Airbnb provides a service where the landlords are named as hosts and the lodgers are called guests. They make sure that the hosts have autonomous control over their house, their availability to rent out rooms, lodging fares and the way they interact with their guests. Airbnb has made host and property safety their primary objective due to which, they now cover every booking with One Million US Dollars in insurance for any damages after partnering up with the Lloyds of London. They also ensure safety by verifying the guests by providing their contact information including phone number and email address. Guests can also be required to provide recommendations from their previous hosts and verify their id before making a booking.
There are only three simple steps involved to sign up and become a host. The first step is to list your space without sign up charges. The second step is to decide how you want to host which involves deciding on prices to be charged, availability schedules and guest requirements. The third step is to welcome your guests which apply according to the criteria you have drawn up and you can ask them any relevant questions before they come to stay. There are no fees for listing your home on Airbnb.
However, a 3% commission fee is charged to the hosts on every booking that is made. To help the hosts set a reasonable price, Airbnb gives them a smart pricing option which is based on the location and type of their listings so that any variations in demand are accounted for in the price. The payment method for hosts is also very flexible as they can be paid through different mediums such as PayPal, direct deposit, etc. depending on their locations.
WHAT ARE THE TIPS FOR BECOMING A SUCCESSFUL AIRBNB
The competition amongst Airbnb is quite intense considering there are over 6million listings in more than 190 countries which indicates a steep growth curve in their reach since the company's inception.