Should You Hire a Property Manager for Your Airbnb?

airbnb property management

It’s easy to see the potential financial benefits of Airbnb in today’s era of side hustles and gig economies, especially if you live in a tourist destination. But Airbnb property management takes a lot more time and expertise than most people realize.

Whether you renting your own property or an investment one, being a host is far from passive. Managing bookings and cleaning schedules, communicating with guests and prospects, and maintaining your rentals all require time and money.

If you’re doing it all yourself, you could be sabotaging your profitability.

Take a look at why many hosts choose to hire a property management company to handle their Airbnb venture.

What Does an Airbnb Property Management Company Do?

Mastering the short-term rental market is no easy feat. You don’t have the luxury of having guaranteed income for weeks or months at a time, which means you need a continuous supply of renters to maximize your income.

Enter property managers, the real heroes of an Airbnb business.

They do all the heavy lifting for you, from responding to prospective guests to managing listings and cleaning schedules.

Airbnb property managers make it possible for anyone to become an Airbnb host, even if you don’t have the time to personally invest in the business. They take most of the work off your shoulders so you can focus on other things.

And, in many cases, becoming profitable with Airbnb rentals simply isn’t attainable without a good property manager.

Benefits of Hiring a Property Manager

Having the right property manager for your Airbnb rentals can be the difference between a full house or an empty nest.

Property managers specialize in creating listings, sourcing renters, and pricing strategies to attract guests. This gives you an edge over the competition in your area because you benefit from the property manager’s experience.

In addition, leaving all the details to the manager gives you more flexibility. You don’t have to be on-site for every check-in or check-out. You can run other businesses while enjoying an Airbnb revenue stream.

As a result, you can spend less time trying to figure out how to turn a profit and more time enjoying the results.

Downsides to Consider

Hiring a property manager isn’t without its flaws. For starters, it costs money.

Property management fees can vary between companies, but either way, it’s an expense that eats into your overall gains.

Sourcing a reputable company has its challenges, too. This niche market has experienced rapid growth in recent years. With over 4 million Airbnb listings worldwide, there’s much incentive and a low bar to entry for management companies.

If you choose a management company, it’s important you do your research to ensure you can get the best possible ROI.

Final Thoughts: Hire a Company or Do It Yourself?

Doing your own property management isn’t always the cheaper option, especially if you lack experience. The time you spend learning how to market and price your rental can quickly negate any financial benefit of running your business yourself.

Hiring an Airbnb property management company can allow you to maximize your rental for less than what you’d spend doing it yourself. Let eFind Agent help you find the best property management company for your Airbnb rental.