Airbnb: most of you know what it is already but to sum up, it’s a travel website that allows either flat renters or homeowners to rent out their places to local or international people. You’ve also probably read endless blog posts around the topic of Airbnb too, but here we thought we’d sum up the most important pros and cons of using the Airbnb service.
Potentially a big money earner
One of the main reasons people use Airbnb is to host their homes in order to make extra money. It’s a quick and easy way to earn potentially a lot of money without having to do a lot of work. According to www.portico.com, the following was revealed about prices for accommodations in London using Airbnb:
“According to our research, the average two bedroom property in London achieves £106 a night (excluding the cleaning fee). This would produce a healthy average monthly income of £2,226 on a 70% occupancy rate, which is the minimum we expect to achieve at Portico Host. When we compare this to the average monthly rent for a two bedroom property in London on a long-term let (£1,777), there’s a huge £449 a month difference.”
Flexible ‘working hours’
Flexibility is another key benefit to using the Airbnb service as a host. You decide when you want to host, and how often; this is ideal as it means you can balance this job with other aspects of your life. It’s optional how long you choose to host your home through Airbnb services. Whether you choose to rent it out for a couple of days or a couple of months, the choice is totally up to you.
Stop your Airbnb services at any point and charge the price you want.
If you decide that you no longer want to be a host through Airbnb, you can stop this service as soon as your last guests have left your home. When it comes to pricing, ultimately it is up to you to decide what you choose to price it for. However, there’s a handy section on the website where, once you’ve signed up, you’re offered access to tools to set a price that factors in travel trends for similar places to yours.
Putting hotel chains out of business
It’s obvious to see that with the rise in the use of Airbnb, reservations at hotels are starting to decline rapidly. Airbnb for lots of people has become a more enjoyable, easier, and cheaper way of staying in accommodation abroad. To date, Airbnb has 150,000, 000+ guests, 3,000,000+ listings worldwide, and is operating in more than 65,000 cities and 191 countries.
Potential for a host’s property being damaged
This is a common and normal worry for anyone who opens up his or her home to guests. There is always a risk that damage can be done to a property, either by accident or intentionally. A tip for this is to be prepared to buy things for your home or place that you would not mind having to replace should it get damaged.
For guests, properties may not match their online descriptions
There’s a small chance that the property you turn up to on the day of your arrival might not look exactly how it did when it was posted online. This happens very rarely, although it is something to bear in mind. If in doubt about the place you’re staying in, and the features it has on offer, you can directly message the host to ask questions about the place in order to give you peace of mind.
Words: Lucy Oben-Pepra
Hashtags: #airbnb #airbnbuk #airbnbservices #airbnbhost #airbnbguest #hotels #experiences #travel #accommodations #travel #travelling