Local Management Company Taking Over Existing Listing

[Scott1598]

Hi All,

I have been successful hosting for the last three years, earned SuperHost and Guest Favorite.  I have done quite a bit of analysis and determined that the percentage charged by a highly respected boutique local company (also a SuperHost with extremely high ratings) would cost me less than my current expenses (primarily cleaning and maintenance) and offer more channels so could likely increase my overall revenue.

I just met with the property manager in person and plan to work with him and his team but had a question for those of you who may have partnered with a property manager after establishing your listing.

It's clearly best for us to keep the established listing in place since it has great reviews.  I'm trying to figure out how to keep the reviews I received to my account associated with me since I have done a lot of work and also in the case that I decide to take it back over once I have a bit more time in my personal life to manage the property on my own again.

Did you just set up the property manager as a co-host?  I'd like to be able to have the property manager integrate with their channel manager so they can communicate across channels and pricing could be uniform.  I'm not sure if that means they would have to leave guest reviews in my name or if their property management company name would provide the guest reviews.  I'm simply trying to have them manage the property while not impacting my personal hosting profile.  For example, in the future we may sell this place and buy a little larger place and I may want to personally host it again.  

Sincerely appreciate the thoughts and advice.

[Helen3]

Hi @Scott1598

I'm a cohost and host of nine years -absolutely you should keep your listing and add the property management company as your cohost.

the company you are using should really advise you on this . The channel manager integration may be an issue - what did they say

some unscrupulous management companies try and get you to put the property into their name. It has no advantage for you and every advantage for them

do make sure you take up recent references and that they issue you with a contract 

Id be highly surprised if it ends up being cheaper - what % are they charging for cohost - is that on your net or gross. What's their linen/cleaning fee? 

good luck 

[Scott1598]

Thank you @Helen3 !  

The property management company said they were fine with any arrangement and cohost was perfectly acceptable.  They also preferred to keep the listing - they were not trying to encourage me to start over.

The company just said they had not taken a listing over before so would come to me with a recommendation on how to integrate the channel manager into my existing listing if possible but they were fine being cohost on Airbnb and integrating with the other channels since I only have VRBO established and only a couple of reviews there.

I have discussed with references, and all seems solid. 

They charge 30% of the booked nightly rate to fully manage all aspects.  That 30% includes all STR fees, cleaning costs, guest use products (higher-end paper products, soaps, trash bags, detergents, coffee filters, etc.) and all maintenance labor.  Over my three years of managing the property the cleaning costs alone were more than 30% of my nightly rate 2 of the 3 years I have managed the property.  I pay more for each cleaning than I pass on to my guest.  This is a longer story and an agreement I am happy with since my cleaning company is the best and extremely reliable (I manage from out of state) but I don't feel justified in passing that whole cost on to my guest.  I manage this through encouraging longer stays so I incur the difference in cost less often and it is working out well.  All that to say, once I include maintenance labor, guest-used products and fees, the numbers make sense for me.  Plus, I do project more revenue as a result of more channels.

Thank you again and this makes me think that maybe asking them to be cohost on Airbnb and then use their channel manager on all non-Airbnb platforms in the name of their property management company since I don't have much built up there as of yet.

Thanks again for all thoughts!

[Helen3 · Accepted solution]

If you've checked out the listings they host and they have good ratings and reviews  and taken up references then their price sounds like a good deal . @Scott1598 

I can't see though  how they are making any money if the 30% covers STR fees at 15%, cleaning, laundry , supplies, cleaners and maintenance.

sounds like a bargain