Airbnb management companies are designed to provide quality services to rental owners to solve business problems. Clients of such companies are the owners of real estate, who have several objects. Read more about such companies on MasterHost.
Table of Contents
- Advantages of Cooperation with a Good Company
- What are the Risks of Working with a Bad Airbnb Management Company?
- What to Look for in the Process of choosing an Airbnb Management Company
- History of the Company in the Network, Positive Feedback on Cooperation with the Company
- Transparency of Reporting on Expenses and Financial Results
- Process of Automation
- Services of Experienced Lawyers
- Care of Guests
- Availability of an Effective System of Real Estate Maintenance
Advantages of Cooperation with a Good Company
To effectively manage all the affairs of the lease, the owner needs to know much and have time to do a lot. Few people can manage it. After several months of torment, the owners come to the need to give the business or some part of it to the management company. Such cooperation has the advantages of:
- creating a consistent listing;
- high-quality photos;
- permanent concierge service;
- meetings, accommodation and seeing off guests;
- organization of excursions;
- assistance to guests in transportation of things;
- establishment of optimal prices;
- creation of comfortable conditions for guests;
- provision of services for cleaning, washing and maintenance of the property.
All these tasks the management company solves around the clock seven days a week. Periodically, the owner receives reports on financial expenses, the dynamics of growth or decrease in profits, indicating the reasons. The cooperation with the prosperous company often makes vacation busyness successful, rises it to a higher quality level. There is no need to waste time, trying to delve into all the subtleties of the tourist business. Entrust the matter to professionals and live quietly.
What are the Risks of Working with a Bad Airbnb Management Company?
The success of doing business on short-term rental vacation depends on the responsible attitude of the management company to the obligations undertaken. Negligent attitude of the team to work, inattention to the needs of guests, disorder in the premises will lead to negative reviews. Ultimately, if you do not take urgent measures to correct mistakes, you can lose business.
What to Look for in the Process of choosing an Airbnb Management Company
There are many management companies on Airbnb. They can’t perform their obligations to property owners equally well. Make the right choice by studying the main characteristics of management companies.
Airbnb offers two ways to pay for services:
- A fixed monthly rate, independent of the number of bookings.
- Percentage of the owner’s earnings during the month. Depending on the package, the commission may be 12-40%.
At the end of the month, the company may demand the cost of additional services that it has provided. Make sure that these services are present or not in the contract. Choosing between payment methods is not easy. Evaluate which one is more profitable for you. When signing the contract, provide for the opportunity to change the payment method.
History of the Company in the Network, Positive Feedback on Cooperation with the Company
Some management companies appeared a long time ago and have gained positive experience in the field of tourism. Study the history of the company on the Internet. Find out how many properties are referred to and where they work. Guest reviews are one of the decisive factors that influence the choice of the company. Take a closer look at the new companies. Young energetic leaders are able to choose a workable team of professionals. Guests write enthusiastic comments about such companies.
Transparency of Reporting on Expenses and Financial Results
Transparency in the conduct of financial transactions and regular reporting increases confidence in the management company. Choose a team that uses quality software or an application to track financial activities. The company must prepare income reports for a certain period, the size of the commission, the services rendered. Attempts to hide money from the owner undermine the credibility of the company.
Process of Automation
Modern business is hard to imagine without software. Cooperation with companies offering high-quality software indicates a serious attitude to the matter. Pay attention to the fact that several processes are automated. The software can provide the following services:
- management of many accounts on one interface;
- combine messages from different platforms in one email box;
- improving guest communication with templates;
- automation of sending feedback;
- organization of cleaning;
- team and task management;
- direct booking management;
- payment processing.
The software allows you to get reports on business results in a few minutes.
Services of Experienced Lawyers
Professional legal support is another success factor. The presence of specialists in international law is a great advantage. The company must have lawyers who know the local legislation regarding the conduct of tourism business and taxation. Ideal when the team has experts living in the area.
Care of Guests
The tourism industry is always faced with the main task – to provide guests with everything they need, to make the rest comfortable and pleasant. This involves taking care of travelers around the clock. The management team is responsible for the safety of guests, leisure, quiet accommodation in the apartments, providing full conditions for a sound sleep. Employees of companies have to engage in screening, in order to identify unreliable guests who require increased attention. Employees of companies should protect decent guests from aggressive neighbors.
Availability of an Effective System of Real Estate Maintenance
Property service has a great influence on the mood of customers. A person who is on vacation wants to spend time in a clean room, where they regularly do wet cleaning and ventilate. The effectiveness of this work depends on the professionalism of the cleaning company, which attracts management. There are emergencies in rental properties. The management company should immediately respond to such cases, take emergency measures.