Home sharing is the great equalizer. There’s no special skills or knowledge required to enter the market. If you’ve got some space to rent, you can be a host. But, this comes with its share of downsides. Many new hosts are shocked and overwhelmed by the amount of work actually involved. Rather than bring in an Airbnb property management company, like Guesthop, they try to tackle it all themselves.
That strategy is very flawed. Take a look at these three vital reasons to use an Airbnb property management company to understand why.
You can make more money with a property manager
Cost is probably the number one reason homeowners avoid hiring a property management company for their short-term rental. So, that’s the first myth we’re going to bust.
First, think about how much time you devote to running your Airbnb. Then, compare that to the amount of money you’re making. Now, calculate an hourly rate. Whether it’s below minimum wage or perfectly acceptable, hiring a property manager will make that margin wider. Put in minimal effort, get maximum revenue.
Speaking of maximum revenue… Airbnb property managers can offer expertise to maximize both pricing and occupancy.While anyone can be a host, not everyone knows the short-term rental market.
Guesthop manages over one hundred properties in the Bay Area alone, so you can imagine we have a pretty good finger on the market. We know how much certain properties should rent for and what guests are willing to pay. We have a whole system for adjusting prices based on Bay Area events and holidays. And, we’ve got a ton of comparable homes top of mind for every situation.
An Airbnb property management company will constantly adjust prices to optimize occupancy rates, saving you time and making you more money in the long run.
Plus, with a dedicated property manager overseeing your short-term rental, you’ll get more and better reviews. More reviews equal more bookings, which means more money!
You can actually go vacation
Home sharing makes so much sense for hosts looking to cover their vacation costs. But, property management isn’t really a passive endeavor.
Imagine you’ve just touched down in beautiful Hawaii. You turn your phone off airplane mode and see 10 missed calls, 20 texts, and a disgruntled Airbnb guest asking for a refund. Is that really how you want to spend your vacation?
The truth is, no matter how well you plan ahead, guests will get locked out or have urgent questions. Property management is a 24/7 job.
Hire a local Bay Area property manager to look after your place while you’re away, and you’ll vacation with ease.
You can ensure trust and accountability (for both you and your guests!)
Airbnb property management companies typically screen guests to make sure they will be respectful of your home. At Guesthop, there’s no situation we haven’t already dealt with, and we know what to look for when screening guests.
Your neighbors can rest easy knowing that your Airbnb is being professionally managed. You can even give them your manager’s number in case of emergency.
On the guest side, it’s much easier to establish your home in the marketplace when you’ve got a professional service behind you. Guests want to make sure their home away from home is safe and secure as well. Adding in a respectable third party is a great way to immediately attract more bookings.
Ready to share your home? Contact Guesthop today to see how we can help!