Research the market value for properties in your area of similar quality to find out what typical monthly rent is. If you normally charge $300 a night, that would become $9,000/month without adjustment. It’s easier to stand out in the long-term Airbnb industry.ĭecreased nightly rate: Monthly stays will require hosts to price their properties at a lower nightly rate than if they were short-term stays. ![]() With long-term rentals, guests are looking for the day-to-day essentials like a washer/dryer or dishwasher. You may need a hot tub or pool to persuade a guest to book. More eyes on your Airbnb: Airbnb launched a “Monthly Stay” category which means your property will show up in more searches.Īmenity differences: The short-term rental game is extremely competitive. With long-term stays, there is less day-to-day operational work for your property. Less operational work: With short-term rentals you are frequently bringing in your cleaning crew, setting up welcome baskets, getting guests checked in, marketing your property, etc. ![]() A host is entitled to a full refund of the first month’s cost for any cancellation within 30 days or less. Your income is significantly more predictable than short-term rentals.Ĭancellation policy: Airbnb’s cancellation policy for long-term rentals greatly favors hosts. ![]() Pros:Ī steady and predictable income: Unlike short-term rentals, your guests are renting your property for an extended period of time. Below we will discuss the benefits and challenges of hosting long-term Airbnb rentals. ![]() cons of long-term Airbnb rentalsĬonverting your property from a short-term rental to a long-term rental is a substantial change that comes with great rewards and some new challenges.
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