Make Money With Airbnb Through Philly’s ‘Papal Weekend’

by Jean Donohue
With the “Papal weekend” approaching in September, Philadelphia homeowners and tenants are becoming acquainted with a way to make quick money from what is usually one of their greatest expenses.
Many Philly residents will be leaving the city during the Pope’s visit in September and leaving their homes to renters who turned to Airbnb.com

JOE GEBBIA, Nathan Blecharczyk and Brian Chesky found a goldmine in starting the rent-your-space business with Airbnb.com.

to find accommodations.
Airbnb is an international online marketplace that allows homeowners and tenants to list their entire property or empty rooms for a short and sometimes long-term rental. On Jul. 1, 2015, City Council enacted new legislation to guarantee Philadelphians the right to share their homes for up to six months.
With this, Philadelphia will become the largest US city to pass specific regulations regarding home sharing.
This ordinance was proposed by City Councilman William Greenlee.
“I’m glad I could work with Airbnb and the Nutter Administration to enable people to share their homes,” he said.
In the past year, the number of annual guests staying at an Airbnb in Philadelphia has doubled from the average of previous years. This number is expected to rise with this new legislation and upcoming Philadelphia events such as the papal visit in September and the Democratic National Convention in summer 2016.
Any homeowner or leaser can become a host on Airbnb.com by listing either their entire property or a room on Airbnb’s online market. While this is free, hosts must pay a 3% service fee when they confirm a reservation. In addition, hosts are in control of pricing which can be customized for different travel seasons, availability and other requirements for guests. Owners can also invest in a POS system for better transactions (check here).
For Sep. 26-27, or what Airbnb hosts are referring to as the “Papal weekend,” over 1,000 Philadelphia homes and apartments are available for rent. For the remainder of 2015 and into 2016, the number of properties listed varies from 200 to 500 depending on the specific dates searched on the website.
The Pope’s visit will turn Philadelphia into an incubator for tourists seeking accommodations; AirBnb, for the papal weekend and beyond, gives people an opportunity to make money from their money pits.

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