Hello,
I’m setting up my new Airbnb account. A property management company says that they need to list it under their company name and account, so they will get the new reviews and send me a check after all the expenses are deducted (Airbnb fees, maintenance, etc). What is the best way to set up under my name and account so the reviews go to me in case I need to change management company later. Thank you for your advice.
You may not want those reviews!
What is their current review rating?
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You have to list it yourself as the primary host and the manager as co-host.
I wouldn’t deal with any property management company that insists on being the primary host.
AndI would look for an experienced individual as co-host, not a big property management company.
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Their overall rating 4.6
The property is far from me. I’m also looking into getting a team together – the cleaning/handyman team. What hosting companies do you use or recommend? I’m looking at Hostaly. Thank you.
And when you deep dive into the ratings….where do they fall down?
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They manage about 25 condos in same building. Most comments are excellent for host in response time, communication, service. Low ratings come from the individual condo themselves in terms of older sofas, kitchen, or not refunding. The manager tells me that sometimes it’s difficult for her to convince the owner to replace or upgrade their condo conditions. My reservation with this manager is that the manager wants to put my renovated condo under the ratings of others’ conditions. I don’t know how to work with her unless she agrees to have me on the listing. I don’t know other configuration. Thank you.
I manage my own Airbnb and use Airbnb as a guest. I think 4.6 is terrible.
FYI, this is an international forum with members from mostly English speaking countries. Knowing where your Airbnb is might be helpful.
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…
The reviews stay with the host, not the listing, or the co host.
I would be contacting other owners in the building and ask if they are happy.
I personally would not stay at a place not operated by the owner as it is their skin that is in the game…….may as well stay at a hotel.
What are their fees?
The big one is the cleaning rating, how are they doing on that?
The host gets the payment and then forwards it on to you….what happens in the Covid environment?
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I agree in principle but it depends upon your local property management laws.
My area requires specific real estate licensure for property management if you don’t own the property.
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I’m sure there are plenty of professional, local property managers who are quite competent. A friend who had a property management co. looking after her condo, which was rented out long term, never had any issues with them. The tenants they found were vetted well and non-problematic, they took care of maintenance in a timely manner,etc.
But I’ve read some awful things from both hosts and guests about these big companies like Vacasa, Evolve, Turnkey, etc.
You may think that’s good, but to folks who use and know AirBnB, that rating is marginal, the level at which Air starts sending warning messages.
A 4 rated review is the kiss of death for AirBnB hosts, and anything below 4.7 is marginal for many discerning guests.
I’m another that won’t do Air rentals from obvious property managers/realtors, who NEVER pay attention to details. It sounds like real estate company that sold the condos is getting after-sales income from their sales by hard selling the property management. DON’T DO IT, because your unit will be just another unit in the building to them.
You want to find a co-host with a 4.9-4.7 overall rating, someone who cohosts no more than 5 other rentals and is fierce about cleaning standards, and then go look at the places they are managing while they are doing turnovers to see how they do. If they won’t take the time to do this, find another one who wants your business enough to do so — it means that they’re proud of what they do.
If there is a local AirBnB Facebook group, that would be a good place to look for co-hosts.
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If you need to get started hosting quickly just because you need cash flow, consider listing with them, but as @Debthecat said, you probably don’t want those reviews. Let them keep the reviews and ratings when you eventually leave. Just make sure you aren’t signing a contract to list with the management company for longer than you’re comfortable with. I would want something like the ability to discontinue use of their service with 90 days notice or less. Learn the business and learn from any mistakes the management company makes with your listing, then assemble your team and do it right when you’re ready.
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@marb1
I am a co-host and manage properties for other people as well as hosting my own place. I would never ask a client to list their property under my account.
It would be highly unfair to the host as I would then building up any reviews for their property under my profile. The only people who would gain advantage under this profile is the airbnb management company not you.
What should happen as others have mentioned is that the listing should be set up on your profile so you can gain the reviews and ratings. They can be added as a co-host.
You can then set up for them to be paid the co-host fees for their service and you will get the balance less any cleaning fee that goes to the cleaner and the airbnb fee.
4.6 is not a good review rating. Superhost is 4.8 (mine is 4.98 to give you an example) so you should be looking for 4.8 as a minimum for anyone who you look to work with.
The other disadvantage for you, is that if you decide to let them list your property under their profile is that if you aren’t happy with their services and decide to use other management company or a local co-host you would lose ALL your reviews and ratings.
My advice would be to find an alternative management company/local cohost with decent reviews who lets you list the listing under your own profile.
Thank you Helsi and everyone helping with this cohost/hosting arrangement. This forum is so wonderful, so glad to be a part of it. I am going to ask them to be cohost.
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I agree in concept but be careful of local real estate laws. My area depending upon what responsibilities are designated to a co-host, specific real estate licensure is required.