How to Manage Airbnb Property? Tips for Smart Airbnb Business Management

If you’ve been renting out rooms on Airbnb for some time and things have gone well, you might consider expanding your business. You might even think about providing property management services and maintaining the properties of others.

Successful Airbnb property management is essential for making a profit from short-term rentals. What exactly does that involve, though? 

Airbnb Property management is, in a nutshell, taking care of all the little things that add up to a thriving business. Simply put, Airbnb property managers handle the day-to-day management of vacation rental properties on behalf of their landlords. Everything from responding to visitor inquiries and arranging reservations to organizing housekeeping and providing concierge-style service falls under this umbrella.

On this page, we will teach you everything you need to know about managing Airbnb properties, from marketing your services to expanding your clientele with vacation rental management software.

How to Manage Airbnb Property? Tips for Smart Airbnb Business Management

The first step for airbnb property management is learning about the vacation rental market.

If you want to become an Airbnb property manager, you’ll need to find ways to co-host, convince landlords to hire you, come up with a marketing plan, and use vacation rental tools to make mundane tasks easier.

Since you’re here, I assume you have a solid understanding of airbnb property. You should preferably have some prior hosting experience with Airbnb. Not only will this show the landowners that you are competent, but it will also help you be ready for any problems that may arise.

Make a Business Strategy for Airbnb

Developing an Airbnb business plan is the next logical step. Think about how you will coordinate with the cleaning staff, how you will manage your Airbnb listing, and how much you will charge guests before you post it. Will you handle everything by yourself, or will you need a partner? As your business grows, you’ll need to start hiring people to help out, even if just to do the cleaning.

Since you are effectively launching a new firm, you will need a comprehensive business strategy. Make sure your plan includes how outside vendors will help you solve any problems with clients that may come up to help you manage properties. These include: 

• Cleaners
• Backup cleaners
• HVAC repair services
• Maintenance of swimming pools
• Extermination of Pests
• Manage Plumbing
• Electrical
• All Other Types of Emergency Help

What Standards Must I Meet to Qualify for Airbnb Property Management?

There is no one answer to this question because the requirements to become an Airbnb property manager vary by region, state, and city. Nonetheless, here are a few broad guidelines to keep in mind for managing airbnb property:

First, learn about the local ordinances that apply to holiday rentals in your town. This will ensure you know what the law requires and can follow it for managing property.

Second, it helps to have previous work experience in the hospitality sector, particularly in the administration of vacation rental properties, as this will teach you the ropes in handling client requirements and delivering stellar service.

In the event that you do not have personal expertise in the field of vacation rentals, you may want to think about becoming a member of a local club or organization of rental property managers that handle short-term rentals in order to receive direction and assistance.

Last but not least, you’ll need solid organizational and time-management abilities to manage listing and handle the responsibilities of operating an Airbnb rental successfully.

Things You Should Know Before You Begin to Manage Airbnb Property

You might be skeptical of Airbnb’s claims that managing a home is pure profit before you really commit to managing one. Actually, it’s not. Because of the nature of the work, one must frequently switch between different roles. Being a property manager can be taxing on your body, emotions, and mind all at the same time. Constant vigilance, accessibility, and awareness are required for a successful property management business. You might not know everything there is to know about this industry.

If you’re thinking of managing Airbnb properties, here are the five things you need to know:

• In charge of it, implement hotel-like guest services.

No matter how experienced you are in hospitality, the guests have high expectations of you. They deserve only the finest.

1. Try to automate your work as much as possible.

This should be the benchmark for success for every property management company that can scale.

• Learn about digital marketing.

Putting up a listing for your property on Airbnb is not sufficient anymore.

• Think like an entrepreneur

Aim for the highest possible level of performance and think like an entrepreneur.

• Clarify your communication expectations.

Everyone on your team and in your audience should be familiar with the best methods of reaching you.

Get Spick-and-Span: Airbnb Rental Management Has High Expectations

• Fixing and Restoring

Your building must be safe and up to code with the local fire department before you can even think about starting any renovations. If everything is okay there, let’s move on.

To what shall we devote our first steps? Let’s start by making a prioritized list of what needs fixing or improving. Depending on how deeply you want to dive into these topics, you may need to invest some money. A significant improvement in your property’s rentability will be made by the following factors as well:

• Cleanup Airbnb Listing

Yes, this is obviously true, but there may be more to it than simple trash collection. Power washing is the quickest technique to restore a building or other structure to its former glory. Almost any surface, from patios and brickwork to cement fixtures and roadways to vinyl siding and shingles, may be cleaned with a power washer.

• Paint

This is true for both the inside and the outside of the building. Keep the color scheme from becoming too wild. White is a safe and reliable interior choice because it creates an airy and open atmosphere. The use of soft pastels will keep you within the boundaries of conventional color usage if you decide to color the building.

