Everything You Need to Know about Airbnb Property Management
Thinking about getting a little extra money out of your vacation home? Airbnb has really made it easy for anyone to dip their toe into the waters of the vacation rental industry.
The thing is, managing a rental property can be a lot of work. So, does it make sense to hire a property manager? Or should you just try a property management software?
Do you really need a property manager?
Our answer is a resounding maybe. Airbnb properties are all very unique so the amount of work that goes into them varies a lot. For example, if you're renting out your basement suite then performing some of those property manager duties, like maintenance, ensuring everything is clean, communicating with guests are going to be fairly easy since you're living on the premises. But if you're renting out your mountain house that's three hours away, then those tasks are going to be a little more complicated for you to manage logistically.
What to expect from a property manager
So you think you need a property manager, but you're not sure exactly what you'll be asking them to do? There are definitely different levels of property management and the more responsibility your manager has the more expensive the service will be. Some common property management duties include:
- guest communication
- managing cleaning and maintenance
- listing the property
- marketing the property
How to find the right person
You wouldn't hire a real estate agent—or any other home professional for that matter— without doing some research and interviewing them first and a property manager is no different. This person can make or break the success of your rental property, so it's important to get it right.
Ask lots of questions
and by a lot of questions, we mean a lot. If your property manager is worth their salt, they'll be happy to answer them. Here are a few that should be on your list.
- Do you have experience with this type of rental?
- How many properties do you currently manage?
- How many have you managed in the past?
- Do you have a license or any certifications?
- What is included in your fees?
- What do you consider extra?
- What is the best way to communicate with you (email, phone, text, etc)?
You can ask all the questions you want, but you should always double check that the answers are true. Ask if your potential property manager can provide you some references and be sure you follow up with them!
Check their work
If your property manager has any current listings, ask if you can see them. Check to see how the properties are being marketed and whether or not they're well maintained.
If you plan on marketing your Airbnb listing on multiple platforms, it could be helpful to invest in property management software. These types of software can have major benefits, like:
- Manage listings in multiple places
- Keep all your communication in one place
- Automate tasks like billing, etc
- Keep your records in one place
Trying to figure out which software tool to use? Check out these great options.
Guesty is a tool short-term and vacation rental property managers. They charge on a per-booking basis as opposed to monthly or annually, which might be appealing to some Airbnb hosts. Paying per booking guarantees you're only paying when you're making money, so you won't get stressed about your Guesty bill during your slow seasons.
iGMS is a vacation rental software system that helps automate your short term rental business. It comes complete with a smart messaging system where you can manage messages from all your different channels, management tools for your team and cleaning crew, and lots of automation tools built right in.
Tokeet has some great features, but our favorite is its dynamic pricing application. You can use it to make sure you're getting the most revenue for your rental. Some users have reported a 30% revenue increase!
Airbnb Platform: Don't forget that Airbnb has some of these tools baked right into it. Before you spring for something new, check to see if you can meet your needs with what you already have!
Hiring a property manager or using management software are both good options! It all depends on how much work you want to do yourself.