AirBnB Property Management: Should you Use one for Your Rental?

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A Property Manager

Airbnb property management companies have experienced tremendous expansion due to the rapid growth experienced in the Airbnb.

Over the years, these property managers have delivered great results for the hosts that engage their services.

The services of these Airbnb property management firms are now in high demand among Airbnb hosts, and this could therefore be attributed to the fact that Airbnb hosts are working tirelessly to improve the guests’ experience while on vacation in their apartment.

What every Airbnb property management firm wants to achieve is to build a formidable brand that the host can depend on while providing a world-class experience.

Consequently, creating a long-lasting experience for your guests can be herculean. 

So, as a host, you need to update yourself on what these property managers have to offer in other to level up with your guests’ expectations.

Therefore, the following are some of the features of Airbnb property management firms that can be employed under your peer to peer accommodation business.

Effective property maintenance-routine system.

Since Airbnb property management firm decides on behalf of the host, they must therefore ensure to work with licensed and professional vendors to deliver quality jobs at best prices and be available 24/7 to respond to emergencies.

So, there must be a prompt response from the property managers to inquiries from hosts or property managers to get maintenance work resolved timely.

Besides, maintenance should never be postponed or left till the next day as this can impact your ratings.

Strategic areas that need maintenance include; plumbing, fumigation, electrical fittings, paintings, cleaning, flooring, etc.

Well-articulated guest management and marketing plan

One good thing the property manager can do for property owners is to market the property. It is through this medium that money can be generated in other to settle their bills.

Airbnb property management scheme must draw out a workable marketing plan to constantly attract guests to the home.

Therefore, a workable marketing plan boosts owners’ revenue, making them delivers good reviews about the apartment, and ultimately make the business exciting and rewarding.

These property management firms also give professional counsel on proper pricing based on what is obtainable among competitors.

These firms must from time to time come up with programs to make the vacation home rental to stand out even when there is stiff competition.

In closing on this point, their result must convince the host that they can deliver a good return on investment (ROI) better than what the host would have been able to achieve.

Trust must be built.

Airbnb property management firm must be able to earn the trust of their clients. This can be achieved by taking care of the host business with due diligence and every sense of responsibility.

Firstly, systems and processes must be in place in other to attend promptly to emergencies. For example, the loss of a key by a guest. The company must as a matter of urgency send someone to the property to have it replaced.

Secondly, trust can also be built when there is ease of accessibility between the host (guests) and the company all around the clock. So, these and many more are what Airbnb property management companies do to earn the trust of their clients.

Also, this also applies to how money is spent. In other words, there must be a transparent reporting of all financial dealings.

There must be a monthly income/expenditure account statement.  It will also be good if the host can access these reports online.

This is the standard obtainable in the peer to peer accommodation industry.

The use of technology

You must come to terms that we live in a world of technology, which has made life easy for everyone. Property managers must engage technological tools in other for the need of the host to be easily met. For example, there is property management software to use.

So, this has made it important for Airbnb property management to be abreast of the latest trend in the technology industry. This will for sure put the host ahead of competitors

Display of some expertise

It is a known belief that any company that has not mastered its trade will soon fizzle out of business.

So, the need to be an expert. The property manager must be grounded on most issues like taxation, government regulations on a short-term rental, insurance, etc

They should make things easier for the host under their expertise. They also educate host on some grey areas in the industry. All these require expertise, meaning the company must be on top of their job.

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In conclusion

So, from this article, as an Airbnb property management firm, you need to up your game, build a strong brand, and help the host derive a good return on investment (ROI).

Also, as a host, you need to watch out for these signs before taking a final decision on hiring an Airbnb property management company. 

In you need help for understanding if you can afford the costs of a property management you can try to use my income predictor and decide if is convenient for you.