Managing Airbnb rentals can be quite a lucrative career. But if you own one, you’d know just how much work and effort is needed to start and maintain one. What a lot of people forget is that the most crucial part of the job comes after you furnish your rental, take amazing pictures, and have it ready for listing.
As an Airbnb property manager, you have to realize that you’re not just a host but you’re also a businessman. It’s not just about welcoming and sending off guests. It’s also about managing your Airbnb rentals and account as a business. That’s why it’s important to have smart Airbnb property management. Not only will this allow you to earn a steady, passive income, but it will also help you avoid working yourself to the bone just for spare change.
Here are some smart Airbnb property management tips that will allow you to simplify the process and successfully maintain your rentals.
1. Outsource your Airbnb Property Management
The biggest advantage of outsourcing as much of the work as possible is knowing that things will be running smoothly even if you’re not available. It will also be especially helpful if you have other jobs to do or other businesses to run. It’s understandable to have doubts, however, especially with all the horrific stories from various hosts about Airbnb property management companies. The best way to ease yourself of these doubts is to do a little bit of snooping about these companies. Look at their history, their bookings, and most importantly, check if they have hospitality or Airbnb experience or expertise.
2. Avail Professional and Dedicated Airbnb Cleaning Services
Many negative reviews concerning uncleanliness have toppled plenty of Airbnb businesses. The best way you could keep your Airbnb rentals as fresh, clean, beautiful, and homey as it was before any guests entered is to get yourself professional and dedicated Airbnb cleaning services. Professionals in this trade understand all specific needs of Airbnb rentals and they know exactly how to prepare the rental for new guests. Plenty of Airbnb cleaning services nowadays offer 24/7, 7 days a week, 365 days a year services to help Airbnb keep their peace of mind.
3. Create a List of Trustworthy Maintenance Professionals
Much like matters of cleanliness, guests expect Airbnb property managers to efficiently resolve any maintenance issues that might pop up at any time of the day. With that, it’s handy to have a list of trustworthy maintenance professionals who will be able to respond to any issue in your rentals at any time of the day and any day of the week. It will also benefit you to have backups for each service provider.
4. Set Up An Automated Check-In Check-Out Process
Automating your guest check-ins and check-outs simply means that your guests can come in and out of the property without ever personally needing you or someone you hired on location. This would help you avoid cutting into your time and profits. To make sure that it is efficient for both you and your guests, ask yourself “how can my guest book a rental, get the keys, figure out parking, and figure out how to manage the house without contacting me?”
One important thing you’ll need to make this work is an Airbnb house guide. A thorough one would include the general house rules, rubbish removal instructions, as well as check-in and check-out procedures and emergency contact numbers. Make it as painstakingly detailed as possible. Also, highlight the items you know guests would immediately look for like WiFI passwords and such. Keep it in a highly visible place. And remember that it is a constant work in progress. Always take note of what questions guests ask you and update your house guide accordingly.
If you’re worried about the key exchange, there are various products that can help you. Some of these include smart locks or lock boxes. With these, your guests can access the property without you or anyone else.
5. Use an Accounting Software
The last thing you’d want is problems like cashflow troubles, tax troubles, and such caused by the lack of effective money management. An effective way to avoid this is to use an accounting software to help you manage your books. As your business starts to grow, you might even consider hiring a professional accountant or bookkeeper to keep your numbers straight.
6. Set Up a Separate Account for Your Airbnb Payments
Once your personal and business cash starts mixing up, it’ll be a headache to keep track of. As much as possible, use a separate credit or debit card for all payments related to your Airbnb. This will make keeping track of your earnings and expenses properly a lot easier. You can even take advantage of cashback credit or debit cards.
7. Consider Getting an Airbnb Management Software
Airbnb property management can become quite a tedious task if all the details you need are all over the place. If you want to remain organized and sane in managing your Airbnb rentals, getting yourself a great management software will be of great help. Make sure to look for one that includes the following:
Guest communication
Availability calendar
Desktop and mobile app support
Online payments and financial records
Pricing
Reservation and property management
8. Keep an Eye on Inventory
Supplies can run out in the bat of an eye and your next guests might be disgruntled to find that you’re lacking of some of the most basic things to make them comfortable in their stay. To avoid this, keep an eye on your inventory. Check at least every few weeks. Then create a checklist of things you need and order them in bulk. This saves you money and helps you better keep track of your expenses. It also helps to order all your supplies from one place in the chance of lower prices and even free shipping deals.
9. Always Have Someone Ready and Available
Even if you have fully automated your systems, it will be a great benefit for you to always have yourself or someone available to help out if any issues arise. Make sure that this person would be prepared to take calls at any time of the day and respond to emails after hours. Also, make sure to have a protocol in place of who your guests can contact if the first person in line isn’t available.
Airbnb property management may be understandably overwhelming for some people. But there are plenty of tools and resources out there that will make managing your Airbnb rental almost a walk in the park. You can definitely expect some problems along the way in your journey as an Airbnb property manager but once you get the little issues out of the way, you can put all your focus into the bigger problems and create a more wonderful experience for your guests.