How To Make Money On Airbnb In Kenya

One of the most oft asked question I've been getting since I published my Comprehensive Guide to Starting an AirBnB in Kenya is how to go paid for your AirBnB in Kenya, AirBnB host payment methods in Kenya or rather, how to get money from your AirBnB hosts in Republic of kenya.

If you're using AirBnB to list your holding in Republic of kenya, then AirBnB would collect the money from guests on your behalf and then pay you depending on what medium you choose to be paid in less their commission.

Notwithstanding, if you're using other short term rental property listing sites in Kenya such as Booking.com, Jumia, etc, and then in that case you will collect coin from your guests and and so pay the listing platform their committee. Usually, they'd invoice you at the cease of the month and expect payment in nearly a week or 2.

So, without much farther ado, following are 7 main ways to go paid for your AirBnB property business in Republic of kenya:

What's Covered in This Article

ane Payoneer Prepaid Debit Carte/Depository financial institution Transfer
- 1.1 Disadvantages of using Payoneer to withdraw your AirBnB earnings in Republic of kenya
2 Paypal
- 2.one Advantages of receiving your AirBnB Payouts in Kenya using PayPal:
- 2.2 Disadvantages of receiving your AirBnB Payments in Kenya using PayPal
three Direct bank deposit / Automated Clearing House (ACH)
- 3.1 Advantages of receiving your AirBnB Payouts in Kenya past directly bank eolith/International wire
- three.2 Disadvantages of receiving your AirBnB Payouts in Kenya by direct bank eolith/international wire
4 Western Matrimony / Moneygram
- 4.i Advantages of receiving your AirBnB Payouts in Kenya by Western Union / Moneygram
- 4.2 Disadvantages of receiving your AirBnB Payouts in Republic of kenya by Western Union / Moneygram
5 Cash on arrival
- five.1 Advantages of accepting Cash payments for your AirBnB in Republic of kenya
- five.two Disadvantages of accepting Cash payments for your AirBnB in Kenya
6 Credit Cards or Debit Cards
- vi.1 Advantages of accepting Credit Carte du jour/Debit Carte payments for your AirBnB in Kenya
- 6.2 Disadvantages of accepting Credit Card/Debit Card payments for your AirBnB in Kenya
7 One thousand-Pesa
- vii.1 Advantages of accepting M-Pesa payments for your AirBnB in Kenya
- 7.two Disadvantages of accepting M-Pesa payments for your AirBnB in Kenya
8 Closing thoughts

Payoneer Prepaid Debit Card/Depository financial institution Transfer

Payoneer.com (25$ complimentary at sign upwardly)

To receive your AirBnB payments from customers guests in Kenya, you simply share your Payoneer bank account details (check on your Payoneer dashboard).

If yous sign up to Payoneer with this link here, your go $25 free the moment you lot accrue the first $1,000 into your account.
No limit to how much money you lot tin receive on your Payoneer Debit prepaid card account.
With Payoneer you get a local bank business relationship in the U.s.a. (in US$), Europe (or euros), the United kingdom (in pounds) & Japan (in Yen) then no demand for multiple currency conversions = actress greenbacks in your pocket.
In improver to AirBnB, Payoneer works equally a mode method of getting paid online in Kenya by many other companies and freelance marketplaces such as Amazon, Fiverr, Upwork, 99 Designs, Uber, Coinbase, etc. This means you get to manage your payments from one menu.
Y'all tin utilise your Payoneer menu to withdraw money from ATMs in Kenya and worldwide using the usual withdrawal procedures and your Pivot.
It is free to get the Payoneer menu.

Disadvantages of using Payoneer to withdraw your AirBnB earnings in Kenya

There are charges associated with withdrawal fees. Please cheque this link for Payoneer charges for Republic of kenya.

Paypal

To utilize PayPal to receive your AirBnB payments payouts in Kenya, you must offset open up a PayPal account or use your existing one.

One time you sign up for PayPal, you lot basically apply the electronic mail address associated with it every bit the PayPal account.

Find out more than about how to open a PayPal business business relationship in Kenya, including how to connect your PayPal to Chiliad-Pesa, and how to deposit money to PayPal in Republic of kenya using 1000-Pesa.

