Benefits of Marketing Your Rental on Airbnb

Unless you have been living without a cell phone or internet for the last 10 years, you probably have heard of the app or website called Airbnb. Traditionally used for property owners to list their vacation homes for out-of-towners to relax and rewind in the comfort of an entire home that has a personal touch rather than the same old, same old environment of a hotel room.

In today’s world, you can also use Airbnb to market your units for longer termed stays. This is convenient for many people who are in town for work-related reasons. Having an entire home, guest house, or extra downstairs/upstairs apartment space, can mean extra money in your pocket as a property owner. There is always someone who would need a property for the length of time which makes staying at a hotel just too expensive and inconvenient without amenities such as a full kitchen and privacy.

There are benefits and disadvantages to marketing on Airbnb, which we will discuss below. It’s important for you to weigh out what would be the best option for your unit, financially, and just in general what makes more sense for you and your property.

Advantages

There are many advantages to marketing on Airbnb, so let’s dive in! Airbnb has become very popular over the last few years. Vacationers that are looking for a more authentic experience while they enjoy the new location, tend to opt for Airbnb’s. This is largely because these properties are owned and operated by the locals of that area. The décor and the atmosphere in a lot of these spaces really immerse you into the culture of the area you are in.

Many Airbnb’s offer perks and amenities to really help their units stand out. Whether it is snacks or games, the hosts really do make it a priority to show great hospitality to their guests. Some hosts will even prepare a binder with local attractions and the best recommendations for food, shopping, and recreation in the area.

 

Now, even if you are not in a tourist area, you can still market your property on Airbnb! Every area has a college where students can opt for a monthly Airbnb, rather than securing into a full-year lease. This leaves them with the flexibility to able to move back home, with much less notice, than a traditional lease. Other great candidates would be traveling nurses, attorneys who have cases that they are working on, and many other jobs that require you to travel to another area for a month or two at a time. This option is likely more affordable than staying at a hotel and more comfortable, as the guest will have more than just a bed and a bathroom space to settle into.

Disadvantages

Just as with most things in life, there are some disadvantages that can come from using Airbnb to market your unit, as well.

The first one would be the fees that are associated with using their services. The good thing is that you won’t be charged unless someone rents your unit, so you don’t have to worry about sitting with an empty unit and still having to pay a commission. However, when you do rent it, you will have to pay a percentage of the rate that you are getting back. Of course, nothing is free, and there is a price to pay with almost every service. And while you can market your unit for free on Facebook marketplace or Craigslist, these sites have been proven to not be as safe or reliable as if you were to use Airbnb.

A higher turnover rate, than a traditional year lease term can also keep people away from wanting to market their units on Airbnb. Most property owners would prefer a full-year signed lease, to ensure that they won’t have to spend the extra money on marketing and flipping the unit for the next tenant, for a whole other year. However, as our world becomes faster-paced, so do the lives of everyday workers. Some people cannot be tied down to a full-year lease when they won’t even know where their job will take them in 2 months’ time. A lot of times, this is what drives them to hotels and Airbnb’s, so that they have the flexibility to leave when the duty calls for the next job.

Whether you are looking to offer your unit to travelers for days, weeks, or a month at a time, Airbnb is worth checking out. You may find that you prefer to market your listing on your own accord, but it’s great to know that there are other options for your property.