AIrbnb booking to lease request.
Hi! I recently received my first booking on Airbnb for a 31 day stay. The guest is relocating from out of state and is currently in the market to buy a home. That being said they want to extend their stay with a lease agreement and not through Airbnb. I imagine this route is more cost effective to avoid paying the platform fee. Does anyone have experience with this? My current thought process is to create a month-to-month lease with a security deposit. Should the potential tenant be vetted in addition to the vetting Airbnb does for guests?
I'd still do a background check or income verification of some sort. When we put our house up for Mid-Term in the off season, we always have the tenant fill out a verification application.
There are a million different website that can do it for you including zillow, rentredi, etc.
Hope this helps!
Quote from @Steve Garcia:If the stay is 30 days or more it may actually be subject to long term rental landlord tenant law. That would mean following the laws regarding normal tenants. You should check with a local landlord attorney. It doesn't necessarily make it bad, it just makes it very different.
Hi! I recently received my first booking on Airbnb for a 31 day stay. The guest is relocating from out of state and is currently in the market to buy a home. That being said they want to extend their stay with a lease agreement and not through Airbnb. I imagine this route is more cost effective to avoid paying the platform fee. Does anyone have experience with this? My current thought process is to create a month-to-month lease with a security deposit. Should the potential tenant be vetted in addition to the vetting Airbnb does for guests?
@Kyle Momany and @Mike Hern thanks for the advice! I have the home listed on Furnished Finder as well so I have access to KeyCheck for the screening process.
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#5 Medium-Term Rentals Contributor
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I'm confused. You said they want to "extend their stay." Are they already in one of your units? Or are they looking to extend a booking already placed but not yet executed?
They booked a 31 day stay via Airbnb and are currently in the unit. They want to extend, but prefer to do so by signing a lease with me directly vs Airbnb. I am assuming to save cost from the platform fee. They are house hunting now so they will need more time than what they currently booked for.
Quote from @Steve Garcia:
Hi! I recently received my first booking on Airbnb for a 31 day stay. The guest is relocating from out of state and is currently in the market to buy a home. That being said they want to extend their stay with a lease agreement and not through Airbnb. I imagine this route is more cost effective to avoid paying the platform fee. Does anyone have experience with this? My current thought process is to create a month-to-month lease with a security deposit. Should the potential tenant be vetted in addition to the vetting Airbnb does for guests?
Personally I like staying on platform so I know they'll pay me and have Aircover just in case. Also make sure you do not message them on Airbnb to discuss renting off Airbnb. You'll get blocked and delisted on Airbnb.
- Conner Olsen with The Moorhead Team
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@Conner Olsen thanks as always!
It is understandable that you would want to explore other options to make sure your guest can continue their stay with a lease agreement and save on the Airbnb platform fees.
However, I agree with the other commentators. It is definitely important to vet potential tenants in addition to what Airbnb does for its guests. This could include conducting a background check, financial history, reviewing credit reports, and ensuring references are valid.
Creating a month-to-month lease with a security deposit is a great option as it allows flexibility for both parties. Depending on the state you live in and the specific terms of the lease agreement, you may need to give 30 days notice before ending or terminating the lease agreement.
