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Airbnb: An Overview

Airbnb is a web based marketplace that connects individuals who want to lease out their properties with people who find themselves looking for accommodations in that locale. It presently covers more than one hundred,000 cities and 220 countries worldwide. The company’s name comes from “air mattress B&B.”

For hosts, participating in Airbnb is a way to earn some income from their property, but with the risk that the visitor might do damage to it. For friends, the advantage may be comparatively inexpensive accommodations, however with the risk that the property won’t be as appealing as the listing made it seem.

The Advantages of Airbnb

Vast Selection

Airbnb hosts list many alternative kinds of properties—single rooms, a suite of rooms, apartments, moored yachts, houseboats, whole houses, even a castle—on the Airbnb website.

Free Listings

Hosts don’t need to pay to list their properties. Listings can embrace written descriptions, photographs with captions, and a consumer profile where potential friends can get to know a bit about the hosts.

Hosts Can Set Their Own Value

It’s up to each host to determine how a lot to charge per evening, per week, or per month.

Customizable Searches

Guests can search the Airbnb database—not only by date and site, but by worth, type of property, amenities, and the language of the host. They can also add keywords (similar to “near the Louvre”) to further slender their search.

Additional Services

Lately Airbnb has expanded its offerings to incorporate experiences and restaurants. Besides a listing of available lodging for the dates they plan to travel, individuals searching by location will see a list of experiences, akin to lessons and sightseeing, offered by native Airbnb hosts. Restaurant listings additionally include opinions from Airbnb hosts.

Protections for Company and Hosts

As a protection for company, Airbnb holds the visitor’s payment for 24 hours after check-in before releasing the funds to the host.

For hosts, Airbnb’s Host Guarantee program “provides protection for up to $1,000,000 in damages to covered property within the rare event of visitor damage, in eligible countries.”

The Disadvantages of Airbnb

What You See Might Not Be What You Get

Booking lodging with Airbnb shouldn’t be like booking a room with a serious hotel chain, the place you’ve gotten a reasonable assurance that the property will be as advertised. Individual hosts create their own listings, and a few may be more honest than others. Nevertheless, previous friends often put up comments about their experiences, which can provide a more objective view.

Potential Damage

Probably the biggest risk for hosts is that their property will be damaged. While most stays go without incident, there are tales of complete houses being trashed by dozens of partygoers when the Airbnb hosts thought they had been renting to a quiet family. Airbnb’s Host Assure program, described above, provides some assurance, however it could not cover everything, equivalent to cash, uncommon artworkwork, jewelry, and pets. Hosts whose properties are damaged can also expertise considerable inconvenience.

Added Fees

Airbnb imposes a number of additional charges (as, in fact, do hotels and different lodging providers). Friends pay a guest service charge of 0% to 20% on top of the reservation charge, to cover Airbnb’s buyer support and different services. Prices display in the currency the person selects, provided Airbnb supports it. Banks or credit card issuers may add fees if applicable.

And while listings are free, Airbnb expenses hosts a service payment of a minimum of three% for every reservation, to cover the cost of processing the transaction.

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