in

Airbnb Plus: A Short-Term Rental Investor’s Guide


If you’re investing in vacation rentals, being an Airbnb Superhost is a great start. But you can level up a notch and upgrade to Airbnb Plus.

 Table of Contents

  1. What Does Airbnb Plus Mean?
  2. How to Get Airbnb Plus Status?
  3. What’s the Difference Between Airbnb Plus vs Superhost?
  4. Pros and Cons of Having an Airbnb Plus Property
  5. Find a Profitable Airbnb Property Using Mashvisor

Since travel restrictions are progressively being lifted across the United States, short-term rentals are back in business this year. If you’re an investor looking to invest in vacation rentals, you might already know that Airbnb is one of the most widely used platforms for rental listings worldwide.

Being an Airbnb host is a great way to start your short-term rental business. After all, there’s a high Airbnb demand all over the US, especially this year when the tourism industry is seeing a resurgence.

If you’re new to short-term rental investing, you may be wondering what is Airbnb and how it works. Airbnb is short for “Air Bed and Breakfast,” and it is generally an online platform where vacation renters can find short term rental properties to book for their next travel. People with a spare room to rent can list their property on Airbnb, as long as they are licensed to operate a short-term rental in their area.

In layman’s language, we define Airbnb as an online marketplace that connects vacation rental property owners to guests looking for accommodation in a particular location. Note that Airbnb does not own any of the properties posted on its platform. It serves as a marketplace and acts as an intermediary between property owners and guests.

What Does Airbnb Plus Mean?

Airbnb Plus is a program offered by Airbnb that provides a plus classification to Airbnb hosts. To become an Airbnb Plus host, you should meet certain standards and requirements.

For instance, your property should be of an exceptional standard, and you should also go extra with your service. Investment properties that are eligible for such an elite Airbnb classification usually come with splendid designs, own high rankings on the platform, and offer extraordinary hospitality.

The Airbnb Plus meaning, in general, is that it is a designation only given to top properties in various destinations. Airbnb hosts with the highest quality vacation rental properties and excellent reviews are likely to be qualified for an Airbnb Plus designation.

Usually, the classification is not given to new hosts with new listings on Airbnb. It is only given to established, well sought-out properties that received impressive reviews from customers.

How to Get Airbnb Plus Status?

If you invest in Airbnb and want to be eligible for a Plus classification, you and your listing should meet certain standards set by Airbnb. Follow the steps below to participate in the Airbnb Plus program.

Step 1: Know the Eligibility Criteria

Airbnb is quite strict when it comes to accepting Plus applicants. If you want your short-term income property to be recognized as one of the elite Airbnb Plus homes, you should first know and meet the eligibility requirements.

The following are the minimum eligibility criteria that you should meet:

  • Listing type: Your listing must be an entire property or a private room with its own private toilet and bath.
  • Property location: Your property must be located in an area where Airbnb Plus is available.
  • Host’s rating: As a host, you should maintain at least an average of 4.8 rating score from your guests for the past year.
  • Booking: You should have accepted at least 95% of booking requests from your guests for the previous year.
  • Cancellation: You should not have canceled any reservations for the past year, except for reasonable circumstances.
  • Airbnb hospitality standards: You should have maintained the Airbnb hospitality standards. They include being responsive, getting positive reviews, providing essential amenities, etc.

Step 2: Apply For Plus Classification

Once you’re sure that you and your vacation rental property meet the minimum eligibility criteria, you can apply to get your listing classified as an Airbnb Plus home.

To apply, you need to complete a home checklist first. Then you should schedule and complete the remote visual assessment. Afterward, a home inspection by a third-party inspector should be done. You can also do a professional photography session, as impressive photos are essential in getting a Plus approval for your property.

An application fee will be charged once you schedule a home inspection with a third-party inspector. The fee is non-refundable, and it should cover the Airbnb cost of the home inspection, inspection report, and the overall application process. However, it does not guarantee approval and continued participation in the Plus program.

Once you receive the home inspection report, you should review it thoroughly and make the necessary upgrades on your property to meet the Plus qualifications. Keep in mind that follow-up home visits may be done to ensure that your listing always meets the Plus standards.

Related: A Breakdown of Airbnb Host Fees

Step 3: Meet the Qualification Requirements

After you’ve completed the application process, you need to make sure that you meet the Airbnb Plus requirements to obtain and maintain the Plus status. Here are the important Airbnb Plus qualification standards that you should keep in mind:

  • Your property should meet the standard design guidelines.
    • Style standards: Make sure that your space is visually appealing and features artistic designs that will make your guests feel like they are in a splendid accommodation.
    • Comfort standards: Ensure that the property is clean and well-organized and includes all the essentials your guests need during their stay.
    • Hospitality standards: Provide stellar customer service and go the extra mile to make your guests feel at home and exceptionally special.
  • You must adhere to Airbnb’s quality checklist at all times.

Make sure to assess your property constantly and do regular maintenance. Provide basic amenities, such as clean towels and linens. Moreover, ensure that all your appliances, including air conditioners, TVs, and ovens, are working properly.

It’s important to note that Airbnb may revoke your Airbnb Plus designation and privileges at any time if you violate any of Airbnb’s terms and conditions. Your listing may also be removed from the Plus program if you or your property no longer meet the qualification requirements or eligibility criteria. Further, Airbnb may also rescind your Plus classification if you or your listing violates any of the hospitality standards.

Find a property that meets the qualification standards of Airbnb Plus. Use Mashvisor’s investment property search to find the best investment property for short-term rental.

What’s the Difference Between Airbnb Plus vs Superhost?

