North Texas homeowners eye Airbnb profits as World Cup demand surges

If you've ever thought about turning your home into an Airbnb, this summer might be the time.

With the FIFA World Cup coming to North Texas, realtor Bobby Franklin says homeowners could be sitting on a big money-making opportunity.

"Deloitte actually came out with a study, and they proposed that the average DFW Airbnb will earn $4,400 throughout the tournament," Franklin said.

On top of that, Airbnb is offering a one-time $750 bonus to first-time hosts who sign up and complete their first rental by July 31.

Franklin runs a social media account called "North Texas Market Insider" and says that after sharing this information online, he received a lot of responses from homeowners.

"There's a lot of interest on being able to capitalize on any event like this," he said.

Rules and restrictions for new hosts

While all of this may sound enticing, Franklin says, before you start taking listing photos and promoting your property, you need to make sure you understand the rules first.

"You have to rent the whole home," he said. "This won't count if you're just renting out your bedroom."

You'll also need to check Airbnb's website to make sure your ZIP code qualifies for the bonus.

City permits and tax requirements

On top of that, many cities require you to register your property before you ever welcome a guest.

"Get the permits and do all of the things... and then of course you have to make sure that you're set up with your taxes as well to be able to pay both the city tax on your short-term rental and your federal taxes later," Franklin said.

Local bans and designated districts

Franklin also notes some cities ban Airbnbs altogether, or in certain areas.

"For example, Arlington has their own short-term rental district, and you can't do any short-term rentals outside of that district," he said.