Any property, especially on Airbnb, needs some type of management; you can’t just let your property sit with guests coming in and out, providing no other supervision.
When it comes to Airbnb properties, there are two methods you may use to manage your Airbnb; do it yourself or hire a professional management service.
Let’s take a look at the advantages and disadvantages of each method.
Self-Managing Your Airbnb
Self-managing your Airbnb property is when you handle all aspects of management, from cleaning to marketing- on your own.
However, this method does not mean you have to clean your Airbnb property by yourself. You may delegate any tasks you feel necessary, but ultimately, the management and decisions fall to you.
Pros
- You Have More Control
When you manage your own Airbnb, you have more control over every aspect of the property. - You can decide who you let into your Airbnb, from guests to contractors.
- Your Profit Margin Is Higher
When you manage your Airbnb, you do not have to pay a management company any fees.
Additionally, if you clean and work on the property yourself, you can save significant money.
Cons
- Less Efficiency
A self-managed Airbnb will never be as efficient as a professionally-managed Airbnb; the odds
are slim that you can regularly have guests in and out of your property like a hotel room. - More Time And Effort
Managing a property is no easy task; while a professional management company has a whole team behind each property, you are only one person.Even if you have a friend or your family assisting you, managing your property can be challenging and time-consuming.
Professionally-Managed Airbnbs
The other major option for managing your Airbnb property is hiring a professional property management company. These companies will handle most, if not all, of the duties associated with running an Airbnb,
from marketing to dispute management.
These companies will require a fee, but in terms of efficiency, a professional management company is unmatched.
Pros
- Potential For Better Service
A professional management service will be staffed by experts in the field, including a professional customer service team who can resolve disputes with ease. - Professional Marketing
When you list your Airbnb, you may list it and let it sit.
On the other hand, a professional management company can market your listing to optimise guest turnover and gain you some extra cash.
Additionally, if you clean and work on the property yourself, you can save significant money.
Cons
- Management Fees
Unfortunately, a professional management company will not offer its services for free. One of the most significant downsides is that these services cost money.Typically, this cost will come in the form of a management fee charged as a percentage. - You Have Very Little Involvement
A self-managed Airbnb will have significant input from its owner, who decides who can stay at
the property and who to use to clean and repair it.With a professional management company, you may lose much of the control you have over
your Airbnb property.
Which Method Is Best For Me?
Ultimately, there is no right or wrong way to manage an Airbnb; whether you should go for a professionally-managed Airbnb or manage your property yourself depends entirely on your needs.
If you are a friendly person who wants to greet all of your guests, you may choose to self- manage your properties. However, if you value efficiency, you may want a professional management company!
If you’re looking for a happy medium, KeyNinja is able to help. With the KeyNinja app, you can
outsource parts of your Airbnb operations like cleaning, inspections and key handover or the
entire thing. Sign up for free here
