Property management company, co-host or co-host team?

[Daniela1596]

Hi everyone.
I'm new here and after quite a lot reading and researching I still cannot find an answer to my question. I hope you can help me.
I have the opportunity to start managing few properties for short-term rentals (with the idea the properties to become more with time) and I'm not sure what will be the best way to do that. To list them under the name of a company (this way as far as I understood Airbnb's commission will be about 14-20%), to be a co-host for each of them (this way each owner should have an account, right?) or to make a co-host team and list all the properties under that team's name (and the owners to be like co-host so they can have an access to check how the reservations go)? What are the advantages and disadvantages for each of the options? If I want to have full control (like manage prices, contact with guests, list the property, manage all the income/outcome) what should I choose?
Thank you in advance.

[Ocean50]

Just do what millions hosts did before you, create an airbnb, go through an airbnb approval process (confim email, id, address), then start posting your listing and see how it works.

No-one would take you serious here if you haven't even completed the Airbnb confirmation yet.

[Daniela1596]

Hello, Ocean50, and thank you for your reply.
The thing is that I'm not sure if there are any differences for the approval process and for listing for each of the options. That's why I decided first to ask.
May be I should try to list all the properties under my account and add the owners as co-hosts so they can see how the reservations go. But if this does not work properly for me then I would be able to change the settings of my account in regards of the way a property is listed and managed, right?

[Paul1255]

@Daniela1596I hope you are well!

You are quite rightly correct to want to explore the options of listing before committing- when you're managing other peoples property rather than your own it's essential to have the facts.

If you list them all under your own account, then the listings and any reviews attached to them stay with your account- there is no way to transfer to the owner or another host.

I don't have time to fill you in now on the reasons for listing or not under your own name, or listing under the hosts account and then adding yourself as a co-host as there are problems/issues and benefits to all the options, but I will drop you out a message later today to shed some light for you. 

Paul 🙂

[Susan17]

@Paul1255 

Was just about to tag you in there P - you beat me to it! 🙂

@Daniela1596 

This man gives top advice! Will definitely put you on the right track :))

[Anna2417]

This topic sounds very interesting!

@Paul1255any chance you could share the information you offered to Daniela? 

[Louise782]

@Paul1255 Hi Paul, I would appreciate you sharing your response to this query with me too.  Thank you.  Happy weekend.  Louise

[Navreet2]

Hi! I am looking to co-host for hosts in my area who need someone to help them with the check in process and so on. Can you give me a message and give me some more information on how this works please? Thank you 😄

[Navreet2]

@Paul1255 Hi! Can you please give me more information on how the co-hosting works? I am looking to co-host for hosts in my area in need of someone to help them. Looking forward to connecting 😄

[Paul1255]

Hi @Navreet2  I hope you are doing well!

It's not easy getting yourself going as a co-host these days as it can be hard to find hosts who are in need of help.

There used to be a host/co-host matching service on the Airbnb platform but that was closed a couple of years ago now.

Hosts looking for help do occasionally post here on the Community Centre advertising for help- but technically doing so goes against the CC guidelines (as does advertising offering help) and since the 'local' city-specific chat rooms were closed, hosts are posting on a global basis so might see less point in doing so.

That said, I have met many great clients on the Community Centre 🙂

A good place to start is to connect with local Facebook groups in your area, as hosts will often look for help there, and they are more likely to be within your geographical reach- but also keep an eye out for posts here on the CC- you can always reply to a post or even direct message the poster to be able to connect.

If you want to chat further, drop me a direct message.

Best wishes 

Paul 🙂

[Kate1817]

Hi @Paul1255!

Do you mind sharing the same info with me please?

In a similar situation, but rather on a owner side, our property manager is leaving and all the listings were under her profile. Thinking whether I should list them now under my profile and have a co-host who'll run the business. 

Thank you!

Kate

[Helen3]

Oh dear I am sorry your property manager did that to you. You will now lose all your ratings and reviews. @Kate1817 

I really dislike the un-professionalism of co-hosts and property management companies like this who don't act in their client's best interests. They do this to build their own business profile, knowing if you decide not to work with them you will lose all the goodwill for your business as you can't transfer the ratings and reviews.

Set your listings up under your own profile and find a local established superhost who also acts a co-host. You can then add them as co-host to your listings if you want them to manage this aspect of running your business for you.

[Kate1817]

Thank you, @Helen3!

Well, she didn't do it in purpose. It's our friend and for both of us it was very first experience with airbnb. And now she can't continue due to some reasons.

I had a hope we could save the ratings, but what to do.

Thank you for the advice, I'll list my properties under my own profile. 

[Paul1255]

Hi @Kate1817  I hope you are well!

It really depends on the route of management you'll be going down as to how you proceed for the future.

If you're going to use a large scale property management company for management (if you have them in your area) then they will always list under their business profile- this is for logistics purposes, as they won't be able to manage hands-free if they operate as your co-host.

Large scale property management companies take payments directly from Airbnb when a guest stays at your property, take their fees off and then send you the remainder of the money- usually on a monthly basis- they will also send and request money from guests for damages/extra services, none of which they can do when operating as your co-host.

If you're planning to use a local, smaller scale company, or even an individual co-host then it's best to list your property on your own profile and then add them as a co-host-then you have control over the financials and you keep the reviews tied to the listing and maintain overall control in the event of your co-host leaving.

I run my co-hosting service as a true co-host, I don't list clients properties under my own profile and on a small scale this works just fine.

Send me a direct message if you need any more info 🙂

Paul

[Kate1817]

Hi @Paul1255!

Thank you for such a detailed answer. Appreciate it!

Good to know how it works in general. In my area it's only been couple of years since airbnb started and most people manage their properties themselves, no large companies yet here. We also own just three places, so the choice is obvious for me now.

Thanks again and have a good day, 

Kate