Airbnb Extended Stay refers to bookings that last for several weeks or months, offering a flexible alternative to traditional rental agreements.
With the rise of remote work, professionals are opting to work from different locations, blending work and travel. Guests seeking immersive experiences prefer staying longer in one place to live like a local. Individuals in transition – whether due to job changes, home renovations, or personal circumstances – often rely on Airbnb for short-term housing solutions.
This trend has made monthly Airbnb rentals attractive for both guests and hosts and creates a win-win scenario of affordability and convenience.
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How Do Airbnb Monthly Rentals Work?
Airbnb Extended Stay Booking Process
- Search for Monthly Stays: Guests can filter Airbnb listings for long-term stays using the “When” option or by specifying Airbnb monthly rentals in the search.
- Pricing Discounts: Many hosts offer discounted rates for extended stays, which are automatically applied during booking if the stay meets the required duration.
Airbnb Extended Stay Payment Terms
- First Month Upfront: Guests typically pay the first month’s rent in advance at the time of booking.
- Monthly Payments: For stays longer than a month, Airbnb charges subsequent payments monthly, similar to a subscription model.
Airbnb Extended Stay Policies and Agreements
- Cancellation Policy: Monthly stays are subject to Airbnb long-term cancellation policy, where guests must provide notice before the check-in date for a partial refund.
- Rental Agreements: For Airbnb extended stays, hosts may request guests to sign additional rental agreements outlining specific rules and responsibilities.
How to Make the Most of Monthly Airbnb Rentals
Airbnb monthly rentals cater to guests seeking long-term accommodations, making it crucial for hosts to offer features and policies that ensure convenience, comfort, and clarity.
Here are the key elements that define successful monthly Airbnb rentals:
1. Discounts
One of the primary incentives for guests booking monthly stays is the potential cost savings. Offering attractive discounts for weekly or monthly stays can significantly boost bookings.
- Why Discounts Matter: Long-term guests often compare the cost of Airbnb to traditional rental agreements. Discounts make your listing more appealing and competitive.
- How to Set Discounts: Many hosts set automatic discounts for stays longer than 28 days. Use dynamic pricing tools or research local market rates to offer fair and enticing discounts.
- Benefits for Hosts: While you earn slightly less per night, long-term stays reduce turnover costs, cleaning fees, and the time spent managing short-term bookings.
2. Flexible Cancellation Policies
Long-term guests value flexibility when booking, especially if their plans are uncertain. Airbnb long-term cancellation policy is designed to strike a balance between protecting hosts and accommodating guests.
- Custom Policies: Consider offering more flexible terms, such as partial refunds for cancellations within a certain timeframe, to attract bookings.
- Peace of Mind: Clear and fair cancellation policies build trust and encourage guests to commit to long-term stays.
3. Amenities for Comfort and Convenience
Guests booking Airbnb extended stays look for a home-like environment that supports daily living.
Must-have amenities for monthly Airbnb rentals include:
- High-Speed Wi-Fi: A non-negotiable for remote workers and digital nomads.
- Fully Equipped Kitchen: Providing cookware, utensils, and basic pantry staples makes it easier for guests to prepare meals.
- Laundry Facilities: On-site washers and dryers are highly valued for long-term stays. If not available, provide details about nearby laundromats.
- Workspace Areas: A desk, comfortable chair, and good lighting cater to professionals working remotely.
- Other Essentials: Cosy bedding, ample storage space, climate control (heating or air conditioning), and access to parking.
- Premium Features (optional but desirable): Smart home technology, streaming services, outdoor spaces (patios or balconies), and fitness equipment.
4. House Rules
Clear house rules are essential for managing expectations and maintaining the property during long-term stays. Ensure these rules are communicated in your listing and reiterated during the booking process.
- Noise Restrictions: Outline quiet hours to ensure harmony with neighbours and prevent disruptions.
- Visitor Policies: Set guidelines for hosting visitors, overnight guests, or gatherings.
- Cleaning and Maintenance: Specify the guest’s responsibilities, such as maintaining cleanliness and notifying you of repairs. Offering optional cleaning services during the stay can also be a win-win.
- Smoking and Pets: Clearly state your policies on smoking and pet accommodations, as these can significantly impact the property.
Do You Need a Long-Term Lease for Airbnb Extended Stays?
If you’re considering offering long-term rentals on Airbnb, you might wonder whether a traditional long-term lease is necessary. The short answer is: not always, but having a clear agreement in place is essential. Here’s what you need to know:
What Is a Long-Term Lease?
A long-term lease is a legally binding contract between a landlord and a tenant for a fixed duration, typically six months to a year or longer. It outlines the terms of occupancy, rent payment, and responsibilities for both parties.
How Does This Apply to Airbnb Monthly Rentals?
Unlike traditional long-term rentals, Airbnb’s platform operates on a short-term rental model, even for stays of 28 days or more. For these bookings:
- Airbnb Terms of Service Apply: Both guests and hosts agree to Airbnb’s rules and policies when making a booking.
- No Standard Lease Required: Hosts generally don’t need to draft a traditional lease unless required by local laws or if the stay exceeds Airbnb’s maximum booking duration.
However, for stays lasting several months, having additional agreements can be beneficial to clarify expectations.
How to Optimise Pricing for Airbnb Monthly Rentals
When offering monthly rentals on Airbnb, managing competitive pricing for various durations can be challenging. Zeevou’s Monthly Rates feature addresses this by enabling holiday home managers to set multiple rate plans for the same unit type.
Flexible Pricing Structures: Hosts can assign different rates for nightly, weekly, and monthly stays within the same property.
Market Responsiveness: Adjust rates dynamically to match market demand, allowing you to combine short-term, medium-term, and long-term rentals seamlessly.
Reduced Vacancy Risks: By catering to different guest preferences, from weekend getaways to multi-month stays, Zeevou helps reduce the likelihood of empty properties.
With this feature, hosts can adapt to changing market conditions and boost occupancy to ensure a steady income stream throughout the year.
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