Airbnb listings in Dubai have doubled since 2021. Photo: Airbnb
Airbnb listings in Dubai have doubled since 2021. Photo: Airbnb
Airbnb listings in Dubai have doubled since 2021. Photo: Airbnb
Airbnb listings in Dubai have doubled since 2021. Photo: Airbnb

What it's like to be an Airbnb host – by a six-year veteran


Dean Wilkins
  • English
  • Arabic

Unclogging toilets was not my ideal Saturday night activity when I was 21 – but since I had taken the plunge to be a landlord (more specifically, an Airbnb landlord), things like this came with the territory. So, ignoring 2am phone calls and going to a rave instead meant a five-star night would end with a one-star rating the day after.

Many will have undoubtedly been drawn to a report this week revealing how Airbnb listings have doubled in Dubai since 2021. “It is a lucrative business if you can get it right,” my colleague Neil Halligan wrote.

It most certainly is, if you don’t mind being the concierge, booking agent, cleaner, minder, chaperone, tour guide and complaints hotline, that is. Twenty-four hours a day.

What is hosting like without a middleman company?

I was an Airbnb host for six years in the UK and in that time I’d seen it all – different people checking out from the ones I checked in, every electrical item and light switch flicked on just before leaving, an entire suitcase of dirty clothes abandoned with a note saying: “Got carried away at Selfridge’s, free to a good home.” I still wear one of the hoodies today.

I joined in 2012 and was the first person in Manchester to list an entire apartment. It was so long ago that the company (now a $230 billion Nasdaq darling) was still finding its feet and used to invite me to meet them for overpriced coffee and networking catch-ups to ask how I was finding it.

Silicon Valley-style jargon of “crunching the data” to “optimise the end-user experience” was thrown around. I can’t remember exactly as I didn’t go.

This was well before the birth of middlemen companies that offer to run the bookings from start to finish – taking a heavy cut in exchange for light, if any, involvement from the owner. So all duties had to be filled by the landlord. Those looking to jump on the gravy train may wish to look beyond that “finfluencer” on Instagram sitting in a Lamborghini and telling you how he got rich by letting Airbnbs. There’s more to it.

Welcome gifts in the bin and full chickens in the oven

Firstly, this is a customer-facing job. You may think you’re normal, but the public is not. So if messages like: “Making a detour to the pub, going to arrive late, stay there and we’ll collect the keys in six hours, yeah?” or “Apartment too cold, got firewood. Where matches?” are likely to be a trigger, it’s best to avoid.

Many hosts run listings themselves, forgoing the use of middlemen companies. Photo: Airbnb
Many hosts run listings themselves, forgoing the use of middlemen companies. Photo: Airbnb

Secondly, be prepared for weird items to be left behind. A 36-pack of toilet rolls (minus five) was bought and left by a guest who stayed just one night. A whole roasted chicken sat in the oven, completely untouched though sweating in a rare warm Mancunian summer. A full load of clothing in the washing machine. An unsavoury amount of condiments, jars and oils used to cook merely one meal.

But it goes both ways – just as many items are lost, broken or chucked out. In the early days, while trying to impress guests in the hope of a glowing review, I used to buy posh jam (or what I thought was posh) and supermarket scones (taken out of the packet, so no one knows if they’re not posh anyway) to leave as a little “Welcome to England” gift.

I put them on a wooden chopping board for extra artisanal farmers' market vibes. I especially did it for those I knew were coming from abroad. Until one checkout, when I found the whole lot thrown in the bin by two research academics visiting from China – unopened posh jam and board included.

Complaints hotline buzzes at 5am

As any hotel concierge will attest, some guests love to moan. Most of mine had a particular knack for being vacuous whinge bags, as if I left an in-room phone with instructions reading: “Dial 0 to bleat.” But hosts live for reviews, so I had to act accordingly.

“Dean, the bulb in the bedside lamp has gone, please can you come and change it?” once rang a teary voice at 5am.

“Change it yourself,” I longed to reply.

“Righteroo, be there in a jiffy, madam,” I cooed instead.

“The iron burnt my shirt.” “I don't like the TV channels.” “I can smell the neighbour’s cooking.” “Why are Manchester’s trains always late?” “We can’t find the griddle pan” (like it’s a two-man job to find an item definitely not listed on the inventory, anyway).

On and on and on it goes. For check-ins, I'd always wait at the apartment for guests to arrive. After all, it was my own home, not something I bought specifically to rent out. I’d proudly show off the space, the quirky furniture, the spotless bathroom I scrubbed and diligently de-haired after every check-in. I’d bend over backwards to make it homely and share excellent insider knowledge of the city. They loved it, or so I thought.

How anyone can lurch between emotional states so quickly is beyond me. This was before Gen Z, too.

As soon as I'd be out the door those smiles quickly turned into riled demands – and back I’d go to get the welcome pack I pointed out five minutes earlier to type the Wi-Fi password into their own phones, run the tap until the water was hot enough for them, or provide directions and transport options better than Google Maps.

Finally, be prepared for competition. I was operating alone but still adopted the Ryanair model of sell it low, stack 'em high. For a fully furnished, fully equipped apartment that easily slept six, I charged less than a sorry two-star hotel nearby did – and half their rooms don’t even have windows. Occupancy was pretty much 100 per cent, but the latest report suggests it’s a little more than 50 per cent.

An Airbnb rating of 4.71 is akin to a B+.
An Airbnb rating of 4.71 is akin to a B+.

Then I realised greater peace came from prioritising longer-term bookings only, so I introduced a three-month minimum policy. And while it was bliss, the reviews dried up. And so did my love for it before I moved to Dubai in 2018. It wasn't all bad, of course. I ended with a 4.71 rating – I was 21, give me a break – and was probably one of the only millennial homeowners at the time.

Now there is greater competition for fewer guests – meaning those dreams of handing the keys to a middleman company and watching the pennies roll in while you relax on the beach might not be as close as you think. Many cities have also banned Airbnbs overnight completely or buildings refuse to let leaseholders run them, so bear those potential changes, and costs, in mind.

The only way to balance the books may be to grab the plunger yourself and get stuck in.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Results

Stage three:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Tom Dumoulin (NED) Jumbo-Visma, at 14s

4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

5. Joao Almeida (POR) UAE-Team Emirates, at 22s

6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s

General Classification:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s

4. Tom Dumoulin (NED) Jumbo-Visma, at 14s

5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

6. Joao Almeida (POR) UAE-Team Emirates, at 22s

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

All or Nothing

Amazon Prime

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Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

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Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

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ABU DHABI CARD

5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m​​​​​​​
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m​​​​​​​
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m​​​​​​​
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m​​​​​​​
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m

India Test squad

Virat Kohli (c), Mayank Agarwal, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rishabh Pant (wk), Wriddhiman Saha (wk), Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill

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Transmission: 6-speed auto

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'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

Charlotte Gainsbourg

Rest

(Because Music)

Updated: April 11, 2024, 6:53 AM