Renting an apartment has become a popular trend for travelers worldwide, thanks to Airbnb. Airbnb had a tremendous success journey from a one-page website to an internationally known company valued at $113B. So, different global companies want to replicate their success and learn how to build a website like Airbnb.
We will outline the development process and its components to familiarize businesses with the Airbnb website.
What is Airbnb: History and Success Statistics
The brains behind this crazy new idea of Airbnb were two mates – Joe Gebbia and Brian Chesky- in 2007 in San Francisco. They didn’t have enough money to pay for the rent. So they decided to convert their loft into a “Bed and Breakfast” opportunity by adding air mattresses and breakfast assurance for the guests the next day.
The founders created a website overnight, airbedandbreakfast.com, with a considerable boost from those who had attended one of the most prominent Design conferences in San Francisco. They knew they could pull this off because it was evident that the people who participated in the conference would find it difficult to find a place to stay for the night.
After the first good experience, Gebbia and Chesky thought they could be onto something, which could be a life-changing idea. However, this was just the beginning of the long-term business journey.
Despite the many obstacles that came their way, Airbnb continued to rise steadily each year. Companies can learn about this growth from the following statistics.
Building a marketplace like Airbnb?
Distinctive Characteristics of Airbnb Website
Airbnb is a classic marketplace that mediators between two users – travelers and apartment owners. If real estate companies dream of building a website like Airbnb, they should determine their Airbnb-like website’s core features.
Let’s look at the critical elements of Airbnb’s online platform.
Peer-To-Peer Marketplace Type
Airbnb helps many users find a suitable supplier or offer their services to the relevant audience. The users can be both individuals and businesses.
The primary distinction between online message boards, such as Craigslist, and the Airbnb marketplace is that the boards provide users with the information while services like Airbnb help solve the issue.
In the case of listings, users must find a suitable offer. However, with the Airbnb platform, companies choose from the existing lists. That’s why geolocation plays an important role here. Users mostly look for rental housing with their exact location to understand whether it’s suitable or not.
When a person travels to another country, the first question is how to find a perfect place based on cost and location. And here comes Airbnb.
Airbnb connects not only customers but also acts as a mediator for handling their transactional payments on the platform.
The platform is safe for both parties. Apartment owners can be sure they will receive money from customers. This is due to the straightforward policy of Airbnb, which is legally responsible for every transaction on the site and bears financial and criminal responsibility for the legal actions of both property owners and landlords.
Moreover, the clients can send money securely and ensure they receive the necessary service. The marketplace has a built-in marketplace payment system that securely enables users to send and accept transactions.
Online Payments on Airbnb
Reviews After Transactions
After successful booking and staying in the apartment, the parties can leave feedback. It will reflect their satisfaction with the services provided and received.
The traveler can comment on whether the apartment’s conditions and location match the description:
- if it was clean and convenient,
- if the communication with the host was adequate.
The property owner can assess the guest’s behavior and communication.
Availability and Booking Management
While searching for an apartment, the guest can specify the date for the system to show available apartments.
Having chosen the accommodation, the client books it for the selected date. The property owner gets a notification. Then, the apartment will no longer be displayed for clients in the search results for that date to avoid double bookings.
Booking Management on Airbnb
Delaying Payments or Holding Funds
If a marketplace needs to ensure that both parties complete their side of the deal, it controls the transactions.
Upon the client’s payment, the money is not transferred to the host’s balance but is frozen by the platform. The funds are transferred to the host’s balance upon completing the service.
Moreover, the service allows its customers to split large payments and pay in two batches – the first half is paid once the customer books an accommodation, and the second one is charged two weeks before the trip.
Airbnb split payments
Checking Apartments Pictures
To ensure that the photos of an apartment are accurate and depict the accommodation, landlords can verify all the pictures published<