Do you think it's time to delegate management of your short-term rental to professionals? Perhaps you are considering investing in an Airbnb property and are wondering who will manage it for you, or perhaps you have been hosting for a while and have discovered that human interaction is not for you.
Short-term rental property management services enable you to earn hosting revenue from your Airbnb or vacation rental property without having to deal with day-to-day property management.
Many vacation rental property managers offer 24/7 availability to both property owners and guests, cleaning, property maintenance, and the promise of keeping your calendar full of bookings. Having the right property manager on board can result in a higher average occupancy rate and higher average nightly prices for your Airbnb.
All of this, however, comes at a cost. Airbnb and vacation rental property managers charge hefty fees for their services, with managers frequently taking 20-50% of your hosting revenue.
So, is it worthwhile? Or are you better off managing the property yourself or enlisting the help of a friend, perhaps even hiring a cohost? The amount of time required to be a successful host is decreasing as a result of the wide variety of vacation rental property management software available to hosts, even those on a tight budget. Given this, are short-term rental property managers worth the fee?
We at Hostaway believe the answer depends on the situation. You won't be sorry if you find the right property management company. But what exactly is the "right" short-term rental property management company best suited for your business model?
If you don't know where to look for an Airbnb property management company, it can be stressful. Consider the costs, terms, geographic coverage, services provided, and customer reviews when evaluating a property management company.
When researching Airbnb management companies, take the following factors into account:
Before you sign on the dotted line, consider calculating costs and upfront fees. Some commission-based companies take up to 50% of your host revenue, leaving you with significantly less money for home repairs and maintenance.
How simple is it to terminate your contract? Before signing, you should understand the terms of the contract to ensure you have a way out if necessary.
If you live in a rural area, it may be difficult to find an Airbnb property manager to look after your property. Companies with a broader geographic reach typically have more resources than smaller property management firms that only serve a few cities.
Some property management companies provide more benefits and services than others. This is why, before signing a contract, it is critical to compare Airbnb property management companies.
While there are many Airbnb and vacation rental property managers in specific states, there are also several highly popular property management companies that operate on a national scale.
Vacasa, founded in 2009, is a full-service vacation rental management company that operates in the United States, Canada, and Mexico. Full-service means that the company handles the entire rental process from start to finish, including cleaning services after guests leave. This is why it is referred to as the Best Full-Service Management Company.
Vacasa offers a variety of services to homeowners who work with them, including,
Vascasa’s pricing is straightforward for homeowners. You only have to pay one comprehensive fee for all of its services. Hundreds of factors like weather, local events, historical trends, location, number of bedrooms, and guest amenities all affect your overall fee.
With Vascasa, you are not locked into any contract. You can cancel your Vascasa agreement at any time with 90 days’ notice. Keep in mind that any reservations that were already booked during that 90-day window will be honored.
Vacasa handles property management, so you don't have to worry about finding cleaning crews after your guests leave. Some of their other services include:
Vascasa provides 3D virtual home tours, custom copywriting, high-definition photography, and an optimized listing as part of the onboarding process.
Getting guests to stay: The company lists your rental on all of the top booking sites, has a dedicated team of reservation agents, and offers 24-hour guest service.
Detail management: You can expect dynamic pricing, professional cleaning, and guest screening and damage coverage from Vascasa.
Following through for customers: Vascasa distinguishes itself by providing unlimited owner holds, no fixed contracts, and local staff in all markets.
Rabbu is a one-of-a-kind full-service short-term rental property manager for investors. While they are headquartered in Charlotte and Miami, they are rapidly expanding throughout the Southeast and the rest of the United States.
Rabbu's platform maximizes your return by creating short, medium, and long-term listings for your property and then matching you with the highest-yielding renter.
In a highly seasonal market, for example, your property may be rented short-term on Airbnb during the peak season before locking in a longer-term tenant during the low season to maximize your rental income.
They will oversee all aspects of your property's daily operations, such as sending personalized automated messages to tenants, coordinating maintenance and cleaning, and collecting payments, deposits, and paying taxes.
Rabbu can also grant and revoke access to tenants, monitor noise levels, turn off smart home devices when the property is empty, and use virtual check-ins with ID and facial recognition. With their app, you can easily monitor your property portfolio and gain access to monthly financial statements and property performance analytics.
Brian Egan and Adam Sherry founded Evolve, a vacation rental management company, in 2011. Since its inception, the company has grown to provide property management for both short-term and long-term vacation rentals.
Evolve, as one of the largest national property management companies, distinguishes itself from competitors by providing a diverse range of services and benefits. The following services are provided by the management company:
Evolve's fees are low in comparison to other Airbnb Management Companies. When a booking is secured, the company charges a 10% management fee, which is lower than the industry standard of 20-50%. This is achieved in part by providing fewer services.
Evolve will only market your property if it meets four criteria: it is safe, clean, guest-ready, and as advertised. The company also requires that you keep your Evolve calendar up to date at all times and have short-term rental approval from your city.
You can cancel services with Evolve at any time by emailing email@example.com Your termination will take effect 15 days after the company receives your notice of termination.
Evolve provides its customers with standard services such as,
In California, San Francisco is a major Airbnb and vacation rental hub. San Francisco's short-term rental laws have changed in recent years, and many hosts prefer to leave their property in the hands of vacation rental property management services that know what they're doing and follow the strict, new laws.
This full-service property management company specializes in Airbnb and is owned by a former Airbnb employee, Daniel Rusteen. Despite being based in California, his system allows them to manage any listing anywhere in the world. Belo is a small firm that only manages up to five Airbnb listings at a time. Daniel's priority is to automate every aspect of the process while improving the guest experience. On the first page of the Airbnb search, all of Belo's properties appear.
With the popular slogan "be a host, not a hostage," KeyBee is one of the most popular property management companies in San Francisco. The idea is that homeowners will have complete flexibility and transparency in managing their property, but will also be able to relax knowing it is in the hands of professionals. KeyBee will handle online reservations, visitor meet-and-greets, and all check-ins and check-outs. KeyBee claims to have the market's most advanced pricing algorithms, with the potential to increase a homeowner's income by 20%.
The San Diego market is arguably San Francisco's biggest competitor in California for vacation rentals. Airconcierge, which also provides full-service property management, is one of the top property management services in San Diego. According to AirConcierge, their property management service, which optimizes listings and pricing, generates 10%- 40% more revenue than a home managed by the homeowner.
Easy Air Rentals specializes in South Florida property management. It specializes in luxury homes and provides booking, cleaning, and competitive pricing models. Their services include:
HostStarter provides full-service property management, cleaning/turnover services, and furniture rental in five Texas markets: Dallas, Fort Worth, Arlington, Irving, and Plano.
HostStarter also connects buyers and sellers of vacation rental properties through their Airbnb property sourcing service, which assists potential investors in finding investment properties, and their Airbnb listing service, which assists sellers in listing and selling Airbnb/Vrbo properties.
COBnB is a top property management service in Denver. It is an investor-focused short-term listing management company that focuses on maximizing profit from Airbnb rentals. Services include 24-hour guest communication, turn-over service, linen service, and price optimization.
Black Bear Rentals is a full-service property management company that serves Asheville, Black Mountain, Candler, Weaverville, and the surrounding areas. They currently manage long-term rentals, short-term rentals, vacation homes, Airbnbs, and caretaking services.
Their services range from marketing your property and finding a suitable tenant to full property management, which includes routine maintenance and emergency call-outs.