As an Airbnb host or Airbnb management company, you need to learn how to deliver and to manage your business to compete with the top Superhosts on the platform. At iGMS, we work with Airbnb companies every day so we know their pains and headaches. We took the liberty to pull up all the key points on Airbnb management in one article to provide you with the essentials. Here is our expert guide that will disclose all the essential 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 may provide at least some of the Airbnb management information that you need to know directly on their website page for your city. You can use this page as a place to start with regard to researching laws that apply to your business.
Next, you’ll need to obtain the 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 on 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.
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.
In order to outdo the competition, you’ll need to familiarize yourself with the channels that will work for you— Facebook, YouTube, etc — by finding ways to measure the number of people that each channel brings to your listings. Track your results with short links and use guest reviews to boost your position in the search engines. You can also hire a marketing company to help you get better results if your budget allows for it. Don’t forget to answer fast and change your prices frequently. This will instantly improve your Airbnb SEO.
To decrease your workload, use software to automate the repetitive tasks related to your property and during check-in. Some examples of Airbnb management tasks to automate, include sending follow-up messages to your Airbnb guests and regulating the temperature and lights at your property. For the entryways of your property, install smart locks or using key entry services. Try using vacation rental software such as iGMS to completely automate your day-to-day activities.
The best way to manage pricing for your Airbnb listings is by using automation. You might want to consider using Airbnb management 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.
Airbnb allows hosts to use many filters. You can increase your bookings by setting a 3-day minimum stay so that you don’t have a situation where guest books a 1 night stay on Saturday so that you don’t end up with days that aren’t booked during the weekend or holidays. Don’t underestimate the usefulness of these filters.
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 and for extra guests. Don’t feel awkward for adding some extra fees in order to cover your expenses.
Your Airbnb pricing strategy will make or break your profits from your vacation rentals. As a result, you should take great care when organizing your pricing strategies. You can find more on how to create a pricing strategy here in our article.
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 and you can also contact Airbnb via email or social media for assistance.
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 allow them to share their experiences. Forums like these are helpful because hosts are often more willing to discuss the intimate details of their hosting experiences that they might not otherwise share on Airbnb directly in order to protect their businesses.
iGMS –all-in-one vacation rental management software specifically for Airbnb businesses that allows users to control bookings and alterations, guest communications, as well as automate day-to-day operations.
Below are some options for outsourcing your cleaning:
Maidthis – MaidThis specialized in turnover vacation rental cleaning for hosts and currently services Los Angeles, Orange County, and San Francisco, California.
GetMaid – GetMaid is an on-demand, premium maid service based in New York.
Handy – Allows you to book professional cleaners, they also provide handymen, electricians, and plumbers at a moment’s notice.
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 rental guests for services. 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.
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.
Of course, those are just Airbnb management essentials. Read more articles