Selling your fantastic Airbnb rental?

Answered!

Selling your fantastic Airbnb rental?

Greetings Airbnb Hosts - We are selling our multiplex (4 rentals) in Bend, Oregon to relocate to Boise, Idaho (for multiple reasons) where we will be continuing as Airbnb Hosts with some new properties. If you are selling your rental/s and you depend on Airbnb as one of your booking platforms there are some things you should be aware of. As I understand it, you cannot transfer any information on your profile or listings to someone elses profile or listings on any of the home/vacation rental portals. Listing details, calendars, and reservations all go away when the property changes ownership.

 

The good news is that all of your profile details including your reviews and stats stay with you. So all that hard work you did to become an amazing host moves with you.

 

So what do you do to help make sure your guests keep thier reservations with the new owners?

In the case of Airbnb, they will cancel all reservations when the property changes ownership with instructions on how to make new reservations with the new owners. The new owners must have thier listings ready to go and work with Airbnb so they can accept the new (previously cancelled) reservations. They should be willing to keep the same rates as the current reservation or risk losing future income so its best to provide a list of reservations with the rates the guest agreed to for the new owners.

To go a step further, when you sell, reach out to your guests beofre the ownership transfer. Let them know what's coming. Make sure you have thier current contact information like the best phone number and email address so you can provide that information to the new owners so they can reach out and help with making a new reservation.

I searched for information about this process and apparently it doesn't happen too often, or if it does, there's no clear explanation of the step-by-step process. Are we the first ones to go through this process? Sure seems that way but if anyone has actually gone though this process please add you experience to this thread and tell us how it went.


Remember to give a thumbs up if this information is helpful.

Cheers - Stan

1 Best Answer
Trish159
Level 2
Kanab, UT

Hi Everyone,

 

This has been a good (enlightening) thread. I came here today because I just decided this morning to sell my house and thought Airbnb would have a place for interested buyers and sellers to find each other. To me, that would only make sense. But alas...

 

Thanks, Stan and Jan for negotiating your way through this thicket, coming out the other end, and sharing your insights with us all. I hope Airbnb gets some of this info out where everyone can find it. 

 

Trish

View Best Answer in original post

54 Replies 54
Helga0
Level 10
Quimper, France

No experience on that, but did you consider listing the new owner as a cohost for the remaining bookings? With payout to him, all unbooked dates blocked and he sets up new listings with the open dates? The guests could write recommendations to the new listing instead of reviews to your old one, so he profits from the stays. 

Hi Helga - We'll have to think about that option. We wanted to make a clean break from the property at closing to eliminate any liabilities or responsibilities but that might work. Thanks for the suggestion.

Stan

Greetings Stan and Jan,

I know this post is old but maybe you are still around .

My wife and. I have been doing some research in regards to selling my home in Temecul that runs as an Airbnb..  I see you sold your so just wanted to know if you had any suggestions as to finding investors? Or did you just list it on the MLS with details regarding Airbnb income potential ? Wating to sell fullly furnished as well.. if you have any suggestions would greatly appreciate it..

 

Best regards..

 

R. vand e Water

Hi Rick and Laura - Thanks for the questions. I sent you a private message with some advice on selling and also tax liability.  Good luck!
Stan

Hi Stan and Jan,

 

I have the same questions as Rick and Laura. You are probably tired of this subject by now but if you could send me the same info I'd really appreciate it. If not, I get it. I hope your move turned out well for you 🙂

 

Trish

Hi Trish - Sorry for the delay. We chose to sell our property as a fully furnished (with a few exclusions) turn-key Airbnb which included the past rental income as part of the valuation. We did list the property with a realtor but didn't publish the MLS listing that way for a variety of reasons. The realtor marketed the property to qualified cash buyers only. It is a pretty technical real estate sale so I would not recommend trying it on your own.  We had a successful and profitable sale.

