How do you take over an already-operating Airbnb?

Question

I'm buying a property that's already running as an Airbnb. I've been having a hard time finding out whether the listing can be transferred to my Airbnb account, or whether I have to create a new one. I'm assuming it's the latter, but am hoping others have figured out ways to retain all the existing reviews on the property instead of starting from scratch. The extra wrinkle is that there are a few remaining bookings reserved for after I close on the property.

Current plan is for the owner to block out all future dates, and I will set up a new account that opens up all non-booked dates. But we don't know whether they can be live at the same time, considering each listing will have the same STR permit. Has anyone seen Airbnb reject this?

Alternatively, I've heard of the listing owner for existing bookings reaching out to the guests to ask them to rebook under the new owner's account, but I wonder if this could run afoul of Airbnb's cancellation policies.

John Underwood · Answer

You typically have to start YOUR own page and start building reviews.

Ask to contact current booking and get them to move to your new listing. I would stipulate that in your offer.

Chase Hoover · Answer

The ONLY way of keeping the existing listing and reviews is if the current owner provides you with the login info for their account, which you take over by logging on after settlement and updating all info.

It's sticky, and not techincally allowed by Airbnb.  But as others have said, Airbnb most certainly does not allow for transfering listings and reviews between accounts.

It will only work if the current owner only has this listing on their Airbnb account.  If they have other listings that they are not selling, they obviously would need to maintian control of their account.

If you do this - the current owner will want to export ALL past financial transaction data and save it on their computer for tax-time.  You'll want to update the W9 info immediately, so that all revenue received after closing is reported to your 1099.

You can try to create a new listing, have the current owner cancel guests and ask them to re-book under your new listing, but it's a headache.  We've tried a few times.  It's difficult to get the numbers to match up, guests get freaked out that they're being scammed, and the current owner will have to pay cancellation fees and penalities.  If you think Airbnb is actually going to be helpful in assisting with this, you're in for a rude awakening.

Summary - the CLEANEST way to buy an existing STR is to start from scratch.  Don't overpay for the "STR business" or pay an extra $100k or whatever these greedy sellers are trying.  Buy the property at the property's value.  If you're dead-set on keeping the listings and reviews, you'll need to negotiate a takeover of the current owner's Airbnb account.  Be sure to have this written in the purchase contract!!!!

Use a good real estate agent who is EXPERIENCED with STR transactions.

Conner Olsen · Answer

Everyone on this thread is correct, you cannot transfer an Airbnb listing to anyone else. One way around this when you go to sell is to start by setting it up on its own email address and have those emails forwarded to you. That way when you sell the property you just give the login to the new buyers.

Tyler Winget · Answer

If you use a PMS and manage multiple listings where they all pool into one software (i.e. Guesty/HostAway etc.) then you could offer to BUY the account from the existing host for X amount. Then, you could simply sync that account to your PMS, change the password and photo icon and all would be easy.

Where this may get sticky is if it is their own personal travel account, and they don't want you to have it.

Eliott Elias · Answer

Sit down with the previous owner and walk through the process with them, i'm sure they'd love to show you how they operated

Hire the old property manager to manage it

Dave Stokley · Answer

There is no way to transfer a listing to a new owner on Airbnb (which is extremely frustrating but ultimately I’m not sure it’s a bad policy). We always start a new listing because we don’t allow our clients to be on the listings as co-hosts.

My first choice would be to leave both listings active, but where I operate there’s no permitting process so I don’t know if/how that works. I know others who ask the guest to re-book, which is super annoying for the guest, but it is what it is.

Leslie Anne Morris · Answer

This is never perfect. I’ve taken over management of existing airbnbs and the only way is to cancel and hope you can get them to rebook. You can check in with Airbnb but I believe you can have two similar listings live in this case

Drew Clayton · Answer

I get what both @Don Konipol and @Chase Hoover are saying; there's truth in both positions. In some markets where properties aren't plentiful and demand is high, a property that's a good potential STR is worth a bit more to an investor. However, I wouldn't consider it buying their business (because you can't), and wouldn't pay a ton extra for that purpose, especially because if you're getting a mortgage, they will only lend on the comp value, since it's not a commercial property valued on cap rate.

There are some DSCR lenders who are starting to lend on STRs based on their income, though you're going to have to put more down. And as always, you need to be certain you'll be able to hit a similar profit as the former owner, which will be hard without ratings, because Airbnb will bury you in the search results, especially with the 2022 site redesign.

Chase Hoover · Answer

Unless we're discussing a commercial asset, the value of a residential property (no matter if it's rented LTR, STR, or used as a primary residence), is determined based on local sales comps.

Regarding the STR licenses, this is market-specific.  In my market here in VA, new owners need to apply for their own licenses, they do not carry with the property.  If you're in an area where an STR license is like a liquor license (limited number and transferrable with the property), then yes, that holds value and I can see extra compensation for that.

As this thread discusses, Airbnb listings are not transferrable to new owners.  I do not see the value of paying an extra $100k for the "business" - for what?  The contact info for the housekeeper they've been using?  I have bought and sold businesses and fully understand and appreciate the valuations of such, however a single family residence being used as an STR should not be valued any differently because it is used as such, in my humble opinion.  STR is a cash flow strategy for investment property owners.

How do you take over an already-operating Airbnb?

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