Hi guys. I have two guys that bought an apartment in Madrid,
They want me to manage their apartment. Everything included everything.
How much it o.k to ask ? in %%% ?
Thank you
Management companies here in Japan charge 20% of gross revenues.
Or, based on your experience as a host, maybe you can figure out a rate that fairly compensates you for your work hours?
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Hi, Thank you so much.
I don’t now yet how much time it will take to manage the apartment,
It is 5 rooms apartment, and depends if they will want to rent it as a private rooms (mean twice a week changing of 5 people = 10 times changing)
or as an Intire home to a family = just twice a week.
- If something happened so to be available.
I don’t have any experience as a hose. Just an experience about using the Airbnb.
Do the percentage. Theres a reason management companies do it. They get paid more.
you don’t have experience as a host, and some owners want you to manage their investment? Count yourself lucky.
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Hi, Yes. Beacuse I’m moving to Madrid and I’m speaking their languge, so it will be easier for them.
Please give me more informatin. Is it hard? Is it easy?
Everyone start from somewhere. Any informaion can help/
Thank u
That’s what I’m asking…
about the percentage.
Read all the old postings on this forum; that will help
Well estate agents for long term rentals charge like 10-15% here. But airbnb is more involved so 20% sounds reasonable.
Do you know how much the 5 rooms would rent out individually vs the whole apartment?
Individual it would be more.
It’s probably harder than you think. For example, what will you do when a guest calls you at two in the morning because the toilet is stopped up? What will you do if a fight breaks out between two guests or if you need to deal with noisy guests and the neighbours complain?
Your income depends on how much work you’ll actually be doing. Will you be doing everything including dealing with inquiries online? Will you be organising cleaners or doing it yourself? Will you be meeting and greeting guests?
The problem you need to work out is what the net profits will be. There are a lot of expenses with running a rental property that the owners might not have fully taken into consideration. The tricky part is that most hosts take some months to make a profit because of the money they have spent equipping the rental space. Then there are issues like insurance, mortgage payments (if applicable), utilities, damages, supplies, wear and tear (and much more) all of which need paying for - much of it before you even welcome your first guests.
When you and your two friends do the maths, you might get a surprise 
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My friend (in Australia) pays an agency in Amsterdam 40%.!! (I know, huge!)
It’s a lot of work to do absolutely ‘everything’ I’d probably want 40% too to do everything for a new listing that is on the other side of the world.
But your owners are in Madrid also, yes?, so they may be somewhat involved…
I takes a lot of time to learn everything and gain experience. Heaps to learn off this forum (more helpful than the Airbnb site/community forum thats for sure!)
Good luck
It’s depend if you have to pay all costs (you will do the cleaning, welcome of guests?, small reparation of the place?)
If yes to all I would also go to 30-40% not less
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