Do you have a house or an apartment that you rent out on Airbnb? Does it take up too much of your time or cause you headaches or extra stress? If you answered yes to all of these questions, it might be time to consider hiring a manager to do it for you.
If you are not sure, or if you have doubts about whether that person would be able to run a business that pays for your vacation or brings bread to the table, our advice is to put everything on paper, compare the pros and cons, and finally decide if it is a good decision or not.
Sounds good? Let’s get started.
Let’s start with the good stuff.
1. Saving time and money
Renting out apartments can be a tiring job because of the time it takes. It’s not an ordinary eight-hour-job. Instead, you have to be on speed dial all day every day in case something happens.
Also, finding a cleaner, paying bills, performing minor repairs, checking in and checking out guests, billing, and so on – all these things require your time, but also money.
By hiring a manager for your property, you are streamlining all these tasks and responsibilities to them. Thus, your precious time is freed up. But how does this save you money? Because property managers work with companies and have a developed network of these services, these services are more affordable because they are performed in bulk.
2. Not interacting with guests
Working with people can be tiring, right? Because you can’t choose your guests, as well as their personality, there is a possibility that you will meet people who are very difficult to work with. And maybe you are not easy to work with either. Either way, this can cause inconvenience that can make your job even more difficult.
But if you hire a property manager, you can count on all human interactions to be professional and pleasant, because these people know what they’re doing. The bonus to of all this is that you will never have to make a single conversation with future guests again.
3. Professional financial handling
If finances and everything related to them is causing you too much stress, these managers are the right thing for you. In addition to saving time in bank lines, you no longer have to bother with paperwork, accounting, taxes and other things.
Also, if you are not familiar with the prices of apartments that are similar to yours or are located in the same part of the city as yours, and you fear that you will charge too much or too little – don’t worry. These people are more than familiar with the market, therefore, they will do their best to ensure that your listing is properly priced.
4. Regular maintenance and cleaning
If you are not skilled in repairs or you cannot find an adequate handyman for your problem, your troubles have come to an end. Not only do these companies have a developed network of professionals who can solve these problems, but they are all available to you instantly. How? The manager will do it for you.
Likewise, you no longer have to worry about whether your guests will be satisfied with the hygiene and cleanliness of your apartment because these companies have proven people who will certainly do a good job.
5. Receive professional marketing and advertising services
In order to make good money from this type of business, you need to find good platforms on which to advertise your services. Since there are so many of these platforms, it can be a big problem to find the right one.
Also, if you don’t have the marketing skills to attract guests, you risk losing money.
Luckily for you, these companies, in addition to all the services they offer, also advertise your apartments in the right way and on the right platforms.
6. Peace of mind
The last time you went on vacation, did you worry about your apartment and who is in it? Or did you decide not to rent it for two weeks and thus lose potential earnings? Well, the next time you go on vacation, you don’t have to do either!
While you rest, the property managers will do everything in their power to ensure that your business continues smoothly while you relax on the beach and drink a cocktail. How? Well, we have already said everything, but if you still have some doubts, you can find more info over here.
When you hire an Airbnb property manager, one thing is for sure – you can always rely on their abilities because they have a load of experience under their belt.
Your apartment is certainly not the first one they managed. They have been in this business for years, and over the years they have solved every possible problem, which means they have a lot more experience than you. With that in mind, they will surely do a great job.
Now let’s look at the cons.
1. Initial fees
Although these services will save you money, they are not free. Before the managers can take over your business, you will need to pay them. This won’t be a huge expense, especially compared to what you would spend if you were to hire cleaners yourself, pay for ads, or call a handyman to fix a leak in the tub. So, if you want to experience the good side of this, be prepared to spend some money early on.
2. Not being involved
While these professionals know what they’re doing, we also understand that it’s not easy to leave your livelihood in the hands of someone you don’t know. While we may consider this a downside, if you do your research and hire a respectable manager, this con certainly shouldn’t bother you.
3. Finding a reputable property management service
On that same note, it can be quite difficult to find a reputable property manager in a sea of imposters. You will need to sit down at your computer and do adequate research To conduct thorough research, you will need to read up on people’s previous experiences, reviews, and maybe even ask your friends or family, if they are in the same business, to give you some recommendations.
As you can see, the pros of hiring an Airbnb property manager far outweigh the cons. Even though there are some cons to this, it really isn’t hard to see how this could make your life a lot easier.
So, what do you think? Is it worth it to hire a property manager? We think so.