AirBNB Business

[eeyore91833]

What can you avise for long term stays eg 15 days? Since it's summer now im sure the AC will be on most of the time. How do you deal with this? 

[jmeangeL]

@margasyjuco
PM na lang sis, baka sabihin ng admin soliciting... 

@eeyore91833
So far, wala pang long-term stays.  But I have a booking in July to August time frame na almost a month.  My aircon would likely get a work out on those days.

I'm thinking of telling the guest to just turn it off when they're going out.

[eeyore91833]

baka kasi lugi sa electricity pag ganun

[Annie M.]

^I wonder kung paano mag-install nung parang sa mga hotel, na automatic namamatay lahat ng kuryente once you take the keycard out. baka mahal.

[jmeangeL]

baka kasi lugi sa electricity pag ganun

Last month I paid 3100+, on almost a full month.  Not bad.  This can be recuperated for only 2 days rental.

Let say you're renting your place for 2k a night and has a booking of 15nights.  That's already P30,000.

I don't think na aabot sa ganun kataas ang electricity consumption kung maliit lang ang space.  Or put an inverter split-type aircon para mas sure na tipid.

I only have a 1HP high efficiency window type aircon.  Not even inverter kasi mahal.   

[summer888]

@jmeangel I've always wanted to buy a property and rent out through airbnb but have no idea especially on the part ng mag manage ng cleaning and checking in and out of guests. Yung mga location na gusto ko malayo kase sa akin.

Saan kaya makaka kuha ng info kung aling location ang mataas ang occupancy rate?

Thank you for sharing tips and experiences. I hope marami pang makapag share dito.

[jmeangeL]

Try Airdna.com
They're a data gathering company that specializes in getting Airbnb stats on different cities. For PH ang meron sila ay NCR (MM), Cebu and Baguio.
Makikita mo ang dami ng active listings, min-max Price, occupancy rates, etc.
Lurk in Airbnb. Check the listings there ng potential space na gusto mo for you to have a basic idea.

About naman sa mga cleaning service, check with the sales staff ng condo. Kilala nila kung sino ang mga caretaker sa place and you can interview sa mga recommendation nila.

Next target ko is to buy a 2nd unit and offer my listing service to other people.

[Annie M.]

Does your condo board require you to tell them in advance kung sino yung mag-re-rent ng unit mo, even if they're just staying for a few days?

[jillai]

Hi Sisses, can I also ask what items did you invest in to make the unit more attractive to rent? Or at the least, what are the basic necessities that you provided for in the unit?

My unit already has the bare minimum, and I am thinking a lot if I should be getting more stuff, and if so, what items? I need to be very careful kasi how I spend what I have, coz my job is going through rough patches so every cent counts.

Thanks again!

[jmeangeL]

@Annie M.
Authorization letter is required in our condo for every guest that would be staying in the unit.  It should state clearly the unit number, date when the guests would be staying and the names of the guest.
However, the signature must be genuine, meaning the letter has to be printed and signed before sending to them whether physically or thru email.
It can be on the same date.  I had a guest last night, booked last minute and I was driving, so she had to wait for me to get home and send the authorization letter before she was able to come up the unit.

jillai
It would depend on your listing.  You can list only a bed space, a single or shared room or the entire unit.
However, I would say that the common denominator for all of this, which the guests would be expected to be included on their paid stay are the following:

• Clean beddings
• Towels
• Toiletries, like tissue, soap and shampoo

Remember that each item that you provide are tick-able list on the Airbnb listing.  So if you have aircon, then tick it on the listing.  If you have wifi or cable TV, tick them on the listing.  But they are not necessarily needed to be able to put up your listing in Airbnb.

It may affect your chance of being booked, if say another listing on the same vicinity provides the aircon and you don't, and your price are the same.  A guest would rather book the room with the aircon as opposed to a room without.

Now, as for my listing I have all the essentials or what you would expect should you book a resort-type of hotel; except breakfast.

The guest would be provided with bottled water, coffee and tea, and if there are kids, juices for them.  Four pieces big pillows even if there's only 2 of guests, since that's how I my beddings are bundled.

