Long-Term Airbnb Stays

Do you want to try out the long-term rental experience with your Airbnb listing and reach a new category of travelers to boost your rental business? Discover all the advantages and everything you need to take into account when targeting long-term Airbnb travelers in this guide.

What is a long-term stay on Airbnb?

Airbnb considers a long-term stay to be one of at least 28 days. The accommodation types are the same as short-term rentals and include both ‘Entire homes’ and ‘Rooms’. As with short-term accommodation, Airbnb has begun allowing guests to search for accommodation (from 1 month to 1 year in total) monthly stays can begin and end at any time during the month.

Short-Term vs. Monthly Airbnb stays

Short-term stays are popular for vacations, while long-term stays may attract remote and nomadic workers, those moving to a new city for the first time, students, and those coming to a city for over a month (perhaps for a conference).

Travel habits have shifted in recent years, with more travelers seeking long-term rentals for remote work or extended stays for professional projects or leisure. Offering medium- or long-term stays expands the potential customer base and boosts bookings, especially during slower periods.

Unlike short-term rentals, which fluctuate with seasonal demand, long-term rentals provide stable income through set agreements and are less affected by market shifts, aligning more with broader economic factors like job stability.

Airbnb does allow hosts to set booking limits and requirements, enabling flexibility in managing both their short- and long-term rentals.

Advantages of monthly rentals on Airbnb

Currently, long-term rentals make up about 17-18% of Airbnb’s business, tapping into a growing market. This approach caters to groups like healthcare workers and students needing longer stays.

The shift to remote work has increased demand for long-term Airbnb rentals as people seek flexible living options. Since 2020, over 80% of Airbnb hosts have begun offering long-term Airbnb rentals, meeting the needs of remote workers.

Increased financial benefits

Long-term rentals offer stable monthly income, often more reliable than short-term rentals with fluctuating occupancy. Currently, Airbnb’s long-term rentals account for 17-18% of its business, up from 13-14% pre-pandemic. Hosts considering a shift to long-term rentals should assess if their property’s monthly income would surpass potential short-term earnings.

Seasonal shifts also impact income, and offering weekly or monthly discounts during off-peak periods can help attract long-term guests, enhancing revenue stability. By opening up your rental for the long term, you can anticipate an income stream and ensure a predictable income stream. This can help you replenish your coffers and pay running costs during slower periods when short-term rentals are less successful.

Overcome market trends and seasonality

Market fluctuations, often driven by tourism and events, can impact Airbnb rates and occupancy. High tourism periods raise demand and rates, while downturns reduce occupancy and income.

Although long-term rentals are more resilient to short-term market changes, they are still influenced by larger economic trends, providing hosts with greater stability during uncertain times.

If you offer your property for long-term rental, you will certainly fill your booking calendar. You also avoid unbooked days between two short-term rentals, for example. This long-term rental strategy can be particularly interesting during low-season periods when you have difficulty obtaining a satisfactory booking rate.

Reduce your workload

Renting your property on a rental platform like Airbnb for long-term stays saves you time and effort. Indeed, by renting for a medium or long period, you avoid:

• The comings and goings of different travelers.
• The organization of cleaning and reducing associated cleaning costs.
• Frequent changes of linen.
• Check-in and out in person if you don’t have smart locks or key boxes
• repetitive traveler communication

On the other hand, you can offer your long-term tenants a weekly cleaning with clean bed linen, for example.

Add more flexibility

Of course, you can favor short-term rentals during a key period and also open medium- or long-term rentals outside of this period. Airbnb’s internal data shows that accommodations available for both short- and long-term stays had higher average annual revenue (from November 2020 to November 2021) than rentals open only to short-term stays.

How to enable long-term stays on Airbnb

If you want to open your vacation rental to long-term bookings, make the following changes.

1. Allow long-term stays on Airbnb.
2. Click on the “Listings” tab and select a listing.
3. Click on “Availability”.
4. Go to Trip Details. Delete your maximum stay setting or adjust it and choose to manually check for extended stays.
5. Click or tap “Save.”
6. Offers weekly or monthly discounts.
7. When a traveler books by the week, several weeks, or months, they expect to get a deal. A deal often helps get the traveler past the booking stage. For you, this means a guaranteed reservation and a full calendar!

To set up a weekly or monthly promotion on Airbnb, follow these steps:

1. Click the “Ads” tab and then select an ad.
2. Click “Rate”.
3. In the “Discounts” section, enter your weekly or monthly discount.
4. Click “Save.”

How does it work in practice? Your weekly discount will apply to all reservations from 7 to 27 nights. Your monthly discount will apply starting from 28 nights.

Managing Your Property for Long Stays

Properties leased for extended periods usually demand less intensive management, as there are fewer transitions between tenants and reduced administrative tasks.

Long-term tenants often seek a sense of stability and the amenities that come with living their normal day-to-day lives. This would mean normal things like access to washing machines and dryers, cooking facilities, heating systems, dedicated workspace, etc.

Likewise, many of these potential guests will also be looking to combine these features with some elements that would appeal to their desire for comfort and entertainment. This may include things like TVs, streaming services, and other luxury amenities.

Optimize your listings for longer stays

Those guests in search of monthly stays will, as mentioned, be on the lookout for specific amenities and details while they search. In order to attract them, you want to ensure that you highlight this in your listing description and that you cater to their needs.

Offer discounts

To attract extended-stay guests, set your Airbnb listing for bookings over 28 days and offer appealing monthly discounts. These discounts boost visibility and appeal in search results, while a long-term cancellation policy, allowing full refunds within 48 hours of booking or 28 days before the stay, adds security.

Offering competitive monthly discounts based on expected vacancies helps maintain a stable income and minimizes empty nights, reducing cleaning costs and turnover.

Highlight specific amenities

Include details on nearby attractions, dining, and local recommendations to appeal to guests. Mention proximity to supermarkets, parks, public transport, or anything else that is important in our day-to-day lives. Properties near employment centers or with easy public transport access are especially appealing.

Also, consider your pet policy. Many traveling for extended periods of time may want to bring their pets, especially those traveling nationally.

Prepare the space

Ensure the accommodation is fully equipped with essentials, such as reliable Wi-Fi, a furnished kitchen, and quality linens. Additional additions, like a home office, further enhance the appeal for remote workers.

Attract remote workers

Remote workers need furnished rentals with dedicated workspaces and reliable high-speed Wi-Fi for productivity. Verified internet speeds, ergonomic chairs, and proper lighting help with comfort and focus. Descriptions of your accommodation should emphasize any of these mentioned amenities.

Legal considerations and regulations

Monthly stays listed on booking platforms may still face certain tax obligations, even though they aren’t classified as short-term rentals. Regardless of duration, property owners must adhere to local laws and regulations that govern their accommodation.

Zoning and regulatory rules regarding rental properties can differ widely at the local level, making it essential for property owners to conduct thorough checks to ensure compliance.

Understanding local laws

Many local governments are empowered to introduce laws and restrictions that target many vacation rentals to tackle issues like housing shortages for residents. A number of countries throughout Europe and cities in the US such as New York have enacted measures requiring short-term rental hosts to obtain licenses and comply with specific occupancy guidelines.

We strongly recommend that before listing your property for monthly rentals, you consult with someone knowledgeable in local laws and regulations to ensure you are compliant.

Conclusion

Offering your accommodation for monthly stays is a straightforward process. It is, however, worth doing your research into how you can do this and if it makes sense for you as a property owner, business owner, or host.

To help with the logistics involved in any kind of Airbnb rental, Smoobu is here to provide you with a reliable Channel Manager, Booking System, Guest Communications hub, and more.

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