As of 2021, the global property management market was worth USD 17.69 billion. There are hundreds of thousands of property management companies in the United States and this market is constantly growing.
Because of this, it can be difficult to narrow down your selection when you are looking for a company to manage your Airbnb property.
Do you want to learn more about choosing an Airbnb property management service? Keep reading this guide for the top things you should consider when selecting a property management service!
Check Online Reviews
When you are hiring a property management company, you must check the online reviews for each Airbnb property manager that you are interested in. Companies with an online presence and great online reviews will prove that they have taken care of their past clients and that they provide high-quality services!
Make sure you look at many different reviews. This way, you can get an accurate portrayal of the company without too much bias!
You can also look at other online resources for complaints from past customers. This includes Angi, the Better Business Bureau, and other local platforms.
Great Customer Support
Great customer support is one of the most important characteristics of an Airbnb property management company. To ensure that your guests have an amazing experience at your vacation rental, you need to make sure your property manager has effective and prompt communication.
If your guests do not get their questions answered, they will be more likely to be unsatisfied and leave negative reviews.
Instead, you should hire a company that responds almost immediately to guest messages. Many companies will even use tools to automate this process to ensure that your guests feel heard and important!
Make sure you ask your company about their response rate and response time before you hire them.
Find a Local Company
It is also important that you find a local Airbnb property management company. While this isn’t necessary, having a local company can provide you with a lot of peace of mind!
For example, if your tenants have some type of emergency, having a local property management company would ensure that it is taken care of as quickly as possible. You would never have to be on call for your tenants and you could feel confident that they would be taken care of!
A local company may also provide all the services themselves, like cleaning and maintenance, rather than subcontracting these services.
While reviews are a great way to learn more about a company, getting word-of-mouth recommendations is even better when possible!
If you know of any local friends or family members that have an Airbnb rental property, they may work with a property manager that they really like! In these cases, they can provide you with a recommendation.
This will also allow you to ask them questions about the quality of services that the company provides. Word-of-mouth recommendations will always provide you with more information, so recommendations are a great way to find a reliable company to work with.
Ask About Pricing
Price is another important factor to consider when you are hiring a property management company. While you don’t necessarily want to choose a company solely for its low prices, it is important that you find one that fits your budget.
Many property management companies will provide you with a free pricing estimate so you can have an accurate idea of how much it will cost.
Make sure you compare both the value and the pricing offered by each company. This way, you will get the best services at the best price!
Knowledge of Local Market
Because the short-term rental industry is always changing, it is important that your property manager has extensive knowledge about the local real estate market! This will increase the chance that your business is successful against your competition.
When your property management company is knowledgeable about the local market, they will stay on top of the changing laws, regulations, and taxes associated with running a vacation rental property.
It will also help them price your property more effectively. They will be able to compare your rental property to other similar properties in the area to see how much you should charge.
Finally, they can help you gain more bookings by proving things like local recommendations and promotional strategies for each of your potential tenants!
Ask About Current Management Portfolio
Finally, you should ask your property management company for more information about their current management portfolio. This will help you confirm that the company has experience working with short-term rentals.
If they don’t have any current clients, this can be a potential red flag. While it may simply mean that they are a newer company with less experience, it may also be a sign that they have lost all of their clients.
Still, you don’t want to hire a company that has too many clients, as this may make your Airbnb property a lower priority for their company.
If you are looking for a reliable and experienced Airbnb property manager, Emperor Management can help!
Looking for an Airbnb Property Management Company?
When you own an Airbnb property, it can be a full-time job to take care of it on your own. While you can hire an Airbnb property management company to help, it is important that you carefully select the company to work with. By following each of these tips, you can hire the best property management company!
Do you want to learn more about Airbnb property management? We can help! Our website features expert articles on real estate, travel, and more.
Check out our blogs for more tips about real estate investments!
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