This is primarily a cosmetic improvement, but it also serves certain practical purposes. Walls that are splitting or crumbling send the message to visitors that you don’t care about the condition of your home.

• Flooring

The floors are the next most noticeable part of the interior, so having them redone may completely transform the feel of a room.

If you have an unsightly carpet hiding the floor, try lifting a corner and taking a look. This can be assisted by using a sheetrock knife (and later, for cutting the whole thing out). Remove the carpet without hesitation if the area has wooden paneling.

Floorboards or tiles can be installed over cement, depending on your preference. You might also try to get the most out of the carpet by renting a vacuum cleaner.

You should pay special attention to the quality of the tiles you select for high-traffic areas.

• Landscape

Do something about the overgrowth of weeds and plants or the general lack of color at your location. It’s not very pricey, but it can make a huge difference in the long run. One can increase the curb appeal of any home by maintaining a well-kept grass and flower bed. Finally, bird baths are a popular addition to any garden.

• Fumigation

Bedbugs, cockroaches, ants, and ticks can all ruin your Airbnb listing’s quality of life. Getting rid of stagnant water near your home is an effective way to reduce mosquito populations (puddles, ponds, leaks, and storm drains). Make sure there is adequate drainage everywhere they might settle and multiply.

• Plumbing

Have you installed a septic tank specifically for your home? Would you happen to remember when it was last cleaned? Take action and finish the job. When dealing with feces, you don’t want to mess around.

Your plumbing, particularly the toilets and drains, must be free of obstructions. There are many liquid, toxic products designed for this purpose, but use caution. They are not designed for repeated use, and doing so can corrode pipelines and weaken seals.

They are not designed for repeated use, and doing so can corrode pipelines and weaken seals.

If the problem persists after the first usage, a physical obstruction may be to blame. You can use a flange pump or a toilet snake to remove the obstruction. In cases of uncertainty, it’s best to get expert help.

• Electrical Issues of the Property

Though theoretically covered by the fire code, this needs to be emphasized. Is it common for you to turn on the microwave while watching television and have the circuit breaker trip, cutting off the power? That’s a major problem for the visitors. You should probably call in the pros because it sounds like an overloaded circuit.

If you consider yourself a handy person, you can probably finish this list without any outside help. This is a great opportunity to cut costs and use that money to buy new and better furniture for your home.

Redecorating: First Impressions are Crucial for Property Management Business

Whenever we hear the word “redecorate,” we automatically think of the excessive investment associated with new furniture items like couches and bed frames made from expensive wood. Spending a lot of money isn’t necessary. Look for a good do-it-yourself guide or a website about the topic if you want to do some cheap remodeling. Check Reddit and post a question to one of the many helpful do-it-yourself communities there if you get stuck.

Home Depot is a great place to get ideas because you can just walk around the store. Keep your cart at a reasonable size until you check your finances, so you don’t spend too much. Choose Ikea for simple home decor if you are lacking inspiration.

Focusing on individual rooms is a great way to break down a large project into more manageable chunks. Establish an affordable spending plan. Do your homework because if you spend half your money on a handmade wooden bed frame, you will have little left to decorate the room. You may avoid the hassle if you plan and calculate costs before making a real estate investment.

Cross-channel Marketing for the Real Estate 

In today’s modern business environment, you can’t survive and thrive without a strong marketing strategy as a property manager.

You can reach more people with your message by developing a cross-channel marketing plan. What follows is a primer on how to get started:

1. To get more people interested in renting your home, you should list it on multiple vacation rental websites.
2. Get yourself out there on social media. You can attract a loyal following of customers by consistently publishing information related to your property.

Using YouTube to promote your vacation rental is a great idea.

4. Fourth, regardless of the time of year, always have a full house by contacting prior guests via email marketing and offering specials and discounts.

Create a Unique Bank Account for Your Airbnb Properties

The process of recording income and expenditures will be simplified. To simplify things, it’s recommended that you pay for everything associated with Airbnb with a single credit or debit card. If all transactions are recorded in one place, keeping the books becomes much simpler. The use of a “cash back” credit or debit card can potentially get you some extra cash. You can use PayPal just like any other online payment system, or you can get a credit or debit card that is linked to your PayPal account.

Take Advantage of Business Education

If you want to go into the business world but lack relevant experience or a degree, you may want to consider taking some classes in areas like finance, auditing, and business administration. Online resources and community colleges often offer classes at no cost or at a very low cost. Learning a few new skills can simplify running a company.

