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I think you’ll find that most Hosts here feel you alone cannot adequately manage from afar. I’m one of them.
But I think @Annet3176 has another view and experience in managing from afar. Let’s see what she has to say. I know there is another post (probably several) on this subject.
For example:
Anecdotally, I’ve read here of Hosts paying 25%-30% of gross rentals to a management company. Some were surprised that after paying management fees, Airbnb/VRBO fees, cleaning fees that their net before all the other expenses was about 30% of the gross. But each situation is different. What’s important is to develop a spreadsheet to project costs and your net income.
Some people have a nearby co-Host – that’s what’s needed if you don’t have a management company. You can split up responsibilities so that you do the messaging/planning/House manual and guidebook/pricing/business management and they do on-site work (walk through after cleaners come, evaluating what repairs/improvements need to be done, stocking supplies, responding to guests’ needs when they need someone to be on site, etc.). If you don’t know someone you trust who is local to the your STR, consider contacting nearby and highly rated local Hosts to co-Host.
I don’t know if there’s a ‘typical’ co-Host rate because different Hosts might assign different responsibilities. If I were going to hire a co-Host I would think of a low percentage (3%?) + an hourly rate for work they’re called upon to do – or maybe just the hourly rate because suggesting a percentage might lead to bargaining for more.
If you do get a management company make sure the listing is in your name. Otherwise the reviews all attach to the management company, not you. The reviews are an important part of the value of your short-term rental: don’t give it away.
