Managing short-lets is very time consuming, we tell you what to look for in an Airbnb Management Company.
What is Airbnb Management?
Airbnb has become very popular, many hosts I talked to agree that they would rent out more often if they had more time at hand.
We all know that managing an Airbnb property can be very time-consuming. If done on a full-time basis, you are looking for up to 40 hours per month, a considerable time commitment.
As most of us are quite busy juggling jobs, family and friends, we may not maximise our opportunity on Airbnb. But that should not stop you from maximising your income! There are plenty of Airbnb management companies that can take on the day to day management for you. Pass the Keys is one of the leading Airbnb Management companies, operating in 10 cities across the UK.
What to look for in an Airbnb Management company
First, I would recommend looking at the areas the company covers. Many companies cover certain postcodes, and if your property is not in Zone 1, they may not be able to take it on.
Secondly, take a look at the services offered. The services are very similar, i.e. covering guest communication, cleaning, providing linen. But there are some differences in additional services that you may not require, such as re-decorating a home.
Thirdly, be sure to understand the fee structure, what you are expected to pay for upfront and on an ongoing basis. Upfront costs can include installing a key-safe or smart-lock, taking photographs of your home and creating a listing. But there can also be less obvious costs that are good to be aware of such as a fee for short-term cancellations if you as a host cancel guest bookings or if repairs are required.
It is good to have an idea how hands on you would like to be, do you want the Airbnb Management company to take over everything from guest communications to all repairs or are you just looking for someone to manage bookings, clean and optimise prices?
Finally, it is all about trust and the fit between you and the Airbnb Management provider. Does their service cover your needs and do you trust the company to manage your property.