Choosing an Airbnb Management Company

Category : Airbnb

Do you have, or are you considering investing in an Airbnb property? Working with an Airbnb management company might be the ideal solution for you.

As the short-term rental sector continues to gain popularity, you may be curious if this kind of investment is the right next step for you.

There's no doubt that many investors are attracted to this sector for the cashflow. In 2021 alone the UK Airbnb market boasted a gross revenue of £2.4 billion, with London as the city with the most active listings in the world.

But the industry isn’t without its downsides. Airbnb management is very time-consuming, needing a lot more attention than most other property investments.

This is why working with an Airbnb management company is invaluable. You don’t need to sacrifice Sunday afternoons dealing with communications from guests, or organising a cleaner every week.

A management company is there to help you get the high returns you want, but without all the responsibilities that come with entering the short-term rental space.

But how do you choose a management company? This blog takes you through the steps of what’s involved with Airbnb management, and how to select the right company to do this for you.

What's involved with Airbnb management?

Airbnb management simply means keeping your Airbnb property in top condition, so you can keep attracting guests to stay with you again and again.

This is no small task. Here are just some of the areas you’ll need to manage frequently.

Listing management

Listing your Airbnb property on online booking platforms is an essential part of the management process. It gives your property exposure, but you can’t just leave it there.

Optimising your listing is vital to stick out from the competition – whether it’s the way your price your rental, or just the way you write about it online. These are areas you can’t afford to get wrong.

Continuous marketing

Marketing is an indispensable part of any type of business. Understanding the algorithms on booking sites to get your property attention is important, as well as making it look good online. Research on property photography, what elements you should add on listings and how to create overall great listings have the potential to make or break your occupancy rates.

Booking management

On-going communications, complaint handling, guest screening, answering questions, managing payments, handling check-ins, following up with guests, and just generally being available to guests before, during and after their stay. These all have a significant impact on bringing guests back.

Review and feedback management

Being responsive to any reviews or feedback you get (both positive and negative) can directly affect a guest’s decision to book with you. The way you respond is also important, and a management company knows just the right way to do this.

Inspections

Regular property inspections to check for any wear and tear avoids any issues with guests staying there, making positive reviews more likely.

Housekeeping

Booking professional cleans and linen changeovers is essential after every guest that stays with you.

Maintenance

Regular maintenance like making sure your property has electricity and hot water is important. This avoids any issues with guests and should be done after each turnover.

Utility and bill management

Getting your bills and utilities paid is of course an obvious, but essential part of Airbnb property management.

What can an Airbnb management company do for me?

An Airbnb management company is a team of experts that help you manage your rental or can even fully manage the running of it on your behalf.

The areas they help with depends on who you choose to work with, but many offer customisable services around your specific needs.

Then, just like on a traditional BTL property with a letting agent, you’ll be paid monthly along with a statement on booking information for that month – easy!

Why work with a management company?

Running an Airbnb comes with its challenges. Working with a management company means you don’t need to invest all your free time doing this, so you can focus on finding other investments, or simply having more time for your family or career.

A management company is also run by people who are highly experienced in property investments, with knowledge of the local area and the type of guests who will be booking with you. This experience leaves you less open to costly mistakes.

The small fee you pay a management company ultimately leads to more bookings and more money in your pocket.

How to find a management company

So how do you actually find an Airbnb management company to work with?

Google

A quick Google search goes a long way! Simply searching ‘Airbnb management in town’ will show you the more popular companies in your area.

Online Travel Agencies (OTAs)

Websites like  Booking.com and Airbnb are a good place to find a management company. Looking on these websites will show you who has multiple listings, and you can see for yourself if they’re of a good quality.

Social media groups

Groups on social media platforms like Facebook can give you good recommendations on management companies in your area. Just join your local groups and ask the members for recommendations.

How to choose a management company

Now you’ve done your research, you probably have a selection of Airbnb management companies to choose from. The one you pick really depends on your needs, so asking yourself some questions is helpful.

How many people work for them?

You should feel secure that the company has enough staff to cover every service you need.

How long have they been in operation?

Choosing a more established management company with a few years’ experience under their belt gives you the assurance that they know how to deal with all areas of management.

Are they visible online?

How many properties do they have on OTAs? Do they have their own website? See if they have any reviews on Google. This will all help you decide how legitimate they are.

Are their listings of a high quality?

Check their live listings on OTAs and see for yourself if they have an appealing description, high quality photos and all the information you need.

How many properties do they manage and for how many investors?

If you find they manage numerous properties for many investors, then they’re more likely to be trusted and able to do a good job.

What are their guest reviews like?

What are the guests that stay in their properties saying? Things like property location and parking management are beyond their control, but any issues with cleanliness or functionality are a red flag.

How well do they know your target area and guest profile?

How do they research the area and people you want to target? If they can’t give you a satisfactory answer, their system probably isn’t very good.

What are their fees and what’s included?

If you’re looking to shop around for the best price in line with your budget, then it’s a good idea to ask for a list of what’s included in their standard fees.

What are their payment terms?

How will they pay you? How often? Make sure this matches up with your expectations.

What will they still expect you to do?

Make sure you know how involved you will still need to be and if this aligns with what you want. Find out who will buy consumables, drop them off at the property, handle utility providers and so on.

What value add services do they offer?

Do they offer any services that you’d find useful beyond management? Perhaps you’d like some advice if you’re looking to take on a new unit, or maybe you could use some help with photography for your space. Ask these questions to save yourself time later on.

Could you see yourself working with them?

Last, but by no means least – could you see yourself working with them? The management company you choose also needs to be a good fit for you as a person and an investor. If you can, ask how other people found the experience working with them.

What is the typical airbnb management onboarding process?

You may be curious how much time you’ll need to invest in a typical Airbnb management onboarding process. The process can vary, but once you find a property, a management company will usually follow these steps:

  1. Property validated with market appraisal and initial quality check
  2. Contract issued & signed
  3. Instruction fee paid
  4. Introduction to onboarding team
  5. Key and access arrangement
  6. Setup & Staging and/or Photography
  7. Pre-launch checks
  8. Property listings created and live for bookings
  9. Photos and listing links sent to investor

Could The Right Property Group help you?

Renting out an Airbnb is a great way to bring in a bit of extra money each month. But – it's also a time-consuming investment that needs consistent management for the best returns. Working with an Airbnb management company really is a no-brainer when you look at the experience and maximised gains you’ll get in return.

The Right Property Group is here to support you every step of the way, with an existing portfolio of 100+ investors growing their income through our management services. Interested? Get in touch for a chat about how we can help you.

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