Have you ever considered using an Airbnb cohost? If not, you should for many reasons!
In this blog post, we will define what an Airbnb cohost is and go over the benefits of utilizing one. Many people are hesitant to use a cohost because they don’t understand what it is or how it works. We’re here to clear things up for you- whether you’re already an Airbnb host or considering your options before you dive into short-term rentals.
What is an Airbnb Cohost?
An Airbnb co-host is a host who you can hire to help you manage a listing or multiple listings. Co-hosts assist the Airbnb host by taking on responsibilities for keeping the property in good shape. They relieve you of some of the burdens and time needed to manage your properties, allowing you to focus on other parts of your business (or take a much-needed break!).
Who Can Cohost Your Property?
There are a variety of people or groups that can take on the role of a cohost for your Airbnb property. Let’s review the most common options:
- Family and friends: There are benefits of having a cohost that you can trust and communicate effectively with. This makes a close friend, family member, or even neighbor plausible options. However, always proceed with caution when mixing friendships and money. Unfortunately, it can be tricky and get messy for some folks if clear boundaries and expectations aren’t set!
- The Airbnb Host Marketplace: The Airbnb website also has a neighborhood co-host option. You can tap into the knowledge of your local co-hosts and their capacity to assist with your listing if you utilize them as local hosts. This is particularly helpful if you are renting a property from afar, such as your vacation home.
- Property management: You can also hire a professional property manager as your co-host. This is ideal if you live in another state or country from where your rental property is located or if you want to take a more passive approach to manage your property. They can help you with everything from guest communications to housekeeping and maintenance.
How Will a Cohost Help Manage Your Rental?
Co-hosts help with the day-to-day tasks of being an Airbnb host. They can help with as little or as much as you need them. This includes, but is not limited to:
- Create a listing: If you’re starting from scratch, your co-host can help you create a listing that accurately reflects your rental property. This includes adding photos, descriptions, and amenities.
- Setup calendar availability: Once your listing is complete, your co-host can help you manage the availability calendar. This includes blocking off unavailable dates and opening up dates for guests to book.
- Choose appropriate pricing or utilize pricing software: If you’re not sure how to price your rental, your co-host can help. They may also have access to software that will dynamically price your rental based on market demand.
- Manage the messaging portal: Responding to messages promptly is key for maintaining a high rating on Airbnb. Your co-host can help you manage the messaging portal, so you don’t have to worry about responding to potential guests around the clock.
- Respond to reservation inquiries: After a guest sends an inquiry, your co-host can help you respond. This includes sending information about the rental property, the surrounding area, and the booking process.
- Prepare the property for guests: Once a reservation is confirmed, your co-host can help you prepare the property for guests. This includes stocking the rental with essentials and ensuring that the space is clean and presentable.
- Meet and greet guests: If you’re not able to meet and greet guests when they arrive, your co-host can do it for you. They will provide guests with a tour of the property and answer any questions they may have (if needed).
- Restocking of household essentials: Your co-host can help you keep the rental stocked with household essentials, such as toilet paper, paper towels, shampoo, etc. This is especially helpful if you have back-to-back bookings.
- Housekeeping and turnover: After guests check out, your co-host can help with the housekeeping and turnover process. This includes cleaning the rental, changing the sheets, and resetting the space for the next guests.
- Regular home maintenance: Depending on the property, your co-host can help with regular home maintenance (or notify you when something needs to be scheduled), such as changing air filters and smoke detector batteries. As a result, you can avoid any negative reviews due to maintenance issues and keep your home in excellent condition.
- Manage reviews from guests as needed: Your co-host can help you manage reviews from guests. This includes responding to negative reviews (if needed) and highlighting the positive aspects of your rental property.
The Benefits of Hiring a Property Manager
There are several benefits of hiring a property manager as your co-host, such as:
- They have experience in the hospitality industry. A property manager can bring their experience in the hospitality industry to help you run your rental property.
- They have insight into what guests are looking for and how to give them the best experience possible.
- They are familiar with the local area. A property manager that is familiar with the local area can be a valuable asset. They can help you choose the right price for your rental, as well as make recommendations for things to do in the area.
- They can be a mediator. A property manager can act as a mediator between you and your guests. They can help resolve any issues that may arise and help keep the peace.
- They can take care of the day-to-day tasks. A property manager can take care of the day-to-day tasks, so you don’t have to. You can achieve financial freedom without burning yourself out this way.
How Much Does a Cohost Cost?
The cost of a cohost will vary depending on the services they provide and the amount of time they spend working on your property. Several different payment structures are a possibility. These include:
- Agreeing upon a percentage of the rental income: You and your cohost will agree on a percentage of the rental income (or daily rate) that they will receive. For example, if you make $1000 in short rental income, they may receive 20% ($200). This can range anywhere from 10 to 40% depending on how involved they are.
- A monthly flat fee: You will pay your cohost a monthly fee, regardless of how much or how little work they do on your property. This is a great option as long as expectations are clearly set.
- Charging an hourly rate: You will pay your cohost an hourly rate for their time. For example, if their hourly rate is $25 and they work on your property for 20 hours, you will owe them $500.
Regardless of which option you choose, how much you pay them will ultimately depend on how much of the rental management work you delegate to them- ranging from all of it to just a few basic tasks.
How to Get Started with an Airbnb Cohost
Airbnb has made it super easy to get started.
- Carefully consider your cohost options
- Talk to a potential cohost and see if they agree to help
- Choose a cohost you are comfortable with
- Sign in to your account
- Click on the listing you want to be cohosted
- Choose the “cohost” option
- Click the “invite” button and add the email of the cohost you have chosen
- Once they accept, they can start helping you!
As you can see, there are several benefits to having a cohost for your Airbnb rental property. A cohost can be a valuable asset, helping you with daily tasks and giving you peace of mind that your rental is being well cared for. If you are thinking about hiring a cohost, be sure to carefully consider your options and choose someone you are comfortable with. Once you have found the perfect cohost, you can kick back and breathe a little.
What are you waiting for? Find one, or chat with one of our expert property managers at Skye Management SD today!