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If you’re an Airbnb host interested in finding a property manager, what 3 things should you look for in a property manager? Watch this video to find out!
Normally, I talk about how you can get started managing other people’s properties on Airbnb. Today I want to look at the other perspective and address the people on this channel who own a property they have listed on Airbnb, and how a property owner can select the right property manager to manage your listing on Airbnb. And if you’re a property manager, or are interested in becoming one, this video will provide you insight on what property owners are looking for in a manager and how you can fit those needs. There are some links to some free trainings below that will show you how to manage properties on Airbnb and earn a full time income doing it.
The first thing I recommend you look for in a property manager is that they are specific and they have a niche. That means they don’t want to work with every single property owner, they aren’t trying to appeal to everyone at once. If there’s a property manager that is managing properties for luxury homes, homes in the mountains, homes in the city, two bedroom condos, vacation properties, etc, then more often than not you’re going to find that they’re very disorganized and aren’t going to be able to give the necessary attention to any one group of property owners. Speaking from experience, it would be a nightmare to run that type of business and your property is going to drastically underperform with a manager like that. Meanwhile, a property manager that has a specific niche, or type of property or owner that they work with, that means that they’re going to be able to master that specific space in the industry and have your property performing a lot better and have fewer headaches in the long one.
The second thing that’s essential in a property manager is to find someone that knows their numbers. If you have a property manager who is just guessing at how much your property is going to earn, that means they are operating your business based on a general idea of occupancy rates or pricing. But if you want to maximize the revenue on your property, you need to work with a property manager who knows their numbers and who can give you data driven pricing. That’s why in our training below, we focus heavily on showing people an easy system you can use to implement data driven pricing. If you neglect using data to dictate your pricing, then your property is going to underperform and that leads to a really big loss of revenue in the longterm.
The third most important thing to look for in a property manager is to find someone who genuinely cares about adding value to you and your property. For example, they’re interested in finding out what pain points you are specifically experiencing and offering ways to solve your specific problems. If you’re working with someone who is just offering cookie cutter service without trying to understand what you need help with, then you aren’t going to actually get the solutions to the problems you’re experiencing. So you’re going to want to look for someone who is asking you questions and finding out about your needs. Otherwise, your property is going to receive little individual attention longterm and, again, is going to underperform.
If you find a property manager that checks all those boxes, then it’s a no brainer to get them on board and to start working with them. If they do those things, then a past track record or a wealth of experience isn’t going to be as important. Because if they have those three things down, then that’s going to go a lot further than anything else.
If you’re interested in learning how to manage properties on Airbnb and how to make sure that you as a property manager can fit this criteria, then I recommend checking out the free training linked below with a step by step walkthrough of how you can avoid common mistakes property managers make when they’re starting out.
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