What are the Problems with Airbnb hosting?
If you’re a property owner in Madrid, you’re sure to have thought about renting your property out on Airbnb. While renting out your property short-term on Airbnb is a lucrative and relatively easy process to get started, diving headfirst into the world of Airbnb alone can have some major risks.
Without the assistance of a short-term rental managing agency, you could find yourself at risk of liability for things like injuries, changing regulations and cancelled bookings.
Handling these risks alone may make your Airbnb venture a lot more difficult than it initially seemed, so pairing up with a short-term rental managing agency such as Cherry Host is essential to anyone planning to rent their property.
In addition, a short-term rental managing agency can significantly reduce the risks involved in Airbnb hosting and are able to take away a whole lot of stress from the process.
We’ve compiled a list of risks involved in Airbnb hosting and how hiring the help of a short-term rental managing agency can help alleviate these risks:
Risk of Liability
When you rent out an Airbnb, you are amounting an undue level of trust onto the guests who have booked to stay on your property. You may feel as if you have a good idea of how reputable your guests are based on pre-check-in conversations on the Airbnb app, but this is not enough to go off of to ensure that you can trust your guests on your property.
This is why liability risks are one of the major drawbacks for AirBnB hosts: Any Airbnb host should have a system in process to mitigate any possible liability risk. For instance, if a guest gets injured on your property, damages it, or causes damage or injury to your neighbours and their property, you will be the one who has to answer for these problems.
The main way to mitigate this risk is through having the correct amount of insurance to minimise any expenses you may have to pay out in the case of a liability. By hiring a short-term rental managing agency, you can ensure this insurance is taken care of.
A short-term rental managing agency such as Cherry Host will ensure that your insurance is taken care of, giving you one less risk to worry about in your Airbnb hosting venture.
A short-term rental managing agency will also do its best to vet guests before their arrival to ensure they won’t be at high risk of damaging themselves or the property during the duration of their stay.
Changing Regulations
In Madrid, regulations for short-term rentals could change at any moment. Airbnb hosting is an ever-growing industry, and the law is constantly evolving to keep up with the phenomenon. As a result, cities such as Madrid are always looking for ways to place new restrictions on short-term property rental through implementing zoning regulations and rental laws.
This may mean that governments can make high compliance costs or enact new laws about renting that you were not previously aware of. This could mean you are ending up paying out more than you envisioned to keep up with these new laws.
You cannot trust Airbnb themselves to inform you about these changing regulations as it is not in the interest of their business, so the onus is upon the host to make sure they are up to date on any laws which alter.
By entrusting your renting process to a short-term rental managing agency, you can greatly reduce the risks of getting caught up in any legal issues due to changing regulations. At Cherry Host, we are a short-term rental managing agency with strong contacts with lawyers who know all about the regulatory laws of AirBnB hosting in Madrid.
That means we can offer strong legal advice on any issues that may come about due to the ever-changing laws and get you in contact with quality legal help if any issues come to light.
High-Speed Guest Turnover
Since Airbnb is designed for short-term rentals, there will most likely be a lot of guests coming and going from your properties during busy holiday periods, especially in a tourist city such as Madrid. This means that you have to keep on top of making sure that your property is up to a high-quality standard before new guests arrive.
Due to the nature of short-term renting, this means that you may only have up to 24 hours to get your property in order for new visitors. That includes changing bed linen, cleaning, and replenishing any stock you may offer in the fridges and cabinets.
So if you have a busy lifestyle on top of renting a property, you may find yourself stuck for a time when it comes to making sure your property is in good condition before another guest arrives.
By getting the help of a short-term rental managing agency, you can completely eliminate this problem. A short-term rental managing agency will deal with bookings and make sure there is enough time to sort the property out before new guests arrive, so weight is taken off your shoulders.
They will also be responsible for disposing of any linens and toiletries and getting the property in order for a warm welcome of the guests. This means that you can keep your jobs to a minimum during the period between new guests’ arrival.
Maintaining your Listing Management
To ensure your property stays well-reviewed, you need to make sure your Airbnb listing is constantly up to date with high-quality pictures and the correct information.
If you fall short of having this, guests who stay at your property may feel as if they haven’t gotten the property they expected and, in turn, leave a bad review for your property.
Of course, you could have the perfect place or guests to stay, but having an incorrect listing on your Airbnb page for the most minor of details may lead to you losing out on that all-important great review.
By enlisting the help of a short-term rental managing agency, you can make sure that your listing is completely correct. A short-term rental managing agency will deal with all the details of a good Airbnb listing.
This includes creating a full property audit with a list of all household items and creating an Airbnb listing which has all the important aspects of your property. A short-term rental managing agency will also make sure that your property is well advertised and looks appealing to potential guests.
On top of all of this, short-term rental managing agencies can deal with all booking arrangements and guest enquiries so that your visitors are sure they know what to expect when they arrive at your property. Since a short-term rental managing agency will ensure that your guests’ expectations are in line with what your property offers, you will receive better reviews and get more income from short-term renting.
If you are looking for a Madrid-based short-term rental managing agency which specialises in Airbnb hosting, please contact us on our website. We will ensure that all the risks involved in Airbnb hosting are reduced to a minimum so that you can be sitting back and watching the guests flow in.
