A Host of New Features
Airbnb (ABNB) is addressing the elephant in the room(s).
Although it remains popular, Airbnb has received its fair share of criticism. Common guest complaints include hefty hidden fees and long lists of chores required when checking out. The company is listening and responding to customer feedback with four new features set to roll out this summer:
• “Airbnb Rooms”: allows guests to book individual rooms, in select homes, at lower rates.
• “Host Passport”: provides guests with more information about their host, such as their interests, background, and the language(s) they speak.
• Transparent pricing: discloses all fees in the initial price of the booking.
• Responsibility list: clearly defines checkout expectations for guests — so they can factor that into their booking decision.
On top of these features, Airbnb is committed to faster customer service, and plans to provide a credit if a host cancels within 30 days of the planned arrival date.
When Airbnb first launched, it was viewed as a less expensive alternative to hotels. But, since the platform’s subsequent explosion in popularity, average prices have increased substantially.
The app is no longer solely a platform for homeowners to make passive income from short-term rentals of their property. It’s now overrun by professional hosts operating multiple Airbnb rentals full-time. With hosts looking to maximize profitability, some have even pushed cleaning responsibilities onto guests while still charging a cleaning fee.
Industry experts expect this summer to be one of the busiest travel seasons of the past few years. With these new features, Airbnb aims to swing the pendulum back in its favor when it comes time for travelers to book.
If you’re planning a trip this summer, it’s worth noting that Airbnb will soon provide customers much more transparency when booking. And while the changes won’t necessarily get you off the hook for washing the dishes come checkout, you’ll have a better idea of what to expect from your stay ahead of time.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.