Air BNB Property Management Services

[Chris Papa]

Hi - I’m thinking of turning some rental properties into Air BNB’s. I know Air BNB is very management intensive so I was wondering if anyone has used an Air BNB Management service? If so, what was the cost and how did you like it? Thanks you!

[Joe Kim]

Originally posted by @Chris Papa:

Hi - I’m thinking of turning some rental properties into Air BNB’s. I know Air BNB is very management intensive so I was wondering if anyone has used an Air BNB Management service? If so, what was the cost and how did you like it?

Thanks you!

 Chris,

If you are just starting off,  it's not hard to manage Airbnb units yourself until it gets beyond 3 units.

Before I explain.  The HUGE time committment is the initial setup and furnishing of the homes.   Management is much easier, but still takes some work and skill (obviously).  

Honestly, I work a 60hr+ week job and when I got STARTED less than a 1year ago I was able to easily managed 2 units of Airbnb locally without hardly noticing at the start (I'm now at 6 total).   Bookings come in waves so it's usually a few messages here and there.   Also, if you create good systems, lots of things can be automated like having a wifi lock (I use lockstate or now called remotelock) that is keyless entry lock with wifi connection that automatically sends the code to the your guest upon confirmation on Airbnb.   

the key is finding a good cleaner which is the your #1 contractor critical to your business.

If you have a local SF bay area Airbnb, there is a bay area startup called "getproperly" that is a cleaning calendar app plus a convenient way to find cleaners in the area that are specific to STR (Short term rentals).

Once you get beyond a certain number and/or you get a lot of bookings, you may want to hire a "cohost" first.  If you pay a PM 15-20% of your gross revenue, that's a HUGE hit on your bottom line.

My friend who has an out of state STR/Airbnb has trained his cleaner to become a cohost at extremely competitive price at less than half what you would you pay a PM company. Like most things if you bootstrap it yourself, you can save a ton of money.

I personally have three cohosts managing my out of state Airbnb that I personally trained myself.   Also, the guru of Airbnb J. Martin uses filipino VAs managing his large portfolio (at a fraction of the cost of hiring a PM company).   I personally manage my local airbnbs but now at 3, I'm starting to feel the need to find a local cohost and ultimately looking for a partner.