Winner, Winner, Chicken Dinner!
I belong to several Airbnb Host Facebook pages. What a unique mix of people---from all over the world! Believe me, their reactions and comments really...really run the gamut of emotions and attitudes.
Most have plunged into an up-and-coming market, bravely opening their homes for whosoever will come and are tickled pink with the process. They are concerned with the details that make their guests happy campers and are having a grand old time.
Others, I'd have to say, a growing number, are in the middle of a big, "What the heck have I gotten myself into?" Rankings? Pricing? Amenities? They may even be a bit brokenhearted because the property has been badly used or people have tried to take advantage of them. What started as a fun project has become a hassle.
It has gotten harder to be a host. In the last several years things have changed drastically in the short term rental arena. Used to be there weren't many rentals and the guests were happy with something simple. Can you say air mattress? Now you have to think about thread count, amenities, staging, guest book, photography...the list goes on. For many of those who just wanted some extra, side income, hosting has become a burden. Being successful is no longer an easy hobby.
This is why one of the categories of clients we love are people already hosting. In other words, they have a short term rental that they oversee...and they are TIRED of it all. Let us take on the oversight of your property! For us, this is not only our full time jobs...it is our passion. I am a licensed real estate agent and property manager that is laser focused on the short term market. And I have a team that stays current on short term market trends, what attracts the best guests, how to properly care for those guests, and pitfalls to avoid. We know how to present each property in its best light.
For example, here's just one factor: we know how to balance between occupancy and price. Every time I hear a host boasting about having their property being booked solid a month out, I cringe. This is NOT a good thing. Why? Let's do some math. Say you have a home priced at $100 a night and you have the entire month rented at full occupancy. (Most likely potential guests are looking at your pricing thinking, "Such a deal, I will jump on it!") Now, compare that to a home that is only booked at 50 percent occupancy--at $200 a night. Same bottom line financially, but which is better? The second option! You home is realizing half the wear-and-tear, and you still have half the days available. Winner Winner Chicken Dinner!
When pricing, we take into account area prices for similar properties, local events, tourism numbers, and more, in order to charge the best rates for the best performance day-by-day. We can even tell, by the percentage of bookings a month out, two months out and so on, if we are right in the sweet spot pricing-wise. This is so effective that partnering with us shouldn't mean a drop in revenue for the now relieved hosts, even with our management fee it is very likely our client will enjoy a bump up in revenue.
Once we take on a property, we take on all aspects of its oversight. That means that there is only one thing that our client is going to have to figure out once they start working with us...
how to use all the extra time they've got. Cool, eh?