My husband and I have a house on airbnb. We are traveling around the country with our horses.
The income from airbnb helps coverage our mortgage and utilities, but not much else. We are basically in the red as we still are out of pocket for the gardener, repairs, linens, pay for the co-host, etc. We are on our second property manager/co-host. Both of our co-hosts have burned out.
We average 3-4 guest turnovers a month and we know that's a lot of work. Because we are remote, we really need someone we can trust who will be our eyes and ears to take care of the property and make sure it is in good condition for any guests. I have been talking with Hostwell, which is a full-service management firm. They would basically run everything 100%, but their fees would probably put us further in the red. I don't see them raising the nightly fees enough in order to cover their own commission.
The plus side would be I would be surrendering complete control, but I also see that as a minus. I also am looking at individuals who live in my neighborhood who are interested in co-hosting. I am also concerned that Hostwell is basically going to operate almost entirely remotely, relying on their housecleaners to tell them of any damages or needed repairs.
I would be interested in other people's experiences on how they selected a co-host and what lessons learned they can share.
