Owning your own Airbnb can be an excellent side hustle. The money you earn from guests staying the night in a room, or in your house while you’re away is an easy almost passive way to make money.
While it is a great way to bring in extra income, it may not always be the easiest. A lot of time and work goes into making your home as accommodating as possible. Not only that but the more hotel-like you can make your place seem, the better the reviews and tips can get. Those then translate into more guests, more revenue and so on and so forth like a circle of money coming in.
It can easily become overwhelming if you aren’t sure where to go, what to do or just need to spend less time running the Airbnb while you focus on other matters in your life. This is where an Airbnb property management company can easily come into play and help you out with your endeavors.
What is expected when you host an Airbnb?
While some guests simply want a warm safe bed to sleep in at night and don’t care about all the extra frills, others seek more options. They want someplace that can give them a home away from home feel while keeping up with the extra accommodations of a hotel so they can feel like they are truly on a vacation.
Airbnb standards and expectations are much simpler
According to Airbnb’s website, they want you to be responsive and provide basic amenities such as toilet paper, soap, clean linens, and a safe environment. These should be simple enough to do as they are standard procedure when you have non-paying house guests staying the night as well.
So in all, being a host of an Airbnb isn’t too demanding, as it’s tasks that are very understanding and easy to do. But when your Airbnb becomes popular, or you try to raise the quality of the living space so that you have more guests, reviews, and income, it can become overwhelming. When you reach that point in your Airbnb ownership, it then becomes like a business, and any business can be hard to run when you are a single person trying to do the jobs of many.
What if you are too busy to do the manual parts of hosting an Airbnb?
Well, that’s where an Airbnb property management company comes in to help. They offer Airbnb management services that help to take care of everything. As an optional service, you seek them out if you want or need help. You do not need to hire an Airbnb property management company if you do not want to.
You can hire them to help you out with your online presence. By having them make ads to promote your listing, you can get more attraction, bookings, and revenue.
You can also request them to help you out in person, perfect if you can’t physically be there to greet guests upon their entry. Airbnb management services can include that meet and greet, and communication with your guests. This is especially convenient if you have a job and can’t leave work every time someone is ready to check in or out.
Some Airbnb property management companies even include cleaning after guests have left! Which is probably the least exciting thing about using your home as an Airbnb location.
Using Airbnb management services can save you a lot of time and hassle. Allowing you to enjoy a more passive income that fits in with your schedule.
How much does Airbnb property management company cost?
Unfortunately, the cost of an Airbnb property management company costs more than the Airbnb host fee. At about an average of 15% of your nightly rate. The price can vary depending on a lot of factors, you’ll have to inquire with each one to see which Airbnb property management company is best for you. While this does cut into your profits and means you’ll make less money per night, it also helps to add a sense of ease knowing that you won’t have to do as much work.
Removing the stress of needing to make time to check guests in, check them out, clean and ready the place for the next guest is a huge burden to be lifted. Whether you choose to hire an Airbnb property management company to help you out or not, is ultimately your decision.
Airbnb Management Services Provided
Different companies provide different services to help you run your Airbnb with as little fuss and hassle as possible. Their job is to make things run much more smoothly for you, so it makes sense that they’d offer a diverse list of tasks.
Here are some popular Airbnb property management companies and the services that they provide:
This vacation rental management company helps to provide professional looking listings and handles the reservations. With charging 10% of your nightly fees, they are actually much cheaper than their competitors and they have excellent ratings and raving testimonial reviews.
Operating in several states, countries, and continents this vacation rental company is really great for helping you manage your home from practically anywhere. They offer virtual 3D tours of your home online so that guests can really get a feel for the place before booking. They even state that they can get you 21% more in your first year with them than you would anywhere else.
TurnKey is actually a pretty popularly marketed rental company and it is very likely you may have heard of them before. They offer a 24/7 local team to help you in person with your rental property. They also say that they’ll craft amazing marketing ads to get you more listing and publish them everywhere that counts, including bigger named websites where travelers may visit.
