Airbnb: Increase income and return on investment! Getting started, costs and advantages of Airbnb – Interview

Airbnb – travelers beware! Do you love to travel and explore new places? Then you surely know Airbnb, the globally popular platform that allows travelers to discover unique accommodations. Airbnb has revolutionized the way we think about accommodations and has become a major player in the travel industry. But how has Airbnb achieved this impressive growth and what impact has it had on the travel industry? Learn everything you need to know about Airbnb in an exclusive interview with an Airbnb expert from Real Estate Experience.

Interview: This is what it’s all about

As a traveler, it is important to think about how to expand your accommodation options and create a unique travel experience from the very beginning. Airbnb can be an interesting option here, as it not only allows travelers to discover exceptional accommodations, but can also be an attractive source of income for hosts. By renting out accommodation via Airbnb, you as a host can improve your financial situation and promote tourism in your region at the same time. But how does Airbnb work exactly and what opportunities does it offer for travelers and hosts? In an exclusive interview with an Airbnb expert, you’ll learn everything you need to know to get started with Airbnb.

We conduct the interview with (in conversation “IE”). We talk in the interview about:

  1. What is Airbnb and is it legal in Germany?
  2. How to become a host on Airbnb?
  3. What advantages does Airbnb offer property owners?

What is Airbnb?

FIV: Let’s start with an overview first. What do you need to know about Airbnb?

IE: Of course! Airbnb is an online platform where private individuals can offer their apartments, houses or individual rooms for short-term rentals. The platform connects hosts and travelers around the world and offers a wide range of accommodation options for different needs and budgets.

Fragrance Tip! by FIV

So in a nutshell:

  • Online platform for private individuals
  • Short-term renting of houses, apartments, rooms, etc.
  • Wide reach for members of the platform
  • For different needs and budgets

Can anyone legally become a host on Airbnb?

FIV: What about if I want to offer my apartment or house myself? Is Airbnb legal in Germany?

IE: Good question! Basically, anyone in Germany can legally act as a host on Airbnb. However, there are certain requirements that must be met.

The most important aspects to consider are:

  • Legal provisions
  • Consent of the landlord

It is important to note that failure to comply with the legal rules and regulations can lead to legal consequences. Therefore, before you start renting on Airbnb, it is advisable to learn about the applicable rules and make sure that you comply with them to avoid any problems.

How to become a host?

FIV: An important question that I’m sure many of our readers have now is: How do you get started as a host on Airbnb?

IE: Of course, with pleasure! The process to become an Airbnb host is relatively simple and straightforward. Basically, you just need to follow these steps:

  1. Registration on the platform
  2. Creation of an advertisement
  3. Setting the rules and prices
  4. Set availabilities
  5. Accept booking requests

As soon as your ad is online, you will receive booking requests from potential guests. You can accept or decline these requests or ask questions to get more information. Once a booking is confirmed, you prepare your accommodation and welcome your guests.

When does Airbnb make sense for owners?

FIV: When does it make sense for owners or renters to become hosts on Airbnb?

IE: Airbnb is useful for hosts in different situations. For example, if you have an extra room in your house or apartment or own a vacation home that you don’t use all year round. It’s also ideal for people who like to meet new people and offer a unique experience.

Advantages for owners with Airbnb

FIV: That sounds simple. What do you think are the advantages that Airbnb offers hosts?

IE: Airbnb is a great way to increase income and return on investment for hosts. The platform allows you to generate additional income by renting out your apartment to travelers. Instead of leaving the apartment empty, you can actively use it to generate income. The additional income can help cover the costs of your apartment and even generate additional profits.

Advantage 1: Avoid vacancy, generate revenue.

IE: Besides that, Airbnb is flexible. You can decide when you want to rent out your apartment. For example, if you are traveling or temporarily not using your apartment, you can simply offer it on Airbnb and profit from the rental income.

Advantage 2: Flexibility and additional revenue for hosts.

IE: Another important advantage is that Airbnb allows you to keep control over your listings. You can set the price, availability and booking conditions yourself. You have the freedom to market and rent your apartment the way you want.

Advantage 3: Self-determination – in terms of prices and availability.

This is what Airbnb host costs

FIV: Are there costs for hosts on Airbnb, such as taxes and fees?

IE: Yes, there are – the platform has to finance itself, after all. First of all, there are Airbnb fees, which are usually a percentage of the rental price. These fees vary depending on the type of rental and the services Airbnb offers.

Hosts pay 3% of the booking cost as a service fee.

In addition, it is important to consider local tax regulations. In some countries and cities, hosts may have to pay sales tax or other taxes on their rental income.

Tips for young hosts

FIV: What tips do you have for young people who want to become hosts on Airbnb?

IE: First of all, you should familiarize yourself well with Airbnb’s policies and regulations so that you can comply with all the rules. It is also important to make your listing attractive by uploading clear and appealing photos and including a detailed description.

  • Read and comply with guidelines
  • Advertisement with meaningful pictures and descriptions

In addition, you should emphasize communication with your guests to answer their questions and offer them support when needed. This way, you will receive positive reviews, which are crucial for gaining the trust of potential new guests.

  • Good accessibility and communication with guests
  • Good ratings encourage new bookings

If you want to learn more about it, please visit our blog. Among others, I can recommend the articles Becoming an Airbnb Landlord and Getting Started with Airbnb by our foundation expert.

FIV: Thank you for the insight into Airbnb!

Summary: 10 Learnings about Airbnb

Let’s briefly summarize the most important facts for you.

Learning Airbnb
1 Airbnb is an online platform where private individuals can offer their apartments, houses or rooms for short-term rentals.
2 Anyone can legally host on Airbnb, but must follow certain legal requirements and landlord consent.
3 The process to become an Airbnb host includes registering on the platform, creating a listing, setting rules and prices, and accepting booking requests.
4 Airbnb makes sense for owners or renters who have extra rooms or vacation rentals and want to generate income.
5 The platform also offers the opportunity to meet new people and provide a unique experience.
6 Benefits for Airbnb hosts include vacancy avoidance and the ability to earn additional income.
7 Hosts must pay Airbnb fees, which are typically a percentage (3 percent) of the rental price.
8 There may also be local taxes that need to be considered.
9 Hosts retain control over their offerings, including pricing, availability and booking conditions.
10 Positive reviews are important in gaining the trust of potential new guests and encouraging bookings.