What are reasonable rates for co-hosts and property managers??? I’m a Superhost with a well established 3-year old listing. Two scenarios:
1)I want to travel and have someone else local be available to oversee that cleaning was done adequately, self check in keypad codes programmed, take out garbage, light yard maintenance and be available in case of the unforeseen. I’ll maintain my listing and online communication with guests. How do I calculate fair compensation for this?
2)I am establishing an Airbnb for a friend who is too busy to do it herself. I will stage the space, advise on necessary furnishings, photograph it, build the listing AND manage the Airbnb. I offered a 50/50 split for the first three months the listing is live, during this time I will also teach my friend how to use the platform herself. After three months, I give her her new Airbnb side hustle business, turnkey. Does this 50/50 90-day split seem reasonable?
@Tamara170 STR property management companies in the US seem to charge 20-45%. What is fair depends a lot on specific responsibilities and local market. My local co-host gets 30% of rent + 100% of cleaning fees. She manages cleaning and maintenance, including maintenance of hot tubs, and hauls trash and recycling. She is responsible for all local guest support, including emergencies; I maintain the websites and calendars. We both communicate with guests. In any such arrangement I'd recommend having a written agreement specifying exactly who is responsible for what.
@Tamara170 Unlike a lot of hosts who are new off-site hosts who start out from square one with a co-host or property manager, it sounds like you've been running your Airbnb yourself up to now. So you'd have a pretty good idea of how long all those tasks you'd want a co-host to handle take. I'm sure it would take them a little longer until they get familiar with the place and how you want things done, but you should be able to have some idea if what you propose as a percentage works out to them making a reasonable wage if you worked it out hourly.
There's been co-hosts post here who were really getting taken advantage of by the host/owners, doing all the work of running the place and only ending up making about $10/hr. or less, while being expected to be on call 24/7. As we all know, you get much better work and attitude from people who are being paid adequately, so start out at a decent rate, not too low and if they prove to be stellar at the job, leave yourself some wiggle room to up their pay for a job well-done if you feel it's warranted.
My onsite host gets 15% for:
- site visit after checkout, collect forms, leave gift bag for next party
- coordinate cleaners (text message)
- 24/7 availability for emergencies
- share guest interaction during stay
- be onsite for service calls (Eg. recently had new washer/dryer delivered)
- stock supplies
Averages an hour per booking.
I handle everything else: initial interaction, booking, setting lock codes, paying cleaners, taxes, repairs, service, filing forms with city, etc. We’ll do 20% when they take over all guest interactions.
I'm a host who is looking to hire a management company for a short term while I'm recovering. My question is are host passing these "management fees" cost along to guests? Or just taking the hit financially. Or rising their nightly rates to compensate for the cost? My prices are not that high to start so the 35% they are charging me is going to really eat at my income. Any input would be appreciated.