Are Airbnb Management Services Worth the Cost?
As a real estate investor, you might be tempted to assume that all you ought to do is conduct market and investment analysis, and then smile all the way to the bank. In as much as choosing a great location, developing attractive rentals are an integral part of the real estate business, they are just the tip of the iceberg when it comes to real estate investment. Whether you have chosen to do short term rentals or go the traditional rentals way, it is quite difficult to realize any profits if your rental property management is not top notch.
Short term rentals such as Airbnb are quite popular nowadays. Investors may get carried away into thinking that all they need is a perfect location to make money on Airbnb. There is a lot of property management work cut out for any such investor. Some of the investors may not have the management skills required or the time. That is where professional Airbnb management services come in. While these services do carry some costs - we must dig deep to discover if it is worth it!
Do You Really Need Professional Airbnb Management Services?
Typically, Airbnb guests will stay at your property for less than a month up to a few months. As a result of the constant flow of guest in and out of your property, you’ll have a lot of check-in / check-out work, maintenance and cleaning work to do. When you have a couple of properties on Airbnb getting booked regularly, the maintenance tasks can get overwhelming.
Basically, when they are too many moving parts in your Airbnb business, you need a management system. Professional Airbnb management services will take this burden off your shoulders.
The question really is: how much work can do on your own? You’ve got to explore your expertise, and whether you have the time carry out or supervise the work. In as much as the property management agencies have efficient systems that make their work seamless, it does not mean you cannot do it for yourself. What you need to ask yourself is: is this really worth my time?
This question does not have a single answer. It solely depends on your circumstances as the investor. Keep in mind that the key to making good money from short term rental arrangement like Airbnb is racking up those impressive reviews. That means having professional photos taken - to showcase your property in the best light. That means you’ve got to be available to your Airbnb guest whenever they need something. You need to react quickly to all emergencies and solve issues quickly. You also cannot let your guard down on maintenance and clean-up of the properties. There are many other aspects that come into play such as security, serenity, and many others. The bottom line is; you have to ensure you have to be on your toes to ensure your guest is enjoying their stay.
If you are not confident that you can achieve all the aspects outlined above, you should opt for professional Airbnb management services - like Frank Porter. Whatever cost you pay is justified by the hours saved doing it yourself! Furthermore - with in-house pricing, styling and communication - you can be sure your property is maximized to its best potential!