Airbnb has become a popular platform for short-term rentals around the world. With its user-friendly website and app, it has made it possible for travellers to find affordable accommodation and for hosts to make some extra money by renting out their space. However, just like any other rental agreement, there are rules that both guests and hosts need to follow to ensure a smooth and safe experience.
Airbnb`s agreement covers everything from payment, pricing, cancellation policies, and liability. It is important for both hosts and guests to read and understand the agreement before using the platform. Here are the key points of the agreement that you should be aware of:
1. Payment: Airbnb handles all payments made between guests and hosts. The payment is released to the host 24 hours after the guest has checked in. Airbnb charges a service fee for each booking, which varies depending on the total cost of the reservation.
2. Pricing: Hosts set their own prices and can choose to offer discounts or charge extra during peak seasons. It is important to set a competitive price that is reasonable for the space offered. Guests can also negotiate the price with the host before booking.
3. Cancellation policy: Hosts can choose from three cancellation policies: flexible, moderate, and strict. Flexible allows guests to cancel up to 24 hours before check-in, moderate allows guests to cancel up to five days before check-in, and strict allows guests to cancel up to seven days before check-in. If a guest cancels their reservation after the cancellation period, the host will receive a portion of the payment.
4. Liability: Airbnb provides Host Protection Insurance that covers up to $1 million in damages to the host`s property caused by guests. However, this insurance does not cover personal injury or intentional damage caused by the guest. Guests are also responsible for any damage caused to the property during their stay.
In addition to the agreement, hosts and guests should also be aware of the local laws and regulations regarding short-term rentals. Some cities have strict regulations and require hosts to obtain a permit or pay a tax on their rental income.
Overall, the Airbnb agreement is designed to protect both hosts and guests and ensure a positive experience for everyone involved. By reading and understanding the agreement, hosts and guests can avoid any misunderstandings or issues that may arise during their stay.