Not all AirBnb Property Managers are created equal. If you have zero experience in hiring one, you may feel a little overwhelmed. At Cozie Homes, we like things to be upfront which is why we’ve created this list of questions you should ask your AirBnb Property Manager before you hire them.
Are you a licensed AirBnb Property Manager?
This may seem like something you would naturally expect but most states in Australia don’t require property managers to have any licenses or qualifications for stays of 60 days or less.
A licensed property manager is trained in:
- how to minimise risk for you
- the legal and ethical implications of letting out your property
- how to manage the finances involved with letting a property.
Simply put, it’s better to have a licensed AirBnb Property Manager than an unlicensed one.
Do you meet and greet every guest?
This is a great question to ask your potential AirBnb Property Manager. At Cozie Homes, we personally meet and greet every single guest at your property. This ensures that the right amount of people are checking in, your guests are shown any intricacies of the property which may minimise damage and we can screen the guests which helps protect the property. We are also available 24/7 for guest communication. Not all AirBnb Property Managers offer this service and rely on keypads or lockboxes which can put your property at risk. It also adds that personal touch that guests will tell their friends, as well as improving reviews, which ultimately drives your bookings.
Is there a rental agreement?
Despite it only being a short term rental, it is still important to get every group to sign an agreement stating that they will agree to the house rules. At Cozie Homes, this is accompanied by a copy of each guest ID and home address. When a guest knows you are taking things seriously, they are less likely to flaunt the rules.
What services are outsourced vs. in house?
If your AirBnb Property Manager outsources cleaning, laundry or greeting of guests this can allow room for things to fall through the cracks which can result in negative reviews of your property. Cozie Homes has in-house cleaners and laundry facilities and we personally meet and greet every guest to your property. This way, everyone involved has a vested interest in the guest experience and we can ensure quality control and reliability.
What is supplied and by whom?
It’s important to know who supplies the following items for your AirBnb property:
- Linen & Bedding
- Welcome gift
- Toilet Paper
- Soap
- Shampoo & Conditioner
- Washing Powder
- Dishwashing Liquid
- Rubbish Bin Liners
- Tea, Coffee, Sugar
- Milk
- Tissues
At Cozie Homes, we include all of these things in our flat management fee, with no hidden costs. At the end of each stay, we attend the property to clean and prepare it ready for the next guest including topping up the above consumables. This makes us great value for money and gives you peace of mind that your guests will have a hassle free stay.
What is the onboarding process when I choose you as my AirBnb Property Manager?
Every AirBnB Property Manager will have a different process for onboarding you. Some may not have much of a process at all. Present your property in the best possible way to maximise your return on investment. With every new property, we offer professional styling services to really make the property shine. A professional photographer will highlight the strengths of your property and ensure that it looks fantastic to potential guests. You want your property to be guest-ready too so it’s important to know that the pre-guest setup is taken care of too.
What are the costs involved for you to be my AirBnb Property Manager?
You’d be crazy not to check how much your AirBnB Property Manager will charge you for their services. Some Property Managers charge only fixed fees and some charge only a percentage of the income received and some charge a combination of both. At Cozie Homes, we only charge a fixed fee of 20% of the nightly rate which includes the laundry, cleaning and consumables, meet and greet, welcome gift and overseeing the maintenance of the property. Some agents will charge all of these fees separately, which can appear cheaper at a first glance, but end up costing a lot more in the long term.
What do you do to maximise the return on investment?
You want your AirBnB Property Manager working for you. Asking them this question will help you identify if they are the kind of Property Manager that just sets and forgets or actually works to get you the biggest return on investment. At Cozie Homes, we include an interior design consultation for each new client. This is to see what tweaks can be made to the property in order to maximise the nightly yield. We also analyse the market, using specialist software, to identify areas where you can charge more based on availability, school holidays and local events. We constantly monitor trends and respond to the dynamic, market fluctuations to ensure we are making your investment work for you.
Where is the money held once my AirBnb Property Manager receives it?
By choosing a licensed AirBnB Property Manager, you should find that they operate a trust account. Trust accounts are regularly audited which ensures your money is in safe hands. So, your property manager must hold any rental monies received in the trust account until the guest has checked out. Then, the funds will be disbursed to you. At Cozie Homes, we operate a trust account to ensure everything is above board when it comes to your investment.
Where will my property be listed?
If your property is just listed with AirBnB, you are missing out. With Cozie Homes as your AirBnB Property Manager, your property will get maximum exposure across multiple platforms.
What is the difference between an Edison and a Bayonet?
If your potential AirBnb Property Manager doesn’t know the answer to this question then the warning light bulbs should be flashing.
Conclusion
Choosing your AirBnB Property Manager based on price alone would be doing yourself a disservice. Get a full picture of the services offered and whether you are getting value for money using the above questions.
Cozie Homes welcomes your call for a no obligation chat about becoming your AirBnB Property Management company.