[summer888]

Try Airdna.com
They're a data gathering company that specializes in getting Airbnb stats on different cities. For PH ang meron sila ay NCR (MM), Cebu and Baguio.
Makikita mo ang dami ng active listings, min-max Price, occupancy rates, etc.
Lurk in Airbnb. Check the listings there ng potential space na gusto mo for you to have a basic idea.

About naman sa mga cleaning service, check with the sales staff ng condo. Kilala nila kung sino ang mga caretaker sa place and you can interview sa mga recommendation nila.

Next target ko is to buy a 2nd unit and offer my listing service to other people.

I read your reply too on my PM. Thank you Sis for sharing your experiences. I wish you success in your AirBNB business. I might have more questions once mag decide ako mag venture into to this so sana huwag ka mag sawa sumagot. Thank you again.

[momlory]

Bought pre selling condo near moa. Still walking distance pero medyo malayo siya pag nilakad. I'm thinking kung ibebenta namin or iparent out.. Sa taas kasi ng price niya i think baka hindi rin mabawi kung paparentahan.

[Annie M.]

I found this article sa ZipMatch, and some of you might find it useful:

"This heatmap shows the best cities to invest in based on rental yield. It is important to note that at a rate of 6.51% to 7.98%, Metro Manila?s rental yields are impressive compared to the 4.2% average gross rental yield in the Asian region."

http://www.zipmatch.com/blog/rental-yield-buy-sell-property/

[jillai]

jmeangeL, sis, thanks very much for being so helpful

Pa-ask ulit, do you require security deposit? If yes, how do you return/handle it?

TIA!

[jmeangeL]

@jillai
We ask for a rental deposit for guest staying beyond overnight or if they have kids with them.  This is collected during key exchange process.  Maliit lang naman, 1K lang.  Then, during check out, my staff would inspect the unit and return they 1K in exchange for the key.

However, Airbnb also has a facility to do the rental deposit electronically. You'll just have to put in the amount.  Once a guest booked, the rental deposit would be in escrow of Airbnb.  After they check out and you didn't file any claim against the rental deposit, it would be returned to them in full.  If you filed a claim and was able to successfully work out the amount with the guest, that amount would be transferred to you by Airbnb.

[caterpillar-girl]

Mga sis, anong policy if the renter breaks an item or an appliance? We're thinking of having our unit rented out and we have nice appliances there like a huge flat screen tv. Paano kaya pag nasira? Will they pay for full amount ng damage?

[twinbee]

kakaregister ko lang  sa airbnb and so far, got two inquiries but booking didnt push through
medyo nangangapa pa ako sa system nila.. hopefully, makabook ako ng marami for our unit.

[tischarmedlife]

Mga sis, anong policy if the renter breaks an item or an appliance? We're thinking of having our unit rented out and we have nice appliances there like a huge flat screen tv. Paano kaya pag nasira? Will they pay for full amount ng damage?

Sis, you should include a security deposit in your listing. If may masira sa mga gamit sa place mo, you can file a claim through Airbnb's Resolution Center. Ang importante lang, you reach out to Airbnb asap pag may ganyang cases or before a new guest checks in para di makapag-deny si previous guest, kung sakali lang. And of course, documentation like photos or videos help a lot too.

[jmeangeL]

Mga sis, anong policy if the renter breaks an item or an appliance? We're thinking of having our unit rented out and we have nice appliances there like a huge flat screen tv. Paano kaya pag nasira? Will they pay for full amount ng damage?

Keep a copy of your item's receipts.  Especially yan mga big ticket items.  So far, ang madalas masira ay mga babasagin likes plates, glass and bowls.

It would really help kung mag-inspect ka ng unit mo during check out ng guest.  Do a quick survey ng mga appliances kung complete ba at functioning before letting them go out.

Meron guest na honest, sasabihin nila na may nasira sila. Meron guest na hindi mo alam, itatago ang gamit mo na sira. Or ibabalik sa dating lagayan para mukhang OK.  Magugulat ka na lang may damage na pala.

[LilaFowler]

Do you declare taxes on your airbnb income or other rental income?

I just want to know kung ma-trabaho ba.