If you own an extra property and want an easy income, consider renting your home out on Airbnb. The California based company has been around just over a decade but very quickly became a reliable way to both make money and experience a unique stay anywhere in the world.
However, managing a property can be time-consuming and stressful. You’ll need to deal with all guests, clean and restock after each stay, manage online accounts, and more. It can turn an easy income into a dreadful task. Luckily, there are plenty of management companies that can take your property for you and help you run everything smoothly.
A Personal Touch
One great reason to look into a management company is that they will help give a personal touch to your home. Many Airbnb management agencies will work with you to help style your home or refurbish your area. They will also help keep your property clean, your supplies stocked, and make sure that you have fresh, clean sheets for each guest.
All of this helps create a cosy feel of home without the stuffiness of a hotel room. The best part is many companies will offer 24/7 support, so you can rest easy knowing that they will take care of all of the hassles.
Local is Better
When choosing a management agency, be sure to check and see if they operate in local areas. Larger companies that operate in bigger areas might still provide good service, but they won’t be as good as a company that knows your area and can help entice others will some local selling points.
Check the Price
Typically, management companies will offer two different pricing options. These are either:
- A flat-rate option
- A commission rate option
A flat-rate option means that you pay the same rate each month to the management company, no matter how many bookings you get that month. Whether it’s 1 or 100, your company will take the same fee each month.
A commission rate works off of commission. This means that the company will take a percentage off of each booking that is made. This can be anywhere from 10%-40%, depending on what you have decided with your company.
There are benefits and drawbacks to both, so consider carefully and check to see what each management agency offers you.