Airbnb Montreal: Host Market Spotlight
Did you read that new study? It found that approximately everyone knows about Airbnb.
Why is it so popular? If the hotel chains can charge for a single room and bath, then why not the spare bedroom in your house?
It’s a simple concept, and it has caught on like wildfire.
Airbnb has welcomed over 60 million guests, and is available in over 34,000 cities worldwide.
Did you know that many cities existed on the planet? We didn’t!
Most surprising of all, Airbnb now has over 2 million listings. Starwood-Marriot on the other hand, the largest hotel in the world, has only 1.1 million hotel rooms.
The home-sharing trend has become so popular it is transforming the hospitality and tourism industries. So much so, that Canadian provinces have even implemented new regulations for Airbnb hosts.
With new permits and taxes, you’d think people would be deterred from posting their homes, but incredibly Airbnb in Montreal is blowing up.
Airbnb Montreal: How Do We Know?
Sure it’s one thing for a blogger or the CBC to tell you, but where’s the proof? Where are the numbers?
Fortunately, we have a powerful tool at our disposal – Airdna. This company compiles Airbnb data into easy to use reports and graphs.
This includes pricing comparisons, listing metrics, occupancy, and much more. All important data points for Airbnb Montreal hosts looking to up their Airbnb game.
Much of the data Airdna provides is free, but they do offer premium reports.
Thankfully for Host Kick readers, Airdna has provided us with their premium Airbnb Montreal reports.
So let’s break it down for you.
Airbnb Montreal: The Trend
As of July 2016, 8,625 households have posted their property on Airbnb in Montreal, the majority of the rooms being private in a shared house.
To put this in perspective, there are 813,819 private households in Montreal. So 1 out of 100 people in the area has already decided to be Airbnb hosts.
Out of those people listed, Airbnb Montreal hosts made anywhere between $4,000 to $60,000+ over the course of the year.
Notice that entire households that aren’t shared with others garnered the most revenue.
But how much are people charging per night?
Depending on how snug you want to be with strangers, Airbnb guests paid anywhere between $20 and $240 per night in Montreal.
It’s no wonder Montreal Airbnb is so growing as fast as it is.
But these rates are only for July. The hospitality industry adjusts their rates depending on seasonality, and you should too.
This is why Host Kick has a pricing algorithm for all the Airbnb properties it manages. We want to make sure you get the best possible price.
Throughout the year, hosts have charged as much as $140 per night or as little as $30 a night.
And, not surprisingly, summer is the best time of the year for Airbnb in Montreal.
What’s in a Montreal Airbnb Room?
Airbnb hosts take pride in creating great guest experiences in their homes. Or treehouse.
Ya, it’s a real listing.
To get 5 star reviews from Airbnb guests, it’s best to provide what the hotel chains offer, and in some cases what they don’t.
It should be no surprise that 96% of households have Wi-Fi. I mean they are working off of the internet.
The top amenities for Montreal Airbnb are heating (cold Canadian winters!), Wi-Fi (obviously), a kitchen (duh), and a washer/dryer.
These are obvious.
But notice the top amenities that aren’t offered: cable TV, gym, pool, hot tub, and breakfast.
The most unused amenities just happen to be what you would expect from your standard hotel chain. Perhaps that is why home-sharing is exploding in popularity.
Tourists are already spending plenty of money just to get to Montreal. Why spend hundreds of dollars on eating out when you could cook right in your home?
Unless you’re like me and are terrible at cooking. My specialty is Kraft dinner pizza.
Hungry now, aren’t you?
One last point on amenities: access to laundry will save the traveler luggage space and baggage fees when traveling. So when setting up your house on Airbnb, ask yourself “How can I make their trip simpler?”
What Are The Top Montreal Airbnb Hosts Doing?
It’s one thing to have the right price and property, but top earners for Montreal Airbnb also have a few tricks up their sleeve that Airdna didn’t miss.
Of note, most hosts have a 2 night stay minimum. Who is going to spend one night in Montreal anyway? Note however, that minimum stays peak after 2 nights.
It’s understandable that you would want guests to stay longer as it’s less maintenance for you. But remember consumers often pay for convenience first.
Demanding longer stays could turn people away from your home.
When it comes to their cancellation policies, we see a teeter totter effect.
Newcomers tend to be more flexible with their cancellation policy, but as they get more stars and reviews under their belt, they have room to stand their ground with cancellations.
Remember that you are only making money if people stay at your place. If someone cancels last minute, suddenly you’re out $20, $50, $100, $200.
Should I set up Airbnb in Montreal?
Even with new regulations, home-sharing doesn’t appear to be peaking.
If anything, these regulations are legitimizing hosts as the small business owners they are.
Having to comply with the same tax codes and permits as the rest of the hospitality industry gives your home business more legitimacy and value.
Also, check out Airdna for more information about Airbnb Montreal listings. Invest in some local knowledge about your competition to help you stand above the crowd.
This will give you a great insider’s look at the Airbnb Montreal market. After all, knowledge is power, and…