One fabulous feature for both guests and hosts is the “Pay Part Now, Pay Part Later” Airbnb offer. For guests, it offers a convenient way to break up payments rather than coming up with the entire cash payment for their short-term rental stay. For hosts, it lowers the financial barrier to booking and encourages more guests to book a stay with you. This blog post breaks down everything you should know as a host about the Pay Part Now, Pay Part Later Airbnb option.
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What is “Pay Part Now, Pay Part Later” on Airbnb?
In short, the Pay Part Now, Pay Part Later is a way for guests to make a reservation on Airbnb without paying the total balance in advance. It gives travelers a way to spread out their payment over the course of a few months. This is a particularly appealing option to those who might be on a tighter budget when planning their getaway.
Why does this matter to hosts?
For short-term rental hosts, the “pay part now, part later” Airbnb has a lot of advantages. We’ll explore the big ones below.
Up your occupancy rates
When you allow guests to split up their payments, it opens up the doors to more people. A guest who would love to stay at your property but can’t afford to pay for it all at once can now stay with you, helping to keep your calendar full and occupancy rates up.
This will help minimize cancellations
When a guest puts a down payment on a stay, they’re more likely to keep their reservation. Without a financial investment, it’s easier for them to cancel.
You appeal to more people
Allowing options to split up payments opens up your target audience. Your property becomes more appealing to young travelers and younger families who may be looking for a way to pay less up front.
Let Host Tools help
While the pay part now, part later on Airbnb is a big help, there are still a lot of other tedious tasks to manage as a host. That’s where Host Tools can step in. Host Tools is an all-in-one platform that can help automate the day-to-day tasks of hosting. For example, Host Tools can automate your guest communication, manage your cleaners, and even help you build a direct booking website. If you want to save valuable time and energy, Host Tools is the way to go.
Final thoughts
The “pay part now, part later” Airbnb function is a game-changer for hosts. When you utilize this feature as part of your hosting strategy, you remove financial strain for guests and make it easier for them to commit to a stay at your property. Add this alongside all the benefits of Host Tools, and you have yourself a winning formula!
Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!
