Renting out your extra properties on Airbnb is a lucrative gig, but turning it into a successful business isn’t easy. Guest expectations continue to rise, and there’s enormous competition among hosts. At the same time, it’s hard to stand out and reach your property’s full potential without expertise in SEO, marketing, finance, and customer support.
Airbnb property management companies enhance your hosting capabilities. They manage everything, from booking and payment to check-outs and maintenance on your behalf, and charge a fixed fee or percentage. Some companies also have software tools for communication, marketing, and accounting.
So if you’re looking to invest into short term rentals, but don’t want the headache of managing all the details of your properties, read on to learn about the Airbnb property management companies that will do most of the heavy lifting.
Why Do You Need a Property Manager?
Listing your property as a short-term rental is easy, but managing the day-to-day operations, attracting customers, and keeping them happy is a different story. To get started, you have to list your property on Airbnb and other booking websites, create ads, upload professional photos, and set reasonable prices to tempt travelers.
But it doesn’t end there.
Even if you successfully gain your first customers through online marketing, you can’t turn a profit unless you maintain a near five-star rating. What’s more, planning your reservation schedule, handling guest communications, meet and greets, and cleaning between each stay are all time-consuming activities that require lots of effort.
Add the complexities of tax remittance, payment control, and financial analysis, and you’ll see how demanding the business can be. As a regular house owner, you probably can’t handle all of these on your own. After all, it’s probably not your main source of income.
So, you might want to hire a professional manager to do these things on your behalf. Otherwise, you won’t hold out in the business for long.
Choosing an Airbnb Property Manager
Airbnb property managers fall into two main categories:
- Traditional local providers
- Remote SaaS companies
Traditional management companies are usually local and provide full-package services, including property listing, marketing, inquiry management, knowledge base provision, and maintenance.
If you’re too busy with your primary job or live far from your property, these property managers are the best option for you. But keep in mind that they may ask for a big part of your income as commissions—sometimes up to 50 percent!
Modern property managers, on the other hand, are much more affordable. They either set a fixed price for their services or get a small cut—10 to 20 percent—of your rental gains. However, since they’re usually remote companies, they may not offer on-the-ground services, meaning you might need to hire additional help for property maintenance.
Their work mainly focuses on website promotion, scheduling, accounting, and marketing. As a-la-carte service providers, each of these agencies has its unique offering, so do your research before committing to one.
Here are other factors to consider while choosing a property manager:
- Do they offer services in your area?
- Do they have 24/7 customer support?
- Do they work with other booking websites or Airbnb only?
- Do they have a web-based or mobile app?
- Will you be involved in non-routine decisions (e.g., setting prices)?
Guesty is an online property management system available on Windows, Mac, Android, and iOS devices. So, it allows managing your guests both at home and on the go.
The platform offers 24/7 service and multiple automation tools to handle registration, payments, messaging, and other routine tasks.
You can add pre-written messages to communicate with your guests before, during, and post their stay. And automatically have cleaners tidy up the place when the rent period is over.
As a CRM application, Guesty lets you control multiple booking channels via a single dashboard and keeps all your records in one place, no matter how many or what travel agencies you use.
Besides, you can sync your portal with other service providers such as accounting software, house-cleaning apps, and OTAs.
A unique feature of Guesty is that it lets you build a custom booking website, creating your own rental business. So, you no longer need to pay a third-party channel to take in guests. Even if you already have a branded site, you can link it to their software.
Based in Colorado, Evolve is the second-most popular hospitality company in North America. For now, it offers services in Iowa, Kansas, Kentucky, Massachusetts, Louisiana, Delaware, Connecticut, Arkansas, Alaska, and Alabama.
However, we’ve seen them here in Washington as well as California as well.
They work with top listing platforms such as Airbnb, Booking.com, and Vrbo to market your house. And it uses several strategies such as overloading your calendar and seasonal discounts to lure guests and heighten your search rankings as well as reviews.
