With the advent of vacation rental platforms, new ways to travel have emerged, as have new modes of accommodation and rental. After the seasonal rental, popularized by AirBNB, discover everything you need to know about the monthly rental, a clever compromise between permanent accommodation and a seasonal rental, presented by our Lyon concierge.
Monthly rental, a recent concept at AirBNB
Monthly rental has developed very rapidly in recent years, especially with the Covid-19 pandemic which paralyzed the world and which has profoundly changed things, especially with the rise of telework, which very quickly became hyper- popular in the working world. Some professions even encourage permanent telework with the possibility of working entirely from home. “Teleworking has changed a lot of things, explains Anthony Quang, director of our Lyon concierge. Many people take the opportunity to travel around the world, settle in one place for a few weeks and then work remotely, before resuming their journey.
AirBNB adapted very quickly to this new way of life and has been offering a long-term rental service since 2020, available from 28 days. The vacation rental site has fully integrated the monthly operation of its accommodations, offering discounts, taxes and appropriate cancellation policies. As Anthony Quang, director of our concierge in Lyon, “AirBNB felt the right move and adapted very quickly. AirBNB long-term rental has also become very popular quite quickly”. Monthly rentals have a number of advantages, both for owners and tenants.
The benefits of monthly rentals on AirBNB
If you are a landlord, AirBNB long-term rental can be very advantageous. Indeed, you can accommodate students or workers over a long period, and you will be guaranteed to see your property occupied for several weeks, even several months. "You can, for example, receive a student from September to June, and rent your accommodation during the summer before taking on a person for a long term", explains Anthony Quang, director of our Lyon concierge service. This guarantees you high and regular rental income while ensuring a lot of tranquility for a large part of the year.
Conversely, if you are a tenant, a monthly rental is very interesting for you. First, a furnished apartment is much more pleasant and comfortable than a hotel room, in addition to being cheaper because it offers suitable rates. The accommodation offered is generally ready to receive workers, with in particular workspaces and high-speed Internet connections. You also benefit from advantages specific to AirBNB such as online assistance, traveler insurance and access to a community of trusted travelers. In addition, everything is done online and guarantees you great flexibility.
The specifics of AirBNB long-term rental that you need to know
Monthly rental: watch the rates
If you want to rent a property on AirBNB on a monthly basis, you have to take into account several elements. In terms of the price, you must ensure that the AirBNB long-term rental is really advantageous and offers a real reduction adapted to the number of days during which you reserve. Of course, you're never safe from a host inflating prices to attract bookings with a big discount on the line, with some accommodations offering up to 80% off for monthly rentals. It's up to you to be vigilant so as not to be fooled.
High service charges for monthly rentals
You should also take into account that the service fees and other taxes related to AirBNB may increase significantly depending on the length of your stay. This is a parameter to take into account before committing to a long-term and monthly rental. The same goes for the tourist tax, which you risk seeing a significant increase, as well as the cleaning costs, which may also be adjusted according to the number of days during which you will be present in the accommodation.
Long-term rental: what you need to know legally
From a legal point of view, it must be taken into account that you will not necessarily have a lease to sign apart from your AirBNB reservation. However, if this is the case, your host will have to let you know before confirming your reservation. Also note that unlike most short-term stays, you will not have to pay for your entire stay if you stay for several months. You will only have to pay the first month as a deposit, before paying your other rents on a monthly basis, as in a traditional rental lease.
Long stays up sharply on AirBNB
At the start of 2022, AirBNB unveiled results in which we learned that long-term stays were experiencing the strongest growth. Indeed, monthly rentals thus represented 21% of overnight stays compared to 13% in 2019. A trend also observed on French territory where this type of reservation increased “by more than 50% in 2021 compared to 2019” specified the platform. "Families and working people who can work remotely are the main customers who opt for long stays, especially in medium-sized cities," explains Anthony Quang, director of our Lyon concierge service.
In France, the phenomenon has also greatly developed following the Covid-19 pandemic. The results of the platform clearly show the change in the travel habits of the French who are moving more towards longer rentals in medium-sized towns, but also in rural areas. “At the start of the pandemic, customers preferred to travel to non-urban destinations close to home,” explains Anthony Quang, director of our Lyon concierge. In France, stays in rural areas increased by almost 50% in 2021 compared to 2019.
The mobility lease, another solution for long-term rental
Introduced by the ELAN Law in 2018, the mobility lease is a medium-term furnished rental contract, from 1 month minimum to 10 months maximum, intended to facilitate access to housing for people in a situation of mobility. On the other hand, if the same tenant wishes to stay in the furnished accommodation at the end of the mobility lease, the new lease that may be offered to him will necessarily be a “classic” furnished rental lease. "The mobility lease is an interesting solution for an intermediate rental", explains Anthony Quang, director of our concierge service in Lyon.
AirBNB is making it easier to host long-term rentals on its platform, introducing several new tools to give hosts the ability to offer accommodations for monthly rentals. However, AirBNB long-term rentals represent a serious commitment for hosts. However, if done correctly, making your rental property available for longer periods can be a great opportunity. These rentals are therefore advantageous for everyone and offer a very interesting alternative to traditional seasonal rentals.
