Airbnb has become one of the most well-known and successful rental marketplaces in the last decade.
What are the main factors that contribute to its distinctness and success? What monetization strategy does the website use to make money? Is there a quick way to create a platform like this?
We recently published an article at Codica on how to build a website similar to Airbnb, which will provide you with insight into how to launch a similar platform.
Today, we’ll go over the key features that set Airbnb apart from the competition, and we’ll show you how to start your own Airbnb marketplace.
Overview of Airbnb
To begin with, there is slew of Airbnb competitors, including Booking, Wimdu, and 9Flats.
The website has features that are similar to those found on other booking platforms, but there is a significant difference.
Other options connect buyers with hostels and hotels, while the Airbnb Clone app connects travelers with homeowners. As a result, the marketplace is divided into three parties: hosts, travelers, and administrators.
Let’s take a look at the rental market’s statistics, which show how well it performs in a variety of ways.
Two American designers were on a tight budget in 2008. They decided to rent out their lodging for a fee in order to make some money to pay for their lodging.
Guys began looking for sponsors to support their startup idea once they had amassed enough funds. They created a simple website and advertised their living room for rent on it. Finally, the platform was updated and expanded, with the following features:
The Process Of Registering And Logging In
Be a guest or a traveler.
Keep an eye out for new listings.
“AirBed and Breakfast” was the original name of the successful and popular e-commerce website. One of the first marketplace versions can be seen here.
Airbnb is now one of the most well-known rental marketplaces in the world.
Let’s take a look at an informative infographic that depicts the entire company’s growth from a startup concept to a $10 billion market capital.
Every transaction on the platform costs both the buyer and the seller a commission. As a result, owners pay 3 percent for each transaction, while guests pay 6–12% for each booking. The commission is based entirely on the property’s value.
Let’s take a look at how the marketplace makes money for both parties.
How Do You Create A Website Similar To Airbnb?
1. Select a software option.
In fact, the following solutions can be used to create a similar website:
- a pre-packaged solution;
- Development tailored to your specifications.
Each point has its own set of advantages and disadvantages based on customer demands. Let’s take a look at when and why you should use each one.
A ready-made answer
If you need to launch your website quickly and at a low cost, an off-the-shelf solution will be ideal. There are non-customizable and customizable templates that give you more control over your actions.
From the ground up development
If you need to implement unique business logic and provide maximum value to your customers, custom marketplace development is the way to go.
The solution is expensive and time-consuming, but in the end, you will have a complex and unique web solution built by a professional team. They will undoubtedly consider all of your demands and requirements in order to create a successful platform.
2. Select your technology stack
So, let’s get into the specifics of custom software development and start with the tech stack.
For several reasons, a project’s technology stack is critical. To begin with, it has a significant impact on the budget because the complexity of each programming tool varies. Second, it has an impact on the platform’s future scalability and development time.
We suggest that you begin the development process with an MVP to save time and money. Let’s take a look at the different tech stacks you can use to build your marketplace:
- Ruby on Rails is an application framework.
- RSpec and Capybara are two automation frameworks.
- PostgreSQL is a database that stores SQL data.
- Redis is a data storage system.
- Nginx is a web server.
- Puma is a web application server.
- Amazon Web Services (AWS) is a company that provides hosting services (AWS).
As a result, we recommend RoR as the primary application framework. It will assist you in quickly and affordably developing your MVP website.
3. Define the features that a rental marketplace must have.
Let’s look at the core functionality you’ll need to create a website that’s similar to Airbnb. It includes features for both travelers and hosts, ensuring that all parties’ needs are met.
On the one hand, this feature enables hosts to list their property and provide details about it. On the other hand, it allows travelers to keep track of existing and available options, read descriptions, book lodging, and contact the homeowner.
Additionally, authorization allows platform users to switch roles at any time.
Data from your personal profile
You must make it simple and quick for clients to change their preferences. They may, for example, need to change their phone number, password, or email address.
Both travelers and homeowners are required to fill out extensive forms. As a result, suppliers specify the details of the provided property, such as the number of beds, the type of accommodation, and the price.
System for making reservations
When guests are looking for a place to stay, they want to be able to book it for a specific date. As a result, a seller receives a notification and must decide whether to accept or reject the customer’s request.
Aside from the functionality mentioned above, there are a few other features that will be useful and enhance the user experience:
- Maps on the internet
- System of notification
- Payments made via the internet
- Support from the community.
Consider the table below, which compares the required features for all Airbnb parties.
4. Set up a marketplace MVP
Instead of building a fully functional solution right away, we recommend creating an MVP first. The main reason is that using the Minimum Viable Product method will save you time and money. Furthermore, you will receive useful feedback from investors and early adopters, which will aid in the validation of your concept.
Only the most basic functionality should be included in an MVP version of your marketplace. In the long run, you’ll expand the website to include new features.
Let’s take a look at your Airbnb-style marketplace MVP’s core functions:
Sign up for a new account or log in if you already have one.
Roles of a Guest and a Host
Option to search
- the outcomes of your search
- Page dedicated to the property
- A contact form for the host
- Channels of communication
- Recommendations that are relevant
5. Adhere to standard design principles
It may be difficult to determine whether or not a website like Airbnb requires a high-quality design. The main reason for this query is that most people believe that such e-commerce platforms prioritize functionality and conversions.
Regardless, when you visit a marketplace like this, the first thing you notice is the design. As a result, your first impressions have a significant impact on your potential purchases.
Airbnb recognizes the value of intuitive and appealing design and adheres to two core principles: designing for trust and designing for everyone. To demonstrate this, in 2016, how to start a house rental business went above and beyond to match people with homes and make them feel at ease.
Design guidelines for e-commerce
Let’s take a look at the most important principles for creating a visually appealing web product for your lodging rental platform.
- Message is straightforward.
- Navigation is simple and intuitive.
- The level of trust.
It refers to the time and money it takes to build a website like Airbnb. We recommend that you follow the principles and techniques outlined above and customize your solution to make it a one-of-a-kind web product.