Advantages of receiving your AirBnB Payouts in Kenya using PayPal:

You tin transfer your PayPal receipts directly into M-Pesa. Come across how in this post here.
If your belongings is listed on AirBnB, after Airbnb releases your payout, PayPal typically assets the funds to your account inside one business day. However, if the client pays you straight, you get it availed to your PayPal account almost immediately.
With your PayPal business relationship, y'all can pay for online purchases directly even if y'all don't have a credit card.
Sending money to family and friends in Kenya and other parts of the earth using PayPal is gratuitous.

Disadvantages of receiving your AirBnB Payments in Republic of kenya using PayPal

Similar Payoneer, when you sign upwardly for a business concern account, PayPal charges 2.ix% (plus $0.xxx) when receiving money for goods or services in Kenya. Check out this link for PayPal fees charges if y'all live in Kenya.
It costs more coin to transfer money from your PayPal into Thou-Pesa.
PayPal is notorious for freezing accounts – plus the funds in it – without alert. PayPal may freeze your account if they doubtable that you are breaking whatsoever of their terms of service. Unfortunately, the internet is awash with complaints of people who had their PayPal accounts frozen for 'no apparent reason' and 'without and caption'peculiarly when they started receiving what PayPal considers 'significantly high amounts of money'.
Verification issues. When you sign up for a PayPal account, you will need to verify the account using a debit carte, credit card, or your bank account data, in gild to limit some restrictions put on your account e.g. deposit and withdrawal limits, business relationship freezing etc.

Directly banking concern deposit / Automated Immigration Business firm (ACH)

This is basically where you issue your bank account details and either AirBnB or your guest and they transfer the money directly.

Advantages of receiving your AirBnB Payouts in Kenya by directly banking concern deposit/International wire

AirBnB hosts ordinarily do non need to pay any fees to have money straight deposited into their account via ACH or international wire. Though some banks may charge for this.
ACH direct depository financial institution deposits allows you lot to receive your money into the account, and it also provides additional options such equally online payments, and person-to-person transfers.

Disadvantages of receiving your AirBnB Payouts in Kenya by directly bank deposit/international wire

High odds of fraud as you have to give your full banking concern account details, and your personal data your including your account number, routing number, accost, etc.
May take a while between when the funds are sent to your bank account in Kenya and when you can actually access it.
Fees may utilise.

Western Union / Moneygram

Western Union or Moneygram is another alternative fashion of getting paid for your AirBnB business in Republic of kenya.

Advantages of receiving your AirBnB Payouts in Republic of kenya by Western Matrimony / Moneygram

Very piece of cake to have AirBnB payments in Kenya. You typically only need to provide either AirBnB or your invitee with your proper name every bit it appears on your official ID.
Location – Western Union/Moneygram accept many agent locations across Kenya and worldwide – including all the banks in Republic of kenya.
Instant transfers – With Western Union/Moneygram, your AirBnB payments are instantly available upon transfer.
You practise not crave a credit bill of fare, debit card, or bank account to withdraw your money from Western Matrimony/Moneygram only an ID like a passport or a driver'due south license and the 10 digit number is required.

Disadvantages of receiving your AirBnB Payouts in Kenya past Western Union / Moneygram

Can be cumbersome. You must physically walk into a Western Union / Moneygram agent to collect the payments in person. You lot cannot automatically transfer the money to G-Pesa, a depository financial institution account or credit bill of fare.
Currency exchange losses when you collect your funds since you tin only receive your funds in the local currency of where your agent is located.
You cannot virtually runway your Western Union/Moneygram payments from guests.
With MoneyGram, you can just receive payments from guests in the Us
Easy target for scam artists due to funds existence virtually untraceable when received.

Cash on arrival

You can also accept cash payments for your AirBnB in Kenya.

Advantages of accepting Cash payments for your AirBnB in Kenya

No boosted fees incurred in receiving the money
Fast and user-friendly to accept greenbacks payments for your AirBnB

Disadvantages of accepting Greenbacks payments for your AirBnB in Republic of kenya

Yous can easily be defrauded with fake money
Can exist stolen easily during transfer from the holding or while stored at the belongings
Struggling with issuing modify/residue money especially when invitee pay in foreign currency and insist on beingness given change in foreign currency

Credit Cards or Debit Cards

For me this has been the greatest selling indicate for my booking.com invitee.

In lodge to be able accept Credit menu or debit card payments for your AirBnB or brusque term rental in Republic of kenya, y'all will need to contact your bank and request them for a POS terminal to enable guests to swipe their cards.