Technically, both Airbnb Plus hosts and Superhosts are considered the best hosts and own exceptional listings on Airbnb. However, Airbnb Plus hosts essentially go above and beyond when it comes to hosting vacation rental property.

Here are the major differences between Airbnb Plus and Superhost:

  • Application: Airbnb Plus aspirants need to apply (and pay the application fee) to get this classification. On the other hand, the Superhost status is open to all hosts, and you don’t need to apply to be classified as one. Hosts can automatically qualify as Superhost when they meet certain standards.
  • Hospitality: Superhosts are expected to offer a high level of hospitality. However, Airbnb Plus hosts should surpass the expectations and provide guests with the best accommodation. Hosts under the Plus program should welcome guests warmly and provide the most outstanding customer service.
  • Listing: To participate in the Airbnb Plus program, your listing should be spotless, stylishly designed, well-equipped, and should feel like a superior accommodation. To become a Superhost, you only need to meet and maintain the basic property standards.

How to Become a Superhost?

Are you wondering how to get an Airbnb Superhost badge? The process is a lot easier compared to qualifying for an Airbnb Plus classification. All Airbnb owners can automatically qualify for the Superhost status if they can meet the following eligibility criteria over the previous 12 months:

  • Response rate: 90% or higher
  • Cancellation rate: Below 1%
  • Overall review rating:8 or higher
  • Bookings: At least ten trips or three reservations that total to a minimum of 100 nights

You don’t need to submit an application to become an Airbnb Superhost. Every quarter, Airbnb will evaluate your performance for the past 12 months. It covers all the listings on your account. The quarterly assessment is a 5-day period that takes place starting on January 1st, April 1st, July 1st, and October 1st.

You will automatically receive the Superhost Airbnb badge if you meet the qualification criteria by the assessment date. Airbnb will notify you if your status has been upgraded to Superhost, and your Superhost badge will show on your listing within a week.

Related: What Does Superhost Mean on Airbnb? Is It Worth It? 

Benefits of Being an Airbnb Superhost

Being a Superhost on Airbnb means you are one of the top-performing vacation rental owners on the platform. Getting a Superhost badge shown on your listings is an indication that your property is one of the best listings on Airbnb. It is what makes you different from underachievers.

There are tons of benefits that Airbnb Superhosts can enjoy, such as the following:

  • Higher income: You can earn higher Airbnb profits because of more visibility on the platform. In addition, properties owned by Superhosts get higher rankings in Airbnb search results.
  • More bookings: Guests trust the Superhost badge, so Superhosts tend to get more bookings than those who do not have the badge.
  • Exclusive rewards: As a Superhost, you can earn more rewards when you refer new hosts and maintain the status for four consecutive quarters.
  • Better pricing: You can price your listing slightly higher than your non-Superhost counterparts.

Pros and Cons of Having an Airbnb Plus Property

Since hosts need to be invited or apply to qualify for Airbnb Plus, being certified as a Plus host means you and your listing meet the highest-quality standards of Airbnb. When you’re part of the Plus program, you become the cream of the crop among all Airbnb hosts.

Participating in the Airbnb Plus program offers several advantages, including the following:

  • Exclusive Airbnb services: Airbnb Plus hosts receive exclusive services from Airbnb that will help them stand out and earn more. The services include professional photography, professional writing service for listing descriptions, and interior design advice.
  • Higher visibility: Airbnb Plus listings often show in search results first, giving Plus hosts more opportunity to get their properties booked.
  • Priority Airbnb support: Airbnb offers ongoing support and services to help Plus hosts maintain their listing’s quality.

While it may seem enticing to join the Airbnb Plus program, there is a caveat. The only disadvantage of making an Airbnb Plus listing is that you should adhere to its exclusivity requirements. It means that you are only allowed to post your listing and accept reservations through the Airbnb platform or your own website. It is not a big deal if you don’t plan to list your property on other vacation rental platforms.

Find a Profitable Airbnb Property Using Mashvisor

While Airbnb Plus is not open to new Airbnb owners, it would help new vacation rental investors to know what to prepare to qualify for such an elite status. If you’re planning to buy an Airbnb investment property, it’s important to find the one that will most likely meet the Plus standards. Fortunately, you can easily search for the best Airbnb property through Mashvisor.

Related: Investing in an Airbnb Property in 2022: The Complete Guide

Mashvisor’s database contains thousands of properties available for sale. You can search for the right income property based on your preferred location, budget, and property type using the Property Finder tool. But finding the right investment properties should not only end with a search. It’s crucial to get an overview of the property’s Airbnb market data and analysis to ensure that you’re buying a profitable investment.

Airbnb Plus - Mashvisor's Property Finder

Investors can use Mashvisor’s Property Finder tool to search for a profitable Airbnb property based on their preferred location, budget, and property type.

Thankfully, Mashvisor makes it easier for investors to check if an income property will make a good Airbnb investment. Once you find a listing that interests you, you can click on that listing, and you will see a general overview of the property’s market analysis and neighborhood comps. You will see the important figures, such as the property’s cash on cash return, occupancy rate, cap rate, rental income, cash flow, etc.

You can also check how much your potential profit will be based on your custom expenses and financing details using Mashvisor’s Airbnb calculator. In such a way, you will know whether a particular property is worth investing in before you actually spend your time and money on it.

Are you ready to find a profitable investment? Visit Mashvisor to start a free trial or schedule a demo.



Source link

Spread the love

What do you think?

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

8 Best Real Estate Websites To Help You Find The Perfect Home

What is the 50/30/20 Rule for Budgeting?