Are you thinking it’s time to hand over the management of your short-term rental to the professionals? Perhaps you are considering an Airbnb property investment and are wondering who will manage it for you, or maybe you have already been hosting for a while and have found human interaction is not for you.
Short-term rental property management services allow you to earn hosting revenues from your Airbnb or vacation rental property without having to deal with the day-to-day management of the property.
The benefits of using a vacation rental property manager are numerous, with many offering 24/7 availability to both property owners and guests, cleaning, property maintenance, and the promise of keeping your calendar full of bookings. Employing the right property manager can lead to a higher average occupancy rate and higher average nightly prices for your Airbnb.
|Average Daily Rates (Average Price Per Night) for managed listings (by a property manager) vs. unmanaged listings for 2019-2020. Managed listings in the United States had a 16% higher ADR on average during this time period.|
However, all of this comes at a cost. Airbnb and vacation rental property managers charge sometimes substantial fees for their services, with managers often charging anything between 20-50% of your hosting revenues.
So is it worth it? Or are you better off managing the property yourself, or perhaps having a friend do it? With the wide variety of vacation rental property management software available to hosts, even when on a budget, the amount of time required to be a successful host is falling. With that in mind, can short-term rental property managers be worth the fee?
At AllTheRooms we think the answer is, of course, that it depends. If you find the right property management company, you probably won’t regret it. But what does the “right” short-term rental property management company look like?
We’ve looked for the best Airbnb property management companies in the top U.S. states with the most active vacation rentals. If you are looking for a property manager in a state that isn’t listed here, please get in touch with us and we’ll add your state here.
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.
Rabbu is a unique investor-oriented full-service short-term rental property manager. While they are based in Charlotte and Miami, they are growing rapidly throughout the Southeast and the rest of the U.S.
Rabbu’s platform maximizes your return by creating short, medium, and long-term listings for your property, and then filling your property with the highest yielding renter.
For example, in a highly seasonal market your property might be rented short-term on Airbnb during the peak season, before locking in a longer-term tenant during the low season to optimize your property’s rental income.
They will manage all the daily operations of your property, including sending your tenants personalized automated messages, coordinating cleanings and maintenance, and collecting payments, deposits, and taxes.
Rabbu also monitors your property 24/7, which means they can grant and revoke entry to tenants, monitor noise levels, turn off smart home devices when the property is empty, and use virtual check-ins with ID and facial recognition. You can easily monitor your property portfolio with their app, which gives you access to monthly financial statements and property performance analytics.
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.
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.
Belo: Airbnb Property Management – Owned by former Airbnb employee, Daniel Rusteen, this full-service property management company specializes in Airbnb. Though based in California, his system allow them to manage any listing worldwide. Belo is a boutique firm only managing up to five Airbnb listings at one time. Daniel’s focus is on automating all aspects of the process while increasing the guest experience. All of Belo’s properties appear on the first page of the Airbnb search.
KeyBee – 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%.
AirConcierge – 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.
Guestable is a short-term rental property management company in Los Angeles which promises to optimize every aspect of the rental process from property optimizations, listing marketing, and price optimization.
Guesthop covers a large number of areas in California, including the Bay Area, Marin County, Oakland, Berkeley, Alameda, San Jose, Palo Alto, and various other locations in the state. They promise to increase host revenues by 40% vs. an un-managed listing.
cleankeyhost 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, vacation rental photography service, and guest screenings.
Cityami – Cityami have offices in New York and specialize in everything short-term rental related. In addition to property management services they can also assist investors in finding short-term rental investment properties. They offer 24/7 guest care.
HostStarter offers full service property management, cleaning/turnover and furniture rental services in five markets in Texas – Dallas, Forth Worth, Arlington, Irving, and Plano.
Additionally, HostStarter matches buyers and sellers of vacation rental properties via their Airbnb property sourcing service, which helps potential investors find investment properties, and their Airbnb listing service, which helps sellers list and sell Airbnb/Vrbo properties.
Square House provides Airbnb listing, hosting, and marketing support, as well as Airbnb concierge services. They operate in the Dallas/Fort Worth area, as well as several other parts of Texas, including Arlington.
Goldnest is based in Dallas, and provides Airbnb property management services to a number of locations in Texas. Goldnest offer end-to-end vacation rental investment services, which means they’ll help you find an investment property, manage the purchase process, and will help design and furnish the property before they start marketing it on Airbnb and other platforms.
