5. management companies
As short-term rentals have become more popular, so have management companies catered specifically to Airbnb and other platforms. While they take a large chunk of your earnings, a management company may still make sense for you.
When choosing a management company, make sure they have a good reputation as hosts on Airbnb and that the company is managed professionally. Accept nothing less than a verified Superhost with no less than a 4.8 rating.
Managers can be a good idea, but they can often neglect your listing in favor of others. Cleaning and communication may suffer if your management company is not professional and detail-oriented.
Make sure your payment agreement and everyone’s responsibilities and expectations are clearly spelled out in your contract. These should include:
-
Communication: message turnover time
-
Cleaning checklist
-
Communication of problems
-
Who is responsible for cleaning
-
Who is responsible for cleaning supplies
-
Who is responsible for maintaining the calendar
-
Who is responsible for maintenance requests
-
Who lets in contractors
-
Who pays bills
-
Who does the laundry
-
Early check-in, check out, luggage requests
-
Binder/website maintenance
-
Payment
-
Hours
Expect nothing less than five stars for every trip on your listing and make sure you follow up with the management company when a guest complains. You are paying the management a large percentage of your earnings for their services and you should expect nothing less than perfection.