Using these methods, the company has successfully helped more than 14,000 homeowners earn millions of dollars through vacation rental business.
Not only that, but Evolve also charges you a cut-price fee of 10 percent. So, you can pad your pockets with profits while handing over your hospitality tasks.
However, despite its round-the-clock customer support, Evolve doesn’t provide maintenance services, which isn’t necessarily a bad thing because you don’t have to use their designated housekeeping partner. Instead, you can hire a cheaper service or do it yourself.
Vacasa is an all-inclusive property management platform that takes over every aspect of house renting, from housekeeping and communications to financial records, regulatory and tax management.
It provides 24/7 customer service and promises to grow your return up to 20 percent within the first year of cooperation. So, you can sit back and see the money flowing in your account with no effort on your part.
The company covers 17 states in the US and offers limited services in Europe. However, it receives almost half of your rents, which may seem unfair to some.
However, some of the more wealthy investors in our area don’t mind the split since they are usually getting paid much more than a long term renter and they don’t have to do any of the work.
Another low-commission manager, MyVR, is a user-friendly SaaS website that helps you create a rental website, improves your SEO performance, and converts your website visitors into genuine guests.
Other services include vacancy tracking, reservations management, auto-responding, online payment, and cleaning. The fee may vary depending on what services you choose, and there’s no one-fits-all program.
It has so many ready-to-use website templates to make a personal listing site for landlords and boost your income by eliminating intermediaries. It also features a centralized inbox where you can communicate with customers from various listing websites via phone, chat, and email.
One downside is that it’s only accessible through a browser, and you can’t install a PC or mobile version on your operating system.
The solution is available in different US states and cities such as Louisiana, San Francisco, Tahoe, New York, and Tennessee, as well as the UK, Australia, Canada, Mexico, and South Africa. So it works with multiple currencies and languages.
It’s another full-service software allowing Airbnb, Booking.com, HomeAway, Vrbo, and Trip Advisor hosts to automate their vacation rental business.
Luckily, it’s adaptable with all PCs, tablets, and smartphones, no matter if you use Mac, Windows, Android, or iOS—the only exception is Linux. You can also access the SaaS version via a browser.
The solution lets you assign responsibilities to particular teams, such as financial analysts, payment processors and reporters, cleaners, communication agents, and more.
The communication team answers your questions through live chat, email, and online forums. The automatic messaging tool is another time-saver that lets you handle your other responsibilities while remaining responsive to customers.
The price ranges between 1 to 18 dollars per month, depending on the number of features and booked nights. The company won’t charge you when you don’t have rentals. And it offers a two-week free trial as soon as you open an account as a short-term host.
Just like other providers on this list, Your Porter brings all your listings to a single account. But it only works with mobile devices; other than that, it’s a full-service manager that makes your life as a host pretty much more effortless.
It navigates all your calendars to plan an organized schedule, detects non-booked days, and then posts vacancy ads to attract guests. After that, it collects their check-in details by giving them arrival forms and ensures every team member has a to-do list to meet your customer needs.
Once their stay is over, the financial team sends invoices to clients right before it processes their payments. And at the end, it sends you a weekly report of customer reviews to inform you of their performance.
The platform is free for up to three weeks for newcomers and then costs you $5 per listing per month.
The Pro package offers more features in exchange for two more dollars. It includes message automation, customized booking website, Airbnb SEO tools, guest language recognition, and smart pricing strategies.
Airbnb and other vacation rental platforms have created great profit-making opportunities for house owners. However, if you want to stand out in this ever-growing competition, you have to outsource your property management.
Guesty is our favorite management since it offers both online and on-the-ground services. It charges you less than ten percent of each booking and optimizes your listings and reviews.
And finally, another solution is to hire a professional co-host who will handle all of the cleaning and details of your rental for 20-30% of the rental income. For more information on that, check out our guide.