There are many Airbnb property management companies out there and we understand that you want to pick the best one. While the many choices in service providers are indicative of how profitable the short-term rental market is, making the decision of which one to go with can be an intricate process. If you do not know where to start or are just looking for some suggestions on how you can structure your search, here’s a list of some ideas to help you kick start your quest to find the most suitable property manager.
Do Your Own Research
Even if there are many Airbnb management service providers out there, it’s recommended that you do your own research first. While it’s nice to take recommendations from friends and family, it’s still best to try and learn more about these companies yourself. When you do your own research, you can find out more about the companies in question and you can get a more solid idea of how they operate. Do a Google search, take a look at their social media pages, websites and review platforms.
Besides these, you can go straight to Airbnb and see if the company has an official profile with the list of properties under their care. Click on those properties and take a look at the actual listings. You can find out if they are great marketers by paying attention to how the copy is worded and how the property is portrayed in the photos. Do the images in the listing look professional? Does the copy highlight the property’s most outstanding features? Only you can decide if the quality is up to your standards and if you’d like your own listing to be presented in a similar manner.
Before you know it, you will have a clearer picture of what this particular company does best. Create a list and do this for all the Airbnb property management companies you are considering.
Look at their reviews
Another thing you should take a closer look at is their reviews. Most reviews from other homeowners are visible on the property management company’s social media pages or on ProductReview. This will give you an idea of how they treat their clientele. After checking these, you can then proceed to read the guest reviews the homeowners receive themselves. If it’s under the account of the property management company on Airbnb, you can view these by clicking on the specific listings they have and scrolling down. Pay attention to what the guests say whether it’s a 5-star or a 1-star review.
You can get an idea about their strengths and weaknesses by reading these testimonies. Are the 5-star reviews talking about how clean the place is? What about the 1-star reviews? Are they complaining about poor communication? Pay attention and see if it’s a pattern or a one-time occurrence. If the host has responded to them with a solution to ensure that it does not happen again, take it as a good sign.
Reach out to them
Before entrusting the care of your property to someone else, it’s a good idea to talk to the person to who you’ll be handing it over. The initial consultation with these companies are usually and you can learn a lot about the things you couldn’t find online during a meeting. Ask them about their business model. Find out if their host is a formal employee or working on a commission arrangement. Hosts who are commission-based would understandably have more at stake in making your Airbnb perform at its best because their success is dependent on your property’s success. This will also be a good time to enquire if the host is a local of the area and how long they have been handling short-term rentals within the neighbourhood. This is good to have because most guests are not from the area and having someone who can answer their questions will contribute to the guests’ positive experience.
Ask about their track record
Once you’re in touch with them, you can proceed to ask about their portfolio. Questions you may want to ask can include how many properties are in their management portfolio and in which areas they are present. It’s helpful to know if they have a large base even if this is not specific to your property. The reason behind this is because they will have their own data apart from the general online data. It’s also indicative of how many Airbnb owners are entrusting their property’s care to them. You’ll rest assured knowing that they can operate on a large scale while maintaining personal touches. This helps you evaluate if their processes are streamlined and effective.
Review their contract
Many property management contracts have the same content in the latter pages since this is usually standard across the board and defined by the state-level government. What you should pay closer attention to are the first five pages. Check if the cost of the management fee is broken down into specifics so you know exactly what the inclusions are. Some companies charge separately for admin related work or renewals which is fine as long as this is clearly stated. In addition, review the termination clause and avoid those that will give unduly heavy penalties should you decide to discontinue the contract.
You will have a clearer picture of which property manager to engage with if you follow the steps above. Hometime operates across Australia and New Zealand, so feel free to reach out to us if you have Airbnb properties in the area. We’ll be happy to answer any questions you may have and we hope you consider us in your search.