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Do I need an Airbnb property management company? - YouTube
Channel: Fully Booked Consulting
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so do you think you need a vacation
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rental management company to run your
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Airbnb or VRBO well in this video I'll
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walk you through the options you have
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and you may find that maybe you don't hi
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I'm Heidi m芒che and I'm a marketing
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strategist for vacation rental
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homeowners my company fully booked
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consulting works with homeowners across
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the country to get their property listed
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on these sites and ranked highly so that
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they can get booked as an Airbnb super
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host and a premier partner myself I know
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what it takes to get to the top of the
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rankings and if you save in the end
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you'll learn about the free guide I have
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that will be perfect if you're just
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getting started and I'll walk you
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through exactly what you need to focus
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on when you first decide that you're
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going to list your property as a
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short-term rental you have a lot of
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decisions to make and one of the first
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decisions is how are you going to manage
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your rental well in this video I'll walk
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through the top three most common ways
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that you can manage your rental and I'll
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walk through the pros and cons of each
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one so that you can decide which option
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works best for you option number one is
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a traditional management company
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typically this is going to be a company
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that is local in your area and it's
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really full-service they are going to
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handle everything for you from getting
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your sites listed or your property
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listed they're going to do the marketing
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and the inquiry management and anything
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that has to do with the maintenance of
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the home as well as the cleaning
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schedule it is full service so that's
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really the pro is that that it's stress
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free and it's a great option if you are
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especially not close to your property
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now the cons is that this is the most
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expensive option typically property
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management companies are
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charging anywhere between 30 and 50
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percent of your rental income so you'll
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just want to do the numbers there if you
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think that this is the option is really
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understand how much income they can
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bring in for you and you know if they're
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taking 30 to 50 percent what does that
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leave you and can you pay the bills and
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hopefully still profit off of that now
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something to keep in mind if you go the
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route of a traditional property
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management company is that in a lot of
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cases the way that they set up is that
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they will manage your property under
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their profile which means that all of
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the guest data that is associated with
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your bookings and the refused they will
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essentially own or keep so if you are
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deciding that maybe in a year or two you
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might want to manage it yourself then
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you might be starting from scratch when
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you do that meaning that you won't have
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any reviews and you won't have that
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guest data as far as email addresses etc
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so if you are going to go this route to
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begin with ask those questions and
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understand what does it look like if it
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doesn't work out and you want to change
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how your property is managed in a year
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or two option number two is what I'm
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calling modern property management and
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what this is is it's really a twist on
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the traditional model in the sense that
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these companies aren't necessarily
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locally base they are remotely managing
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a large portion of it but then they have
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on the ground services in your area
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depending on what company you go with
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the key players in this space include
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evolve vacasa and turnkey and each one
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of these has a unique business model
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with different services where evolve is
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really more on the front end than
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anything else and
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you would be responsible for the
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underground services turnkey and
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vacasa have more on the ground services
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and the price goes up for those
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companies because of that so you would
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just have to evaluate what exactly
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you're looking to take over and then
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decide which company is the best fit for
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you so the prices here range from 10% on
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the lowest end with evolved being at the
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10% since they're really just doing the
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front end and you're still having to do
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a big portion of it I'm back in and then
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vacasa and turnkey are a little bit
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higher and prices range from 20 to 30
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percent of rental income for those ones
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now the pros of going with one of these
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companies is that these are companies
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that really focus on technology and
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marketing and so they have a set of
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thousands of listings and they have a
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great process that will get you listed
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and also get you listed on multiple
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booking sites all at once because of the
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technology that they have in place they
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can really get that going for you
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quickly so that is a major pro if you
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want to just get up and running and have
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some solid marketing right out of the
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gate now the cons could be that you it's
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not as full-service
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potentially depending on which company
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you go with so again you'll want to look
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into each of these and evaluate what
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works best for you and then just
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something to keep in mind just like the
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traditional company route is that you
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will want to inquire about if this
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doesn't work out what happens when I
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want to move my listing elsewhere so
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definitely find out what happens to the
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reviews will those transfer over and do
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you get any of the guest data like email
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address
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so same thing with the traditional
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company you want to check on that option
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number three is self-managed
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self-managed is the option that we have
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chosen for our rental property and the
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option that most of the homeowners I
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work with have chosen as well and this
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means essentially you are the booking
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manager you're responsible for the
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calendar the marketing the cleaning the
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property management all of it it really
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will fall on you as the main point of
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contact now this could mean that you are
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the person doing all of these tasks or
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you are deciding which pieces of this
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you are going to hire out now one
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question I get asked quite often is can
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I choose the self-managed route if I
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live remotely and the answer absolutely
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is yes and I work with many homeowners
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that manage it this way the key to this
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is just that you have established local
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contacts that you can trust that can be
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your eyes and ears for your property now
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the pros with this option of course is
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that you have full control over your
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property you have control on how you
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market it and where you market it your
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messaging marketing the the tone that
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you set with your guests and how you
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communicate with them all of that is
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fully under your control which is really
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the reason why many homeowners choose
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this option now of course the kind is
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also you are fully responsible for
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everything so that means that you will
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have to make sure you know exactly how
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all of the pieces are going to get
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accomplished and also in a lot of cases
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means you are in the main point of
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contact regardless of what time it
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is so that is something that you will
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want to evaluate is argue okay with that
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or and if not maybe you can hire out you
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know pieces of that you have someone to
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manage the enquiries piece of it but
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you'll want to keep that in mind if
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you're deciding to go the self-managed
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route if you're going the self-managed
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route it's imperative that you have
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systems and a marketing plan to get your
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listing seen and booked so I have a free
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guide for you grab it in the link below
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and it's a marketing roadmap and it will
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walk you through the seven most
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important steps that you want to focus
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on when you are first getting it listed
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so be sure to grab that free guide if
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you like this video please let me know
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by giving it a thumbs up subscribing to
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the channel and also comment below with
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which option you are going to go with I
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would love to hear thank you so much for
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watching and I post new videos every
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Tuesday so I will see you next week
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[Music]
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you
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