馃攳
How to Run an Airbnb Business from Anywhere in the World! - YouTube
Channel: STR University
[0]
hello youtube this is richard founder of
short-term rental secrets.com and
[3]
Airbnb super host on today's episode
we're going to answer a subscribers
[7]
question which is how do you manage
listings remotely ie in places that you
[13]
don't live day to day so in my personal
experience there's three different
[16]
business models that all work one's not
better than the other they just have
[19]
different pros and cons and price points
and the question is how much involvement
[23]
do you want and so we'll get into that
in a second but let's go ahead and label
[27]
what they are so the first one that you
could work with is what's called a full
[30]
scale property service team this is
likely a corporation it might be called
[34]
Acme property managers and they're in
and around the community where your home
[39]
is
and they likely manage 20 30 50 60
[42]
different properties and you're just one
of their portfolio of properties that
[46]
they've managed from A to Z the second
one is a much smaller scale much more
[51]
entrepreneurial it might be an
individual or a couple like Billy and
[55]
Monica they may not even be incorporated
but they make all of their income from
[59]
managing the vacation properties or the
remote properties in your area and
[63]
instead of having 40 50 or 60 under
their belts they really can't handle
[68]
more than say five or six and so that's
a second alternative and then the third
[73]
alternative is to not have property
managers at all but go out and assemble
[78]
your own cherry-pick team of people that
do things like cleaning and when there's
[82]
a plumbing issue a plumber and so you
basically oversee it you are the
[87]
property manager and you just have hands
and feet on the ground so the obvious
[91]
question is what are the pros and cons
for each one well let's start with
[94]
number one the property manager likely
the most turnkey solution the most
[99]
scalable the most automated requires the
least amount of time and energy from you
[104]
but it comes at a price
likely they're going to charge the most
[108]
maybe as much as twenty or more percent
of your rental income to handle it and I
[113]
also think that the quality of service
can be variable since you don't have a
[118]
consistent team always working on your
property they have different employees
[123]
coming and going and so on sometimes I
have found that there's a variability in
[128]
the quality of attention that my
property received the second business
[132]
model the
Nouriel individual or the couple is a
[136]
solution that I tend to look for but the
pro is that you really get personal
[142]
experience they get to know your home
they get to know the area their
[145]
dependence on you for income so like to
actually care about the relationship and
[149]
therefore they really try and make it
work you know for both you and them and
[155]
the guests so that's a really good
solution it comes at a lower price point
[159]
typically than a full-service one
because they don't have the same
[161]
overhead but it is still relatively
expensive now the con is they can be
[166]
hard to find and you are dependent on an
individual or a couple and things happen
[172]
to an individual or a couple like they
get sick or they take vacation or they
[176]
move out of town or god forbid somebody
passes away and now your business is in
[181]
jeopardy
the third option where you assemble your
[183]
own go-to team of people the pro is the
cost is the lowest and the quality can
[189]
often be the highest because you're
actually involved the attention to
[193]
detail and the quality control is the
highest the con is it's hard to find
[199]
these people there may be turnover so
you may be looking for them you know
[202]
repeatedly or time and time again and
thirdly if you're new to the area
[206]
entirely like for instance I bought a
home down south I'd never really been
[209]
there I don't know who the good plumbers
are I don't know who the good HVAC
[213]
people are I had to develop that network
over time and that can take some time
[218]
and effort and if you're not prepared to
invest that that's a negative so let's
[222]
turn to how do you actually find these
people and how do you differentiate you
[226]
know between and amongst them so the
first one is relatively easy on the
[229]
property management side just Google
look at Yelp reviews the one thing that
[234]
I would recommend and I think people
just don't do enough of is before you
[238]
hire them ask for a list of references
and then actually I call them and ask
[242]
some questions
how long have you used on how many times
[244]
have they done turnover did they ever
miss a same-day turnover have you
[248]
noticed any deterioration in your
reviews you know like the cleanliness
[251]
gone down how attentive are they just
ask like questions that would help you
[255]
make a decision between hiring Acme
property management and beta
[260]
property management so the second group
of the individual or the couple the
[264]
entrepreneurs that handle
they're a little bit more challenging to
[268]
find and really you have to do a little
bit of legwork and that includes going
[271]
into the local real estate offices and
asking them if they know anybody
[274]
oftentimes they do
rights like my sister does this on the
[277]
side or you know I know this homeowner
and they seem to have a caretaker that
[281]
might be what they call them a caretaker
that takes care of their property
