Managing someone elses property

[Leanne1]

I have my own Airbnb listing that is very successful.  I  have been asked to manage a friends apartment.

Where I would do all communciation, meet and greet.  Manage the cleaners, arrange clean linen, purchase Tea, Coffee, soap etc.

 I would get paid a commission percentage of the tarif.  

What is the best way to do this, so it is seperate from my listing.

Hope some one can help me.

[Kelly601]

Hi Sharon - is the link you provided here still active? It is displayed as hidden. I am a new host looking for potential opportunities to manage other people's properties as well. Thanks! 

[Mary338]

Hello Lydia

Do u need to notify them? If u do everything then they can just check bookings regularly 

Or do they need to be there or something? 

[Paris6]

a shared google calendar 🙂 

[Lisa682]

 Hello Lydia – that is so awesome that you're managing so many! I really want to get into this, can I ask you how you found of the properties to manage?  I have been doing it for my rooms at my property and have been very successful. Thank you you for your time! 

[Celine50]

I have done some research and managing companies take between 10% and 20% of the listing revenues. (depending on how much service they provide). If you create the listing from scratch and manage it fully, I would think asking 20% is fair for the manager. 

[M-and-I0]

@Christie4

It depends on what the services provided are but if the owner is completely hands off and the manager basically just gets an empty unit to start with (they would even do things like furnishing the unit, setting up and billing all utilities and repairs/maintenance) then you should expect to pay at least 30%. Hosting an entire home listing is a lot of work and requires daily efforts. A great 1 bedroom listing with a great manager in my city can expect an avg. $3000-5000/month. If someone is getting 20%, that's only $600-1000/month. That's doesn't cover minimum wage for a job that's full time and on call 24/7. There's also a distinction between calculating from the revenues or profits and you'll need to consider that when coming to an agreement. 

[Juan331]

20-80 is more common. Sometimes you can see more than 20% (25-30) for full management of theproperty, including paying service bills, etc.

[Ashley437]

I am interested in knowning this as well

[Diane1134]

I am in this same situation. If I add a listing to my own, how can I keep the payments separate? I don't really want to have access to someone else's bank account. Thanks!

[Jean121]

I am also curious about this having been asked to manage someone's property. I am unclear as to how to make sure the finances are applied to the person who owns the property and not to my personal finances. One kind person answered your post saying to create another listing in your own account and attach that person's payout method. I am curious as to whether or not the earnings would be reported to the IRS under the owner's name? I do not want tax liability for someone else's earnings.

[Helen3]

@Jean121 Get them to set up a listing and add you as a co-host.

[Jean121]

Thanks Helen but Airbnb does not offer co hosting yet in my area,

[Jean121]

Helen, thank you. I looked again and saw it was only neighborhood co-hosting that is not in my area. You were very helpful

[James167]

@Jean121 If the host invites you to be a co-host for their listing, they would get all the rental amount into their allocated account. 

Only once they invite you to be a co-host for that particular listing and set it up so that you get a % of the rental would you have to report it as a taxable income.

For example, if it is set up as 90% host and 10% co-host and the amount is $1000 for the booking

Co-host would get $100 into their account, the remaining $900 would go to the host. 

If you set it up through paypal, you get the money instantly 24 hours after check-in 🙂

Regards 

James

Entrusted Neighbor

[M-and-I0]

@Jean121

You can choose your payout preferences to send all or a portion of revenues to a bank account. For example, if you're doing a 70/30 split, you would enter their bank account to be sent 70% of all revenues on that listing, and yours 30%. Taxes are based who's getting the money, so in the above case, 70% would be reported to the IRS as his earnings and 30% as yours.