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Airbnb is the world’s largest vacation rental platform. The platform connects people who are willing to rent out their property for short term stays, with people who are looking for short term vacation rentals. If you have a spare room in your property that you are not actively using, you can consider renting it out for short term stays to holiday-goers in exchange for some extra income.
- Over 150 million users worldwide – it is highly likely that you will be able to rent out your property. In 2020, over 193 bookings were made.
- High earnings potential – earn $924 per month on average just by renting out a single room. If you have more than one room to rent, you can earn more.
- Rent out your property whenever you want – you can limit long term rentals (more than 28 days) to ensure you can use your property whenever you want.
- Quick turnaround time for payouts – receive payment from Airbnb around 24 hours after a guest checks out from your property if there are no issues.
- Potential home damage – although Airbnb offers $1 million in insurance, it is hard to claim reimbursements for minor damages to your property.
- Income is erratic – during periods of low demand, you may only have 1 to 2 rentals per month which makes it hard to earn a guaranteed income.
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Compare to Other Sites to Rent Stuff
Rent garage, driveway, parking lot, basement, bedroom, shed or carport
No listing fees + guaranteed payment monthly even if a renter doesn’t pay
Free coverage for everyone— $1,000,000 for host and $25,000 for renters
Earn money by renting out your gear with relatively low rental fees – 10%
Average monthly pay – $95 for bike, $145 for camera, $150 for guitar
Personal liability guarantee up to $100,000 and $125,000 property coverage
How Does Airbnb Work?
Founded in 2008 by Brain Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb is the world’s largest vacation rental marketplace that connects hosts with people who are looking for accommodation in their travel area. The company has its main headquarters in San Francisco.
Airbnb allows you to;
- Sign up for free on its platform.
- Maximize your earnings on the platform.
- Reach its wide audience after listing your property on the site.
- Publish your listing for free on the site.
- Have full control of your property and rates.
While the company name Airbnb actually stands for ‘Air Bed and Breakfast’, you, as a host, aren’t required to provide breakfast to your guests. However, it might be highly appreciated if you do so, or you can charge your guests an extra fee for providing breakfast.
How Much You Can Earn With Airbnb?
While you are free to price your property as you like, you should consider the rental price range in your location.
Who Is Airbnb Best for?
Airbnb is best for property owners who want to generate extra income by renting out spaces to travelers. It is also best for travelers looking for affordable places to rent or stay during their travels.
What Can You Rent With Airbnb?
The types of properties can you list on Airbnb:
- An extra bedroom or a living room
- And even moving properties, such as RVs, camping vans, and motorhomes.
Airbnb Benefits: What Does Airbnb Offer?
A built-in calendar helps you manage your bookings easily. Each time a guest books your place, the selected dates in your calendar become unavailable for other travelers. This eliminates the cases of double-booking. This feature also allows you to keep an eye on your calendar and check your availability.
And if for any reason you can’t or don’t want to host anyone for a certain period, you can lock the calendar so it looks unavailable for travelers.
In order to keep your privacy or help you resolve issues with guests, Airbnb requires you to keep all your communication with your guest on their platform. But this requirement changes when the guest books your place. From there, you’re free to communicate outside the Airbnb messenger.
Airbnb Customer Support
Whether you have issues with the platform or your guest, you can contact the Airbnb customer support team anytime via phone, email, or live chat. The support team will help you resolve any case.
Airbnb Host Guarantee
Accidents happen. If guests damage your place or belongings during their stay and refuse to reimburse you, Airbnb host guarantee may protect you with up to $1,000,000 in property damage protection.
Just make sure you report the case to Airbnb customer support, providing all the details about the damage. Also, make sure you document the damage with a photo or a video.
Airbnb Cancelation Policy
If you cancel a confirmed reservation, you’ll be penalized, and the fee will be deducted from your first payout after the cancellation. The penalty depends on how long after the reservation and how soon before check-in, you cancelled the booking.
You’ll be charged:
- $50 – if more than 7 days are left before check-in
- $100 – if less than 7 days are left before check-in
Airbnb Mobile App
To further simplify your hosting experience, Airbnb provides an app for iPhone and Android devices. This app lets you manage your calendar and communicate with your potential or existing guests on the go.
And the app is available for travelers as well. So they can easily book your place and communicate with you from anywhere they might be.
Airbnb Experiences allow you to share your hobbies, skills or expertise with travelers worldwide. Whether it’s a local cuisine that you can teach or take travelers to discover hidden gems in your city, you can list them as experiences.
Experiences are a great way to maximize your Airbnb earnings, as whatever activity you share with travelers, you might charge them an additional fee for the services you offer.
Because of the current pandemic situation, Airbnb added an option to host experiences online. This enables you to earn money even due to travel restrictions.
Airbnb Fees: How Much Does It Cost to Use Airbnb?
Listing your place on Airbnb is free, and there are no monthly maintenance fees either. Although, you’ll be charged a service fee of 3% when your place gets booked via Airbnb platform.
Airbnb requires you to;
- Be responsive and reply to trip requests or inquiries within 24 hours or as soon as possible.
- Promptly accept trip requests from wherever you are available.
- Set your payment on your account.
- Maintain a high rating on the platform to attract more guests.
- Avoid cancellation of guests because it causes unnecessary inconveniences.
Airbnb Payout Terms and Options
Airbnb releases your payment within 24 hours after guests check-in. Additionally, the payment method you choose determines how long your funds will take to reflect on your account. Airbnb will send you your earnings through the following payment methods.
With PayPal, you will receive your earnings within 24 hours after initiating the withdrawal process.
AliPay is only available in mainland China. Once your earnings are released, it will reflect immediately on your account.
If you opt for this payment method, you will receive your earnings within 1 business day. However, sometimes it takes longer depending on your country.