The POS automobile credit card car will enable you lot to accuse your guests who want to pay by credit carte or debit card.

Advantages of accepting Credit Card/Debit Card payments for your AirBnB in Kenya

Accepting credit cards or debit cards at your AirBnB in Kenya could heave your bookings. Very few travelers these days travel with cash. Cardholders are more probable to book a stay at a property that accepts credit cards than one that's cash merely. Statistics evidence that more than ninety% of online payments are done using credit cards. So if your are offering a service on the internet and yet not accepting cards on your AirBnB, y'all could be leaving a lot of money on the table from potential invitee. Especially so from guests who prefer the flexibility of platform like booking.com which has an option for costless cancellations as well as the selection to pay for your stay on arrival. The moment I started accepting credit cards for my AirBnb, I saw run across a corresponding increase in stays almost immediately.
Very fast and convenient especially if yous get the right POS motorcar. As well the convenience factor, many customers want to utilize their credit cards to earn menu rewards points towards trade and cash back.
Hotels in your area are one of your main competitors. And they probably are already accepting cards. Don't lose a potential guest to another AirBnB or hotel simply because y'all don't accept cards.
Cardholders tend to be more affluent and are generally impulse buyers. Thus, they are not limited to spending just the physical cash they have at hand. Accepting card payments therefore gives you an opportunity to upsell. In my AirBnB for instance, I had a small cabinet in the living room corner that stocked African accessories such as maasai earrings, maasai sandals, kiondo baskets etc. Then I fabricated several sales from my guests (including those who didn't accept cash).
With bill of fare payments, if a guest causes damages to your AirBnB inventories, you lot can accept intendance of information technology with 100% ease.
As customer volition be swiping their card in your presence, you have the added advantage of asking for valid ID and reducing instances of fraud
Accepting credit cards gives your AirBnB some level of legitimacy. When I received my POS machine, the bank gave me stickers with various credit card provider logos which I stuck at my AirBnB living room as an accepted form of payment. The created a sense of familiarity and trust in my AirBnB guests' minds. Several actually were kind enough to mention this to me.
Accepting credit cards for your AirBnB gives you digital visibility since your POS machine is linked to a bank account. So each time a guest swipes, there is a trail which comes in handy peculiarly when you need services such every bit a bank loan, to apply for a visa, etc.

Disadvantages of accepting Credit Card/Debit Carte du jour payments for your AirBnB in Kenya

Speed and completion of transaction dependent on POS issuer and cyberspace.
Clients who pay via credit bill of fare may dispute bill at a later time. I personally have never faced this challenge.

M-Pesa

To accepts payments for your AirBnB in Kenya using K-Pesa, you can choose to take guests send money directly to your personal K-Pesa number or annals a split up PayBill/ Buy Appurtenances till number for your property.

Advantages of accepting One thousand-Pesa payments for your AirBnB in Kenya

Easy payment method for your local domestic tourist/guests
G-Pesa reciepts tin can be tracked virtually instantly and monthly via M-Pesa statements.
Thousand-Pesa transfers are instant and you become an alert on your phone immediately the guest pays
1000-Pesa receipts can be used to make purchases pretty much everywhere in Republic of kenya and likewise to pay bills.
Sometimes the G-Pesa system tin can exist downward

Disadvantages of accepting Chiliad-Pesa payments for your AirBnB in Kenya

Is but accessible to people with an Thousand-Pesa business relationship.
Information technology costs coin to withdraw the funds from your M-Pesa business relationship

Closing thoughts

Getting paid for your AirBnB concern should at present no longer be a big deal.

I have given several payment methods for your AiBnB business in Kenya that I take personally used.

I take tried my best to be extremely transparent in my assay of each of these options based on my experience so you take something to brand a decision off of.

Don't use only the price factor as a conclusion matrix. Weigh all the options, both the pros and cons.

Personally I use all methods higher up except Western Union only my favorites are cash and credit cards/debit cards (using my POS machine) to accept Booking.com payments; and the Payoneer Prepaid Debit Card that I accept linked to my AirBnB business relationship.

What practise you recollect of these alternative methods for accepting AirBnB payments in Republic of kenya from guests? Have yous ever used information technology any of the methods to get paid for your AirBnB business in Nairobi Republic of kenya? Do drop in your comments below. I'd dear to read them.

Source: https://www.evamtalii.com/7-ways-to-be-paid-collect-cash-for-your-airbnb-in-kenya/