We relocated to Boise, Idaho and are now operating a beautifully renovated 1939 triplex. Here's a link to two of the 3 guest suites after renovation.
https://www.airbnb.com/rooms/30539400?s=67&shared_item_type=1&virality_entry_point=1&sharer_id=43568...

 

https://www.airbnb.com/rooms/19710818?s=67&shared_item_type=1&virality_entry_point=1&sharer_id=43568...

 

Hope this helps and good luck.

Hello - curious why you felt you needed cash buyers only and what was so technical about it compared to a regular investment property with full-time tenants.

 

We are on the market now in Rockridge a very trendy area of Oakland, CA after 11 years of great success and not attracting the right buyer yet.

 

Thanks,

 

Michelle

Hi Rick and Laura, 

 

I would appreciate your sale experience and pointers as well.  Best wishes!!!

Hi Helga - We don't have co-hosting in our area yet. Otherwise that might have worked for everything except payouts.

Thanks for the idea.

Stan

I thought co-hosting is a feature of the general airbnb website. Available from your profile, on a computer.

Different payout methods can be defined and applied to different bookings. 

 

It would be complicated to set up, and you'd be in a closer relationship for the transit period than you'd like with a buyer (but then, if you sell a company, you may agree to that anyway), but still better than cancelling many bookings. 

 

How did that work for you? Did airbnb give you a waiver on any penalties and help you both to transfer the bookings from you to the buyer or were you left alone to convince them to stick with the place, if not with the host?

You brought up an intersting case 😉

Hi Helga - Apparently co-hosting is not available everywhere for everybody. They have it running in select areas to see how it goes.

 

There are no penalties to us for the cancellations in the case of selling the property. I believe Airbnb does the cancelling and facilitates the new reservations/rebooking with the new owner. I am trying to reach out to someone at Airbnb who actually knows the process and how it works. It is in thier best interest to do whatever they can to assist to maintain the bookings.

We will be reaching out to the guests in advance to let them know what they can expect and make sure the new owners have a list of reservations so they can be proactive. There is no way to guarantee the new owners that the guests will definitley rebook with them but I suspect most, if not all will. That's about all we can do.

 

Thanks,

Stan

@Stan-and-Jan0

you might post about it in the Host Voice section. 

As Airbnb grows and as they have many commercial hosts, it's resonable to expect, that sooner or later people will sell their commerce and will want to sell it with the clientele, like a restaurant, a hairdresser or a doctor. The business part of a hotel may be worth more than the walls. 

It's in Airbnb's interest to find a procedure for such a transfer.

In the host voice chapter, you post proposals for procedures or features and hosts, who like it, enforce the proposition. If Airbnb sees profit in it, they implement it. 

 

In your case, you look for a way to sell a property with it's airbnb history or at least with it's already started airbnb bookings. 

Thinking about it (bored in my holidays), I'd deem profitable for all to be able to sell a property with the open bookings, clone the listing, for the new host, who may adapt it after he made the changes, indicate above the cloned reviews, that they occured with another host, but at the same place and send an automatic mail to all booked guests, that the property management changes. I suppose that legally they need to have an opt out of their reservation, if the host changes. 

 

Long before Airbnb, we listed on other websites, sometimes for others and most had clauses, that you could not transfer a listing, any change of owner (even a succession after a death) terminated the paid ad with no refund for the remaining period. that was pretty annoying and clearly intended to sell another advertisement. As Airbnb does not charge for the listing being online, they could handle it differently.

Hi Helga - Thanks for the ideas and comments. I agree with you. It would benefit all in onvolved if Airbnb had a streamlined procedure for this transferring reservations etc. Do you have a link for the Host Voice section?

 

Thanks, Stan

 

If you are on a computer, it's on top, rather in the middle, under Discuss.

On the phone, it's on top on the left side, in the black drop down part.

https://community.withairbnb.com/t5/Host-Voice/idb-p/host-voice