If you are considering renting out your home on Airbnb to generate additional income, it is essential to take steps to protect your property from potential damage and theft. A seasonal rental sees dozens of people passing through it all year round. If overall you have nothing to fear and the tenants are respectful of the premises, problems can arise. Improper use of equipment which leads to breakage, inattention, overzealous pets, etc. are all sources of breakage or damage to the home. As for flights, unfortunately, they can also arrive in Airbnb rentals. Mostly inadvertently but sometimes also out of simple opportunism. François, director of our concierge agencies in Martinique Today we invite you to share our best practical advice for ensuring the security of your Airbnb rental and protecting yourself against the risks associated with seasonal rentals.
Understanding the risks of damage and theft on Airbnb
Before you start renting your home on Airbnb, it is important to understand the risks you may face. Although the platform offers some protection to hosts through its Host Guarantee, there are still limitations to this coverage. The Airbnb Host Guarantee provides protection of up to US$3 million in the event of damage, but it does not cover all types of damage and theft.
For example, the host guarantee does not cover damage caused by normal wear and tear of the accommodation, losses due to natural disasters, bodily injury or property damage suffered by guests or third parties, cleaning costs and normal maintenance accommodation… For more information on the protection automatically provided by Airbnb, we invite you to consult this help page: Host damage guarantee – Airbnb Help.
Setting up an Airbnb deposit
One of the most effective measures to protect against damage and theft on Airbnb is to ask your tenants for a deposit. The deposit is a sum of money that tenants must pay before their arrival and which is returned to them at the end of their stay if no damage has been noted. This deposit can be used to cover repair or replacement costs in the event of damage.
To set up an Airbnb deposit, you must indicate the deposit amount in your listing's pricing settings. It is recommended to set a reasonable amount which covers possible damage without deterring potential tenants. You can also specify the conditions for returning the deposit in the house rules, such as checking the condition of the accommodation before the tenant leaves.
Determining the Airbnb deposit amount
The Airbnb deposit amount depends on several factors. It is recommended to take into account the value of the goods present in the accommodation, the potential cost of repairs in the event of damage, as well as the average rate of deposits for similar accommodations in the same region. You can also review Airbnb's security deposit policies and do some market research to see how other hosts set their security deposits.
It is important to note that the amount of the deposit must be reasonable so as not to deter potential tenants. Setting a deposit that is too high can make your ad less attractive and reduce your chances of finding tenants. Conversely, if it is too low, it would not cover costs linked to damage. It must therefore be a happy medium, an acceptable compromise for you and the tenant.
Indicate the Airbnb deposit in your ad
Once you've determined the Airbnb deposit amount, you need to state it clearly in your listing. This will let potential tenants know that a deposit is required and how much they will need to pay before their stay.
To indicate the deposit in your listing, you need to go to your listing's pricing settings on Airbnb. You will find a section dedicated to the deposit where you can specify the amount. Be sure to double-check the information before posting your ad to avoid confusion with potential tenants.
Return of Airbnb deposit
The Airbnb deposit is generally returned at the end of the stay, except in the event of damage noted. If no damage has been noted, Airbnb will automatically release the deposit 14 days after the tenant's departure. However, if damage has been found, you must provide clear evidence, such as photos or invoices, to justify withholding the deposit.
It is important to communicate with the tenant via the Airbnb platform to resolve any dispute regarding the return of the deposit. Airbnb acts as a mediator to ensure the process is fair for both parties and does not allow deposit payments outside of its resolution center to avoid abuse on either the owners' or tenants' side.
Note that the deposit is not actually “paid” by the tenant at the time of their stay. Airbnb queries the latter's bank and only requests a transaction when the dispute arises. There is therefore no return of the deposit in itself, the sum concerned having, in itself, not left the tenant's bank account.
Other safety measures to take on Airbnb
In addition to asking your tenants for a deposit, there are other steps you can take to keep your Airbnb rental secure:
- Secure access : Make sure the doors and windows in your home are secure. Install sturdy locks and security systems if necessary.
- Install surveillance cameras : Surveillance cameras can deter potential thieves and provide you with evidence in the event of theft or damage. NB: the installation of cameras inside the accommodation must be brought to the attention of tenants. This is also not recommended, many travelers refuse such practices.
- Protect valuables : Do not leave valuable objects in view of tenants. You can store them in a safe place or remove them during the rental period.
- Verify the identity of tenants : Use Airbnb's identity verification tools to ensure renters are reliable and trustworthy.
- Establish clear rules : Define clear rules for the use of your accommodation and communicate them to tenants before their arrival. This may include rules regarding pets, smoking, parties, etc.
Renting out your home on Airbnb can be a great source of income, but it's important to take steps to protect your property from potential damage and theft. By setting up an Airbnb deposit, taking extra security measures, and communicating clearly with your renters, you can minimize risks and enjoy a stress-free rental experience.
