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If you could make/net the same amount of money as you do now being a host, with a professional (management company) doing all the work for you (cleaning, marketing, maintenace, etc.) would you?
Seems obvious to me but others I have talked to others that worry about screening every renter, the personal connection, and just an attachment to the property itself.
To me its just an investment, so if you didn’t have to spend the time/hassle and could still make the same amount of $ or close, having a company do it, would be worth it.
I’m as mercenary as the next guy, but AirBnb – to me – is not (well, should not be) about trying to make a pot full of money while sitting on your backside sipping RoC Cola and eating bonbons. This should NOT be a “pet rock” which costs you almost nothing and makes you zillions.
IMHO people should be involved with AirBnb because they like to meet people and interact with them. They should NOT be absentee landlords who let impersonal management run things for them.
People who look at AirBnb rentals as “just and investment” should go invest in something else, and let the people who really care be in the part-time hospitality business.
I would not do it. Even if it is a lot of work, and there are sometimes guest who are tiresom, I still feel that I have gained a lot thrue the Airbnb-community. I live in a very rural place, and hosting has given me the opportunity to get known with people from the whole world. Also I like to give things a personal touch. No company could do this the very same way like I do it.
If I could make as much using a letting agent - then yes I would use one.
However if a management company could pay me the same as I earn now then that would suggest to me I can put my prices up!
We rent a whole property however so only really interact with guests before their stay (and this varies massively depending on the guest) and upon key hand over at check in. Vetting isn’t therefore as important to us as it would be to somebody sharing their home with guests.
I recently started sending out my sheets and duvet covers to the local laundry service as it was getting a bit much for just me alone during high season. But I still do the towels and pillowcases I think when I start renting the entire cottage out I will get professional cleaners in just because by that stage I will have 6 rooms to take care of and it will def be too much for me to maintain the level of service and cleanliness that I have. But other than that, no. I consider Air to be a personal experience for the guests and using management companies and such, takes all that away.
That used to be true, but in most cases professional managers have much resources at their disposal that self managing owners do not.
For example: dynamic pricing technology (like hotels and airlines use), marketing budgets in the thousands and up (listing properties on 20+ different channels or sites), cleaning costs are cheaper just based on scale, and just the fact that renting properties is their primary occupation so that is where 100% of their focus goes.
Also, companies I work with are now guaranteeing owners income, thus taking all of the financial risk off of the homeowner.
Stewart, do you have multiple properties besides your owner-occupied one? If so, then perhaps this would work better for you, but the business model of airbnb, at least on most cities around here is that your property should not be an investment property, and that owners should not be buying up homes and condos to turn them into airbnb’s. That takes the whole experience back to the hotel vibe… I know tons of people are doing it this way, but I do not agree with that business model. This should remain personal experience, not a management company experience - at least in my eyes…
You’ll really need to explain that more fully. I can’t imagine that a management company, for example, has the knowledge that I do about demand in the area and special events for pricing purposes. How can management companies ensure great reviews and repeat guests? Do management companies have location-specific social media accounts with tens of thousands of followers? Can they provide truly personal service and excellent standards?
Do management companies respond immediately when a guest has stopped up the toilet or broken a window? Can they really advise about the best local restaurant for a romantic meal or which pizza place has gluten free? Can they introduce guests to locals who have the same interests? Can they make tailor-made itineraries for guests based on the guests’ interests? Can they put foreign guests in touch with locals who speak their language?
Update! So I fired my linen service and am back to doing it myself. They were really good at ironing but absolutely useless and returning laundry once done. No sure how I will cope next year when I have a total of 7 beds to let… may need to hire a little lady to come in once a week and do some of it. At least the sheets and duvet covers. I can handle the rest!
I rent an entire 5 Bedroom house out. I live a 1-1/2 hour away [ with a freeway accident it could take 2.5 hours] so impossible to do the cleaning and washing myself. [It takes the cleaner 5 hours+] I have a great reliable male cleaner [male because the mattresses with topper are large and heavy - very very comfortable] I use a reliable linen company that is very reasonable. The only thing I soak,disinfect and wash are the face clothes. Linen companies are trying not to offer face cloths as they say they are always stained [women’s make up] , so their cost for that is prohibited. I have strict house rules and guidelines, vet all guests, email often to get their dynamics and personally drive down to the coast to meet and greet the guests, even though I have a locksafe at the gate. It takes anywhere from 1/2 to 1 hour to orientate and then I drive back again. It works really well for me and I always have lovely reviews.-I also correspond with them on check-out and they always send me lovely messages. I am also listed on other sites but do enjoy working with Air as we are a strong group on the Gold Coast and have aa Air person to talk to if need be.
I think when I start renting the entire cottage out I will get professional cleaners in just because by that stage I will have 6 rooms to take care of and it will def be too much for me to maintain the level of service and cleanliness that I have. But other than that, no. I consider Air to be a personal experience for the guests and using management companies and such, takes all that away.