Whether you’ve been hosting for a while or are just starting to look into becoming a host, you might have noticed that many property owners use an Airbnb management company to handle the day-to-day tasks that go along with maintaining a vacation rental home.
These companies can be costly, but are they worth the price? Here’s what you need to know about what Airbnb management companies can do for you.
What Airbnb Management Companies Can Manage
Airbnb management companies deal with a lot of the minutiae of operating a vacation rental property, including:
- Rate optimization
- Customer service
- Check-in assistance
- Maid and laundry services and/or management
- Listing management and marketing
- Property inspection and maintenance
- Damage repairs
These companies can help you secure more bookings by improving your listings as well as providing 24/7 assistance for your guests. For many, this is a convenient way to make passive income from your rental property without having to deal with a lot of the downsides that being a host can entail.
Do I Need an Airbnb Management Company?
Although useful, Airbnb management companies aren’t right for every property owner. Here are some factors that might come into play when deciding whether you want to take the plunge:
- Price: Airbnb management companies typically take a percentage of the nightly profit from your property as commission, usually around 10-20%. You’ll have to consider whether this works for your budget.
- Proximity: If you live in another city or state from your rental property, it might give you peace of mind to have a local company to manage your rental property. If you live in town, it might be easier and more cost-effective to do it yourself or to hire an assistant to help you out instead.
- Skill: Many people are just not good at maintaining their listings or marketing their rental properties. In this case, you might actually be losing money without an Airbnb management company to help boost your business.
- Local knowledge: Out-of-state property owners might not be as knowledgeable about the area as a local property management company. In this case, the company is better equipped to answer guest questions and assist them if the need arises.
If you decide that hiring an Airbnb management company is right for you, here are a few to consider:
It’s important to do your research and choose an Airbnb management company that works for your budget and provides service in your area. You should also read client reviews and testimonials to make sure the company delivers what it promises. When you do find the right company, you’ll likely find it to be a great partnership.
A property manager can give you peace of mind and take many tedious responsibilities off of your plate. Ultimately, the decision to use a property management company is up to you, but many hosts find that it’s more than worth the price. If you’re burnt out on the daily management of your rental company and struggling to keep up with hosting duties, hiring a property management company can be a game-changer.