Airbnb Philadelphia Monthly (2024)

FAQs

Is Airbnb worth monthly? ›

Airbnb is a valuable resource for many types of travelers, but it can be especially valuable for those looking for long-term stays. Booking a monthly rental on Airbnb can save significant amounts of money over shorter-term bookings, but it may still cost more than using a local resource.

Many Airbnbs offer discounted rates for monthlong and weeklong stays. Airbnb also has a separate search portal specifically for sublets. We break down key info on booking long-term Airbnbs, including fee and cancellation policies.

You don't need to worry anymore. Airbtics confirms that investing in an Airbnb property in Philadelphia is lucrative. In fact, this city is one of the top Airbnb cities in the USA where you can earn a monthly revenue of $2,000+!

Start with the basics

At a minimum, guests expect a clean, comfortable sleeping area and access to a restroom. Not all places listed on Airbnb have access to a kitchen, but if your guests have access to one, indicate whether it's a full kitchen or a kitchenette.

Airbnb doesn't allow properties to be rented out for more than 90 nights per year. If your limit for bookings is reached, Airbnb will automatically close your property until the end of the calendar year. In addition to 90 consecutive days, the 90-day limit also applies to 90 days spread throughout the year.

Discounted monthly pricing and deferred payments

Guests staying for 28 nights or longer are able to pay for their stay on a monthly basis. Find out more about paying for your monthly stay.

Payments for stays longer than 28 nights or longer work in a different way. Airbnb automatically collects from guests 1 month upfront and at the beginning of each 30 day period. Learn more about payouts for monthly stays. Stays longer than 28 nights and longer are subject to your chosen long-term cancellation policy.

Step 2: Click on the "Pricing" tab from the top menu. Step 3: In the "Discounts" section, choose "Edit". Step 4: Below the weekly and monthy discount boxes, you will see a sentence stating, "You can also set a custom price for a specific week or month.". The "week" and "month" are links which will open a popup screen.

Rental and property licenses

You need a license to rent your property as short-term rental: You need a Limited Lodging Operator License if you have a limited lodging use. You need a Rental License with a hotel designation if you have a visitor accommodation use.

How to start Airbnb in Philly? ›

Occupancy Rate

Occupancy Rates in Philadelphia County are the highest in the summer. The Occupancy Rate at an annual level is 37%. The lowest occupancy rate was in February (23%) and the highest was in September (51%). Drop-in occupancy rates in February of 2021 can be partially explained by a surge in COVID cases.

For Airbnb hosts looking to make a living on the hospitality platform, full apartment rentals are the way to go. Rates for full apartments are significantly higher than those for single rooms and income after expenses ranged from $15,000 to $31,000 in our analysis.

The profitability of Airbnb rentals depends on various factors such as location, property type, market demand, pricing strategy, and operating costs. In some areas and circ*mstances, Airbnb rentals can be profitable, while in others, they may not be as lucrative.

Expenses May Be Higher

You'll only need to step in to perform property maintenance or handle the occasional emergency. An Airbnb property is likely to be more work-intensive because it will fall on you, the owner, to ensure that it is in tip-top shape all the time.

Investing in Airbnb can be an excellent source of passive investment income and is a great option for a beginner investor. But please keep in mind that not all real estate investment properties are Airbnb investments. There is a big difference between the two.

How much can you make as a co-host? Co-hosts earn about 10-20% per booking. For example, if you co-host an Airbnb that earns $30,000 per year, you can expect to earn roughly $3,000-$6,000. If you take on extra duties and essentially take care of the entire process, you could earn as much as 25% per booking.

1. Higher Potential Returns. Airbnb rentals often have the potential for higher short-term rental income compared to traditional long-term leases. The flexibility to adjust pricing based on demand allows hosts to capitalize on peak seasons and events.