Air BNB Full Time Home Rental-Co Host Charge

[Andrea Standifer]

Hello everybody,

I am very new to REI. I just bought my first Rental Home. I am considering making it a Full Time Air BNB property because my Realtor tells me they have done well with 2 Rent homes in the same area, not  as nice  as mine.   They recommended starting with a low rate/night just to draw more clients in to pick the home and then write favorable reviews, hopefully.  LOL  I realize it may take a few months to get the scores up before I can up the nightly rate and have exceptional scores on the home.  The Realtor assures me that their Air BNB homes have been very profitable.  I have no experience with this and hoping some of you can share your experiences and knowledge with regard to Hosting and Co-Hosting a property Full Time. 

I would appreciate any info on Co-Hosting since I do not live in the same town.  I understand Rental Property Managers are charging approximately 10% to manage a Rental Home.  Does anyone know what the going rate/percentage for a Co-Host is to keep up with an Air BNB property?   What all does that include ie scheduling, monitoring city events, etc and  adjusting nightly rates accordingly, responding to prospective clients in a timely manner, cleaning, laundry, supplies, yard maintenance, etc.? 

Thank you in advance for your comments.  Look forward to reading the feedback.

Best wishes everyone. :)

Andrea

[Carrie Penney]

We have four AirBnB listings and they are SUPER profitable. Way, way more than we would make with a traditional renter. Yes, you are paying utilities, yard work, etc, but we have a house that would maybe rent for $750-$800 and earn over $2,000 on it. However, it is a lot of work, especially because we allow one day bookings and the homes are constantly needing to be cleaned. We've mostly been doing these cleanings ourselves during our lunch breaks, because it's $25/booking and it adds up quickly. But it's getting to be too much work for us and we are looking for a cleaner. However, we will continue to manage our own listings. We have been contacted by a few home owners who have asked us to manage their listings for them and our rate for that is 20%, plus they pay for cleaning. In managing the listing, we respond to inquiries and bookings, set up cleanings/maintenance and make sure they are done properly, track events/busy season and set prices accordingly, do inventory on household items (linens/trash bags/toilet paper/etc) and do the shopping for those items. We also review guests and handle any issues after check-out, like damaged towels/broken dishes/etc.