Deciding to hand over your Airbnb hosting duties to a property management company can be a smart move to save time and increase bookings.
It has its risks, of course.
You have a nice property, so you want someone you can trust.
Like most things in life, not all Airbnb (short-let) property management companies are created equal.
Here are some key factors to weigh when choosing the right service for you:
- Experience – Look for an established short-let property management company with a proven track record managing short-term Airbnb rentals similar to yours. Ask how long they’ve been in business and request client referrals you can contact.
- Services – Short-let property management companies offer different tiers of service, from basic listing management to fully hosted. Know what’s included so there are no surprises. Most offer 24/7 guest communication, cleaning, and key management.
- Contracts – Review the short-let property management agreement terms closely. Know the management fees, what’s covered, cancellation policies, and who is liable for damages. A one-year contract is typical.
- Location – Using a local company familiar with area regulations can avoid compliance issues. Make sure they can handle issues at your property quickly.
- Reviews – Check reviews on Google and Facebook. Many happy clients is a good sign. Beware of too-good-to-be true claims around occupancy rates.
Vetting short-let property management companies thoroughly on the front-end is time well spent.
The right partner is a safe pair of hands and can maximise your occupancy and income, while you sit back and collect passive income streams.
If you are looking for a partner to manage your short-let property in London, and would like to discuss becoming a valued client of Michael D’Rews, please get in touch with a friendly member of our team today.
