Airbnb is HIDING A Mountain of DEBT And Not Paying Hosts

Airbnb has been hiding a loophole disguised as a software bug to not pay hosts for a portion of their reservations. This could be more than a billion dollars of unpaid reservations and resolutions.

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Sean Rakidzich is an airbnb host with 100 properties, making millions of dollars a year on airbnb. Sean is the Lead Coach on Million Dollar Renter. He's an advocate for hosts and has helped 1000s of hosts survive the economic downturn spring of 2020.

[eliasmarunhelo]

Thanks so much, you just helped me recover a couple thousand bucks! I am super grateful that you took the time to create this valuable video.

[alinkosi]

Thank you Sean! I just realized they haven't paid me on a reservation from 2019. It's only $578, but if Airbnb is doing this to every host, this is a HUGE problem that will probably shut them down. Keep up the great content.

[christianratcliffe]

Thanks Sean! Followed your directions to a T and 1 hour later got 2 payouts that were owed to me from 2 years ago. Both were cancellations on the guests behalf. I never received the 50% booking rate from my strict cancelation policy. Airbnb did not hesitate to pay up.
I really hope we cross paths one day because I'd owe you a few beers!

[SteveF]

My account does not show any past payouts still in the upcoming tab. But I shared with a friend who has been on Airbnb for several years and he has 4 total payouts totaling just under $2000 that were not paid. One is from 2017, two in 2018 and one in 2019. Thanks for bringing this up. I will be reconciling what Airbnb says in both the upcoming as well as the completed payout tabs now on a biweekly basis.

[rebeccabelnap]

Thanks for letting us know. I looked and they are current with me. But it made me realize that I'm not as on top of my books as I should be. My books should have an open accounts receivable area to keep track of what is upcoming not just trusting that Airbnb will send me what it owes me. I've been lax on this. Time to run the business right.

[CodyBMcGuire]

I was considering investing in this company when it goes public. This is definitely something to reconsider.

[brandonfranke]

I have opened two separate tickets with Airbnb through this method and both times I've gotten the following responses from Airbnb's A+ customer service team:

Thanks for reaching out to us regarding this issue. I'm forwarding your inquiry to a member of our team who can better assist you. They'll be getting in touch with you soon.

Weeks go by, then the thread gets closed. All they do is pass the buck. If I could easily file a small claims lawsuit against Airbnb, I would.

[jakeskinner]

Your estimate of $400 per listing is pretty accurate on my portfolio of 11 units. They owe me Oldest is Mid-July 2020. After several weeks of asking they have finally sent me a message saying the payments are

[chezhelene]

Found a resolution from June. Small but still should be paid. Thanks Sean! Your vid's are on point.

[TaraKandece]

Shared this and told my hosts I work with. Thank you...very Interesting. I ALWAYS go over my bills and the sad thing is if you really start looking every company screws you over in some way. A little at first and then when you aren't looking a new fee will be added or they will go up. Or charging you for a service or device you don't have. It's sad. Then you try to get in touch with someone and it's impossible. Ugh...lol. Drives me crazy.

[heinz]

I've done Airbnb hosting for a good six or seven years and they seem to be getting more shady each year.

[mikelifeafar]

I do use google sheets and have been reconciling every airbnb payout with the booking amount since 2014. My airbnb account has two transactions worth $550 that are showing haven't been paid in 2018. I check the 2018 spreadsheet and sure enough a comments that this had not gone through.

[creativepropertysales]

you sir are a bloody genius!!! 1k here they hadn't paid out!!! Love you man!

[oilworksbymaleemaleesimpso]

What bothers me is that they combine payouts so you have to go and do the math to make sure you’re getting the right amount for each payout.

[LiveLetThrive]

Wow! Definitely looking into this today.

[chinafunrestaurant]

This video alerts me to check my transaction history. I surprise to realize there were three “upcoming payouts” in June and July 2018, and they were not been paid yet. I contacted Airbnb in October 2020, but I still could not get my money back until today. They always ask me to wait. It’s been three months since Airbnb created my ticket, idk how long do I need to wait. Do you have any suggestions, please? I appreciate any pieces of advice!!!

[anina.von.wachtel]

I reconciled accounts two weeks ago to find I hadn’t been paid for two resolution cases, both over two month in the past. The case manager first dropped a standard, check your banking details are correct, message. However, once I sent a screenshot of the payout email I had received confirming payment was going to come, the outstanding transfers were sent the next day. I reconcile on a weekly basis now.

[ai--the-win]

Airbnb counts on the fact that hosts won’t file for arbitration. Until the COVID-19 refund fiasco, very few hosts exercise to the right to file arbitration for these types of issues. If you don’t know how to work the arbitration system on your own behalf, you are at a severe disadvantage. It should be part of your short term rental business model if you plan on continuing use of Airbnb.

[myshorttermhome]

I’ve been hosting for over 4 years and never had this payout delay issue until last year. Since I found the first one, I’ve checked periodically and have to harass Airbnb to pay up. You reminded me to check again. $250 more just sitting there. Dirty biz practices. VRBO is so much better for hosts.

[laurihines]

Another great post with such important information. Thank you Sean.