Question about the possibility and profitability of hosting weddings???

[Linda36]

Hello, I'm an airbnb host with an ideal location for hosting events, weddings, garden parties etc. My question is regarding how one would format that type of offering through airbnb, regarding pricing and ofcourse the profitabilty of doing so. Any feedback would be appreciated. I'm currently having some difficulty reaching fellow hosts directly, any advice on how to do that? I'm new to airbnb. Thanks!

Linda Gibson

Hudson Riverview Property

Hudson, NY 

[Monica4]

Make sure that your "suitable for events" option is on under your listing. I often have my listing booked for weddings. One thing that is very important is that ONE person needs to be in charge of the event, if you are not around. That person needs to be the one making the booking and must be part of the event held at your listing. From past experience I can tell you that these events can get out of hand....and you may find many more people there than those that were paid for, and also have the possibility of a huge mess to clean up. However, with a security deposit and a clear message to the person making the booking that they are the person reponsible for the use/misuse of the property you should be fine.

[Linda36]

Thank you Monica, I appreciate the tips! I plan to be onsite, both incharge and available. Do you book mostly weekend events and is there a discount for midweek event use? Do you find that airbnb is popular enough to get you booked every weekend? I was hoping to book about 8 weddings a year in order to make this profitable. I'm open to garden parties, family reunions etc also. Do you charge different prices for the different events or one price for the use of grounds? What can I expect to charge for a big event btw? Wondering if I can make this a full time business... I currently advertise 2 properties on airbnb. I'm new to this and it's taking off quickly over the past few winter months. I expect Spring/Summer to get booked solid, hoping at least!

[Monica4]

I cannot tell you what to charge. You will have to check around your area. I charge the same rate for events as for overnight stays, and I do not change rates for weekends. My only increases are for the week of our local county fair and for the Christmas holidays. I find that keeping the rate the same keeps everything transparent for guests because I have repeat guests and they know what renting my listing will cost them.

I guess that about 20% of my events guests are booked through Airbnb....the rest come from me visiting churches, funeral homes, curling rinks, ice skating rinks, our local gym and all the restaurants in my area. They all have my business cards. That is where the best bookings come from.  I am in a small community and I feel more secure renting to local people because here in my community people still want to keep their "good name".....if you know what I mean.

[Monica4]

One thing I forgot to mention is that if you advertise the way I do, you will need to be licensed. An established B&B or hotel may take offense and have you reported to the local tourism office. It happened to me so I did all the paperwork to comply, have the inspector visit, pay the lodging tax and now everything is good.

[Linda36]

One of my listings is in a town that requires permits and fire code inspection, which I've complied with. The other listing is rural and listed only on airbnb, no town permit necessary on that one.  Airbnb now reports to the IRS so the tax piece is more straightforward as well. 

Thx

[Kimberly812]

Hello,

Great response! How did you determine the value of your Airbnb for weddings? Just the venue itself. 

Thanks so much!

Kim 

[Rick-and-Ann0]

Just came across your post here about hosting weddings.  I have a small country apartment and a large barn that I'm hosting a few weddings at this year.  I have run into difficulty insuring the wedding venue because my main residence is sharing the property.  I'm curious to know if Airbnb's insurance policy would cover the event and the event guests?  Anyone know?

[Alice-and-Jeff0]

@Rick-and-Ann0 - no it does not. It covers the booking guest and your approved overnight guests as identified on the booking, not all the random folks invited for an event.  You'll need to get event insurance and you'll want to talk to your insurance professional about an umbrella policy for protecting you personally from lawsuits as well as getting business insurance to cover your buildings. 

[Rick-and-Ann0]

Ok, thank you for your input.  That's what I thought, but was hoping to find some good news.  My homeowners insurance is going to skyrocket and I'm just not sure it's worth it.