you still have access to this extra real estate that you can use.
Conclusion
Having a second or multiple income streams seems more relevant now than ever before. Creating a short stay rental unit to generate additional income can be a great idea.
Consider turning your spare room into a guest unit. With some extra renovation work, you can even turn it into a small studio apartment. Duplexes as well as attached or detached self-contained apartments are good options for generating secondary income.
Try where possible to give the guest a separate entrance and bathroom. This can be more convenient for you and your guest. Providing good natural ventilation and fans are critical to creating a comfortable environment where air-conditioning is not available.
Creating a short-term rental unit to generate income should be a big consideration when building or renovation your home.
Featured image by Andrea Davis on Unsplash