[284]
they're really happy with and again
you're going to need several different
[287]
names and numbers and you're gonna have
to question them but speak to everybody
[289]
when you go down to this property ask
your contractor ask your electrician ask
[294]
the waitress ask whomever you want to
assemble as many opportunities and names
[298]
and then speak to them and see which one
is the right fit because that fit is
[302]
really important they're all going to do
good work but who do you get along with
[305]
working well when it's midnight on a
Friday and there's an ice storm and you
[309]
need help the cleaning team is an
interesting one because there's a couple
[312]
of different things you can do you can
literally do a google search and then
[316]
just look at reviews on Yelp and so on
and here you might find entrepreneurial
[321]
people that are advertising or have
their own website and you want to try
[324]
and strike a business relationship right
beyond transactional you don't want to
[328]
be just somebody's called them and hired
them once you want to explain to them I
[332]
bought this property I have a 30-year
mortgage I'm going to own this thing
[335]
outright I'm going to be here for 30
years and what I really want is somebody
[339]
on the ground who is responsive to me
and doing the cleaning to my level I'd
[343]
like to try you out I want to see how
clean it is and so like that's one
[347]
option is where you're looking for
somebody and you're partnering with them
[350]
and then of course the other alternative
is to do and I recommend you do them
[354]
both a ton of networking and find out
who's good in the neighborhood heck find
[359]
other hosts in your neighborhood and
ring their Bell and knock on their door
[363]
and say who does your cleaning and are
you happy with them so this requires a
[367]
little bit more legwork but if you find
a good team you're going to be really
[370]
happy so just to give you a very broad
sense of what you might expect to pay
[374]
for these different levels of services
and again there's different geographies
[377]
and different vacation versus urban but
let me just try and paint a broad stroke
[382]
that full-service property management
team is likely going to be somewhere 20%
[386]
or north of your entire rent role now
that might be an obstacle and make it so
[392]
it's not even possible if you're trying
to pay your mortgages and expenses and
[395]
so on you have to take a look at your
net number and make sure that
[399]
after you pay them their fee their cut
that you have enough money left over and
[403]
you may not so like don't consider that
that second group which is more
[408]
entrepreneurial they do similar services
that's going to come at a discount
[412]
because they don't have all the same
overhead and office staff and people
[415]
answering the phone and so instead of
paying 20% you should look to pay 15% or
[420]
ideally 10% maybe even less it really
depends but it should be at a discount
[425]
to that first group where it's a
property management and then the third
[429]
one which is really just a cleaning team
if you will there I recommend that you
[434]
strike a flat rate so for every turnover
you pay a certain amount and it should
[439]
be based on how many hours you think
they need to spend there and what the
[443]
local wage is but just to give you an
example it might be 15 to 20 dollars per
[448]
hour and for a modest-sized home it
might be a four hour or six hour
[452]
turnaround and so maybe it's a hundred
one hundred and fifty two hundred
[456]
dollars and if you watch my should I
charge a cleaning fee video you'll see
[460]
that I suggest charging even a premium
of that so you make a little bit of
[463]
money on the cleaning fee so currently I
use a mix of the second option and the
[468]
third option I don't use any full-scale
property managers I really solid people
[472]
in place both at that second option and
the third and it works really well for
[476]
me but one tip that I would share with
everybody is no matter where you go
[480]
whether it's the first second or third
you want to be really involved you want
[484]
to be really knowledgeable you want to
be really clear and train these people
[487]
to work with you for your standards
right just because they're professional
[491]
cleaners or professional property
managers doesn't mean that they know the
[494]
way that you want your home cleaned or
the way that you expect it to be set for
[499]
guests and so be really thorough and be
really detailed and have them come clean
[503]
when you're on location as you start to
build the trust in your team you can
[508]
spend less and less time and rely on
them more and more knowing that they're
[512]
fully trained and capable and executing
at your standards the subscriber thanks
[517]
so much for asking the question I'm sure
it's a question that's on many people's
[520]
mind and I just sort of take it for
granted so I really appreciate you
[523]
reaching out if anybody has any comments
or questions go ahead and leave them in
[526]
the comment section like the video
please I'd really appreciate that and
[530]
like I said we have a lot more content
coming
[532]
including how to automate all of this
and to stay in contact go ahead and
[536]
subscribe now please go ahead and
subscribe we really appreciate it they
[540]
have content coming out Monday
Wednesdays and Fridays on the primary
[543]
voice of more money in your pocket until
then happy
Most Recent Videos:
You can go back to the homepage right here: Homepage