Airbnb and Book have become a major tool to book a hotel, hostel, guest house or apartment all around the world. Whatever destination may pop up in your mind, it can be found on both platforms.
Of course, they are not all the same. There are some differences. Booking offers hotels, hostels, apartments but also rent-a-car and flight tickets. To put it like that, Booking is for families, personal, party holiday and business trips with a package of services.
Airbnb, on the other hand, offers apartments/houses, which, in most cases, are owned by a private person. They offer their homes for rent for a short period of time. Since this type of accommodation is more preferred for a family stay, they may not be yet so popular for business trips.
Another difference, and a major one I would say, is when it comes to the fees. Booking charges only the host whereas Airbnb has fees for both hosts and guests.
For you, as a host, this doesn`t make much of a difference so you can advertise your apartment not only on Airbnb, but also on Booking.
Before you make the final decision on one of the platforms, there are a few pre-steps you need to follow. Here they are!
What we mean by investment is whether you will buy a new place especially for this purpose or you will renovate an existing one.
The short answer – it is up to you. What we can see on the market, however, is that the first option is a good one. Investment in real estate is always a good idea, especially in big cities. Supply and demand in the field of holiday rentals are high so your investment will be well-returned.
First of all, both platforms have their own rules which you must get to know in detail. Then, go into the legal procedures in your own country. It is sure, that the tax authorities, for one, have legislation in this regard.
You can always consult one of the many agencies that work with Airbnb and Booking. They can help you decide when, where and how to put your real estate on the holiday market.
3.One-man-show or agency
It is a good idea to decide whether you will deal with the hosting by yourself or you will use an agency. Let`s help you a bit here.
The advantages of an agency are:
- They know what to do and how to do it.
- Your part of the deal is to be involved as much as you want. Our advice is to check the agency from time to time, but not too often. That`s why you hired them after all.
- You have enough time for another business or job.
- Agencies offer package deals such as ad creation, communication, photos, and overall maintenance, cleaning, etc.
Disadvantages of the agency:
- You don`t have full control over your property.
4.Furniture and equipment
Remember one thing – this apartment will be rented by different people, some of them with kids, others – ready for partying. It is a good idea to have insurance despite the ones offered by the platforms.
Of course, depending on the target tourist flow you would like to attract, furnish the place accordingly.
5.Rules and requirements
It would be a nice idea to come up with rules and requirements for your guests. Otherwise, you may have some not so pleasant surprises. This doesn`t guarantee you problem-free stays but will help a lot.
Whatever you decide and wherever your apartment will be registered, do your homework. Make a thorough research, calculate expenses and profits, consult. Take a look at what both platforms offer and create your own, unique idea. Good luck and we hope to visit you soon!