Running an Airbnb property is a full-time job, as many a host knows. When your business is thriving it makes sense to consider enlisting some help. Whether a close friend, family member or a professional, co-hosts help Airbnb listing owners offer a better quality vacation rental experience.
Let’s unpack the dynamics of co-hosting on Airbnb.
First and foremost, a co-host is a person who manages a listing or multiple listings on behalf of the Airbnb owner.
The co-host or hosts take responsibility and care for the Airbnb home and the guests. They act as a trusted pair of hands that can make all the difference to a successful Airbnb property.
Co-hosts can be family members, partners, neighbors, trusted friends, or professionally hired individuals to help owners manage their vacation rentals better.
They can help a listing owner with all aspects of vacation rental property management, including caring for the space and the guests.
There are several ways to share hosting responsibilities. Hosts and Co-Hosts need to communicate well and be clear about who is taking care of what to ensure a smooth operational service.
Here are some of the primary Airbnb co-host responsibilities hosts can assign to their assistants:
Co-hosts who value their time can use automation to manage their listings and ensure personalized communication with guests. Start your free trial with iGMS today.
Insurance-related claims: An Airbnb’s Resolution Centre, co-Hosts cannot open or respond to damage or insurance-related claims. Primary Hosts or Host owners can only open a claim.
Review Transactions: In Transaction History, Co-Hosts can review payout transactions for listings to which they have been added (without being able to view the payout method information). For example, Co-Hosts can check the payout status and see when cancellations or alterations have been reflected.
Taxpayer Information: Co-Hosts cannot access the listing owner’s payout or taxpayer information. And they can’t review the listing owner’s activity traveling on Airbnb as a guest.
Co-Hosts: The account owner is the primary Host by default but may designate a Co-Host to be listed as the primary Host.
All your Co-Hosts have the same limited set of permissions, and they never have access to your transaction history. If you decide you don’t want your Co-Host to have access to the above tasks, you can remove them as a Co-Host.
Paying your Airbnb co-hosts is easy. Just as you would add your payout method as an individual host, you can opt for split payment under the “routing rules” option inside your payment method dropdown.
From here, you’ll need the bank details of your co-host so they can receive the payments accordingly. If your co-host isn’t comfortable sharing their bank details, you can collect the total amount and split it outside the Airbnb platform.
So how much does an Airbnb co-host make? Airbnb co-host fees can vary significantly based on their responsibilities, the size of the property, and where they are located.
On average, Airbnb co-hosts charge 10-20% of the nightly rate without cleaning the rental property. So, for example, if you co-host an Airbnb that earns $30,000 per year, you can expect to earn roughly $3,000-$6,000.
However, suppose your responsibilities include taking care of everything from check-in and check-out to managing guest experience and cleaning. In that case, you could charge up to 25% or a flat management fee.
It’s up to you to enter into an Airbnb co-host agreement with the primary Host for a fair price because your duties as a co-host will determine your potential earnings. But, of course, the more you do, the more you earn.
Airbnb requires a co-host to sign the Terms of Service policy, but hosts and co-hosts can also write their specific agreement.
It’s essential to ensure that all terms and expectations are clearly stated. For example, hosts and co-hosts need to determine hosting responsibilities and be clear about who does what, specify co-hosts’ earnings, and decide how the co-hosts will be reimbursed.
You can use or alter a pre-made Airbnb co-host agreement or hire a lawyer to draw up an agreement for you. But that will come at an additional cost.
Your agreement should stipulate who owns the property, the property address, who is the co-host and the point of contact.
The list of responsibilities and tasks above is extensive. Your co-host agreement should specify who takes care of which duties.
It should also actively state the work timeframes of the co-host. Whether they will work occasionally or if they will be working during each booking.
The co-host cannot manage payment and transaction history and taxes, and the agreement needs to be clear with the roles of the Host.
The Co-host’s percentage and payment method need to be outlined in the agreement. It should also detail when payment happens.
Ideally, payments for the vacation rental should be covered by rental revenue from hosting. Owners are usually responsible for the utilities and maintenance of their properties.
Expense payment needs to be discussed before welcoming guests with a co-host because no one wants to have to pay unfairly.
Accidents, unfortunately, can and do happen no matter how many precautions you take. Therefore, it’s essential to know beforehand who holds responsibility for the accident and how payment will be dealt with when something needs to be fixed.
Added to this, stipulate who is covered by your vacation rental insurance. Monthly payments to the insurance company must also be worked out in the expenses portion of the agreement.
The agreement should detail who needs to check safety regulations and the ongoing compliance measures required for the vacation rental unit.
Make sure your Airbnb co-host agreement takes into account all occurrences.
iGMS software specializes in automating rental management systems and processes, freeing up dozens of hours every month. Its core tools and features enhance co-hosting.
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