Home rental app – How to create your own property rental apps like Airbnb & Mint
Real estate, a decade ago, had been seeing ups and downs in the market and has been catching up fire slowly for the past two-three years across the world. Even though buying and selling of lands or properties have not been given much focus but renting of houses, apartments, office space, etc. has always been on demand; thus, the real estate tech startups kick-started with introducing property rental applications catering to, both desktop and mobile users, those who often travel to new places throughout the world or relocate from one location to any new place.
A recent study shows that the real estate market size has been increased by million units since 2014 and is expected to show great growth in 2025. Asia Pacific, Europe, North America, and the Middle East and African regions have shown improvement in revenue by $50, $75, $98, and $260 million units, respectively.
Let’s see what stats says about Real Estate Market in the U.S
Moreover, the real estate market in the United States is also showing positive growth since 2008. The United States submitted a profit of $41 million upon the closure of just seven deals, whereas until 2018, the country has cracked the previous record of generating a total of $1.3 billion in 73 deals. By now, it should have crossed the aforementioned value as well.
With the immense increase in the industry, many rental apps can easily found in today’s market and many of them claiming as introduced for the easy-using purpose of people who want to find the perfect accommodation when they travel to a different place.
Multiple rental apps were introduced and many of them clicked well with additional fundraising. Among those apps, Mint House, an alternative to Airbnb, has received convincing increased funds from investors because of emerging numbers of travelers and the difficulty they face concerning accommodation.
Home Rental Apps At New York
Apps based out of New York such as Common, Roomi, Ollie, Flip, Bedly, Roam, and Mint app, have received total funding of $60, $17, $15, $3, $3, $3, and $15 million, respectively. Similarly, apps such as Starcity has raised its funding to $20 million and HomeShare to $6 million, is a positive sign of real estate and other investors encouraging the usage of these property rental apps to a great extent.
How Airbnb and Mint are different from other rental apps?
- Look-alike atmosphere: You cannot find even an airspace difference in the pictures of the apartment, the interior, and exterior shown in the Airbnb app when you tend to visit it personally. So, the facilities satisfy your expectations and you can have a good private time with your friends if you are coming as a group and would like to enjoy every minute of your stay.
- Amenities and services: Airbnb provides you a great feeling of stay in the apartment like a home away from home. You will be provided with basic toiletries, bedding, and cooking appliances. In case you want to cook independently and enjoy your taste of food during your stay, it even provides you the required amenities for the same. Anyhow, you will be offered room service as well if you order food with their in-restaurant.
- Price: Airbnb is quite cheaper than booking a hotel room and it is unsure if you will have all the facilities inside a closed room. Airbnb provides you multiple services and access to numerous facilities that amaze you throughout the entire stay at an affordable cost as you planned for your trip. If you wish to enjoy a perfect stay with services at your doorstep, then Airbnb’s price will not be a big criterion.
- Safety: Safety in the stay at apartments or rooms of Airbnb will surely impress you in a way that you will prefer only us upon every time of your visit. Especially if you are a female traveler, booking accommodation through Airbnb is the best choice without any compromise.
Manage your booking and stay easily: Once you book through the Mint House app, you can display the message that you would have received on your mobile and go to your destined place straight.
- Mobile-based check-in: Booking through the app avoids the waiting time at the reception during check-in and check-out if you have paid already through the app and allows you to rest from your long travel. This facility is not available in Airbnb; physical check-in is a prerequisite in Airbnb hotels or accommodations.
- Identify your suite by yourself: By booking through Mint, you get the key for your Suite and there, it reduces the dependency of someone from the property bringing the key and avoids any delay till the key reaches you. Right from the moment you get down at the airport, the app’s geo finder helps you identify the Suite and let you roam throughout the corridor independently.
Customized amenities and services: You have the privilege to choose the amenities and services according to your preference even after the check-in.
- Notification alerts: After every activity performed by the app users, an alert is sent to their mobile notifying the type of activity performed clearly in the form of a message. This will ensure users and their properties’ safety as a point of confirmation to both the users and the property owner.
- Automated checklist: Users are requested to update their proof of identity on the app during booking to avoid duplication. Also, after reaching the place, they will be provided an automated checklist to sign off to ensure the list of baggage or luggage they have.
Discounts and offers: Depending on the season, the app offers discounts and rewards, which you can make use of your current and next bookings if any within the validity period specified.
- Taxi service: With this service, you can book a taxi throughout your stay and need not look for outside cabs every time and spend time towards it.
Develop Home Rental apps like Airbnb and Mint
If you want to become a real estate tech startup by developing apps such as Airbnb and Mint, you can go through the list of required factors that follow:
Revenue models of travel apps such as Airbnb and Mint
Peer to peer network: This business model allows you to charge a commission from both sellers and buyers by letting the travelers book through the app and pay for rent. Overall, this model on your app acts as a mediator between travelers and property owners.
Advertising: In case your app develops huge web traffic, there are chances of others advertising on it and you can generate revenue because of that, or if there are multiple downloads of your app by users, then your app is automatically promoted and aimed towards earning revenue.
Subscription: You can even tie-up with other third-party booking apps such as flight tickets, taxi service, or a holiday package while using your app for accommodation or subscription.
Features that you require to develop an app like Airbnb or Mint
In a traveler’s aspect, you have to include features such as login/signup tab, manage account, search, filters, notifications, messages, favorites, booking, reviews, experience or feedback.
Whereas as a host cabinet, you will require features such as login (instead of creating an account, they can simply access the app features by entering their email address or Facebook account), profile, types of activities, listing, and reviews.
How much does it cost of developing apps like Airbnb and Mint?
If you are looking to step-in to the business of the home rental app, then you should be aware of the developing cost of a home rental app similar to Airbnb and Mint. For iOS applications, you may need to invest around $1300 that includes all the aforementioned features, whereas for Android, the estimation approximates to $1500 and for backend web services, you may require around $200.
Frequently asked questions
1. Will Airbnb alternative app be compatible with all platforms?
Yes, it will work. But it is recommended that you first implement on devices compatible with iOS and Android and then move forward to other platforms.
2. How much time will it take for developing apps similar to Airbnb?
First, a framework is needed as to how you want the app to be designed that includes the features to be brought in. Depending on that, take expert advice on the budget and timeline of creating an app similar to Airbnb. Otherwise, the market value for the mobile app development may vary from what you predict.
3. Is it possible to create an app similar to Airbnb within a budget of $1500?
The budget that you have quoted is the minimum amount that can be invested, to begin with. But you should be ready to invest at least some more money so that you need not compromise on removing any feature, which may not help you overcome the present competition. What you can do is, create the app with minimal features and as per the competitor analysis; you can add one by one feature depending on your funding.
4. Do you offer flexible hiring models? If yes, then please tell me more about that.
Yes, we have three different hiring models, Fixed, Time & Material and Offshore development center.
- Fixed Cost: It is the right choice for the projects that have specific development requirements and scopes.
- Time & Material: The engagement model allows you to pay only for the resources and time you use for the project.
- ODC: We set up an offshore development center and IT infrastructure for the ongoing project.