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The Best Airbnb Property Management Companies
Airbnb and short-term rentals are becoming more and more common in some of the most-visited vacation destinations. As a result, there is an increased demand for vacation rental and Airbnb property managers, as many homeowners look to maximize their long-term profits and leave the responsibilities that come with managing a property in the hands of professionals. The benefits of using a property management service are plentiful, with many offering 24/7 contact, guest meet-and-greets, property upkeep, and cleaning services.
We’ve taken a look at the top Airbnb property management services across the most popular vacation rental markets in the US, Canada, and Europe to give you a handy checklist to negotiate the perfect property manager contract.
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The Best Airbnb Property Management Services In The USA
ManorShare is an Airbnb and property management service that operates in the Phoenix area. Phoenix is a popular area to invest in property due to it being one of the fastest-growing cities in the US. Much of the area is also quite affordable when compared to its neighbor California. Manorshare offers services such as listing management and optimization, 24/7 communication, cleaning services, and professional photo services.
San Francisco is a major Airbnb and vacation rental hub in California. Over the past few years, San Francisco has faced various changes to its short-term rental laws, and many hosts like to leave their property in the hands of vacation rental property management services who know what they’re doing and comply with the strict, new laws.
One of the most-used property management companies in San Francisco is KeyBee, with its popular slogan ‘be a host, not a hostage’. The idea is that homeowners have full flexibility and transparency to manage their property, but can also relax knowing their property is in the hands of professionals. KeyBee will manage online reservations, arrange meet-and-greets with visitors, and do all the check-ins and check-outs. KeyBee claims to have the most advanced pricing algorithms on the market that have the potential to increase a homeowner’s income by 20%.
The San Diego market is arguably San Francisco’s biggest competitor for vacation rentals in California. One of the top property management services in San Diego is AirConcierge, which also offers full-service property management. AirConcierge says that their property management service, which optimizes listings and pricing, helps generate 10%- 40% more revenue than a homeowner-managed home.
COBnB operates in Denver and is one of the top property management services in the state. It’s an investor-focused short-term listing management company centralizing on maximizing profit from Airbnb rentals. Services include 24/7 guest communication, turn-over service, linen service, and price optimization.
Clean Key Host offers three different types of packages for hosts. From a more basic service, which checks-in guests and sends relevant information to visitors, up to a full-service offering, which includes cleaning, laundry, photo service, and guest screenings.
Easy Air Rentals concentrates on property management in South Florida. It specializes in luxury homes and offers booking services, cleaning services, and competitive pricing models.
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While there are plenty of Airbnb and vacation rental property managers that operate in specific states, there are also a variety of highly popular property management companies that operate country-wide.
Vacasa is one of the most well-known and operates across 17 states, and also has a presence in Europe and Central America. In total, Vacasa manages over 14,000 properties around the world. Using Vacasa’s pricing service and technology is said to increase homeowners’ revenue by 21% in the first year.
Evolve is also a popular property manager that operates throughout the US. It offers services including the creation of enticing listings and fast-inquiry response. There are over 10,000 homeowners using the service to date.
The Best Airbnb Property Management Services In Canada
Airbnb and short-term rentals are also becoming much more popular accommodation choices in some of the most-visited destinations in Canada. As a result, in Canada, there is also an increased demand for vacation rental and Airbnb property managers, as many homeowners want to leave their property in the hands of professionals and maximize revenue.
An Airbnb or property management service comes with plenty of benefits, with companies offering 24/7 contact with guests, key exchanges, property upkeep, cleaning services, photography services, and more. We’ve taken a look at the top Airbnb and property management services across Canada, from Toronto to Whistler.
Luckey is the most popular Airbnb management service in Toronto. The company takes care of everything for homeowners from start-to-finish, giving hosts a laissez-faire experience. Services include professional cleaning before guests arrive, verification of the property’s overall condition, managing arrivals and departures, and 24/7 guest support. Luckey also creates Airbnb listings and has an easy-to-use mobile application to let homeowners manage their property availability.
Luckey is also the most popular Airbnb management service in Quebec. The company takes a 20% share of the generated revenue, but do have a clear pricing strategy.
Monsieur Concierge claims they’ll even ‘water your plants and look after your goldfish’ — so it’s no wonder it’s one of the most popular property management services in Montreal and the country. The city is a busy vacation rental destination in Canada, with thousands of short-term rentals on the market. Alongside looking after plants and goldfish, Monsieur Concierge’s services include check-in, a tour of the property, housekeeping, linen service, and a departure check where the property’s overall final condition is verified.