Get a Mentor

One of the best ways to learn the ropes of a business is from someone who has already mastered it. The solution is to find a mentor. An Airbnb SuperHost is the ideal mentor for a manager of short-term rentals. A good mentor will show you how to avoid common pitfalls on your path to becoming a super host yourself.

Employ a Remote Property Manager or Partner

Do not manage your Airbnb property yourself if you do not plan to spend significant time there. Instead, engage a business that specializes in this type of property management. The management firm is responsible for greeting guests, managing check-in, supervising housekeeping, and tending to the building’s maintenance needs. Ten percent to twenty-five percent of the property’s gross income is normal for management fees.

If you want assistance, you can give over your Airbnb account to the provider and let them handle everything, but remote scheduling could save you money.

To boost your monthly income, consider selling property management services to other Airbnb hosts. You should be aware that, depending on the laws in your state, you may require a business license to engage in this activity.

Automate Your Responsibilities with a Vacation Rental Software

Being a full-time host comes with a long list of time-consuming responsibilities. Utilize vacation rental software designed for managing rental properties to streamline mundane duties and free up more time. Guests should be kept in the loop by providing them with reminders, house rules, and a request that they leave feedback about their stay.

A multitude of useful applications exists to streamline the Airbnb host experience. If you need to save time on a specific task, search for solutions like Tokeet and Guesty. With the right software, you can easily automate follow-up with guests after they make a reservation, keep an eye on prices to adjust them when the market changes, and keep track of how different lodging places are running. Depending on your automation needs, this program might cost you anywhere from $5 per month to $50 and prove to be best for AirBnB rental management.

• Tokeet will help you plan bookings right away when potential customers ask about open times in your schedule, and it will also let you build a personal website.
• With the help of Prempoint, You may simplify key distribution to tenants, provide temporary access to service providers, and provide your management team with access to all areas of the building using a single app.
• Guesty is one of the most favorite Airbnb apps in the vacation rental industry. It consolidates your postings into a single hub, allows you to keep tabs on all of your correspondence, and even composes and sends your messages for you. It’s similar to what Hosty does.
• ReceiptMate is a great tool for rental property management. It keeps track of your business’s expenses and revenues throughout the year. Scan your receipts or take a picture of your screen, and the program will do the math for you.

Update the Calendar to Prevent Cancellation Costs

Avoid the hassle of having to cancel a reservation by limiting the number of days you want to spend away from your destination. When you cancel a reservation on Airbnb, you’ll be charged $50.00, and if you cancel a booking more than three times in a calendar year, your account will be disabled. If you have a hectic schedule, restrict bookings to a window of two to three months in advance.

Make Use Of Outside Help And Tools

Managing an Airbnb is no easy task, and you shouldn’t have to do it by yourself. A host’s life on Airbnb can be simplified with the help of support staff or other resources. Check out some of these suggested tools, help desks, and Airbnb management systems for your Airbnb management company.

Support Center for Airbnb

The Airbnb Help Center is your best bet for answers to any questions you may have about using your Airbnb account. When you need answers to any questions you may have about using Airbnb; the Airbnb Help Center has you covered with extensive, region-specific FAQs.

In the course of your employment as a host, you may need to deal with critical situations that call for immediate assistance. Contact Airbnb’s support team if you’re having trouble with your vacation rental property. All conceivable means of conveying information is at your disposal.

Forums That Are Useful

The purpose of the Airbnb Community, a forum hosted by Airbnb, is to provide a place for a property manager to talk to Airbnb for support and to share ideas and advice with other hosts. You’ll find a plethora of useful advice for managing your Airbnb listing and improving your chances of making money through the service.

Airbnb hosts can be found by the hundreds on the Air Hosts Forum, an independent community not run by the company. The goal of the community is to facilitate communication between hosts and property managers so that they can learn from one another’s experiences.

Conclusion

If you enjoy working independently and have expertise in the vacation rental market, becoming an Airbnb property manager could be a fantastic business option for you.

Indeed, there are a plethora of responsibilities that come along with managing an Airbnb. There are a lot of responsibilities involved in property management. Still, you don’t have to tackle them all blindly because there are many helpful resources, such as Airbnb management software. By setting up an automated system, you can stop doing the same boring tasks over and over again.

Frequently Asked Questions

Do you need to be a licensed property manager to manage Airbnb listings?

One of your primary duties as an Airbnb property manager is to ensure that all of your rental properties have the appropriate licenses and permissions in place. A business license, temporary rental permit, and occupancy permit are just some of the licenses and permissions that may be required. Your home or business must also be secure and up to current building codes.

What tasks does a property manager for Airbnb perform daily?

Day-to-day Airbnb management responsibilities can range widely, depending on the nature of the holiday rental and the amenities offered. However, all property managers share essential responsibilities, including advertising the property, interviewing potential guests, and taking reservations.