Hosting on Airbnb may look simple, but in reality, a profitable Airbnb listing can take up a considerable amount of your time without property management, and you still may not be making use of all of the opportunities to maximise your profit.
That’s where an Airbnb management company offers real value – by reducing your input costs and increasing your revenue, generating overall higher profits.
Below, we look at the different benefits of using a short-term rental property management company to manage your investment.
Access to Professional Advice From Airbnb Property Management Experts
One of the real benefits of Airbnb management companies is that they give access to professional, experienced market analysis services. This can include support to work out the right price for your property, and when and how to fluctuate that depending on market demand.
It’s difficult to get this information as a single property owner – the data is out there, but you need to be skilled to interpret and apply that data.
The advice of an Airbnb management company not only will help you to ensure your property is priced competitively, but it will identify opportunities to take advantage of higher demand.
It’s also in the best interest of an Airbnb management company to be promoting your property’s listing across using their marketing services, as they should be operating from a no booking, no commission fee structure.
A holiday home management team can also provide advice on your Airbnb styling and the small but noticeable extras, such as the welcome packs for guests that are important to secure 5-star reviews.
Airbnb property management companies like HomeHost are also experts in producing high quality and engaging photos with an exciting and unique description to make sure your listing gets noticed and attracts guests.
The better your marketing, the more bookings your property will get, and the more income you will receive.
Set & Forget – Reduced Effort In Managing Your Airbnb
Managing an Airbnb can take up a surprising number of hours of your day – the time adds up quickly.
You can spend a few hours taking photos, creating the listing, responding to reviews, updating the listing, and then another few hours to managing responses to guests and check-ins.
On top of that, there are at least three hours of cleaning per guest stay to be done, not to mention handling any emergencies.
You could easily be spending 10-15 hours per week working on your listing – and that’s not even including the commuting time to and from your property, which can add up with Sydney traffic!
All of that is time you can’t spend on something else. With average hourly pay in Sydney around $52, that can add up to over $40,000 in direct opportunity cost.
Multiply that over multiple properties, and hiring an Airbnb management service to do all that work for you makes perfect financial sense. Even if you were to hire someone to do the cleaning or the initial marketing, that still adds a cost in both time and money, as well as administrative hassle to make sure things are running smoothly.
Hiring a holiday home agency that can provide the full range of services means you can take a proper hands-off approach to your Airbnb while minimising the direct costs that go into managing your rental.
An Airbnb management team like HomeHost can help you best manage your Airbnb rental.
This provides clear benefits in terms of reducing your direct costs, maximising your occupancy rate and the chance of securing 5-star reviews, and increasing the overall return on your Airbnb investment.
If you would like to learn more about Airbnb property management, or about Airbnb property management companies like HomeHost, click here to schedule a free phone call with us. We’ll chat about how much your property may be worth, how other similar properties in your area have been performing, and why HomeHost has so many great reviews on Google and Facebook.