If you are a property owner, considering opening up your home to guests you likely have many questions! We have answered some of the most common here.
How much can I make from Airbnb as a property owner?
During the initial consultation, we will discuss similar listings and approximate revenue expected. Keeping in mind, it will often take a couple months of great reviews to see full earning potential.
What percentage does Airbnb take in fees?
They receive 3% of booking amount
Is Airbnb safe?
There are verification measures in place to ensure identity of guest. Such as email and phone verification. Setting is also available to verify guest using government issued ID. The mutual review system also build trust and safety between host & guest.
What if something happens to my home?
Aibnb does provide a 'host guarantee' program it covers to a maximum claim of 1 million USD in damages/liability. While this is fantastic, it does not replace your home insurance. We encourage homeowners to review and communicate with their local insurance provider. Not all policies will cover damage or loss by a guest who books your listing. Many insurance companies consider a 'home share' service fairly new and provided policies do not always reflect needed coverage.
What about taxes?
In 2018 the BC govt has come to an agreement with Airbnb regarding taxation. Airbnb collects 8% PST on each booking, and remits directly to govt. Apparently the extra monies are funding upcoming affordable housing.
Airbnb was founded in 2008, in 2018 there are officially more listings through Airbnb than hotel units. With 4 million listings worldwide.
The fastest growing Canadian host demographic is seniors. There has been a 102% increase in senior hosts in 2017!
Overall Canadian usage of Airbnb in 2017 was 63% increase.