If you want to run a successful AIRBNB rental property, you’ll have to ensure 24/7 professional help and support. But it’s undoubtedly very stressful and time-consuming work. At times, you’ll feel like giving up your investment. Here, AIRBNB property management companies can help you out.
These AIRBNB companies manage the day-to-day activities and operations and reduce the stress from the AIRBNB investor. If you have a full-time job or simply just want to turn your AIRBNB rental property into a passive income, you should hire an AIRBNB property management company.
But there are several AIRBNB property management companies in the US. So, how do you know which one will be the best? Don’t worry, in this article, I’ll talk about how to select the best AIRBNB property management company.
4 Simple Tipson Selecting the Best AIRBNB Property Management Company
1. Check Certifications
While choosing the AIRBNB property management company, you’ll have to check the certifications of the company. Some of these certifications are- Certified Residential Management Company and Master Property Manager. These certificates show that the AIRBNB property management company has the ability to deal with your rental property because, to get these certificates, companies will have to pass tough exams and complete various training programs.
2. Ask about the Local AIRBNB Market
Running a successful AIRBNB rental property requires effective strategies and a marketing plan. If the AIRBNB property management company doesn’t know about the local AIRBNB market, they won’t be able to select the right rental for your property. Besides, to attract new clients, the AIRBNB property management company must know about the local attractions and amenities to market the property.That’s why before selecting the AIRBNB property management company, test their local AIRBNB market knowledge.
3. AIRBNB Property Management Fees
There are two ways you can pay the AIRBNB property management company- monthly or on commission. Usually, with monthly fees, you’ll have to pay a certain amount to the AIRBNB property management company, no matter whether you have rentals or not. On the other hand, when you choose to pay with the commission, you’ll have to pay about 30 to 50 percentage of the total revenue to the AIRBNB property management.
Again, while signing the agreement with the AIRBNB property management company, ask whether you can switch between the two payment methods when needed. There’ll be times when you may need to switch from one payment to another to keep your business profitable. That’s why it’s best if you confirm with them beforehand. If the AIRBNB property management company doesn’t allow this, you should rethink signing the deal.
4. Finally, Check Reviews of the Company
Before signing the deal with the AIRBNB property management company, you’ll have to make sure that you check the company’s reviews. Nowadays, almost every AIRBNB property management company has a website or social media page. You can visit there and read the reviews.
If you find out that people are giving a lot of negative feedback about the company, it’s a red flag. The company must be doing something wrong for this to happen. In this case, you’ll have to rethink signing the deal. Apart from social media pages and websites, you can use Google Reviews, Yelp, or Manta to know the exact reviews of the previous users.0