November 11, 2017 3:28 pm
Updated: November 11, 2017 5:59 pm

Airbnb landlord makes over $20 million per year renting 881 London properties

The highest-earning Airbnb landlord makes the equivalent of C$20 million per year.

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While some people use Airbnb to make a little extra money on the side, some landlords are using the platform to make millions of dollars.

According to data from AirDNA analysts, the highest-earning Airbnb landlord makes £11.9 million (over C$20 million) annually from renting out 881 London properties. The next highest Airbnb earner made approximately C$19 million from renting out 504 Bali properties during the same time period.

“Airbnb is no longer a community just for individuals renting out their space or properties on their own. These numbers don’t show a multimillionaire sitting on a gold mine. These are businesses that have emerged in this new economy, with hundreds of employees, managing other people’s second homes,” AirDNA CEO Scott Shatford told the Telegraph.

The report goes on to reveal that some unit owners in cities like Cape Town, Paris and Barcelona also made over a million pounds annually by renting out dozens of rooms, apartments and houses.

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In general, figures released to the Telegraph reveal that Airbnb landlord earnings are highest in Bali, where the average revenue per user is over $500,000. Average earnings per user in Tokyo are about $46,000, and about $27,000 in London.

While a spokesperson told the Telegraph that while the typical Airbnb user is still an individual person sharing their home for some extra income, they acknowledged that the use of the platform has expanded.

AirDNA stated that while 65 per cent of Airbnb hosts around the world are sharing their primary residences, 35 per cent are management companies. In addition, AirDNA adds that the gap between these numbers is shrinking.

READ MORE: Toronto to put the squeeze on Airbnb, short-term rental market

Over the past few years, several hotel industry groups and government officials have accused Airbnb of facilitating the operation of illegal hotels, and many cities have gone on to regulate the platform to prevent this from happening.

READ MORE: City of Vancouver holds off on Airbnb crackdown

This past June, the City of Toronto put forward new legislation requiring Airbnb hosts to live at the property they’re renting. Several cities in B.C., including Vancouver and Kelowna, are currently in the midst of similar debates at the municipal level.

© 2017 Global News, a division of Corus Entertainment Inc.

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