A top-level short-term rental enterprise requires a specific degree of commitment. As a host, you have to ask yourself if you’re up to the task and what resources are available to you. An option you can consider is hiring a property manager to oversee your vacation rental.
Property managers can save you lots of time, stress and energy. Perhaps you prefer to have full control over your Airbnb, but you may soon find out that quality property managers can effectively take care of your vacation rental and even enhance it.
What exactly does a property manager do? Here are some of the tasks a Great property manager can run on your behalf:
- Create an Airbnb profile and listings
- Respond to guest inquiries and handle communication issues
- Coordinate maintenance and cleaning
- Replenish consumables (toilet paper, soaps, garbage bags, etc.)
- Monitor your calendar and rates
- Create a check-in experience and a digital guidebook for the guest
- Key management
- Monitor guest reviews
You may be thinking you have already created a neat system for those tasks. So here’s a closer look at the benefits of hiring a property manager for your Airbnb.
Professional Knowledge, Expertise and Resources
Professional property managers have a better grasp of the market. They understand rates and trends and understand the more technical procedures of managing short-term accommodations.
They have access to high tech management tools and are attached to the top tradespeople in the area. They’ve seen all types of guests and have instincts on how to give each one experience.
Optimize your income
A successful property manager knows best how to maximise your income ratio. Their understanding of pricing trends and market conditions allows property managers to deliver more bookings.
Proactive communication
This is the key to managing an superb vacation rental enterprise. Whether it’s communicating with maintenance or guests, your property management can handle communication on your behalf. They’ll also be able to keep you updated on your Airbnb, whether it’s”great” news or”bad” news.
Paperwork and legislation
An effective property manager will run and provide inspection reports. They’re also aware of the key legislative matters and updates, ensuring your vacation rental is meeting the right and best standards. And, should any issues arise, they’d be able to advise you, represent you at the tribunal and mediate for you.
Now if all those benefits sound great to you, the next question you might have is,”How much does a property manager cost?”
An Airbnb or vacation rental property manager typically charges on average 15 percent of your nightly rate to manage a Airbnb that is listed full time.
Charges may nevertheless vary and your property manager could charge as low as 10% or as high as 20%, depending on the services offered as well as the size, location and age of the property. Charges will also depend on the range of services you are personally searching for.
If you’re ready to hire a property manager, you will want to find a person who has your best interests in mind and understands your goals. Here are several important questions to ask when interviewing property managers.
- How many vacation rentals are you managing?
- How do you market vacation rentals?
- What documented systems are in place for property management?
- What is your procedure for dealing with repairs and maintenance?
- How frequently will you inspect my property?
- Can I have online access to my information?
- What references do you have from satisfied clients?
- Do you provide an experience guarantee/promise?
- Do you have documented expertise standards?
- What back-up staff are there in the event my property manager is sick or on holidays?
- How frequently are you going to communicate with me, and what form will it take?
- Can you only call me if there is a problem?