How to select an Airbnb management company
If you’ve decided that using the services of a professional property management company makes sense for you, the next step in being an Airbnb rental property owner is finding one that you can trust. So how can you find the best short-term holiday let management company that’s the right fit for you and your investment property? How can you find the best Airbnb property management company on the Sunshine Coast? If you’re wondering how to begin, here are some suggestions for finding the best Airbnb management company for your holiday home and profits.
All Airbnb management companies in your area can be found with a quick internet search. It could be a good idea to keep organized notes to make comparisons easier. Compare the information on their websites. Make special note of what makes them unique, how personable, and transparent they seem, while ensuring that they can provide the services you need.
Look at their social media profiles and online review sites as well, a great source of information can come from the Airbnb website. Check the company has an official profile and look at the property listings that they are currently managing. Are their listings up to the professional standards that you would want for your property? Check guest reviews and consider how they reflect on the property management.
Things to check:
- Are they an Airbnb Superhost? What is their Airbnb customer response rate? This demonstrates the quality of service that they deliver to their customers.
- Check their references, both customer reviews (on Airbnb) and owner testimonials (their website or google my business).
- How are their other listings presented? Always preference quality over volume.
- Are they a licensed Real Estate?
- Make a list of their services, what is included within their fee? It is advised that you consider not just which services are covered, but that special attention is also allocated to how each of these service inclusions is delivered.
- Have a look at their social channels, are they active, what type of content do they generate?
You can learn a lot about how an Airbnb property management company treats guests by reaching out to them yourself. The best property managers respond to queries promptly and comprehensively. If possible, make time to meet them in person or at least arrange an online meeting to discuss what they can do for you. Beforehand, make a list of essential questions. Topics could include:
- What are their fees? Cheaper isn’t always better, do they generate superior returns? Are there any other costs that you should be aware of?
- What is their background and experience? Do they understand accommodation, tourism, and hospitality? Are they service driven?
- Do they have a good understanding and knowledge of the local Airbnb market? Do they understand the Sunshine Coast as a travel destination?
- What is their level of engagement with your property? How frequently will they attend your investment property, unlike a traditional rental where a quarterly inspection may suffice, an Airbnb Manager should have frequent contact with your property.
- What systems do they use? To maximise returns and deliver a superior service to guests it is recommended that your Airbnb Management company uses property management, channel management and pricing software at a minimum. These systems allow a property to be easily managed across multiple distribution channels (like Airbnb, Booking.com, VRBO, and others) to improve property visibility. Pricing software ensures that the company is dynamically yielding your asset to maximise its returns through optimised occupancy and rate. When talking to your potential Airbnb Management Company you should ensure that they also have an understanding of yield management, a software tool (even one that can be automated) is only as good as its operator.
- How do they facilitate their cleaning services? There are many viable solutions to this however it is important for your Airbnb that the cleaning solution is tailored to the standards required for a holiday home. How is linen managed?
- What is their business model? Do they have a vision or unique service driven ethos? What additional services do they offer?
- What is their availability to guests? The answer to this should be 24/7.
- Do they use trust accounting to manage disbursements? Trust accounting offers you transparency and peace of mind.
- You could also present them with hypothetical scenarios to see how they would manage them.
Read their contract
When you think you’ve found a short-term holiday let property manager that you can trust and that meets your requirements, take time to review the contract. At this stage, it could be a good time to get another person to look over it with you. Check that you are clear on the services provided and the fees that you will pay. These should be broken down clearly for you and if there’s anything you are not sure about, address this with the company. Check whether the contract locks you in or if you are free to leave anytime if you are not satisfied.
Review their performance
Once you’ve decided on a particular Airbnb management company, review their performance regularly. The best property management companies should provide you with regular information about your property. Keep an eye on your property’s listing and your guests’ reviews as well. Maintain communication with your property manager and let them know how they’re doing.
More about our Airbnb management services can be found here
Our Airbnb management profile can be found here