As a host or an owner of an Airbnb management company, you need to learn how to manage your business to compete with the top hosts on the platform. Here, at iGMS, we work with vacation rental property managers and Airbnb management companies every day. Therefore, we are aware of all the pains and headaches that they usually have to deal with.
With this in mind, we took the liberty to pull up all the key points on Airbnb management to provide you with the essentials. Here is our expert guide that will reveal all the vital information you need to run your Airbnb business.
The first step to setting up your Airbnb business is taking care of the necessary paperwork. You need to make sure that Airbnb is actually legal in your city by inquiring with your local government about the rules and regulations that apply to short-term rentals.
Airbnb provides a set of useful considerations on its website to give property owners and managers a general idea of what regulations can be included in their jurisdiction. You can use this page as a place to start with regard to researching laws that apply to your business.
However, to avoid any legal trouble, it is advisable to consult your local government, a lawyer, or a tax advisor.
Your next step is to obtain proper insurance. A simple homeowner’s insurance policy will not cover you as an Airbnb host. You’ll need to purchase business insurance, as well as, any supplemental coverage that might apply to your unique circumstances.
Depending on your account status, you may need to submit tax forms to Airbnb. In some cities, Airbnb will remit some tax payments to the local government on your behalf while in other places, you’ll be required to submit the tax payments on your own. You should find an accountant to advise you on the tax regulations that apply to your Airbnb business.
You’ll also need to set up an Airbnb management system to help you keep track of all of the money that you spend to operate your rental business. Making sure to keep any receipts and invoices, as well as, maintaining flawless records of rental periods is extremely important. You’ll need this information for tax season and in case of an audit.
To comply with the law and Airbnb rules and regulations, be sure to explore our other helpful resources:
As your Airbnb business grows, it’s unlikely that you’ll be able to handle all of the Airbnb management tasks, such as cleaning and maintenance on your own (and you shouldn’t).
Choose cleaning and maintenance services that specialize in short-term rental properties. Make sure to select Airbnb companies that are known for their reliability, flexibility, and have a good understanding of the business that you are running.
If you are going to manage your business from a distance, draw up a detailed plan to set up the whole process for managing your property remotely. Find a cleaning service, automate your check-ins and checkouts, and get vacation rental software to manage your daily tasks. Vacation rental software, such as iGMS, can help you manage your team, automate cleaning and maintenance tasks as well as other aspects of your business.
Learn how to subcontract cleanings and maintenance and organize your team management from a distance by reading these useful articles:
To be ahead of the competition, it is crucial to have a top-notch property listing. By improving its key aspects (such as Airbnb title, description, and photos), you will be able to get a boost for your Airbnb ranking. Besides, great listings always attract plenty of potential guests.
When optimizing your Airbnb listing, start with professional photography. Adding professional, high-quality photos is the best way to advertise your vacation rental and draw in potential guests. Other components of an outstanding listing are a catchy title, a comprehensive description of your property and amenities, and a complete host profile.
To familiarize yourself with the best practices of crafting a successful Airbnb listing, check out our other handy resources:
In a highly saturated industry, you can’t run a successful business without marketing.
The best recipe is to create a cross-channel marketing strategy to let your message reach a wider audience. First off, you should list your property on other vacation rental platforms. This will certainly help to increase your listing exposure and the number of inquiries.
A big plus would be if you can establish your social media presence. Create a business page on Facebook and set up an Instagram account. By regularly sharing content about your property, things to do in your area, and tourist attractions, you can build a solid audience of followers.
Launching a YouTube channel can also help to generate interest in your vacation rental. Your video content should appeal to travelers and be informative and useful. However, it will require more time and effort than other social media channels.
Email marketing is another channel to add to your marketing mix. Staying in touch with your past guests and providing offers and discounts will keep your property full, regardless of the season. This cost-effective technique can help you generate good returns on investment and keep your calendar full all year round.
Learn more about marketing techniques by reading these articles:
If you are eager to learn more about vacation rental marketing and smart techniques that will help promote your property, be sure to check out our comprehensive vacation rental marketing guide:
As a full-time host, you have more than enough time-consuming tasks that need to be accomplished on a daily basis. It becomes even more challenging once you start managing multiple accounts. To decrease your workload, use rental property management software to automate repetitive tasks. Some examples of such tasks include sending follow-up messages to your guests and getting reviews for your listings.
Try using iGMS – a vacation rental software solution for pro hosts. Our tool comes to your rescue when you need to automate multiple operational tasks, helping you to enhance your business. By employing iGMS, you will be able to set your business on autopilot and get more time for scaling your business.
