Do you dream of quitting your job and earning passive income? If you own or rent property, especially property that is private, beautiful, and in a desirable location, you can make probably make a huge income renting space. Luxury camping or “glamping” has become big business. Many companies such as AutoCamp, Under Canvas, and Glampotel, are investing millions into offering rustic accommodations in natural settings. Websites like HipCamp and Airbnb offer vacationers the opportunity to rent anything from a patch of dirt for a tent to an Airstream trailer or cabin. if you own property, or even just rent it, you too can get in on the action.
Many vacationers will spend as much as $700/night for a glamping experience. Ventana Big Sur on the California coast charges $525/night for a fancy tent. There are just several steps to getting set up to rent out space on your property.
1. Zoning. You’ll need to contact your city to see if renting out space on your property on a short-term basis (30 days or less) is allowed. Some cities only allow short-term rentals in areas zoned for a hospitality use. Moreover, many cities require owners to pay hotel taxes on their short-term rental income. Booking sites such as Airbnb can automatically add the tax onto bookings to make the process more seamless. If you plan to build numerous cabins or guest rooms on your property, then you might need a conditional use permit from the city, in which case you may need to hire an architect to assist you.
2. Accommodations. Building a permanent structure requires a permit which is a lengthy and expensive process. Permitting in a typical California town can take about 6 months and can add about $25k to the construction cost. Zen Dens, luxury off-grid guest rooms are the perfect solution. They can be fully self-contained and easily moved. They can be financed for under $400/month with an RV loan, and they can be delivered within 3 months of ordering, and do not require a building permit. Learn more at www.zendentinyom.com.
3. Booking: Airbnb, VRBO, and the newer HipCamp, are some of the websites that make booking easy and simple, offering insurance in case anything is damaged, a means to make a claim on a security deposit, and seamless payments through Paypal. It can also help to have your own website and advertise with Google adwords.
If you don’t own property, you can consider renting and living on a property that has extra space. Just make sure your lease allows you to rent out space. Or perhaps the rental income will make it financially feasible for you to purchase. As more and more people are looking to have unique experiences and unplug from the stress of everyday life, this might just be the perfect time to get into the business.
