For guest peace of mind, Airbnb provides a secure payment platform and payments to hosts are withheld until 24 hours after guest arrival. Airbnb has a 24-hour guest hotline in case any issues are encountered during the rental period.
The host sets the price for the lodging and Airbnb charges the following fees:
- Host: 3 percent payment transaction fee
- Guest: 6-12 percent booking fee
Hosts may require a security deposit and may also charge a cleaning fee.
- Property in a desirable area
- To attract the business traveler
- To attract the destination traveler
- Better yet how about both – like me!
- Favorable local laws for zoning and occupancy
- This strategy works great in higher priced areas where the cost basis is high relative to traditional rents. This also works great in an area where hotel/motel rates are high.
- Preferably a year round destination area.
- Reasonably close to Air transportaion
- Manager (for larger operations)
- Book keeper
- House cleaning
- Handy Man
- Independent contractors:
- Lawn care/snow removal
- Pest control
- You will need to:
- manage your bookings and respond to communications with potential renters
- arrange to meet guests to hand out or collect keys
- make sure that the property is thoroughly cleaned and prepared for guest arrival, including fresh linens, breakfast supplies (if applicable)
- handle any property maintenance issues such as pest control and plumbing, electrical, and appliance repairs
- be available to your guests on a 24×7 basis in case any issues arise with the property
- Additional Costs: Aside from the booking fees that Airbnb charges there are additional costs associated with hosting on Airbnb, including:
- Insurance: Normal homeowner’s insurance policies do not cover the use of the premises for business purposes, which includes renting on Airbnb. In the U.S., Canada, U.K., and several other countries Airbnb provide a free Host Protection Insurance program which provides up to $1 million coverage against bodily injury or property damage. If your locale is not covered by Airbnb insurance contact an insurance agent to see about proper coverage. (For more information see How to Get Affordable Airbnb or Home-Sharing Host Insurance.)
- Business Licenses: More and more cities are requiring Airbnb hosts to hold a business license.
- Cleaning and Repair: To keep your Airbnb host rating at a high level you need to maintain your rental property in top shape at all times, which means thorough cleaning between guest visits and regular maintenance. If you need to subcontract cleaning and maintenance tasks the costs will add to your expenses.
A portion of all our proceeds goes towards the support of the Healing House Foundation. The Healing House Foundation is a 501(c) (3) non-profit public charitable organization. Our main goal is to provide housing for those in need. We seek to assist the homeless, single moms and abused women, wounded and disabled veterans, and those recovering from alcohol and drug addiction.
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