Another idea is to automate your check-in and checkout process. For this purpose, you can opt for smart locks or use key exchange tools such as KeyCafe or Everydoor. These key management services can make the process of guests’ arrivals and departures completely hassle-free.
Check our other articles to find out more about using automation and selecting the best tool for your needs.
To discover more ideas on how to automate your operations and take the hassle out of your Airbnb management, check out our special guide.
The best way to manage your pricing is by employing automation. You might want to consider using software that will enable you to apply dynamic pricing to all of your listings. This will ensure that your Airbnb pricing is always competitive and adjusts appropriately during the high and low seasons of your Airbnb business.
Your Airbnb pricing strategy will make or break your profits that your vacation rentals generate. Therefore, you should take great care when organizing your pricing strategies.
If you struggle with setting the right price and want to secure bookings regardless of seasonal demand, explore these helpful articles:
The statistics show that hosts who set up a minimum-stay requirement for their listings can increase their profit. Besides, adding a minimum-stay requirement saves you time and effort in preparing your rental after short one-day stays.
Usually, hosts opt for a three-night minimum stay and are doing pretty well. People who need long-term stays tend to book in advance. However, don’t worry if you see a couple of vacant days ahead on your calendar. You can always revert to one-day stay reservations.
Airbnb allows you to add additional fees to your listings which you should take advantage of. These options are available so that you can charge guests a cleaning fee, a fee for extra guests, or bringing pets.
If you provide extra services such as bicycle rental or airport pick-up/dropoff, you can also charge for them. However, make sure that you disclose this information in your listing to avoid your guests from being unhappily surprised.
When it comes to getting help with using your Airbnb account, Airbnb Help Center is the number one resource that you should turn to for support. Airbnb Help Center offers very detailed, localized FAQ sections to help you with all of your Airbnb questions.
During your hosting career, you might encounter serious issues that may require urgent help. To get your issues resolved, you can contact Airbnb customer service. There is a complete set of communication options available. Thus, you can contact Airbnb via phone, email, or even social media.
Airbnb Community is a forum run by Airbnb that is designed to allow hosts to get help from Airbnb while also discussing important hosting-related topics with other Airbnb hosts. Here you’ll find a wealth of Airbnb management tips and other information that can help you increase your chances of success with the Airbnb platform.
Air Hosts Forum is a third-party forum (not managed by Airbnb) filled with short-term rental hosts. The mission of the forum is to connect hosts with other hosts and property managers and allow them to share their experiences.
Forums like these are helpful because hosts are often more willing to discuss the details of their hosting experiences that they might not otherwise share on Airbnb directly in order to protect their businesses.
iGMS is a professional all-in-one vacation rental software solution with direct integration to major platforms including Airbnb and HomeAway/Vrbo. iGMS offers a wide range of features such as automated guest communication and reviews, team management, channel management, financial reporting, and lots more.
Outsourcing your cleaning is the first step to making your Airbnb management process easier. By hiring a professional team of cleaners, you can take your cleanings to the next level and get more 5-star reviews from satisfied guests.
Check out these platforms that allow finding and hiring subcontractors to help you with tasks such as cleaning, maintenance, designing, and even marketing.
Handy – Allows you to book professional cleaners, they also provide handymen, electricians, and plumbers at a moment’s notice.
Airtasker – Connects people who need to outsource home cleaning, handyman, gardening, and other tasks with professionals who provide these services.
Maidthis – MaidThis specializes in turnover vacation rental cleaning for hosts and currently services in Los Angeles, Orange County, and San Francisco, California.
Here are some of the most popular short-term rental services that will help you with the key exchange:
Keycafe – Keycafe is a secure key exchange service providing an easy way for homeowners to manage the check-in/check-out process. Keycafe stores your keys at one of its nearby locations, allows you to remotely assign access and notifies you when your keys are picked up and dropped off.
Everydoor – Everydoor software connects to your intercom system and smart locks giving easy access to your property for your cleaners, and guests. All they have to do is follow the easy instructions on their smartphone.
August – August is a smart home system that allows you to give keyless entry via an August Smart Lock to Airbnb guests and housekeepers. The company has partnered with Airbnb to help hosts manage entry to their properties.
Use the service below to automate your listing pricing:
Beyond Pricing – Beyond Pricing is a dynamic pricing tool that allows you to link your Airbnb account in order to automatically update your pricing daily.
Managing your Airbnb business gets far more challenging once it starts gathering pace. However, choosing to be a jack of all trades is not the best strategy in this case.
It is true, there are many aspects to control and many tasks to perform. Though, you don’t have to plunge ahead blindly with numerous operational tasks while there is a plethora of great tools and solutions that can come in handy. Automating your business can help you to break out of a vicious circle of routine tasks and responsibilities.
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