Have you ever wondered how you could generate a few extra dollars by renting out your home on a short term basis? Well the short stay home rental business is becoming more and more attractive to many people and it is booming.

More and more people are now preferring and choosing the private fully set up and self contained home to staying in a hotel or motel. It is not only the preferred choice for a holiday but also when conducting a business trip.

Of course if you are intending to stay for only a day or 2, it might be best to book a hotel. Although in some holiday hotspots, there are so many holiday homes especially set up for that purpose and you won't have any difficulty finding a home for a night or two.

Now you might wonder how and when you could go about turning your home into a lucrative little side business? Well, it is really quite simple. You leave it as it is, except you must remove all your personal belongings and store them somewhere. (Perhaps a great opportunity to begin de-cluttering your home!?)

What many of my clients do is have a lockable cupboard (here it really depends how much of a hoarder you are) or even a small room or a garage where they throw everything into just before the booking starts.

Short stays can range from the simple studio in the major city, whether it be New York, London or Sydney to the 8 bedroom house in the suburbs or even the sprawling homestead in a rural setting.

Obviously the rate you are going to charge depends totally on the quality of the property, whether it is luxuriously appointed with views, or a simple box and also the location will have an impact. Popular locations, and most major cities usually command high tariffs.

It might be comforting to know that there is a market for every price range, whether it be the upmarket to the cheapest. Although there is a market for the super expensive, the highest demand these days is for the budget type accommodation.

You might be wondering when you would move out of your home and allow a paying guest to move in. I have a client in the Blue Mountains of NSW that moves out whenever she gets a booking. For her it is also a holiday as she gets to go and visit family and friends in other parts of the country. Get the picture?