Property manager fee/salary? How much do you pay someone to manage your airbnb property?

[Julian295]

hi there... a friend has a property and asked if I'd be interested in managing it as an airbnb...it's a luxury property and I'm guessing it'll be very time consuming,, but just not sure what to ask as far as compensation

thank you!

JP

[Stephanie2166]

Hi everyone, I am new to hosting and was wondering if a management company or co host is needed?

[Sarah977]

@Stephanie2166  Certainly not. I don't know what the percentage of listing are that are looked after by the hosts themselves, but it's a lot. And listings run by hands-on hosts tend to get better reviews. A co-host can be fine, but those big management companies tend to cut corners because they have taken on more listings than they can effectively manage, and they don't have a vested interest in any of it. 

It depends on whether you live close by and can handle everything yourself. You would for sure need a co-host if you don't live nearby.

[Laura3947]

Hello Sarah977 (and anybody else who happens to read my question) . I've been asked to replace the host of an apartment where most units are rented (I think 2 or 3 of them), in a populous, very famous, and expensive, city, for half a year (albeit not the most expensive part of it)

I would actually be living in one of the bedrooms in the property, and have access to a shared kitchen and bathroom. I would mostly be in charge of the cleaning and the laundry (which can be exhausting, depending on how often guests move in and out) . I would not be handling the keys (that's automatized)

She has offered me 10%, which, considering I'll be staying in the property, I have thought a bit low, but still fair, assuming I am also paid the totality of the cleaning fees. (she has not mentioned the cleaning fees, and I have not yet, either) . I am not sure what other responsibilities this would entail... what to do when, for instance, something gets broken (a pipe, a handle, a sink clogged etc.) 

If I have to do laundry every two days, I think it is on the low side... if I have to do it every week, I think it is alright... any thoughts? And do you have any suggestions whether (and how) we should draw a contract? Thanks very much, in advance, for any information.

[Cynthia981]

does anyone have a contract they use with property owners?

[Ashley1365]

I am also interested in a sample contract. 

[Kira335]

Did you get an example of a sample contract you’d be willing to share? 

[Euphoric1]

Hi Kira, I'm happy to share our management contract with you if you'd like. You'd just have to adapt it to your needs. Drop me an email to dean@euphoricleisure.com and I'll send it to you.

[Joey263]

i am currently looking at properties in Florida... i have someone who is willing to spend about 30-40k to renovate the property and that is there % of buying into the property.  i am responsible for the 20% down which is 110k... me and 4 friends are splitting the property down the middle... roughly 27k each which would =100% because my friend down in Florida is buying in with the reno he is doing we divided the house into 5 which would be 20% each... he is also taking the responsibility of managing the property... as a hole how can we figure out how much is a reasonable % for him is it from the gross amount?  he wont be doing any lawn maintenance or pool maintenance as we will hire a company for that. i don't think he will be doing any cleaning as we will hire a company for that also.. his job is to attend to the house and take care of any issues.. he is the point of contact.. he will be required to stock the house with whatever is needed. 

how can i figure out a good % this is my first house and i look todo multiple properties with him. i want to be fair to both sides 

@Mery172 

[Mery172]

Hi, 

I get 25% of the bookings minus cleaning.

I'm not in charge of any maintenance, but in charge of coordinating all things related with it, so Property management.

[Dean800]

Hi @Mery172,  so do you get 25% of the gross amount before Airbnb deducts their fee or the net amount after they’ve deducted their fee? How do you deal with cleaning? Is cleaning included in your fee or is that separate?

[Ari45162 · Accepted solution]

Anyone saying 25-40% for management fees should clarify what they are covering for that amount of take. Are you restocking supplies? Are you available 24/7? Managing cleanings? Covering bills? Covering the cost of repairs? These details matter. I am seeing a very nuanced conversation happen with broad assumptions. 

There are many costs in being a home owner: taxes, repairs/maintenance, upkeep, furniture, supplies, etc. At 25-40%, you are profiting, the owner is likely break even at best. Sure the owner is appreciating on the property, as they should. THEY FINANCED THE PROPERTY. Most property managers make 5-25% depending on the level of involvement, number of check ins, size of the property and number of properties managed. If you are just managing turnover and cleanings, you can not expect 30% at scale. 

In summary, there are definitely some greedy property managers posting on here. Please do not think 25-40% is the norm, when in fact they are likely sharing in managing costs and risks. 

[Dean800]

Yeah, I was going to say that 25%-40% seems unreasonable high. It my research, 20% has been at the top end of the range. We've been charging 10% on the gross amount for years but have come to realise that it's not sustainable so we'll be increasing it in the coming months. It seems that 15%-20% of the net amount (after platform fees like Airbnb fees are deducted) seems to be the norm.

[Solange266]

how much is reasonable for this kind of service. It excludes paying bills and dealing with taxes. 

Listing optimization, distribution, and marketing
• Dynamic daily pricing
• Guest communication and support
• Restocking and cleaning between guests
• Property inspections, maintenance, and repairs
• Access to online performance tracking and reporting
• Ability to block vacation rental calendar for personal use

• Getting properties guest-ready including design, furnishing, linen
• Cleaning and restocking rentals between stays
• Inspecting and maintaining properties
• Maintaining lawns
• Coordinating property repairs ( I have a lawn person and a repair guy)( we are frugal)

• Coordinating property repairs (supervision of repairs)

[Solange266]

If someone were to cover all of the bills, etc, they would be losing money at $25 percent. 

[Sudsrung0]

Here in Phuket I charge 25% to take care of a property if its a short term rental but for that we do everything the one villa we have the owner doesn't live here, we literally do everything as if it was our own.

Because of covid the villas we have there was no short term rentals we had to change tactic's and we rented them out long term for that we charge 10% the only extras are if any maintenance needs doing and we charge by the job, and at the end of the contracts no doubt jobs will need doing, Maybe we put them back on Airbnb,