It’s all about the side hustle these days. People are no longer content with their 9-5 existence and are looking to branch out into other areas that ignite their passions. You might think that side hustles can only be tech related – blogging, copy writing, website design etc. but you’d be wrong. You can turn any of your passions into an emotionally and financially rewarding side business.
If you’re not sure what path to take, how about turning your home into a great B&B – you’ll get to meet new people and showcase your wonderful area to those from near and far. So, if you:
- You love hosting guests in your home.
- You’ve got at least one spare room in your house.
- You’re looking to earn some extra money.
Then it’s worth considering just how viable it might be for you to open your home up to paying guests and offering “bed and breakfast” accommodation.
Curious to find out more about how this might work? Then you’re in luck! Let’s dig down into the specifics of life as a B&B owner, and answer the most commonly-asked questions of people considering starting their own venture.
Is it legal to turn your house into a B&B?
Yes, though you will want to check with your local authority in regards to compliance with building codes. You may need to go through certification, and install fire extinguishers and other related safety features. There’s an incredibly helpful list of rules and regulations you will need to abide by here, so make sure you understand the full extent of your obligations before you open your home for business.
Do I have to pay tax on any income I make from offering my home as a B&B?
Probably, though you will want to verify this with your accountant or by calling your local tax office. However, in general, the answer is yes; You are opening your home as a business, not accepting a lodger. As a result, income from a B&B is classed as business income, and is therefore taxable.
How do I know if my home is suitable for B&B guests?
Here are a few pointers that may suggest your home has the potential to be a popular B&B destination:
- You are located close to an area that is popular with tourists.
- You are located close to a business district or an area with a number of conference centres.
- The room (or rooms) you have to offer are regularly cleaned and pleasantly decorated.
- You can offer on-site parking to your guests.
- You are willing to be flexible and accept late bookings, or even walk-up bookings where no prior reservation is made.
Do I need to renovate my home to turn it into a B&B?
Not necessarily, but you will want to make a few changes due to the increased wear and tear your home will experience when you’re accommodating B&B guests. Opt for heavy, resilient furniture rather than flimsy flatpack; make a switch to specific hotel carpet which is designed to be more resistant to wear; and consider investing in tableware that is shatter-proof.
Do I have to provide breakfast to my guests?
Some would say that the answer to this question is “yes”; after all, the term is “bed and breakfast”. However, if you don’t want to offer breakfast, there’s no reason you have to— just ensure this is mentioned in the advertising literature you compile for the accommodation. Not everyone who stays at a B&B wants breakfast, after all; some travellers just want a comfortable place to stay for the night before moving on to their next destination in the morning.
Hopefully the above has provided some insight into the realities of turning your home into a B&B. Do you think you might be tempted to give it a go? Let us know what your perfect side hustle is in the comments.
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