So here we are; it’s vacation time once again..sometimes when you’re traveling, do you ever feel like the last thing you want to do is stay at another hotel? Sure- maid service, and fresh towels daily are quite a nice luxury if you ask me, but every hotel room seems to look the same! Freshly made bed, sizable tv, mini fridge, sofa/ or small seating area, and an accommodating bathroom. That is typically what you will find in any standard hotel room.
So are you ready to break out of the normal routine? Maybe you’ve heard about AirBNB or VRBO and you’re wondering what it’s all about. Or maybe you have a property your looking to rent yourself and you are exploring your options. Rest assured- we are here to break it down for you, just how you would list your property to rent on these sites, and how you would go about renting one for your next getaway.
As mentioned above, two of the main platforms you will see advertised most are Airbnb and VRBO. Both of these websites are services that connect hopeful homeowners with Prospective clients who may be looking for short-term rentals, and each are recognizable for a variety of reasons.
Let’s take a moment to talk about the basics:
VRBO:
Founded in 1995, this acronym is short for Vacation Rental By Owner. As the name implies, you can find all sorts of vacation rentals to suit your needs, Homes, condos, villas, furnished apartments, etc.
AirBNB:
Originally founded in 2008 as “Air Bed and Breakfast” (until a later rebranding in 2009).. this is a home rental platform with one goal in mind, connect vacation prospects to homeowners providing short term rentals.
So what’s it cost to rent my property on these sites?
VRBO:
•Owner Fee: $499 annually or 5% per booking + 3% credit card processing fee
•Guest Fee: 5-15% per booking
•Combined Monthly Traffic: 40 million visitors
AirBNB:
•Owner Fee: 3% booking fee
•Guest Fee: 0-20% per booking
•Monthly Traffic: 80 million visitors
So how do I rent my property?
VRBO:
2. Set up your property: explain what is unique, best features, show off those photos and set the right price!
3. Once your rental is live, you are connected with travelers all over the world.
4. Start renting! They do all of the work for you, deduct their commission, and your on your way to collect your rent!
AirBNB:
1. Sign up here:
2. Create your listing- any type of property, from guest rooms to holiday homes.
3. Set your rates, upload your photos, and highlight your home’s best features.
4. Get to know your clients! Once your listings goes live, prospects can message you before you confirm their rental.
AirBNB is free to join, while VRBO has an annual fee of $499 to join, and list your property. It does seem pretty easy to do so once you Sign up, login and upload your info! Both platforms also have an online chat support who seem readily available should you need their assistance.
So now.. which site do I want to rent with?
That’s a good question, while both sites charge a fee to both homeowner and renter, it truly depends on exactly what kind of trip you are looking for.
AirBNB May suit the needs of anyone looking for more of an “adventurous” trip, with their suite of “explore” features, and flexibility of rental type.
However, if you are committed to a full vacation, a true escape, VRBO may be better suited for you.
Each website offers a variety of tools and rentals that will help you book that next getaway.
Remember, either website will still require the mandatory state transient tax which is approx. 12% of the rental rate.
While the information provided above is for choosing to list your home on your own, most clients still choose to work with a real estate agent (Yes we can even work with your rentals!) Find out more information here: How Do I Collect Rental Income From My Property
**We are not affiliated with VRBO nor AirBNB. Information provided solely for informational purposes only and it subject to change per the terms and conditions on the websites listed above.