What is Airbnb property management
Airbnb management companies exist to help bridge the gap between the easy of management of standard buy to let and the high yield of airbnb, often people wanting to explore maximising their yield on their property by converting it into an Airbnb do not want the day to day operations and are prepared to make a little less profit to make this process more seamless, this is where an Airbnb management company comes in.
Often times people especially when just starting out need a way in which to manage the operations side of their business but lack the funds needed or simply do not want the hassle, this is where partnering with a management company can be very helpful taking the weight off and allowing the individual to grow their business.
Charges - Management companies charge between 12%-20% for management, some may charge some extra fees and some may not, to get an accurate price reach out to one directly.
Services - Often this can come with a completely hands off approach, the company will deal with maximising rates, occupancy, guest communication, reviews, cleaners, maintenance, listing optimisation, disputes and more.
Responsibility of the owner - Once a manager is hired, really the only responsibilities that the owner has is making sure that the property continues to have a supply of electric, WIFI, Gas, Water, council tax & to make sure the property has permission to be on Airbnb.
If you are looking to become an Airbnb manager we would highly recommend start by managing your own properties first either via renting a property from a landlord via the R2R method or buying your first property, this will give you great insight into what it is like and to see if starting this business will be right for you whilst keeping your risk and work load small.
F&Q
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There are several different cancellation policies that you can choose from as an Airbnb host. For short-term bookings, your options are:
Flexible: Guests can cancel up to 1 day before check-in for a full refund.
Moderate: Guests will receive a full refund if they cancel up to 5 days before arrival.
Firm: Guests must cancel at least 30 days before check-in to receive a full refund. If they give between 7 and 30 days’ notice, they will receive a 50% refund.
Strict: Guests must cancel within 48 hours of booking, and at least 14 days before check-in, to receive a full refund. If they cancel between 7 and 14 days before arrival, they will receive a 50% refund.
Only ‘firm’ and ‘strict’ policies are available for long-term stays (at least 28 consecutive nights).
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Airbnb guests can send a request to change their booking after it has been confirmed. However, the host must acknowledge and accept the request in order for the modification to be confirmed.
For example, if a guest originally booked a 3-night stay and wants to change it to a 2-night stay, you will receive a notification about their trip change request. You can then choose whether to accept it or decline it. If you wish, you can ask the guest for more information before making a decision.
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Always aim to respond to trip change requests promptly and professionally. Review the request as soon as possible and determine whether it is feasible for you. For example, if they request to shorten their stay the day before check-in, you may choose to decline if you believe you will be unable to re-book those dates. Whatever your decision, communicate it clearly at your earliest convenience. Alternatively, you can leave everything to an Airbnb management service, such as Stayful.
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If a guest cancels or modifies their booking, your calendar should update automatically, so that the dates show as available to other potential guests. If you need to manually adjust your availability, you can do this by navigating to the ‘Calendar’ section of your Airbnb dashboard and unblocking dates from there. Be aware that if you cancel a booking, the associated days may remain blocked, preventing you from accepting another reservation.
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As an Airbnb host, you cannot change a reservation on behalf of a guest (e.g. modify the dates of the booking). To do this, the guest must make a trip change request.
You can cancel a guest’s booking at any time. However, unless there are extenuating circumstances, this may incur penalty fees. Your calendar may also remain blocked for the dates of the reservation. If a guest wishes to cancel, you should instruct them to do so on their end and remind them of your cancellation policy.
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If you can no longer accommodate a guest and need to cancel their booking, they will automatically receive a full refund. If your guest cancels, their eligibility for a refund will depend on which cancellation policy you’ve chosen. For example, if you have a firm policy, they will only receive a full refund if they cancel at least 30 days prior to check-in.
In the case of extenuating circumstances, such as natural disasters, guests may be able to claim a refund directly from Airbnb.
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Airbnb’s Extenuating Circumstances Policy protects hosts and guests who need to cancel bookings due to unforeseen events outside of their control. The scenarios covered by the policy include:
Unexpected changes to visa or passport requirements
Declared local or national emergencies, such as epidemics
Government-imposed travel restrictions
Hostilities such as acts of war, terrorism and riots
Natural disasters including severe and abnormal weather events
If you have to cancel a guest’s booking due to any of the above, you will not face adverse consequences such as penalty fees. If a guest is affected by extenuating circumstances, they can apply to Airbnb for a refund or travel credit.
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Yes, as a host, you have the right to decline a guest’s request to modify their booking. However, you should try to be as flexible and understanding as possible – they may have a good reason for needing to change their travel dates. If you cannot accommodate their request, respond promptly and communicate your reasons professionally and politely.
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If a guest cancels their stay at the last minute, you do not need to do anything. If they qualify for a refund, they will receive it automatically, and this amount will be deducted from your future payouts. Airbnb will notify you of the cancellation and immediately unblock the dates on your calendar, allowing you to accept new bookings straight away.
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If you hire an Airbnb property management company, you won’t have to worry about handling reservations, modifications and cancellations. They will take care of everything for you, from managing your property’s availability calendar to dealing with refunds and trip change requests. They will ensure everything is handled efficiently and professionally, taking the strain away from you contact Stayful to find out more.
Visit our blog to learn more about Holiday letting & serviced accommodation on online platforms like Airbnb
Some Areas We Cover for Airbnb Management