Short-Term Rentals: 10 Things to Know About Airbnb and VRBO
Mastering the Art of Short-Term Rentals: Tips and Tricks for a Stress-Free Vacation
As the world becomes increasingly connected, the demand for short-term rentals has skyrocketed. With the rise of platforms like Airbnb, Vrbo, and Booking.com, travelers can now rent unique properties in exotic locations, immerse themselves in local cultures, and experience the world like never before. However, with great power comes great responsibility, and navigating the world of short-term rentals can be overwhelming. That’s why we’ve put together this comprehensive guide to help you master the art of short-term rentals and enjoy a stress-free vacation.
1. The Top Short-Term Rental Sites Have Different Strengths
When it comes to short-term rentals, each platform has its unique strengths. Airbnb is the largest and most well-known, with over 7 million listings in 100,000 cities worldwide. Vrbo, on the other hand, focuses on private homes and tends to attract a more mature clientele looking for the privacy of whole-home rentals. Booking.com offers hotels alongside short-term rentals, making it valuable for comparing apartment, condo, or home prices vs. hotels at your destination. Expedia and TripAdvisor also offer short-term rentals, providing a wealth of customer reviews to help ensure a satisfying rental.
2. Know Your Assignment
Searching listings can be overwhelming, with over 1,000 options for a weekend in Nashville alone. That’s why it’s essential to have a game plan. Let’s say you’re heading to London. Scour the listings, create a shortlist, and review it with your travel partner before making a decision. And remember, even with a plan, you can still be fooled by artful photos!
3. Know Your Filters
Make sure the property has what you need, whether it’s a coffee machine, blender, pool access, or beachfront views. These details can make a big difference in ensuring a comfortable, pleasant stay. Confirm with your host before booking to avoid any surprises.
4. There is Good News for Consumers
As short-term rental platforms evolved, they learned from their mistakes and improved their services. Airbnb, for example, introduced AirCover, which provides 24/7 support, booking guarantees, and protection against last-minute cancellations or other issues with the property. They’ve also begun verifying listings to ensure they’re real, accurate, and align with what you’ll experience during your stay.
5. Booking Far in Advance vs. Last-Minute Deals
Booking four weeks out can yield the lowest median price, according to Nerdwallet. However, trying to hedge having the best rentals available vs. best possible price is a time-consuming game. Unlike airlines or hotels, Airbnb controls its search tool, so there’s no incentive to simplify the process of finding discounts or helping users know when a property offers a good or bad deal on any given date.
6. Read the Reviews Carefully
Without reviews, short-term rental platforms would never survive. Pictures may tell 1,000 words, but it’s the published feedback from other guests that’s the basis for determining an Airbnb rental’s quality and reliability. Make reading reviews a priority, especially if the property has less than a 5-star rating.
7. Is a Short-Term Rental Cost-Effective?
Cleaning fees, service fees, extra guest charges, and local taxes can leave guests with sticker shock. For instance, a luxe home in Nashville for a week in February costs $9,366.90 or $1,873.38 per night. Add on the $533 cleaning fee, $1,397.63 in Airbnb service fee, plus $1,750.51 in taxes, and that week totals $13,048.04.
8. Hosts May Offer Discounts for Longer Stays
According to Nerdwallet, the nightly rate for a seven-night Airbnb stay is 32% cheaper than the nightly rate for a one-night stay. A 30-day booking averages a 46% discount per night over the cost of one night.
9. Know Who Your Host Is and How They Communicate
Instant booking is available for many rentals, but before you commit and pay the deposit, reach out to the host. This will set the stage for what kind of communication and service you can expect during your stay. And remember, there are no front desks or concierge services, so make sure you have your host’s contact information on hand.
10. Make Sure You Understand the Cancellation Policy
While many guests prefer lenient policies for flexibility, they don’t always review these policies closely before booking. In fact, only a percentage of guests ensure that the cancellation policy aligns with their needs. Always reject ones that have a no-cancel policy.
By following these expert tips and tricks, you’ll be well on your way to mastering the art of short-term rentals and enjoying a stress-free vacation. Happy travels!