The home-sharing business has been growing exponentially over the past years. More real estate investors are switching from traditional rental properties to Airbnb given the ease and accessibility of renting using the platform. Not to neglect that renting on Airbnb enables many real estate investors to invest in real estate with little money.
All you need is a room of your property to rent. After all, who does not love passive income? While for those going away on a trip, they can rent their property while they are away and earn passive income from it.
How would one manage to rent their property on Airbnb while they are away? Well, with today’s fast-moving technologies, you can find professional property management online with one click. Or you can contact them and set up a meeting in person if you feel more comfortable doing so.
Hiring an Airbnb property manager will make renting properties a simple process. Your Airbnb property manager will certainly take a commission. However, the hassle of renting out and managing your property will be worth paying for.
Today, we will help you prepare for your first meeting with your future Airbnb property manager. We will present to you 30 questions that you should ask your Airbnb property manager, then we will go on to provide you with the top Airbnb property management companies.
But First, When Should You Hire an Airbnb Property Manager?
You should hire an Airbnb property manager if you are:
- Renting your apartment while away or out-of-town;
- You have been expanding your investment portfolio. Your business has been growing and now it is time to add more hires to help you carry out your investments;
- Competition is fierce, it’s peak season and you are struggling to match tenants to your rental property; or
- You have a full-time job aside from being a landlord and have little time on your hands to take on another job simultaneously.
Hiring professional property management services nowadays has proven to be very efficient and time-saving. Moreover, when hiring an Airbnb property manager, all aspects of your rental property will be well handled.
Are you looking to expand your portfolio and buy more Airbnb investment properties? Check out Mashvisor’s rental property finder and explore your desired Airbnb location.
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Why Advocate to Hire an Airbnb Property Manager?
First, professional property management companies have better technology services. Managing a rental property can be assiduous and time-consuming. However, when you resort to an Airbnb property manager or professional property management services, you get access to technologies that make the rental process safer, easier, and more profitable.
Remember that Airbnb property management companies deal exclusively with rental properties. Therefore, they enjoy a plethora of real estate investing resources and high-tech tools to bring the highest return on investment.
Second, an Airbnb property manager will facilitate marketing and advertising efforts for your investment property. They can do so by offering marketing and advertising packages using landing pages, social media, and listings on major rental websites.
Third, a professional Airbnb property manager will reduce your risks. An Airbnb property manager will ensure that contracts are well-drafted and that rental agreements release you from certain liabilities.
Moreover, some professional property management companies offer a guaranteed Airbnb income model to protect landlords from losses that may arise when the investment property is vacant. Well, this is very comforting.
Overall, hiring an Airbnb property manager will reduce risks, increase marketing and advertising efforts, while introducing you to tools to ensure that your investment is safe and earning a high return on investment.
Are you convinced? Do you wish to hire an Airbnb property manager for your short-term rental properties? Take the following questions into note when approaching your future Airbnb property manager. The following questions will help you assess and select the most suitable Airbnb property manager or Airbnb property management company.
30 Questions to Ask Your Future Airbnb Property Manager
While of course we provide you with a long list of questions covering several aspects, you should still think of questions and add them to the list.
Candidacy and Background
- Are you a licensed Airbnb property manager?
- Do you have any certifications?
- Are you insured?
- Are you Fair-Housing compliant?
- What experience do you have managing rental properties?
- Which Airbnb property management services do you offer?
- Do you outsource any of the services that you offer?
- How many rental properties are you currently managing? And what type of properties?
- Do you have staff enough available to show property to prospective tenants and respond to tenants and their needs as quickly as possible?
- Which real estate investment strategies do you use to efficiently rent out properties without sacrificing tenant quality?
- How do you market and advertise properties?
- What are your monthly management fees?
- What are the management fees when the property is being rented and when the property is vacant?
- Which costs extra?
- What tools do you use to screen tenants?
- How do you collect rent?
- Do you do inspections?
- What’s your process for handling service requests from tenants?
- How do you handle urgent requests and maintenance?
- On average, what is the cost of an average maintenance and repair bill after tenants move out?
- Do you enforce penalties on late payments? What’s your policy?
- How do you deal with tenant delinquency?
- Does your lease agreement abide by state and government laws? Is your lease agreement legal?
- How detailed is your lease? What does it cover?
- What control do I have over the tenant lease agreement?
- If I decide to sell my property, do I have to sell it through you?
- If I am not satisfied, can I cancel my management contract? What’s the policy and process?
- Do you offer eviction warranty? How many evictions have you had in the past year?
- How often do you provide updates on properties and current tenancy?
- How will communication occur between Airbnb property manager and I? And Airbnb property manager and tenants?
Where Do I Find an Airbnb Property Manager? What Are the Top Performing Airbnb Property Management Companies?
Below are two top Airbnb property management companies. Make sure to visit and interview the companies and their staff to select the most suitable Airbnb property manager.
TurnKey Vacation Rentals: Founded in 2012, TurnKey Vacation Rentals markets and manages short-term rental properties for more than 3,700 vacation rental homes across 55 top US travel destinations. TurnKey provides full-service vacation rental property management using smart home technology combined with local property management experts to deliver service 24/7. To learn more about TurnKey, visit their website and arrange a meeting.
Vacasa: Vacasa is a leading international vacation rental management company based in Oregon, United States. Known as a tech vacation rental company, Vacasa delivers excellent service while using the newest technologies to service its clients. It offers property management services for over 8,000 vacation rentals across 20 US states and 15 countries. To learn more about Vacasa, visit their website and arrange a meeting.
Do you need to hire an Airbnb property manager? Do you have so many responsibilities that you need assistance managing your rental property? Are you looking to hire an Airbnb property manager? If you are, then, we hope you have thoroughly studied the questions above.
We advise that you go over the questions listed above and add your own to the list. Expand your list and make sure you clearly assess an Airbnb property manager or Airbnb property management companies before hiring them. To learn more about Airbnb real estate investing, visit Mashvisor.