Beginner's Guide
For property owners in Bulgaria who rent out or plan to rent out an apartment on the Airbnb platform, it is essential to be well acquainted with both the basic terms used on the platform and the terms and conditions for posting a home . We've put together a quick guide that will walk you through the most important things a host needs to know before listing their property on Airbnb and give you some helpful tips for successfully listing your property.
Basic terms every Airbnb user should know:
- Listing /Announcement/: A detailed description of the property, including photos, amenities, policies and pricing, that potential guests can view before booking.
- Host Guarantee: Airbnb's insurance program that provides compensation up to a certain amount for damage caused by guests to the property.
- Superhost: Hosts who consistently provide a positive guest experience (as measured by positive guest reviews and ratings) and meet certain criteria established by Airbnb. Super hosts have access to exclusive benefits.
- Instant Book: A feature that allows guests to book a property without prior approval, streamlining the booking process and increasing booking efficiency.
- Cleaning fee: Additional charges established by hosts to cover cleaning costs associated with preparing the property for the next guest.
- House Rules: Guidelines established by hosts that set expectations for guests, including smoking policies, pets, noise levels, and check-in/check-out hours.
- Cancellation Policy: The conditions under which guests can cancel their reservation and receive a refund range from flexible to strict policies.
Airbnb's most important terms and conditions for property owners:
- Rules for declaring the property: Hosts must provide accurate information about their property in the listing description, including number of bedrooms, bathrooms, fixtures and amenities.
- Cleanliness and maintenance standards: The property must be provided to guests in a clean and well-maintained condition. Hosts must provide necessary cleaning between bookings.
- Transparent pricing: The rental prices of the property, fees and services included in the price must be clearly stated in the advertisement.
- Cancellation policy: Hosts should specify their cancellation policy, including refund terms for guests upon cancellation.
- Compliance with local laws and regulations: Hosts are responsible for complying with all local rental property laws and regulations, including tax obligations and permitted business rules.
- Communication with guests: Hosts must maintain clear and effective communication with guests, responding to their inquiries and providing necessary information about the reservation and stay.
- Accommodation and maintenance conditions: Hosts must specify the terms and conditions for guests' accommodation, including check-in and check-out times, rules for use of common areas and other important instructions for the stay.
- Liability and Insurance: Hosts should understand their responsibilities and insurance coverage when renting out their properties, including coverage for damages and violations.
- Compliance with the Code of Conduct: Airbnb has a specific code of conduct that hosts must follow, including treating guests with respect, following community rules, and providing a safe and enjoyable environment for all.
Advice from experts who rent through Airbnb:
- Create an attractive ad: Present your property in an attractive way and with detailed photos so as to highlight the unique features of your property and show it in its best light to attract maximum interest from potential guests.
- Pricing Strategy: Research the market regularly to establish competitive rates and take advantage of the possibility of price changes depending on demand, season and special events near your property location.
- Effective communication: Maintain clear and timely communication with guests by responding to inquiries, providing information and ensuring a smooth process from booking, through check-in, to check-out to build trust and positive guest feedback.
- Offer added value: Think outside the box and offer your guests ideas/opportunities for additional experiences during their stay in your home or a special compliment – breakfast, souvenir and the like.
- Explore the benefits of partnering with a property management company: If you do not have the time and resources to manage the entire process yourself, you can delegate everything to a specialized agency/company, such as Flat Manager, which handles everything for you – creation and management of listing and pricing strategy, reservation management, 24/7 communication with guests, reception, dispatch, cleaning, maintenance, as well as administrative and tax commitments, according to the relevant legal requirements.
