People are renting out their spare bedrooms to help with rising costs

'The income we got from Airbnb gave us breathing space to think about what we were going to do next.'

When Sophie Walters and her husband Carl were both made redundant at the same time almost six years ago, they started to panic.

Although they were offered decent lump sums on their redundancies, and had paid off their mortgage a couple of years previously, they were worried about how they would cope in the longer term.

‘We were really worried about how we would manage income-wise and we had two school-age children to support,’ Sophie, 58, told Metro.co.uk.

It was then they decided to turn to Airbnb to rent out their spare bedroom and make back some of the shortfall.

The couple listed the double room in Caversham, near Reading, on the short-rentals website – and have never looked back.

‘The income we got from Airbnb gave us breathing space to think about what we were going to do next… the extra income helped bridge the gap until we were able to earn salaries again,’ she added.

They both decided to retrain as teachers, but unfortunately the gap became longer than expected when their daughter became seriously ill.

‘For almost a year, our Airbnb income was the only money we had coming in,’ Sophie said. ‘It meant we could focus on supporting our daughter, rather than worrying about what we could do to keep going.’

Airbnb said a recent survey showed more people in the UK are turning to the platform through the cost of living crisis, with more than a third (36%) saying hosting helps them make ends meet.

Four in 10 (39%) of hosts say the extra money helps them afford the rising cost of living, and 40% of people surveyed say using Airbnb has helped them stay in their own home in the last year.

On top of this, people are increasingly turning to short-term rentals rather than hotels for breaks away to help them save money on holidays.

Sophie, who did a degree in hospitality management, said the family dog Peach is a the favourite part of many people’s stays at her home.

‘One guest told us that it was the highlight of his day to come home after a day of being ignored in the office, and to be greeted like a long-lost friend by a small energetic bundle of fluff,’ she said.

Anna Elston, 50, was ahead of the curve when she became an Airbnb host a decade ago after she was also made redundant.

‘As a single mum of three young children, with a mortgage and bills to pay, it was the quickest, easiest way I could think of to get the highest return,’ she explained.

‘I was a bit apprehensive to start with, but once the first few couples came through the door and their reviews were really positive, I became confident in my hosting capabilities.’

She said she soon found employment but decided to continue hosting her spare room in Christchurch, Dorset, on Airbnb because she ‘liked meeting new people and offering a service’.

Jean Cowsill, who is a relative newcomer to Airbnb, became a host for slightly different reasons.

She put her annexe in Carlyon Bay, Cornwall, called ‘The Pod’ on the website last year after the death of her mum – who she was a carer of for seven years – and the loss of her ‘best friend and soulmate’ Barry to prostate cancer within a few weeks of one another.

‘I felt dreadfully lonely and mentally and emotionally drained,’ Jean, who is in her sixties, told Metro.co.uk.

‘I decided to add a small kitchen to mum’s disabled annexe and invite people to stay.  

‘I had to spend quite a bit on the various works and items to make it self-contained, which was most of my savings as I had recently got a mortgage to pay off my brothers their inheritance.

‘Mum used to pay all the bills so I now had to pay them myself – obviously the fee I am paid for the Airbnb is hugely welcome.’

She said although she of course doesn’t interact with her guests all the time, knowing the bungalow isn’t empty helps with her feelings of loneliness.

‘I usually greet them and we have nice chats when we do meet, usually in the garden when they’re on their way back from a day out,’ she added. ‘I’ve had some lovely people staying.’

Jean called turning to Airbnb through the cost of living crisis ‘a no brainer’.

‘I am not surprised at all that more people are letting rooms or part of their homes out if they have the space,’ she said. ‘Especially if you are a bit low on cash which let’s face it, many people are these days.’

Sophie warned ‘it’s not for everyone’ but it can be ‘a fantastic way to earn some extra money when bills just keep going up’.

The rent-a-room scheme in the UK allows someone to earn up to £7,500 per year tax-free through methods such as Airbnb, but if this is exceeded a tax return must be submitted.

It is easy to become a host on the website, but Airbnb strongly recommends potential users research tax and local laws around renting out rooms, check their housing or mortgage contract and consult a financial advisor if necessary before starting.

Hosts can also block out dates the room won’t be available to allow them to have time away, or just take a break from it.

The website said the average host on Airbnb makes around £6,000 a year by renting out their space – the equivalent of at least two months’ pay for most people.

Anna said she would ‘urge anyone to give it a go’, but added people should consider how their finances would work first.

‘I guess it doesn’t make financial sense if someone’s at work all day and they have guests in the house who need the heating on at different times, but if you’re home all day yourself, it’s not going to cost much more,’ she explained.

She further told of the additional benefits alongside the extra money – she has managed to set up her own psychotherapy practice.

‘The income from Airbnb supported me whilst I established my business,’ Anna said. ‘It enabled me to take the leap from full time employment to self-employment, for which I’m very grateful.’

She added meeting people from different cultures has been ‘wonderful’ for her children to help them learn.

‘We have had guests from all over the world, including one “Romeo” from Australia who loved taking our miniature dachshund for a walk to the beach to attract attention from female dog walkers,’ she said.

Amanda Cupples, the general manager for the UK and Northern Europe at Airbnb, told Metro.co.uk: ‘Airbnb allows everyday families to use their homes – often their greatest expense – to boost their income.

‘The typical host shares their home for just three nights a month, and four in 10 say the additional income helps them afford their home and rising living costs. Hosts also provide affordable travel options and half of guests say booking on Airbnb saved them money.’

Get in touch with our news team by emailing us at webnews@metro.co.uk.

For more stories like this, check our news page.