Airbnb boasts over 7 million worldwide listings in over 220 countries and over 100,000 cities.
A platform with that kind of reach is an ideal spot to list your vacation rental.
The average monthly income for an Airbnb host is $924, and almost half of Airbnb hosts bring in over $500 a month for the rentals. You could earn a lot more, depending on the size, location, and amenities of your rental.
An Airbnb management service can take the work out of renting your space. Choosing the right service is key to giving your guests the best experience and maximizing your Airbnb profits.
Keep reading to learn 10 tips for choosing the best Airbnb property management company.
1. Check On Experience
How many Airbnb rentals does the company currently manage? How long have they been in business?
You want a rental company that knows what it’s doing and gets results. If it’s a newer company, look for reviews online to evaluate their quality.
Look at the experience of the people working there. Perhaps the company owner has personal experience with Airbnb rentals. Maybe someone with extensive commercial cleaning experience handles the cleaning aspect of rental management.
2. Ask for Listing Examples
If you’re hiring a management company that creates your Airbnb listings for you, ask for examples of their work. Check out any current listings the company created.
Look at them from the perspective of an Airbnb user. If you were looking for a rental, would the listing make you choose that property?
Good listings include the following:
- Professional-quality photos
- Multiple photos from different angles of all rooms
- Detailed information about the property
- Engaging descriptions that get you excited about the property
Having a strong listing is your key to getting more bookings, which increases your profits.
3. Consider the Services Offered
Not all Airbnb management companies offer the same services. Some may offer just management of the listings. Others might create listings, take photos, manage guests, handle payments, and clean your rental for the next guests.
Consider how much you want the company to do for you. If you’re not local, you likely want a comprehensive management service that handles everything.
You may just want someone to handle the cleaning services. Having a clean vacation rental for your guests helps you make a good impression and get better reviews. That positive press may help you get more bookings in the future.
4. Look for Something Special
What makes this company unique compared to other management services? The thing that makes a company different could be the thing that sells you on choosing that service.
One example is a local company. If the management service is based locally, they know a lot about your area, so they can sell it well to potential renters. They’re also easily available if a problem comes up with the rental.
Maybe the company excels at Airbnb cleaning services. This specialty can be particularly beneficial to your guests because it gives them an exceptional experience.
5. Understand the Agreements
Review the management contract before you agree to anything. Read through every section of the agreement to make sure the arrangement is beneficial to you. If you sign something you don’t read thoroughly, you may find out the hard way what you agreed to.
6. Ask About the Costs
Get details on the cost of managing your property to help you accurately compare the management services. Most use a commission structure where the management company keeps a percentage of the revenue.
Compare the percentages each company charges, but don’t forget to look at what you get for that amount. If a company charges more, do they give you more services than a cheaper option? Do you need those services, or is it better to go with a more affordable option?
Go into the agreement knowing what you expect to get from each night your rental is booked.
7. Check on Communication Methods
The point of hiring a management company is so you don’t have to handle the rental yourself. But that doesn’t mean you want a completely hands-off approach. You should still want to know what’s happening with your rental property.
Ask the management company how they communicate with property owners. Find out how often you can expect to hear from them and what kind of information they’ll provide.
Do they send monthly reports on the rentals? Do they contact you right away if a guest has an issue?
8. Ask the Right Questions
Digging a little deeper helps you determine how the company will help you get more bookings.
Ask how the company promotes listings. Having a great listing to start helps, but active marketing helps increase your bookings, which equals more money for you.
Reputation management is another issue. Ask if the company handles responding to negative customer reviews.
If you have any concerns or need more clarification as you talk to the management company, ask those questions right away to clear up the issues.
9. Determine How They Handle Problems
Airbnb rentals sometimes come with issues. Maybe the plumbing gets backed up or the air conditioning stops working.
Make sure your management company is equipped to handle those problems. Find out the process for dealing with issues that happen when guests are in the home. You want your guests to have the best possible experience so they’ll give you good feedback and possibly stay with you again.
10. Request References
Management companies can tell you they’re the best, but you want to hear that from their past or current clients. Request references for their management clients, and contact them to find out more information.
If you have specific needs or concerns, ask the references how the management company handles those things. Ask about their overall satisfaction and if they would recommend the company. Find out how the company handled problems that came up.
If a reference is a past client, ask why they’re no longer using this management company. They may have decided to self-manage, or perhaps they no longer own the property. But there could also be a reason the management company no longer works for them.
Choosing An Airbnb Management Company
Choosing an Airbnb management company doesn’t have to be stressful. Do your homework to find a company that offers the services you need at a price you can afford.
Are you ready to hand over the management of your rental property?
Magic Helpers is a reputable, well-known service provider, managing projects with the utmost care our clients have come to expect. We take care of your home as if it were our own.