11th March 2019
The Benefits of Hiring an Airbnb Property Manager
With the gap between long-term rental income and expenses for property investors narrowing in Auckland, a movement has grown for those looking into alternative opportunities to earn in the property sector. Multiple factors have contributed to this change in perspective, traditional tenancies, while still the major avenue, are often plagued with issues that eat into profitability. In 2019, it’s now increasingly common for property owners to seek other opportunities that have arisen from platforms like Airbnb.
The short-term rental market is a growing area spurred by rising tourism rates in New Zealand. With both domestic and international guests visiting Auckland more frequently throughout the calendar year, opportunities have opened up. High numbers of property owners are now finding Airbnb and similar platforms to have the same or more earning potential as long-term rentals. This, in addition to the flexibility offered by short-term rentals, has presented a highly profitable opportunity for investors to explore.
While Airbnb has proven itself to be a fantastic platform for property owners to earn, it does require a significant amount of effort to build and maintain profit. For this reason, those seeking a more hands-free approach have utilised the assistance of professional property managers to maintain and optimise their listings. There are a number of benefits to choosing Airbnb management in Auckland and while this concept may be familiar to investors that have utilised property management services with long-term rentals, there are some unique aspects with Airbnb that should be considered.
Short-Term Rental Management Increases Profit
One of the major drawcards of a short-term rental manager is in their ability to substantially increase the profitability of an Airbnb listing. As industry professionals, their knowledge of the market, strategies and operation will maximise the potential revenue of a property. By hiring a reputable short-term rental manager, property investors can expect to see much better results than they would when handling a listing on their own.
Good Airbnb Property Managers are Superhosts
On Airbnb, achieving Superhost status is a surefire way of generating the best results from the platform. Guests are more likely to book somewhere hosted by those awarded this endorsement and these listings are generally the ones shown first in searches, this leads to the best results and highest booking numbers.
The best property managers are Superhosts. This achievement goes further in ensuring profitability and optimum booking rates, leading to the desired revenue and reputation in the community. Superhosts are experts in the hosting arena. They’ve proven themselves to be trustworthy hosts capable of providing an authentic and positive guest experience. Effective property managers will be able to generate the five-star reviews that are essential to success on Airbnb. Earning as many of these as possible will go towards a successful career on the platform for as long as a listing is active, even if you choose to manage a property on your own in the future.
Experienced Managers Will Know How to Optimise Listings
There is a lot of work that goes into an Airbnb listing behind the scenes to generate exceptional results. Much of this effort is concentrated in listing optimisation as this is where hosts are attempting to attract guests. Airbnb listing optimisation consists of a multitude of factors including; photography, content writing, great reviews, booking management and price adjustment. Short-term rental managers understand the optimisation process and will work to secure top ranking positions for your area with appealing profiles.
Airbnb Hosting Can Become a Hands-Free Property Investment
Not only will property managers increase profitability but they will take all the manual work out of the equation. Airbnb requires day-to-day maintenance if a host expects it to be a full-time venture, property managers are able to take total control of a listing, taking care of all the upkeep and ensuring it’s kept in the optimum condition. For this reason, Airbnb hosting can actually be a passive investment if the right expert is chosen. A short-term rental manager will prioritise cleaning between guests, check-ins and key exchanges, enquiries and questions during a guest’s stay, streamlining factors that may consume a lot of time otherwise. Working with an Airbnb property manager can take the hassle out of the investment process and allow you to earn without the responsibility of daily duties.
What to Consider When Hiring an Airbnb Property Manager
While hiring an Airbnb property manager is very appealing given the results they are able to achieve, there are a number of considerations that must be made before choosing one. Not all managers are equal and it’s crucial to ensure you are hiring an experienced and reputable professional to guarantee the best results. Here’s what property owners should consider when hiring an Airbnb rental manager:
All Airbnb management companies will charge a fee to deal with your listing responsibilities. This cost will vary across the businesses that you consider and it is usually a percentage of the nightly rate. It’s essential to make yourself aware of a rental company’s fees and whether you are comfortable with their price point.
The Contract Length
If a company is asking you to sign onto a time restricted contract it’s important to understand what this entails and whether there are any cancellation clauses. The last thing anyone wants from their investment is to be trapped in a service that doesn’t get you your desired results.
The Company’s Reputation
An Airbnb management company’s reputation will give you a good gauge on how they operate. Take the time to read online reviews and possibly even speak with property owners that have worked with them before to gain an understanding about how they are to deal with.
The Services Offered by Your Property Manager
Ensure that the company you’re going with provides a full range of services to avoid any hiccups later down the line. A complete understanding of what’s offered will avoid any disagreements and disturbances in your listing’s performance.
The Listings Managed by the Company
Does the company you are considering have experience working with a property like yours? How are their current clients’ listings performing? Asking for examples of results a management company has generated for their clients can provide you with clarity around these subjects and help you make an informed decision.