Vancouver and Whistler
HeartHomes is an Airbnb and short-term-rental management service that operates in the Vancouver and Whistler area. The company specializes in the marketing and management of high-end vacation rentals and Airbnbs. HeartHomes has a team of interior design specialists on-hand to help present homes in a way that maximizes revenue. Other services include professional photographs and authorizing that all short-term rentals are licensed and meet all the municipal legal requirements — which is a service that can save homeowners from having to pay huge potential fines for violation of short-term rental laws.
Breathebnb is a short-term rental property management company operating in Ottawa as well as in Val-des-Monts, Kingston, Gananoque, Prince Edward County, and the Muskokas. The company offers to list homeowners’ property on all provider platforms — not just Airbnb and Booking.com (as some companies do). Other services include managing hosts’ calendars, key exchanges with guests, cleaning services, and emergency repairs.
HostOften is the top property management company in Halifax, Nova Scotia. The company offers a free consultation, a dynamic pricing system, and a turn-around service with the possibility of same-day and back-to-back bookings — meaning homeowners are more likely to increase their occupancy rates. HostOften also handles guest communications, marketing, 24-hour check-in, cleaning, and linen service.
The Best Airbnb Property Management Services In Europe
Airbnb and vacation rentals are becoming more and more popular in Europe, meaning that there is an increased demand for property managers. Many homeowners want to leave their vacation rental in the hands of experienced property managers in order to maximize long-term profits and feel secure that their property will be looked after.
From Airbnb property management services in the French Riviera, through to short-term rental property managers in Spain’s Costa del Sol, here’s a guide to the best Airbnb and vacation rental property managers in Europe.
BnbManager steals the spotlight in the Netherlands, with over one thousand short-term rentals managed mainly in Amsterdam. With an easy-to-use interface, homeowners can immediately use the site’s calculator to discover how much they can earn with BnbManager. The company is the market leader in the Netherlands and offers homeowners a 24/7 contact service (for the homeowner and their neighbors), guest screening and inspections, check-in service, and cleaning.
Vacation rentals in Italy are more popular than ever as many guests want to experience the Italian lifestyle and cook at their very own ‘home away from home’ using local ingredients. Italy is also one of the more expensive countries to go on vacation in Europe, contributing to the boom in the country’s vacation rental industry as vacationers look to forgo hotels and save money.
Halldis is one of the most popular Airbnb and vacation rental property managers in Italy, with around 1,850 properties spread across Italy, alongside a few properties in France and Belgium. The company’s most popular vacation rental destinations are in Milan, Rome, Florence, and Naples.
Pass the Keys is one of the most popular Airbnb and short-term property management companies in London. The company lists properties on Airbnb, so homeowners don’t have to. As with many of the top property management companies, there’s also an easy-to-use calculator to estimate what homeowners can earn by leaving their property in the company’s hands. Pass the Keys provides homeowners with a handy dashboard that tracks rental revenues, bookings, and reviews.
Spain is one of the destinations with the most holiday homes in Europe — and many property owners look to make extra money when not using their properties. As a result, the property management business in Spain is booming. The south of Spain is home to some of the most vacation rentals and Airbnbs in the country and property management tends to be more localized toward individual towns in the south.
Further north, Barcelona-based Friendly Rentals focuses on short and mid-term rentals. Started in 2003, Friendly Rentals has over 1,200 apartments in over 14 European cities, but they have particularly good coverage in Spain. They have a team of over 60 employees who speak more than 7 languages between them, and they guarantee a friendly and personalized service to guests 24 hours a day and 7 days a week. Users can be sure that if their guests have any issues they will be resolved quickly, and hosts can get those 5-star reviews.
You Are Welcome Berlin provides a full Airbnb management service in Berlin. They take care of listings, create descriptions, take photos of the property, and manage pricing.
Smartbnb uses a pricing model based on daily Airbnb monitoring to optimize the performance of properties. The company says it answers requests from Airbnb guests 24/7 and in under 60 minutes, making it a favorite choice for homeowners around the country.
Bnblord is an Airbnb property management service with clients all across France including locations in the Alps, Antibes, the French Riviera, Nice, and Paris. It offers services such as personal meet-and-greets, inventory checks, and ad placement. It also has an income estimate where property owners can discover what they can earn by using the service. Bnblord is owned by GuestReady, who also provide property management services in a variety of locations outside of France.
Prague is a popular Airbnb and short-term rental destination, with many property management companies competing for business. A favorite is AirSorted. They offer a full-service Airbnb and short-term rental service, including guest communications, 24-hour check-in, cleanings, linens, plus pricing analysts who balance nightly rates and occupancy to help both hosts and the company make more money.
