There is a lot of work that goes into the management and upkeep of an Airbnb property. From photography to maintenance to communicating with guests to handling repairs, running a successful property can quickly start to feel like a full-time job. This is why a large portion of Airbnb rental property owners turn to short-stay rental management services, as they can handle all of the time-consuming tasks that come with being a successful host. With that said, many new property owners question whether property management is worth the extra investment.
To help you decide whether short-stay rental management is right for you, let’s take a look at why people choose to work with property managers.
What Do Property Managers Do?
Any time that an Airbnb guest decides to stay at your property, there is a number of tasks that must be completed.
These include:
- Making sure that all sheets and bedding are changed
- Cleaning each part of the house, furnishings and outdoor areas
- Conducting a full inspection of the property for damages
- Performing a security check on the premises
- Communicating with guests, including key handover
- Many, many more
While each of these tasks may sound simple on the surface, the process of turnover can take up to 5 hours per guest. So, for those that have guests coming and going on a regular basis, this is a considerable amount of time that needs to be accounted for.
A short-term rental management service will be able to take care of all these tasks and more. At Cozy Hosting Property Management Services, we handle your bookings from start to finish, whilst also providing additional services such as professional photography and the organising property styling services. As an added benefit, working with a property manager can also allow you to increase your rental yields.
How Can a Property Manager Earn You More Money?
As we mentioned in a previous post, the main factor that will decide your rental income is, naturally, your level of occupancy. A property with high rent may earn a considerable amount per guest, but that doesn’t mean too much if your property is left vacant. Some things to consider when looking to increase your occupancy rates include:
Understanding Your Location
Every location is going to have its own strengths when it comes to Airbnb occupancy. Some areas will be more desirable in the summer months, while others are more popular as winter getaway spots. By understanding your location’s strengths, you can begin to optimise your listings for them. There’s no point advertising your property as the perfect place to rest and relax if that’s not why visitors travel to your area.
A property manager will be able to research Airbnb user behaviour regarding your area and optimise your listings for what people actually want. This also ensures that your property management service has up-to-date information on shifting trends, allowing you to stay ahead of your competitors. This can also include finding festivals and events within your area that will draw in more bookings.
Picking Your Price
While you may see your property as the best in the area, having a price that is too high in comparison to your surrounding competition can cause considerable damage to your rental ROI. A property management service can research your competitors, determine what average pricing for your area is, compare your property with similar listings and find the ideal pricing for your property. This will ensure that your pricing is optimised to draw in guests, and will thereby increase your occupancy and rental yields.
By working with an Airbnb management service, you can increase occupancy, maximise your ROI, and avoid all of the manual work that comes with managing a short stay property. This is why so many Airbnb property owners decide to work with services like Cozy Hosting. Through optimised listings, handling maintenance work, communicating with guests and more, Cozy Hosting takes the hard work out of having a successful Airbnb rental. To find out what we can do for you, contact Cozy Hosting today for all of your Melbourne Airbnb management needs.