Airbnb is a fantastic tool that allows anyone to let their spare rooms out, whether it’s an entire property, house share, flat, boat, and any other type of space. Naturally, there are terms and conditions laid down by Airbnb that govern the quality of bedrooms available, but they essentially allow anyone to become a property manager to bring in a little revenue. However, the competition on Airbnb is enormous, and many “hosts” struggle, which is why Airbnb property managers can be beneficial.
What Does an Airbnb Property Management Do?
As the name suggests, an Airbnb property management company will take full control of an Airbnb property. This will involve maintenance, tenant selection, advertising, and anything else that sits within the property manager's remit.
Is an Airbnb Property Management Company Worthwhile?
Airbnb property managers like UpperKey can be the perfect solution for busy property owners or landlords. However, it won’t be suitable for every Airbnb host, especially if this is their primary source of revenue and they enjoy autonomy in their working life. To help you make the decision, we discuss the advantages and disadvantages below.
Advantages of Using a Property Management Company for Airbnb
Below are just a few of the advantages of using a property management company like UpperKey to manage your Airbnb.
Property Maintenance is Taken Care of
Managing an Airbnb property involves appealing to potential guests, making them feel comfortable, and leaving them satisfied. Naturally, doing this involves a fair amount of maintenance, which you must pay for regardless of how many guests you’ve had recently. Unfortunately, the burden of property maintenance can become unnecessarily heavy against the feasibility of being a host. However, an airbnb operator can take this responsibility away, allowing you to sit back and reap the rewards.
Rent is Guaranteed
Being an Airbnb host can be lucrative, but you need to have a steady stream of guests, as you need to afford the mortgage and other costs regardless of how busy you are. However, if you choose to use property management Airbnb services like UpperKey, you will find that many of them have a rental guarantee scheme. This means that the service provider will ensure you receive payment whether the property is occupied or not.
Rules Are Always Followed
Depending on where your Airbnb property is, you may have to follow local regulations. For example, in London, there’s a 90-day limit on how many days per year an Airbnb host can let out their property. Naturally, this can be tricky when it comes to paying the bills, as you’ll want to get the right clients in at peak times. Fortunately, property management companies are experts at following local regulations and getting the most out of properties.
Guests are Vetted Properly
Whether you’re hosting guests in your own home or an owned property, you want to ensure you’re getting the best quality clients that will respect your property. After all, maintenance is challenging enough without having to fix things like holes in the walls caused by guests. Luckily, a remote airbnb management company like UpperKey will have an expansive network of reputable guests, which will give you peace of mind.
Your Listing Will be Visible
When potential guest searches Airbnb for a property, they will be shown everything that matches their search, and there’s enormous competition out there. Therefore, it’s important to make sure Airbnb ads are optimised to suit the algorithm. If you don’t understand how this works, you may struggle to get your listing on the first page. However, a reputable Airbnb property management company like UpperKey will have extensive knowledge about Airbnb listing optimization.
Are There Any Disadvantages of Airbnb Property Management Companies?
Whenever you see advantages, there’s always a disadvantage lurking somewhere in the shadows. In this case, it all depends on the Airbnb property management company you choose to use. For example, if you align yourself with an inadequate service provider, they may make poor decisions and cost you more in the long run.
Using an Airbnb property management service will mean much less hands-on work. While this isn’t a disadvantage in itself, it may cause a problem for people who enjoy keeping busy and having a hand in their business assets.
The number of properties you have to manage can also become a disadvantage. For example, if you only have one or two properties, you may end up paying more than it’s worth. In cases like this, you should explore managing the property yourself.
How Much Does an Airbnb Property Manager Cost?
Nothing in life comes without a price, even if you’re having your rent guaranteed. Typically, an Airbnb property manager will take a cut of around 10%-25%. This may sound like a lot of money if your listing is fairly expensive, but then you need to take your mind back and remember all the benefits, which will help you more than realise the value of giving up a percentage of your income.
Insights on Hiring the Right Airbnb Management Company
When searching for Airbnb management companies near me, it’s essential that you make the right choice because you’ll be working together for some time. In most cases, choosing the right Airbnb property management company depends on your needs. For example, if you’re struggling to fill your property, you’ll want to make sure your chosen service provider is proficient in Airbnb marketing.
Making sure they can fulfil your needs is part of the equation, as you also need to have evidence of this. With this in mind, you should seek out existing client reviews to find out what their experiences are like.
Knowledge of the local area is another important aspect when it comes to succeeding with Airbnb, so it’s essential that the management company you use has extensive knowledge. When you’re narrowing down your search, don’t be afraid to ask them about the local area.
Customer service is an important part of any business, and you’ll become a customer of the property management company. Therefore, you should run a test to ensure that they’re equipped to deal with your queries in a professional manner.
Hosting on Airbnb can be challenging, especially when you factor in the cost of maintenance and the amount of competition. Fortunately, for anywhere between 10%-25% (on average) of your listing price, you can have your rent guaranteed while your Airbnb property is well taken care of.