EP166: This Week in the World of Airbnb
Summary
This Get Paid For Your Pad episode covers various Airbnb updates, including a premium tier for luxury rentals and a feature allowing guests to split payments. It also discusses a real-life example of a host facing issues with a 'fake tenant' in Barcelona and explores the importance of revenue management routines. Hosts should stay informed about platform changes and prioritize structured revenue management for improved profitability.
Key Insights
- •Airbnb is launching a premium tier program targeting the luxury rental market.
- •Airbnb claims its platform facilitated 130,000 jobs in the US and projects half a million by 2020, to support their lobbying efforts with municipalities.
- •The episode presents a case of a host in Barcelona facing legal and financial repercussions from a 'fake tenant' who listed their property on Airbnb.
Action Items
- ✓Hosts should review the Airbnb Extenuating Circumstances Policy to understand cancellation options in emergency situations.Effort: lowImpact: medium
Tools & Resources
- →Telegraph: The episode references a Telegraph article about a property owner in Barcelona.(telegraph.co.uk/news/2017/06/24/woman-forced-become-squatter-barcelona-home-fraudster-lists)
- →San Diego Union Tribune: The episode references a San Diego Union Tribune article discussing Airbnb's lobbying efforts.(sandiegouniontribune.com/business/tourism/sd-fi-airbnb-mayors-20170623-story.html)
- →TechCrunch: The episode mentions a TechCrunch article about Pillow Residential.(techcrunch.com/2017/06/21/pillow-residential-13-5-million)
- →Bloomberg: The episode mentions a Bloomberg article about Airbnb's premium tier.(bloomberg.com/news/articles/2017-06-21/airbnb-said-to-ready-a-premium-tier-to-compete-more-with-hotels)
- →Skift: The episode mentions a Skift article about Airbnb testing a feature to split costs.(skift.com/2017/06/14/airbnb-ramps-up-push-to-get-more-hosts-to-choose-instant-booking)
Common Mistakes
- ⚠A host may face severe penalties, including fines between €60,000 and €600,000, if a 'fake tenant' lists their property on Airbnb without permission.
More from Growth & Marketing
Airbnb is launching a new host bonus as travel demand surges for the upcoming World Cup. This strategic move aims to encourage more listings and capitalize on the expected influx of guests. The initiative highlights Airbnb's efforts to prepare for peak season travel and its ongoing support for hosts.
This article discusses the emergence of a new platform designed as an 'Airbnb' for hourly creative spaces. It aims to solve the difficulties creators face when finding and renting spaces. While not directly about STRs, it highlights a potential niche market that could be applicable to hosts considering offering hourly space rentals, indicating a shift towards accommodating creative industries.
Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Curated by Learn STR by GoStudioM