Money blog: What I learnt from putting my home on Airbnb

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I hadn't met this woman until 24 hours earlier, but she is staying in my home for another four days - and it's all thanks to an advert on the London Underground.'Turn your spare room into cash using Airbnb!' it promised.

He advised that instead of offering an introductory discount, as the app encouraged, the best way to drum up business was to look up the price of local listings and then undercut them. Once I had built up a few reviews I could then raise my prices.My neighbours were listed between £40-55 a night, so I hedged my bets and started at £35, with a £10 cleaning fee. Within 24 hours, I had my first booking.

 

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Money blog: Weirdos, undercutting and hand-towel regret: How to make cash on AirbnbThe Money blog brings you personal finance and consumer news, plus all the latest on the economy. Let us know your thoughts on any of the stories we're covering in the comments box below.
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