‘Short-term rental’ is the keyword that has gained a sudden popularity after the CoVID19 introduced a culture of work-from-home, work-from-anywhere, and workation. Gone are the days of the expensive hotel rooms, heavy taxes, and other charges which the travelers incurred. Travel and most importantly affordable stays have become the a much profitable industry. According to a study, short-term rental industry is supposed to reach to USD 315 billion by the end of 2033.

Source:

https://www.precedenceresearch.com/short-term-rental-market

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With the rise in this industry, there has been a heavy need for the platforms that connet the home owners to the travelers. Enter the apps like Airbnb where travelers are able to find the homes for short-term stays which fits their various parameters. On the platforms like these, travelers are able to find the budgeted, lavish, mid-sized, pet-firendly, and other homes which they can rent out for a short-period of their stay. These homes come equipped with all the necessary amenities and that too without any added cost which otherwise would have had an added cost in a traditional hotel or bed and breakfast.

With the rise of such platforms and mobile apps, many entrepreneurs are jumping to get a piece of cake and make a good fortune similar to how Airbnb has made. As a top mobile app development company, we felt that its our responsibility to provide a guidance to our future clients an idea of how much is the cost of developing app like Airbnb?**

Ideally, the cost of developing an app like Airbnb cost between 25,000 to 45,000 USD.

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Features of an app like Airbnb

For Traveler's

Search and Booking


  - Search for rentals by location, date, price, and amenities (e.g., number of bedrooms, wifi, washer/dryer)

  - Filter and sort listings based on various criteria

  - View detailed descriptions, photos, and virtual tours of rentals

  - Secure booking system with integrated payment gateway

  - Manage reservations and bookings









Communication


  - In-app chat for secure communication with hosts before, during, and after stays

  - Ability to send and receive booking inquiries









Trip Planning


  - Save favorite listings for later reference

  - Invite friends to collaborate on trip planning









Trust and Safety


  - Secure payment processing

  - Verified user profiles with reviews and ratings

  - Host cancellation policy information

  - 24/7 customer support

For Hosts

Listing Management


  - Create and edit listings with detailed descriptions, high-quality photos, and virtual tours

  - Set pricing and availability for rentals

  - Manage reservation calendar and booking requests

  - Communicate with potential and confirmed guests through in-app chat









Guest Screening


  - Review guest profiles and reviews before approving bookings

  - Set up house rules and expectations for guests









Payment Management


  - Track earnings and receive payouts securely

  - Manage payouts and set preferred payment methods









Security and Tools


  - Secure access to manage listings and bookings

  - Damage protection options

  - Tools and resources for managing rentals effectively

These are the ideal features which needs to be included in any short-term rental booking app like Airbnb. The exact list of the features can be discussed with the mobile app development agency you choose.

Connect today with Airbnb app development experts today?Contact Nimblechapps **Contact us **

Monetization strategies for an app like Airbnb

Every entrepreneur enters the app development market with a view to make profit and earn from the vision they have presented to the world. No one does it for free. Striking a perfect balance between the monetization strategies is a much needed thing if one wants the app to succeed amongst the competition. Based on the experience we have, here are some of the monetization strategies which can be implemented while developing an app like Airbnb.

1. Transaction Fees**

This is the bread and butter of most rental platforms. You can charge a percentage (typically 2-3%) of the total booking value from either guests or hosts, or even both.

2. Subscription Model

Offer optional premium subscriptions for hosts or guests with added benefits. For hosts, this could include increased listing visibility, priority booking requests, or analytics tools. Guests might benefit from discounts, travel insurance options, or priority customer support.

3. Listing Fees

You can charge a one-time or recurring fee for hosts to list their properties on your platform. This can be a flat fee or tiered based on listing type or location.

4. Featured Listings

Allow hosts to pay a premium to have their listings featured at the top of search results or on the app's homepage. This increases visibility and can lead to more bookings.

5. Value-Added Services

Partner with local businesses to offer additional services like airport transfers, activity bookings, or cleaning services. You can charge a commission on bookings made through your platform.

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Cost of developing app like Airbnb

Usually, the cost of developing an app like Airbnb cost between 25,000 to 45,000 USD**. However, the actual cost depends on various parameters. Let’s explore some of the parameters in detail.

1. Location of the app development company

The development company’s location affects the most in calculating the cost of Airbnb, like App Development. Hourly wages are different across regions, and opting for a custom app development company in India could result in roughly 1/4th of the cost compared to what you might spend with a company in the USA, the UK, or any other region.

2. Features of the App

The Airbnb-like app development cost also depends on the features you choose to include in your app.  An app with features mentioned above will cost between 25,000 USD to 45,000 USD.

3. Technology Stack

The tech-stack chosen for Airbnb app development, will also affect the cost of development. Native platforms with Kotlin and Swift development will cost more compared to the cross-platform technologies like React Native, Flutter, Angular and so on. You should choose your technology wisely.

Conclusion

Airbnb has revolutionized the travel industry, making it the go-to platform for booking unique stays around the world. Just like Airbnb transformed hospitality, your innovative vacation rental app has the potential to disrupt the market. This blog post serves as your guide, outlining the features to include, monetization strategies to consider, and a ballpark figure for development costs. With careful planning and a robust mobile app development, you can create a strong presence in the ever-growing short-term rental landscape. Imagine the possibilities - happy renting, happy hosting!