Hosting remotely?

[Nancy2404]

Hello,

I am new to hosting in general and we are looking into using my Father's house in New Mexico as a short term rental to help offset the cost of his care in a nursing home.  I don't live in the same state, but would like to take the lead on this idea.  I do have a sibling that lives nearby, but he is busy with Dad stuff and I don't want to add to his load.  He could help in a pinch though.

So, my question is do you hire a management company to deal with the day to day?  Can I 'hire' my brother as a Co:Host in case something needs to be tended to immediately?  What is a general cost of a Co:Host or Management Co.? 

If we choose to manage ourselves, how does cleaning work?  I would thinks someone would need to be available immediately after a guest leaves in case a new renter is coming in.  

Thanks in Advance, Nancy

[Ann72]

You need every base covered @Nancy2404 so I would recommend you start with one of Airbnb's free hosting classes.  https://www.airbnb.com/e/academy-us

[Lorna170]

@Nancy2404 

 As you are a remote host, and your brother is not available for daily monitoring of the property, you will probably be best off with a reputable management company.

Fees for a management company are usually 20-25% of the rental cost range.  That means that they will take their percentage of what the guest was charged to rent, inclusive of taxes and AirBnB fees.  Not 20-25% of what you earned as the host after paying the state and AirBnb.  This will drastically reduce what you will have as take home. 

Speak to an accountant so that you have sound advice on who is going to be taxed on the rental proceeds.  The accountant should also be able to advise you on what costs associated with the rental can be deducted.  Check with zoning to ensure that the property may be rented, and can it be rented as a short-term rental, or is there a minimum number of days (30).  A good management firm may also be able to answer these questions.