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An app like Airbnb helps locate accommodations in any desired destination easier. Any traveler can book their stay at any place in a matter of a few clicks. When we travel from one place to another, our comfort is paramount. That’s why industries are competing to help vacation lovers to enjoy their vacations comfortably. And this is where a home rental mobile application comes to help.
A home rental app like Airbnb helps travelers by helping them compare prices, book accommodation, buytickets, and comparing prices. It lets property owners connect easily and post photos of their property and pricing.
Are you an entrepreneur and looking forward to developing a home rental app? Look no further than Hyperlocal Cloud because we offer a rental application like Airbnb, which is more advanced than your competitors.
Here in this blog, we will explain how you can develop a home rental platform like Airbnb. We will try to understand each and every factor of developing such a platform, its cost, features, and development process. Keep on reading till the end to get a complete knowledge of rental apps like Airbnb. Let’s get started.
Let’s start the blog with some fun facts about home rental:
|San Francisco is the most expensive city for renting in the USA, with an average rent cost of $3,490/month.|
|There are 40% Americans renting homes.|
|Renters are generally young adults, singles, and new to the city.|
|On average, a person can move to a maximum of 12 different cities to rent properties.|
If you plan to invest in a home rental app, you must know how safe your investment could be. So for this reference, let’s take a glance at the future of rental apps:
According to the market reports, the revenue in home rental is projected to grow to $18.24 billion before the end of 2023.
The economic section of the home rental market will rise to $77.09 billion by 2033.
It reflects an annual CAGR rate of 14% between 2023-2033.
Stat Source: - Future Market Insights
As you can now figure out by yourself that the growth in online home rental is profitable, investing in a rental app like Airbnb can be good for your business’s economic section.
Airbnb is a single vendor marketplace that works for two-sides; for guests and the owners. How does Airbnb work? Let’s understand the workflow of Airbnb:
Monetization Strategy of Home Rental App Like Airbnb
After the complete development and deployment process of your application, now it's time to know some monetization strategies for your rental app. Let’s get started:
Service fee is a common way to make money through a home rental app. In this model, a business owner can take a cut on each booking from the service provider. The service fee for guests is typically around 14%, whereas the service fee for hosts is around 3%. The whole service fee is calculated over a booking price, and a determined percentage of the amount gets credited to the owner.
An owner can offer paid premium listing on the application. These listings are prominent in search results and have other advanced benefits, for instance, the ability to book for longer stays. Premium listings can be charged higher than regular listings.
You can allow other applications and organizations to run an advertisement of their product or services on your app. On every click or view of the ad, the owner will be paid. You can also partner with travel brands and agencies.
This allows users to purchase additional features and services within the app. It is a good practice to generate recurring revenue from your home rental app like Airbnb.
We let our clients avail a home rental app development solution that offers sustainability in the market. Hyperlocal Cloud is always looking forward to serving its clients with quality.
Hyperlocal Cloud offers top-tier features in the application to beat the competition. Let’s understand some important features to have in an app like Airbnb:
We have classified the features into 3 categories; property owners, guests, and admin.
We implement the latest features for admins in our app. Here is the list of specific features for an admin:
|Dashboard||An admin can monitor sales, booking, and active properties in one place.|
|Manual Assign Request||This feature will allow admin to delegate requests manually to a service provider.|
|Fare Management||It lets an admin monitor their sales, approve fees, and share commissions with the service provider.|
|Setting Management||It allows an admin to configure the look of the application according to their preference.|
|Report Generation||This feature generates reports on behalf of the performance, monthly revenue, and user traffic on the platform.|
A property owner is responsible for all bookings and user engagement, so let’s understand the features for owners in the app:
|Sign-up/Log-in||A property owner can easily log in or sign up with their social media or official domain.|
|Profile||A host can view the profile of a user and the last check-in on their property.|
|Attraction & Activity||It allows hosts to list what type of activity or attraction their property has nearby.|
|Listing||A host can briefly describe their property, the number of guests they accept, the price range, and the address.|
|Calendar||It offers the ability to view the calendar of upcoming bookings and available slots to provide bookings to users.|
|Call & Chat||It connects a host with the guest via call and message.|
A guest must have easy access to the platform before, during, and after the stay. So here are some essential features for a guest;
|Log-In/Sign-Up||A guest can log in or sign up with existing data on their Gmail or Facebook account.|
|Manage Account||User can manage their account by modifying their name, address, profile photos, and payment options.|
|Search & Filter||With this feature, travelers can find accommodations according to their input. They can filter the search with room type, guests, geolocation, price range, and rating|
|Add Favorites||It creates a separate section for users to save their favorite property they would like to visit next.|
|Contact & Support||A guest can connect with the property owners by message and call.|
|Push Notifications||This feature keeps a user update about new changes in their booking or for any fresh arrivals.|
|Booking Calendar||A calendar can help users determine which date is available for their selected stay.|
|Rating & Reviews||A guest can drop their experience in the review box of the property’s profile.|
Development of a home rental app platform like Airbnb can be daunting, but with proper strategy and a skilled development team, this can be made easier. So now let’s understand the development process step-by-step:
Hyperlocal Cloud can help you avail an application like Airbnb, which can help you to improve customer engagement, increase brand awareness, and generate high revenue.
A modern tech stack is required to make the app competitive. So let’s understand some essential tech stacks for your rental app:
|Amazon S3||Amazon EC2||Sass|
|Amazon Cloud Front||Hadoop||Airflow|
An app like Airbnb can benefit an entrepreneur in various ways. As people love to travel, in the same way, they also look for services and comforts. Keeping this in mind, here is an application that can benefit travelers and those looking for accommodation in a better city. You can connect with us anytime to talk about your business idea. We have an advanced team who can help you achieve your desired home rental app like Airbnb that caters needs of your business.
How Much Does It Cost To Develop A Home Rental App?
A home rental platform like Airbnb costs around $10,000-$12,000. The mentioned cost can go higher based on the requirements, manpower, and advanced tech stack.
How Much Time Will It Take To Build A Home Rental App Like Airbnb?
It can take approximately 2 weeks to achieve a complete solution on a platform like Airbnb. The development time can also increase due to other requirements like extra features addition, the complexity of the application, manpower on the floor, etc.
Why Choose Hyperlocal Cloud For Home Rental App Development?
We have experience working with more than 1,200 clients worldwide. Our 150+ high-end developers always strive to develop a solution that can beat the competition. Hyperlocal Cloud is always ready to take any challenge.
How Can I Ensure The Safety And Security Of My Home Rental App?
We always ensure to embed SSL certification, two-factor authentication, and fraud detection algorithms in an application to ensure its security. Our developers have a 0.01% chance of becoming vulnerable to any malware.