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.
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