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

in
Beacon, NY
Level 1
19,251 Views

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

27 Replies

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

in
London, United Kingdom
Level 10

Hi @Julian295 I hope you are well!

 

Sounds like it could be a very interesting project.

 

You should really sit yourself down and work-out what you'd be happy to earn on an hourly basis for the time you'd give to being a co-host/property manager.

 

I work as a full-time co-host and property manager, and work with various hosts in different ways depending on their needs- which varies from a overall % of the owners earnings to a flat rate for certain services that aren't required all the time.

 

It's really up to you to work out what you would be happy to earn to ensure it's worthwhile for you.

 

Bear in mind that large Airbnb property management companies will charge a fee so low that a single person co-host couldn't compete- but low fees often translate into low service which translates into low guest review ratings, so make sure you deliver amazing results for every single guest stay and really earn what you're charging.

 

I would also take care in terms of working with friends- a good friend isn't always a good work partner 🙂

 

Best wishes with whatever you decide to do!

 

Paul.

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

in
Beacon, NY
Level 1

thanks a lot Paul,, all makes sense and I really appreciate your take on the subject..I didn't know that there  are airbnb property management companies that already exist..I'm curious.  Either way I know it's a full-time job, so we shall see what agreement we can come to.

 

Cheers,

Julian

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

in
London, United Kingdom
Level 10

@Julian295 there are plenty operating here in London, I think most of them have an international reach- like Hostmaker, AirSorted and so on.

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

in
York, PA
Level 2

What if you're an Airbnb Property owner in another country like the Dominican Republic.  What are the risk of having Airbnb property in another country?  What protection should I have in place to protect myself from unknown risk?

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

in
Lima, OH
Level 2

Can you send me a list of sorts on how you break down your percentage charged? Im being asked to cohost... but need to know what to ask for remuneration 

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

in
Oregon City, OR
Level 10

In my area a property management service charges 25-35%. My local co-host gets cleaning fees plus 30% of rent. She is the primary point of contact for guests and does all on-site support, including maintainance of two hot tubs. I maintain the websites and we share responsibility for electronic communication with guests.

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

in
Beacon, NY
Level 1

Thanks so much Lisa,, really appreciate the info.  It helps in my assessment of what to charge..it seems that being accessible and available at all times can alone be worth a lot of one's time.

 

Best wishes,

Julian

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

in
United States
Level 2

😲 So what’s left for the owner that pays mortgage, utility bills, property taxes, tourist certificate fees, a % of income earnings and Airbnb fees? 

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

in
Oregon City, OR
Level 10

@María304 I'm not sure if your question was for me, but the answer is 70% of rental income, plus equity in the property. I'm not sure what you mean by "a % of income earnings and Airbnb fees." Airbnb fees are deducted before the split and my payments to the co-host are tax-deductible business expenses. My previous manager charged 40%. My co-host works hard and she definitely earns her commission!

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

in
United States
Level 2

Yes, Lisa! The question was for you. I’m kind of surprised with those fees.  Pretty much what a litigator would charge for a case. I guess every country has different Laws and we pay so many taxes in Colombia plus the US, this fee scale it’s not feasible for us. 

I have to even get trained by The office of tourism in order to rent our apartment in Cartagena and I have to pay a percentage to the ministry of Turism on the earnings. On top of that, I have to pay income tax here on those very earnings. You see what I mean? I’m glad it works for you. Thank you for your clarification. 

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

in
Millrift, PA
Level 2

Hi, Lisa:  I am being asked to manage several properties and see that there is a need for it in my area.  The one company that does service the area is not doing really well based on the reviews that they are receiving in several listings.  My question is, does your manager accept the money, deduct their fee and turn over the balance to you or do you pay them their percentage after you have been paid?

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

in
Sayulita, Mexico
Level 10

@María304 Your mortgage and your property taxes have to do with your equity in the property, not with Airbnb hosting. So you expect to have someone else handle basically everything to do with your income property, and earn less than 30-40%? Sorry, but to me that's greedy.

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

in
United Kingdom
Level 1

Completely agree. Pleased that someone mentioned this.

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

in
Wilmington, NC
Level 2

I am managing and cleaning. I get the cleaning fee, ofcourse, but my admin/manager pay is only 100.00 a month. That seems pretty low? Please advise!

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