This property management company handles your home online and in person with their services. With custom created ads, marketing, professional cleaning and maintenance you pretty much cover everything leaving you with a hassle-free rental property. They even go so far as to meet and greet your guests so that they can discuss the rules of the property and make sure that it is treated right!
What you should look for in a good Airbnb Property Management Company?
Hiring an Airbnb property management company can be tricky. You want one that gives you the biggest bang for your buck and helps you to turn your Airbnb into a more passive stream of income. Someone that will allow you as much worry-free stress as possible. To put it more simply, you want a one-stop shop that you can rely on to make your life and Airbnb business easier.
So what should you look for in a good company?
You want a company that you can reach at any time day or night 24/7. Accidents and incidents don’t wait for the most convenient time of day to happen. More often than not, they will happen when you least expect it and when it is the most inconvenient. So being able to reach your property management company is a very important detail that should not be overlooked.
Having them be accessible through multiple streams of communication varying from text/email to phone calls is great. Whether you need the systems in place to be automated with simple responsive questions to answer or to be with a live agent are up to you. The most important thing is that they can have someone respond quickly to whatever the question or task may be.
You started the Airbnb to make money, plain and simple. If you didn’t want to make money, you’d simply offer a sign on your door inviting anyone to come and stay with you for free. While that isn’t the case and is truly unsafe, we can agree that you want money for your time, efforts and home usage.
Picking an Airbnb property management company solely based on their prices and looking for the lowest priced company is not the smartest choice. While some companies offer lower prices than their competitors, you should really compare the companies based on the services that they provide and not the price tag that falls with it.
A great Airbnb company might cost more, but with the services they provide they can free up a lot of your physical time, stress and land you more guests to stay at your home. More guests mean more money, and even with the company costing more, you could still end the year making more money with this property management company than you ever could have with a cheaper option.
You want an Airbnb company that isn’t afraid to communicate any details with you. Life isn’t sunshine and rainbows and issues will occur at some point. You need to make sure that the company you have entrusted your property with is capable of communicating any and all issues with you no matter how trivial they may seem. This not only helps to build trust but it also helps you stay informed of the going’s on in your home.
Your Airbnb will never be a huge success if you don’t have a great marketing strategy in place. While a lot of homeowners can figure it out on their own, a lot of work actually goes into the marketing to help boost your listings and get more guests. Things such as keywords, photos, and detailed listings are just the tip of the iceberg.
A good Airbnb property management company will know everything about making and deploying a great marketing strategy to help you get maximum guest bookings. You can be sure that they will put in as much effort as possible to get you bookings because you are paying them to do so. They don’t get paid until you do. So they are going to work their tails off to make sure that everything works and they can get paid too.
While newer companies can provide just as much good insight as an older one, you should look at which ones have the best knowledge overall. Older companies could be more set in their ways with little room for wanting to change and adjust to the times, hindering the profits you could be making. Newer companies could be unaware of the market changes and be unable to foresee changes and adjust accordingly. However, they could have been created by someone with experience from an older company.
Both ages have their own pros and cons. So don’t look to the age of the company as a guide, but rather the knowledge that they contain. You want a company that offers you advice on improvements you could make, lets you in on marketing tricks or can warn you long in advance if you’re about to enter a slow season. A company that not only helps you but also educates you in the process.
It’s also incredibly handy to find a company that is up to date on all the laws of your state and the taxes. This way they can help you to find relevant tax deductions for your expenses, maximize revenue and do it all legally.
Does it matter if your Airbnb property management company is local to you or your home?
Whether you are looking online for “Airbnb property management Los Angeles” or “Airbnb property management Miami” should the location of your Airbnb property management company even play a role in your decision making process for hiring the right company for you?
Having a company with a corporate office within a driving distance can be great, but a good Airbnb property management company can exist anywhere and still be available to you in person as needed.
They hire out to trusted local contractors to help with things such as cleaning and maintenance or with the in-person meet and greet as guests enter and leave your home. This doesn’t cost you extra and still helps to achieve the same results as if the company showed up in person.
Airbnb Property Management As long as your trusted company is available to you 24/7, is knowledgeable and trustworthy, you should be fine. Just make sure you really consider everything when selecting the best property management company and not just the one that’s best for your checkbook