Just incase you’ve been hiding underneath your sofa for the past 6 years, Airbnb is the online marketplace connecting people looking for accommodation (guests) with people who have a spare room/apartment (host). Airbnb currently boasts over 2 million listings in 192 countries around the world. People are increasingly realising the earnings potential of Airbnb whether that’s utilising your spare room or renting out your entire house while you’re on your holidays.
One of the most important hurdles which every host will experience before listing their property is the concern that your beautiful home will be trashed by your guests. There have been some widely documented stories recently whereby Airbnb guests hosted drug and sex fuelled house parties in the rented property leading to some questions being raised over the security of Airbnb. Airbnb has since rolled out its new host guarantee which is a free insurance offered to every host in an effort to allay fears over property damage. “Though property damage is rare, we understand you may need protection. The Host Guarantee will reimburse eligible hosts for damages up to $1,000,000.” This can give you some peace of mind although it must be pointed out that they do not cover you against all damage or theft so you should ensure you read the T’s & C’s carefully on their website. They will not cover any gold bullion, cash, jewellery or artworks so we suggest ensuring anything of significant value is locked away outside of the house ideally. They also will not cover you against wear and tear – so things like a smashed glass, scuff on the walls, a stain on the chopping board etc – however you can choose to take a holding deposit from the guests, which you may decide to retain if you can prove that some minor damage was done.
While you can never be 100% certain that your property will not be misused or damaged there are certain steps you can and should take in order to cut the risk of this happening. We always recommend that you do thorough background checks on your guests. This should include ensuring they are verified – which means they will have to upload a government issued ID, checking previous reviews, questioning them on their trip – what is the purpose of the visit, and finally you can even check Facebook/Twitter/LinkedIn to get an idea of what they are like. While this may seem over the top it can sometimes be necessary if they have no reviews but have made a long-term booking – you can never be too thorough. Increasingly hosts are looking to Airbnb Management companies like AirbnbEazy to take over the hassle associated with running an Airbnb hosting account and they will conduct the guest screening for you.
Overall Airbnb is an extremely safe way to rent out your home so while there is always the chance that accidents may happen as long as you are careful with who you rent it to there is no reason that you should have any real problems. By and large the Airbnb community is a very honest and maintaining trust is a major part of what has made Airbnb so successful. If you are interested in getting us to manage your property including screening and vetting your guests just get in touch with us here.
T: 0203 488 1038
Eazy Management LTD
160 City Road