Airbnb long-term rental properties are gaining more traction with the rise of the “digital nomad”. More and more people are flocking to tried and tested sites to find longer-term rental options that will help them work comfortably away from home, Airbnb included.
What is a long-term Airbnb rental?
A reservation is considered long-term if the booking is for more than a specific amount of days, i.e. longer than 28 days or a month or for a period of between six weeks to six months.
Does Airbnb offer long-term rentals?
A long stay is defined as a hotel or apartment that is intended for a period of between six weeks to six months.
All kind of housing is available on demand (from room to house). It includes typical amenities, including a kitchen/kitchen area, daily cleaning, and 24-hour customer support (all amenities vary depending on the property). Many long stays list the rooms at Airbnb.
Why Are Long-term Rentals Popular?
Airbnb long-term rental services have been growing in popularity with customers because of the Coronavirus pandemic that has affected all areas of everyday life. Monthly and long-term rentals can help lower occupancy rates and help hosts earn incomes with less stress.
These solutions do have costs: substantial decreases in the cost to stay the same night. As hosts, you can earn extra cash from rentals. You can also rent a home with an extended stay at Airbnb. It can help you maintain a rent-based business in the quietest seasons of the summer.
Find an Airbnb with all the features you need using our search filters and the specific amenities you desire. Extended stay offers weekly and monthly discounts and follows similar payment processes and policies as other Airbnb rentals.
How can hosts start with long-term rentals?
First things first, you may be wondering how long you can possibly rent an Airbnb property. Well, that’s entirely up to the host.
So after the initial decisions, it’s a matter of encouraging the customers to stay for longer. It is the only method that increases the profitability of a property.
You can start by optimizing short-term rentals for longer stays.
Optimizing for Long-term Bookings
You need to make the necessary adjustments to your Airbnb listing in order to promote your rental to guests looking for longer stays. You can encourage people to reserve your Airbnb long-term property in three different ways:
Allow longer reservations for your rental.
Make sure your listing has been updated to allow bookings longer than 28 days by updating the trip details section in the availability.
On your listing, enable weekly and monthly discounts. Guest searches will emphasize your monthly pricing discounts, which will encourage them to make a reservation with you.
Make use of a long-term cancellation policy.
Long-term reservations that are canceled within 48 hours of the booking and at least 28 days before the booking date will get a full refund for the visitor. Any cancellations made after 48 hours will result in a refund minus the first 30 days and the service fee. If a guest cancels their reservation while they are still in residence, they are still responsible for the full cost of the remaining portion of their stay, if less than 30 days, for the 30 days that follow the cancellation date.
Create a rental agreement.
A rental agreement should be signed by your guests. Asking guests to sign a rental agreement will help you reduce the dangers involved with long-term visits. Make sure to include this condition in your house rules so that visitors won’t be taken aback after making a reservation.
Create a long-term-friendly rental property.
If you’re going to be having guests stay for an extended period of time, then you’ll have to set up the space to accommodate a longer stay. It essentially becomes a home away from home and in order to make that happen, you’ll have to provide all the amenities of a home.
So, to set up your property for long-term rentals, you will have to do the following.
Make any required renovations to your rental.
Long-term Airbnb renters favor homes with convenient features like a washing machine, a refrigerator, and a fully equipped kitchen. Create a workstation and provide strong Wi-Fi if you want to draw in business travelers.
Give additional guidelines and suggestions.
It’s crucial that visitors have a thorough instruction manual or welcome book with information on things like when the trash is picked up, the schedules of any gardeners or housekeepers, etc. Adding helpful information to your welcome book, such as local gyms to join or activities to partake in, will also enhance your visitors’ enjoyment of their stay.
How to Make Long-term Accommodation More Profitable
If you own or manage a long-term accommodation property, it’s important to have an understanding of how to make your accommodation more profitable.
Making long-term accommodation more profitable involves a number of steps, including ensuring that you choose the right rates for your market; setting your rates correctly; making the necessary marketing changes to attract more guests; and managing your finances effectively.
You should ensure that your rates are competitive with other properties in the neighborhood and that they are in line with the local market.
You should also set your rates based on your occupancy rate and other factors such as the cost of maintaining your property.
Finally, you should use other marketing techniques to attract new guests.
More Tips for Long-Term Hosting on Airbnb
Airbnb hosts can be intimidating at times. We list the 5 best Airbnb hosts we’ve ever recommended.
1. Have a local contact (if you don’t live on the property)
The last thing we recommend when hosting long-term guests is to have a local contact for assistance. This usually applies to renters traveling out of the city.
Alternatively, this might be useful if Airbnb is renting your city property. Airbnb is able to provide you with passive income by living at home. Having an Airbnb for a weekend vacation will never cause you any problems and you will need to answer countless guest comments.
For help in these situations, you should have an area contact to which the guests can get help when needed.
2. Screen prospective guests carefully
Always ensure that your guests’ profile is checked carefully before requesting an Airbnb room reservation. Nevertheless, this is especially relevant during longer stays as it helps you prevent problems. Please see how a guest is looking at their Airbnb page and check the reviews of other Airbnb guests.
Check out comments about ill-treatment in the home and other disrespectful behavior. Airbnb reviews from hosts usually include a list of reasons to exclude an individual from their site.
3. Learn how payments work for long-term stays
When guests visit you on the same day for an overnight stay, it can usually be paid upfront for all the costs. The arrangement is more like an apartment rental, but the guest must pay monthly. In any long-term booking, your guests are liable to pay all of their stay costs at the booking time.
The money is paid 24 hours before guests leave the hotel. After that, Airbnb charges each month guests’ credit cards each (including the first month of the booking). For longer stays, you might also consider weekly or monthly discounts to attract either working professionals, college students, or anyone looking for longer bookings to facilitate their far from home missions.
4. Be aware of local rental laws
In this article, we define the term “long-term” Airbnb rental as any stay exceeding 28 days. This is used by Airbnb. This is also the amount that is usually used in the case of an established property tenancy in most jurisdictions.
On such matters, you must learn local legislation relating to evictions & rents. In many states and jurisdictions, a tenant can take over a property if they are unable to stay for at least a month.
Evicting the guest that overstays
It is also applicable when a person overstays the apartment or a place of residence. In these cases, a person can be evicted by summary actions from the house. Summary proceedings are actions that provide landlords with the judicial right to return their possessions of confiscated property.
If things go bad, landlords may call an attorney for advice or a local agency. In addition, check out the local rules of your home.
Airbnb provides hosting services for long-term rentals through the introduction of a number of additional tools that will allow Airbnb to offer hosts local accommodation during tough times. Airbnb holds the money so you won’t go through any property agencies or advertise the property yourself without Airbnb being involved.
However, Airbnb is one of its most important commitments to hosts and you should be familiar with local rules. But when done properly, renting your apartment longer can be very satisfying.