I have gone to 100% vacation rental with about 75% of my bookings coming from Airbnb and the remaining 25% coming from VRBO, Booking.com and some local bookings. For my market this makes the most sense and we are netting 300% more monthly income then we would under traditional rental agreements. The problem is, as we add doors the workload of doing 6+ checkins/checkouts a month per door is becoming more time consuming. I have in place a system and people that I cordinate with to clean the condos between stays, take the bedding to the laundry and restock necessary items.
Does anyone here have experience using a property management service to run their Airbnb business and if so what does that actually entail? Do they handle the backend side as well for you, responding to messages inapp, setting up check in times? Do they only do the checkin/ checkout? Is there the necessity to remake the listings with the property manager as the Host?
And of course the ultimate question is compensation. Any insight into this would be greatly appreciated.
Any questions about the logistics of the business I am happy to clarify as well. Thanks!
@Account Closed We use VRBO and Airbnb. 95% of our bookings come from HA/VRBO. Check in and check out times are sent via automated message and in our house rules. The house keeper cleans the house and gets it ready for the next renter. I don't have anything left for a PM to do. There are some emails occasionally but nothing significant.
What part of self managing is taking up your time to where you need a PM? Are you physically going to the property for check ins and check outs? We use a lock box so they can check in at any time.
All of the rentals are in Cabo San Lucas, Mexico. We are hosting people unfamiliar with the area and without a reliable Google Maps or mapping system so we are always physically going to do check ins and often meet them at a common spot to pick them up and drive them to the condos.
I have preset systems in place for responding to inquiries and giving people FAQ messages but between all of our properties I am doing roughly 8-12 check ins/ outs a week at an average of 30 minutes per transaction. Often this takes place weird times during the day and as we add doors that will become an issue.
@John Underwood we have lock boxes installed at 2 properties but people had difficulty finding the places on their own and we spent as much time giving directions over the phone as if we had physically gone to check them in ourselves. If Cabo gets a better GPS option in the future that will alleviate a lot of those issues, until then do it ourselves or PM.
Have you tried Waze? It has a community edit feature where you can add or correct streets. If you could make sure this is updated then you could tell people to use Waze to get to your rentals.
I have not! Going to check it out now, thank you very much
@Account Closed Did you get any feedback on short term rental property management fees?
I'm a property manager. I charge 20%. I do everything for my owners. My service is essentially turnkey. I register the STR with the city, manage payouts, taxes, cleaning, maintenance, communication with guests, photography, interior design consultations, and dealing with any nightmare guests.