In short, an Air BNB Property Management company should do everything necessary to maximize the revenue of your rental property while maintaining, if not improving, the quality of it. This, at the bare minimum, includes:

• Cleaning the property or coordinating cleaning
• Restocking the necessities (towels, bath towels, toilet paper, paper towels, etc.)
• Checking in with guests
• Handling issues as they arise

Most management companies will also create and manage your listings, help with marketing, and send monthly P&L reports. The question is, if all management companies offer those means of support, then what makes them different? A few things for you to consider when selected the right management company:

• Additional features
  • Smart Lock Upgrades
  • 24/7 Customer Service
  • Listings on multiple sites
  • Social Media
  • Interior Design
  • Professional Photography
  • Dynamic Pricing
  • Hosting Site
• Management Fee
  • Most managers charge just one fee
    • Don’t fall victim to onboarding fees!
  • A good manager will charge you *only* on the nightly rate
  • Realistically you should never have to pay more than 25% (at the absolute highest)
• Contract Commitments
  • Traditional property management might bring a contract commitment of 12 months or longer, STR property management contracts typically are month to month or no commitment at all
• Technology vs. In-Person
  • Many independent managers rely heavily on in-person services and skip on technology
  • Many of the larger national companies rely heavily on technology and skip on in-person
• Transparency
  • Perhaps the most important, is your management company transparent with you?
  • Do they charge hidden fees?
  • Are owner reports and P&L statements delivered late? Or not at all?
  • Do they ambiguously categorize costs?
    • For ex. Charging “inventory costs” without providing receipts
• What do they offer for free?

 

Most Property Management companies will provide a free consultation to tell you what your property can earn, how they would manage it, and what the fees would look like. When discussing this, take notes, and use them to compare and contrast your options. And remember, a good property manager will make it their priority to earn you money, so if at any point it doesn’t feel like that’s the case, then they’re not the right manager.

At Awaysis, our number 1 priority is our owners and our guests. We make it our mission to provide an incomparably luxurious experience for all our travelers, while earning our owners as much as possible without requiring any effort whatsoever! Some of the great things that make us unique:

• No contract commitments
• One industry low fee (and we can beat any rate!)
• 24/7 LIVE customer service
• Free interior design consulting & staging
• Free professional photography
• Dynamic Pricing
• Listing creation and management across 5 different platforms
• Consistent Monthly, Quarterly, and Annual P&L and Owner Reports
• 30 Day Money Back Guarantee for New Owners!