Monday 5 December 2016

Woman rents out apartment on Airbnb... and uses the €53k to travel the world

Sarah-Jane Murphy

Published 30/09/2015 | 15:56

A woman has made an astonishing €53,600 on Airbnb
A woman has made an astonishing €53,600 on Airbnb

Sometimes the best ideas are the simple ones.

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A woman has made an astonishing $60,000 (€53,600) on Airbnb and used it to embark on a worldwide sightseeing tour.

Katrina (27) decided to quit her office job at a tech start-up in order to visit the countries she had always dreamed of seeing.

“I felt such a huge gap in my life between where I was and where I wanted to be.

“I felt too close to people and society telling me what I should be doing with my life, and I wanted to get away for a while and just be," she told Buzzfeed.

Read More: Airbnb to collect taxes in Paris

She shared her story under the condition that she remained anonymous, and asked to be referred to by this name only.

Thanks to the income from renting her apartment Katrina was able to enjoy her travels without incurring a financial headache.

The living space measures 1,100 square feet and features two bedrooms and two bathrooms.

Read More: Airbnb calls on Irish users to lobby Coalition

Katrina rents it out by the month and charges $4,600 (€4,100) a month.

Her clients are predominantly working professionals.

Since January 2015, she’s toured approximately 21 different countries while remaining debt-free.

“On average, the condo is making over $60K (€53,600) a year, and then mortgage, maintenance, taxes, and cleaning costs around $30K (€28,600),” she said.

By our calculations that means she has plenty left over for travel and living expenses.

Last month, in Ireland, after reports people would be taxed on their Airbnb earnings,  the Irish Revenue Commissioners stated they will not seek to bring prosecutions against people who have not paid tax on earnings.

A senior Revenue official also told the Irish Independent it did not expect to uncover massive cases of tax evasion from its investigation of users of the peer-to-peer business.

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