The corporation which was established in 2008 is now hosting services in 65,000 cities and operates about 500,000 stays per night. One of its major highlights is that they don’t just provide your usual accommodations, but also introduce different types of places, such as nature lodges, tree houses, and ryokans (traditional Japanese inns). All these authentic experiences have attracted more than 150 million users to find their destination residence through Airbnb.
The distinctness comes in that Airbnb provides full houses at the same price or less of a single hotel room. In Europe, Airbnb is anywhere from 8% to 17% cheaper than a regional hotel’s average daily rate, while in the top 25 markets in the U.S., Airbnb is 6% to 17% cheaper than hotels in those markets. And that’s how the company is taking away a big chunk of revenue from the hotel industry.
Generally, the global compound growth rate since 2009 is at 153%, which is a significant rise. It shows the increasing preference of people wanting to experience unconventional and unique trips.
This article will take a closer look at how Airbnb started, what its future expectations are and how you can get the utmost benefits from it, whether you are a host or a guest.
2 Convincing Reasons for utilizing Online Property Management Services when using Airbnb
Airbnb offers benefits for everyone. It simply acts as a bridge between different cultures, residents, and hosts from around the world. The traveler gets to meet new people, make new experiences, while the hosts make some extra money in return. In this win-win relation we can divide the benefits into two directions:
The host just provides his unit with all its features and additions. He determines the price himself, with a little recommendation from Airbnb. It’s a straightforward way to guarantee a regular income with little effort. The website charges you a commission after renting and you should pay the taxes according to the published list of regulations of the website and the city rental laws. Considering the safety, Airbnb founder Joe Gebbia said that “the app is designed for trust” and that they provide a variety of safety mechanisms including US$ 1,000,000 that covers property damage by guests due to vandalism or theft.
As a guest, your main goal is to find the best accommodation place that matches your needs at the lowest price. That’s exactly what Airbnb offers. You will find:
- a variety in pricing (which allows you to choose the most affordable one),
- a variety in areas (whether you need a simple room a castle),
- a variety of possible number of guests per unit,
- a variety of building types (you can choose from staying in a boat, treehouse, yurts or even earth houses
Set yourself free to live out new experiences that
How Airbnb Started and Developed to be One of the most Prevalent Residential Property Management Software around the World
Airbnb is a private global company headquartered in San Francisco that operates hospitality services in hosts houses through online websites and apps. The key role of the company is working as a broker, it doesn’t own anything from the real estate listed online, instead, the corporation gave homeowners the opportunity to become real entrepreneurs. Even if you don’t have a separate real estate you can just rent out one of your rooms in the high season.
Airbnb’s growth trip is inspiring, it basically started as a website for renting out a single air mattress in San Francisco and now the company is valued at more than $24 billion dollars. Regarding the future growth of Airbnb Bloomberg have made a survey of 1,400 US hotel guests, and the results showed that Airbnb bookings will increase from around 79 million “room nights” this year to roughly half a billion annually in the next five years and a full billion per year by 2025.
9 Tips to Increase your Rental Airbnb Rates using Easy Property Management Software
If you consider your house or room as an investment, then you need to know how to make it good enough to be competitive on Airbnb. Embrace the inner entrepreneur inside you using the following tips by Airbnb themselves:
- Equip your place with the fundamental needs first and then upgrade it with luxury additions.
- Evaluate your property and set the optimum night price that matches with its condition.
- List your property so it always appears high in Airbnb search results.
- Give good attention to customer reviews, that’s how you will attract new guests.
- Manage your taxes and insurance with a thought-out real estate facility management solution, so you eliminate any errors
- Manage your maintenance schedule by using property maintenance and management software and avoid unanticipated costs for later.
- Put holidays into consideration. Better offers in peak holiday seasons are a strong factor of attraction
- Evolve the local experience of the place by offering authentic activities.
The chances suddenly seem unlimited. Forbes Magazine showed an analysis made by LearnAirbnb that at least 75 U.S. hosts on the online rental property service are grossing more than $1 million a year. That’s $2,739 a day or $19, 230 a week. The numbers are prodigious yet motivational and inspiring.
Finally, if you are looking forward to seizing the opportunity of investment in this sector, by constructing your own property, don’t forget that the chances are better than before. Especially with the cloud-based construction software PlanRadar, managing construction projects becomes easier and covers all phases of construction. It’s the perfect tool to depend on for defect tracking, team communication, and document management. Don’t miss your chance of the 30 day free of charge trial now and for any further information or inquiries just contact us directly