What You Should Keep in Mind if You Want to Put Your House in Colombia on Airbnb

Surely you have used it to find accommodation on one of your trips, you have read news in the newspapers or it has been recommended to you by a friend who is making extra money through it. The truth is that Airbnb does not go unnoticed. This collaborative economy platform is a system that allows anyone to book or offer accommodation safely and cheaply through an application that can be operated from a phone, tablet, or computer. There it is possible to find anything from a room in the host’s house to an entire home. Therefore, you can also put your house in Colombia on Airbnb and get extra money that way.

This idea, which was born in the heads of two designers with additional space in their home in 2023, is today a community that has been used by more than 60 million people, is present in 34,000 cities in 191 countries, and has more than 2 million rental properties. However, like other popular services that use this new way of exchanging goods and services, there are debates about its legality and impact on the traditional economy.

In Colombia, its popularity has grown to such an extent that last year it already represented 9% of the hotel capacity in Bogotá, 11% in Medellín, and 13% in Cartagena. This is an especially interesting option for Colombians abroad who have property in Colombia or are thinking of buying it to use during their visits or as an investment for when they decide to return to the country. So, while more owners and travelers join the ranks of collaborative consumption and the digital economy, and the debate on regulatory challenges remains in progress, in this article we tell you what you should keep in mind if you are thinking of putting your house in Colombia on Airbnb.

5 tips to put your house in Colombia on Airbnb

1-Consult local legislation regarding hotel services. In this regard, the company warns on its website: “In some places, laws restrict the ability to host guests in exchange for money for short stays. These laws are usually part of the urban or administrative codes of the city in question. In many, you must register, get a permit, or obtain a license before you can post your listing or accept guest bookings.” Today, in Colombia the use of Airbnb and its taxation are being regulated, opening the debate between the Ministry of Industry, Commerce and Tourism, the Ministry of Technologies and Communications (Mintic), ANATO (National Association of Travel Agencies ), and COTELCO (Hotel and Tourism Association of Colombia) to establish regulations. On August 7, the Government announced the first measure to which all those who promote their services through this medium or any digital platform must submit: they must appear in the National Tourism Registry and have 100 days to register.

Taxes. You should keep in mind that the income you receive from listing your home in Colombia on Airbnb may entail tax obligations if you are a resident of another country. If you are the one who is directly in charge of doing it and you receive the money in your account abroad, you may have to include this activity in your income tax return. Since this depends on local legislation, we recommend you investigate directly in your city. In these links, you will find important information about paying taxes on Airbnb and a General Guide to the taxation of property rental income for Airbnb in Spain.

2-Have a trusted person in the city where the property is rented. If you live abroad and want to put your house in Colombia on Airbnb, you must have the help of a friend or family member who is in charge of receiving guests, cleaning, and checking that the home remains in good condition. To do this, the platform allows one or more people to be added as co-hosts so that they can help manage reservations, communicate with guests, and keep up to date with the reservation calendar. Within the final price charged to guests, an additional amount is charged for cleaning, and payments can even be arranged for one or more of the co-hosts.

3-Create a winning ad. The first step to listing your house in Colombia on Airbnb is to register and create an ad with a complete and detailed description of the space. There are three key aspects within this process: taking good photographs, total sincerity regarding the offer and the house rules, and setting an appropriate price in line with those in the area. Airbnb suggests a price depending on the existing demand in the area where the home is located, which may vary according to the evaluations the ad receives, high and low seasons, etc… It is advisable to study similar ads in the area to have an initial idea. Most guests leave basic items for their visitors (toilet paper, towels, sheets) and others choose to offer breakfast as an added value to the stay. Airbnb takes care of charging guests before their arrival and paying hosts via PayPal, a deposit, or an international bank transfer, charging 3% on each reservation.

4-Good communication. Once the ad is created, people interested in it will begin to write to you or book the accommodation if you activate instant booking. It is important to respond to messages on time, specify arrival and departure times with guests, and provide them with sufficient information on how to get to the accommodation. Talking to neighbors – especially if it’s an apartment – is a good idea to ensure a good experience for everyone.

5-The final touch. Details such as welcome notes, tourist maps of the city, or a complimentary bottle of wine are extra points that the guest will appreciate and are also a motivation for them to leave a good evaluation on your listing at the end of the experience. You must have very good reviews so that you can continue to attract more guests. Unlike hotels, Airbnb offers a warmer and more personal service.

If used within legal regulations and in an environment of respect, listing your home in Colombia on Airbnb is an excellent idea for your finances. Not only is it a way to put your home to good use while you are out of the country, but it can also help you pay for its purchase and maintenance costs, with the advantage of being able to use it during your visits or when you decide to return. to the country.

If you do not yet have a home in Colombia but are thinking about investing, we recommend you visit our project portfolio. You can also contact us for more information about our services; Open a savings account in Colombia, resolve your pension situation, or manage a mortgage loan from abroad. We will be happy to help you meet your goals!

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