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.
Skye Management – Atlanta-focused Skye Management offers to handle every aspect of the hosting journey, from Airbnb and Vrbo listing creation, through to guest services and cleaning and property turnover.
Kleenerly offer Airbnb property management in Atlanta, as well as other locations outside of Georgia. They rely on their strong background in the hospitality industry to manage your property on Airbnb and provide the best experience for your guests.
BroadConnection manages short-term rentals in the Greater Charlotte area, helping owners turn their investment into a profitable source of income. They offer a free assessment to see how much your property can earn.
Black Bear Rentals are a full service property manager serving Asheville, Black Mountain, Candler, Weaverville and other nearby areas. They currently manage long-term rentals, short-term rentals, vacation properties, Airbnbs, and also provide caretaking services.
vacayAZ provides vacation rental management services for Scottsdale. The company are industry experts and have an in-house cleaning team and personal concierge service, and have a strong focus on guest satisfaction as the key to growth for homeowners.
Better Vacations offers Airbnb property management services in Scottsdale, as well as other out-of-state locations. The company is made up of industry professionals and provide 24/7 management of your property, from online booking to on-the-ground maintenance.
One Fine BnB is an Airbnb property management which offers an optimized vacation rental property management process in Phoenix. Their team will optimize every aspect of your property – marketing, pricing, service, cleaning, reporting and more.
AIRMGR provides Airbnb property management in Phoenix. They take owner relationships very seriously and have a focus on working around the clock to get your property more bookings at better prices by managing every part of the process – from reservation, to check in, to cleaning/turnover.
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.
Lifty Life provides Airbnb property management services across a number of top vacation rental markets in British Columbia and Alberta. Their team is passionate about providing property owners carefree vacation rental management and outstanding supplementary income. Lifty Life offers 24/7 guest service, professional photography for your property, cleaning and restocking services, dynamic pricing optimization, and they will even develop and optimize your listing content to maximize your listing’s visibility and conversions! They offer two pricing tiers: 25% for full service property management, and 35% for the ‘white glove’ option which includes a linen share program and a complimentary smart lock.
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.
Host Happy is a short-term rental management company in Victoria, British Columbia that offers a range of services for property owners. Their offering ranges from consulting on the design and layout of your vacation rental property, to ensuring your property has the correct short-term rental and business licensing, and even professional vacation rental photography. They also offer the standard property management services of guest communication, cleaning, maintenance and ensuring your property’s calendar is full with bookings. Host Happy’s team emphasize using their interior design expertise to help your property really stand out in order to get your listing generating revenues.
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.
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.
Nestify is one of the most trusted property management companies operating across UK & Ireland, France and Spain. They specialize in end-to-end property management for short, medium and corporate lets. The company is made up of industry professionals, and through the use of technology, they optimize pricing for landlords to increase rental yields by up to 40%
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 homeow
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.
Friendly Rentals – 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.
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.
AirSorted – 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.
Flat Inn is a Russian short-term rental property management company, with a focus on the Moscow and other major tourist destinations. They currently manage over 20 properties in Moscow, and are growing fast. They cater to both international and domestic tourists and business travelers alike, and offer mid-term accommodations too.
Flat Inn offers property owners a wide range of benefits, including a professional photo session for your property, five-star customer service for guests (with bilingual 24/7 support), daily price optimization, and they will optimize and promote your property listing on all major booking platforms. More information on their different pricing options can be found here.
One of Flat Inn’s biggest strengths is their use of technology – from a dedicated booking app and self check-in/check-out for guests, to automation of cleaning requests and billing. Flat Inn also provides property owners a sleek proprietary dashboard where property owners can track the performance of their managed properties in real time and access detailed monthly reporting.
Note: Flat Inn’s site is currently in Russian, but you can translate it to English within your browser. Their bilingual site will be launched later this year.
Hostminded – 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 Airbnb statistics.
If you’ve decided that you don’t want to handle your own Airbnb management and feel ready to hire a property manager for your short-term rental, the next step is securing the perfect property management 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.
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.
It’s always a good idea when considering a property manager to ask them what kind of expectations they have for your property. What pricing strategy do they think will work best? What kind of occupancy rate and revenues do they think are attainable? Before asking this it’s a good idea to get an estimate of your Airbnb’s potential earnings so that can benchmark their response.
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:
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.
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.
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.