Payoneer Prepaid Debit Card
You will receive your earnings within 1 to 3 hours after initiating the withdrawal process.
Bank Transfer/ACH/Direct deposit
With this payment method, your finds might take up to 7 working days to reflect on your account.
Airbnb Reviews: Is Airbnb Legit?
Most hosts liked the platform because it screens travelers before allowing them to book properties, thereby reducing scammers. Other hosts praised the platforms because it allowed them to choose their booking rates. At the same time, other hosts indicated that the platform is user-friendly and easy to navigate.
Unfortunately, some hosts had problems with some stubborn guests. Others also mentioned that earnings might fluctuate depending on the seasons. Overall, Airbnb is legit and sage.
|Google Play Store||4.5|
What Are the Airbnb Pros & Cons?
- User-friendly and easy-to-use website and mobile app.
- Low booking fee – 3% from each booking.
- No listing or monthly maintenance fees.
- 30+ million users in the US alone.
- Helpful customer support.
- You have to clean your place after each customer leaves
- Some guests may cause problems
- Your earnings may fluctuate depending on seasonal demand
How Good Is Airbnb Support?
Airbnb has frequently asked question sections with answered questions, blogs, and articles. It also has dedicated customer support available 24/7 via live chat, email, or phone.
Airbnb Review Verdict: Is Airbnb Worth It?
Airbnb is a reliable and recommended vacation rental marketplace where you can list your property and earn. You can make up to $924 per month renting out your property to travelers on Airbnb.
Additionally, you will be charged 3% when your property gets booked. You also are charged a cancellation fee of $50 to $100 when you cancel guest bookings. While the platform does not have a withdrawal limit, it offers you different payment methods like AliPay, PayPal, direct transfer, etc.
With that said, Airbnb is a legitimate vocation marketplace worth trying.
How to Sign Up With Airbnb?
Step 1 – Create Your Account
Naturally, the first thing you need to do is create an account. You’ll be required to provide basic information about yourself – your name, email address, and phone number.
Step 2 – Create Your Listing
Once your Airbnb account is set up, you’ll be prompted to create your first listing. At this step, you’ll be required to provide every detail about your property, including:
- Type of property offered – is it a private room, an apartment, a house, a villa, etc.?
- How many persons can you host?
- What facilities are included in your property?
- Where’s your place located – you should also list attractions nearby?
- A brief description about your place – this one is just like a sales copy, describing your place and surroundings.
- High-quality photos of your place – make sure you showcase your property in the best way from different angles.
Step 3 – Publish Your Listing
Once you’ve provided all the information about your place and created your listing, it’s time to hit that Publish button. After you publish your listing, the Airbnb team will review it before making it public. The review process usually takes up to 24 hours.
Sites Like Airbnb
|Earning potential||Up to $924||Up to $1000||$50 to $600||Up to $1500|
|Service fee||20%||10%||4.9%||10 to 25%|
|Best for||Renting properties||Renting items online||Storage spaces||Renting properties|
Airbnb vs. Booking.com
- Provides transparent, innovative, and supportive partnership; for instance, by providing the tools required for 24/7 support and visibility.
- Turns its global audience into your guests, for example, through professional online marketing and continuous innovation
- Provides attractive partnership rates which can increase your properties visibility
- Attracts more guests to your properties by offering loyalty programs that provide travel rewards
Airbnb vs. Neighbor
Neighbor and Airbnb are legitimate online platforms for renting things online. Like Airbnb, Neighbor is also free to sign up and use. Airbnb and Neighbor have liability coverage fees of $1 million. In addition, Airbnb’s service fee is 20% compared to Neighbor, whose service is 4.9%
While Airbnb’s potential monthly earnings is up to $924, Neighbor’s potential monthly earnings is $50 to $60. With Neighbor, you are assured of getting paid per month even if your rental doesn’t pay compared to Airbnb, which only pays you commissions if guests book and pay for your property.
Airbnb vs. FriendWithA
FriendWithA’s liability fee is $100,000 compared to Airbnb, whose liability fee is $1 million. Like Airbnb, FriendWithA also has a user-friendly website that is easy to navigate. As for service fees, FriendWithA charges a service fee of 10%, while Airbnb’s service fee is 20%.
In terms of potential earnings. Airbnb’s monthly potential earnings is up to $924 compared to FriendWithA’s potential earnings of up to $1000. Airbnb and FriendWithA are free to sign up and use.
Airbnb vs. VRBO
VRBO and Airbnb are legitimate vocation marketplaces that allow you to rent out your property and earn. Like Airbnb, VRBO is free to sign and use. While is a great option for people looking for shorter trips, VRBO is more suited for longer stays.
As for potential earnings, Airbnb’s potential earnings is up to $924 compared to VRBO’s potential earnings of up to $500 per month. Both sites provide easy and quick access to the websites.
Airbnb vs Homestay
With Homestay, guests who book their stays with the host family compared to Airbnb, which allows you to rent out private spaces, including your entire house. As for earning potential, Airbnb earning potential is up to $924, while Homestay’s potential earnings is up to $700 per month.
As for service fees, Airbnb’s service fee is %20 compared to Homestay, which charges a service fee of 5%. Both platforms have user-friendly websites that is easy to navigate.
What Is Airbnb?
Is being an Airbnb Host worth it?
Airbnb is worth it because it allows you to list your property on its platform and earn.
Where is Airbnb available?
Airbnb is available worldwide.
Does Airbnb charge cancellation fees?
You will be charged a cancellation fee of $50 to $100, depending on when the cancellation is effected.
How long does it take for Airbnb to pay hosts?
You will be paid within 24 hours after guests check-in, but receiving your finds will depend on the payment method.
Is my information safe with Airbnb?