Property Management's Impact on Your Rental Yield

So after months of creating an awesome listing, you might have felt the rewarding experience of being an Airbnb host. You should be having more income, meeting new people, gaining knowledge about hospitality, etc. That’s great! However, in spite of all that, you might also feel that the day-to-day responsibilities have been eating a lot of your time.

After all, the whole process of hosting on Airbnb can seem somewhat overwhelming especially if you still need to improve your occupancy rates and revenue. The good news is you don’t have to feel that way because professional property management can help you.

Airbnb property management services fill the gap of hosts who want to free up their time while maximising their profits. Many hosts use these services not just for convenience but also for practicality.

This hands-off approach to hosting can cover a wide range of tasks that need to be done for your listing such as price optimisation, maintenance, guest communication, and housekeeping. And the more properties you own, the more likely you are to benefit from a property management company. If you’re wondering how professional property management can help you increase your yield, here’s how:

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Benefit from pricing strategies

One of the advantages of being an Airbnb host is you have full control of your nightly rate. But pricing your listing can get confusing and time-consuming. Nightly rates on Airbnb fluctuate depending on demand and seasonality. Using a professional property management means you can have access to unique pricing data that reflects the demand of the market.

The best Airbnb property management company will optimise your listing to make sure that your property reaches its potential in every season and local event. They can adjust the prices regularly to make sure your property is priced competitively against your competitors, maximising your profits even more than you could on your own.

Increase occupancy rates

Those that use a property management service may see better results in terms of occupancy rates as these experts understand the demands and dynamics in Airbnb. They will know how to implement the best techniques that will fill in the vacancies and increase the occupancy rate in the shortest amount of time. Their expertise ensures the property is booked for more nights at the best price so a hands-off approach can be taken by the Airbnb host.

Receive professional marketing help

It’s essential that you start off on the right foot by presenting your Airbnb listing well. When you use property management services, you can make sure your listing is optimised to stand out in the crowded market.

Part of the marketing tasks as an Airbnb host is getting professional photos taken and the description written. Airbnb property management companies are experts, they understand what guests are looking for and they can create, optimise and manage your listing to stand out against your competitors. They can add personality to your listing description and take great pictures to show off your space with high-quality photos.

Reduce your operational costs

Providing an excellent experience with your guest while maintaining your property can get expensive. Employing other people to manage your Airbnb business will not shrink your operational expenses either.

Some property management companies like Hometime can provide a dedicated team to manage your property for a small fraction of fee. They can take care of the housekeeping, maintenance, price optimisation, guest vetting, and communication so you don’t have to. This means you can avoid employing a resident manager or other people you have to put on a payroll which incurs more cost. This way your costs go down while your profits go up.

Save time and have more freedom

What’s the value of time and freedom for you? The time commitment associated with becoming a host has been a very common and big challenge for Airbnb hosts. You may want to spend your time doing other things rather than get involved in day-to-day hassles of managing your guests and listings.

For those that value their time, it becomes a sacrifice most aren’t willing to make. Property management companies exist to take the weight off the host’s shoulders, requiring very little effort from the owner. This concept of hands-off hosting can be very useful especially if you do not live near your Airbnb property.

With the increasing expectations of Airbnb guests, achieving a consistent level of service all year round should be a priority for hosts who want to increase occupancy and revenue. If you want to improve your yield while giving your guests an enhanced hosting experience, a professional property management company is your best option to work with as they will certainly add value to your Airbnb listing.