Copenhagen is Denmark’s primary hot-spot for Airbnb rentals, with many under the care of HostMinded. They are one of the most used property management services in Copenhagen and the rest of Denmark. The company comes with a guest meet-and-greets, vetting of guests, and the chance to maximize revenue through price experts who analyze and leverage real-time data.
A Checklist For The Perfect Property Manager Contract
The resources available to property managers allow them to handle all aspects of rental properties: everything from guest bookings to payment and rent collection. When you partner with a reputable property manager, you’ll be able to sit back, relax, and reap (most of) the rewards of renting out your property with none of the hassles.
Deciding on who will manage the property you’ve invested so much time and money into is not a decision to take lightly. There’s nothing worse than hiring a property manager and handing over control, only to discover that the terms and conditions set by the company don’t meet your expectations. So, to ensure you make the right choice, here’s the checklist for the perfect property manager contract.
Always Read a Property Management Contract Thoroughly
Before signing anything, you should always read the specifics of your property manager’s contract. Not only that, it is important to actually understand what you’re reading. If you don’t, feel free to ask questions. And if you don’t completely agree with something, ask if the terms are negotiable and if compromises can be made before considering another company.
The most common mistake for a property owner about to hire a property manager is treating the contract as a formality. You’re not agreeing to an iTunes contract here. This is serious stuff, and it should be treated as such. The contract agreement includes what is provided and what’s not, so it must be taken seriously. The specific terms of this agreement could determine the overall success of your rental property.
Must-Haves for Your Property Management Contract
Before reading the official contract, it is crucial to understand the essentials of all rental agreements between the property owner and management company. For example, one essential of any management contract is the inclusion of specific responsibilities of the property owner.
In other words, what is the property management company responsible for, and what remains in the hands of the owner? Here are a few more essential aspects of any solid property manager’s contract:
- Complete list of services and fees
- Liability terms and conditions
- The specific duration of the contract
- A clear termination clause
Services and Fees
Every property management agreement should start with a comprehensive list of the services provided as well as the fees associated with those services. This is important for both owners and management companies in order for both parties to understand their roles in managing the property.
Think long and hard about the services you’re looking for. This depends on a few things, like whether this property is for reliable long-term tenants or successful short-term rentals. Many property managers will listen to your specific property-related goals and help you develop a plan based on them.
Most property managers will provide a list of the specific services they provide and a fixed management fee, usually in the form of a percentage. If there is a service that you’d like included, you can typically add it to your contract for an additional fee (either a fixed fee or an increase in the percentage).
Most of the problems that arise between property owners and managers have to do with an unclear ‘Services and Fees’ section. These issues can easily be avoided, though, as long as both parties involved understand what is expected of them.
Responsibilities of the Property Owner
In addition to the services provided by the property management company, there should also be a section designated as ‘Responsibilities of the Property Owner’ within your contract. This gives you a clear picture of your own duties, like whether you are in charge of collecting rent or finding long-term tenants. When you sign the contract, you are agreeing to perform these duties.
Nowadays you won’t find a property manager’s contract without a section on liability insurance, also called the hold harmless clause. This section is meant to protect the property manager and not hold them liable for property damages (unless of course negligence is involved).
Property owners don’t necessarily love the inclusion of the liability clause, but it makes sense for property managers to have one. It doesn’t matter if you rent out your property on VRBO, Airbnb, or you have long-term tenants, there is always a risk of property damage. Even if your rental property caters to seniors who are quiet and respectful, things happen. For this reason, property managers will always try to protect themselves.
Reasonable Care Clause
As a property owner, there is a way to protect yourself within the liability section of a contract. A ‘Reasonable Care Clause’ states that a property manager must take “reasonable care” when hiring a third-party. In other words, if damage occurs because your manager did not take the proper measures in hiring a repairman or contractor, the manager will be held accountable.
Another essential aspect of any contract is understanding the amount of time you’ll be bound to the property manager. Many property managers require you to commit for an entire year unless the contract terms are broken by the property manager. You might be able to participate in a trial run before committing to a full year, but this is not common.
Just because you have a “contract duration” does not mean you are 100% bound to a property manager no matter what. Every solid property manager’s contract will include a termination clause, also called a cancellation clause. This basically states that both the property owner and manager have the right to terminate a property management contract in certain events.
For example, if the manager fails to perform all of the services listed in the contract, you’ll most likely be able to terminate the service altogether. In most cases, though, you must give between 30 days and 90 days of notice before termination is completed. If you can, try to find a management company that allows you to end your contract without penalties or fees.
As long as you follow this checklist before signing a contract, you should have minimal issues with fostering a conducive partnership between host and property manager.