As we’ve already discussed, Booking.com has made it simple to post rental homes on its platform and has streamlined its procedures so that changing the availability, altering the rates, or adding extras and promotions can all be done quickly and easily. Although listing your property on Booking.com is free, you will have to fork up a predetermined percentage on each reservation booked using the Booking.com platform. \
What Is the Price to List on Booking.com?
For all confirmed reservations and all non-refundable bookings, Booking.com typically deducts 15% from the top of the rent you are paid. In other words, you will owe Booking.com $15 for each property you rent for $100 per night. Although that percentage might seem high (for comparison, Airbnb’s percentage varies depending on the fee structure hosts have selected, but the host-only fee ranges from 14% to 20%, while Vrbo charges about 5%), it covers a first-rate support system with resources for both tenants and property owners. Additionally, it gives you access to incredible data and analytics tools to monitor your rental’s effectiveness.
Knowing that this commission percentage varies according to the region where you are providing rentals is also beneficial (Booking.com offers a handy calculator within their extranet so you can know how much you will owe). Additionally, Booking.com will not charge a commission for bookings when the renter fails to show up (unless that reservation was a non-refundable booking, in which case the commission would still be applicable).
Remember that Booking.com does not immediately collect this commission fee at the time of booking; instead, they send you an invoice at the start of each month for the total commission owed from the previous month (that way, you do not have to deal with reimbursement for canceled reservations). Would you like to monitor the inflow and outflow of these funds? The “Finance” option on the Booking.com extranet allows users to examine their monthly rental income and commission percentage. Additionally, individuals can download their statements from this page to keep their personal records current.
Exactly How Are Hosts Paid on Booking.com?
The most crucial query to ask when advertising a property on Booking.com might be, “How do I get paid?” The method of payment that a Booking.com host receives is determined by the payment methods that the host or property owner has chosen to accept. Many hosts on Booking.com accept credit card payments, especially if they are running specials like the previously mentioned last-minute discount or non-refundable pricing. The reservation information will be recorded whether a guest makes a payment by credit card (listed under the associated tab within the Booking.com extranet). You, the host, can enter into the virtual credit card (VCC) system and charge the card for the debt when the payment is prepared to be completed.
Some hosts on Booking.com would rather use different techniques, such as cash payments or bank transfers. If you decide to use a bank transfer, you must make sure that the “Finance” tab has your bank account information on file. If you choose for cash only, specify this on your listing page so that guests are not caught off guard by the demand for significant quantities of money after extended stays.
You should get gross payments at the frequency you’ve chosen, regardless of the manner of payment (apart from in-person cash payments) (either weekly or monthly). It is best to be aware of the laws in your particular region as these payment options may not be available for all properties, and the procedures to achieve them may differ depending on where your property is located (North America and Brazil, for example, have their unique instructions as to how payments are processed).