How to manage an Airbnb: self-management pros & cons

Are you looking into owning an Airbnb rental property? If yes, one of the first and biggest questions you'll ask yourself is how to manage an Airbnb — after all, there's so many things to think about: from Airbnb cleaning, guest communication, maintenance checks, and more.

You’ll also need to think about whether or not you want to manage your Airbnb yourself, or whether or not you want someone to help you run your property. This decision will have a huge impact on your hosting experience, since it influences your earnings and affects your day-to-day life.

We'll talk you through the pros and cons of self-managing your Airbnb property so you can make an educated decision on which is right for you.‍

Is it hard to manage an Airbnb?

While many think of Airbnb hosting as a source of passive income, it's actually a lot more involved than it seems. Day-to-day tasks of Airbnb hosts include:

• Monitoring your Airbnb listing
• Responding to guest inquiries and reviews
• Coordinating guest check-ins and check-outs
• Scheduling Airbnb cleans, property turnovers, and managing maintenance
• Property inspection for any damage in-between guests

Because managing an Airbnb in yourself is very hands-on, you typically need to be near your property for personal inspections and to respond to any urgent guest concerns. Depending on your proximity to your property and how many you manage, you can spend as much as 40 hours a week on managing your Airbnb.

Can Airbnb manage my property?

No, Airbnb cannot manage your short-term rental property on your behalf.

Can I get someone to manage my Airbnb?

Yes, you can work together with an Airbnb manager to help you run your short-term rental. A full-service Airbnb management company like Hometime typically offers the following services:

• Property onboarding: We’ll help you list your home on Airbnb and various Airbnb alternatives so you can start getting bookings ASAP.
• Listing optimisation: We improve your listing using Airbnb SEO best practices, including Airbnb styling services and professional real-estate photography. We also create detailed guides for your guests for a local touch that help you get great Airbnb reviews.
• Airbnb cleaning services: We’ll find the best cleaners for regular cleans and restocking between stays, paid for using the built-in cleaning fee from the booking. No need to pay out of pocket between guest stays.
• Revenue and booking management: Hometime’s pricing analysts and market experts use Airbnb dynamic pricing strategies and customised minimum night settings to calculate Airbnb prices. This optimises your revenue while increasing short-term rental occupancy at the same time.
• Guest communication and management: We go the extra mile to ensure your guests enjoy every part of their stay, from making the booking, checking in, checking out, and everything in between. This includes taking care of maintenance issues quickly, providing alternatives for late-night arrivals, and even meeting them in person when needed!‍
• Property maintenance: Hometime’s local Airbnb experts will sort out all your maintenance needs to make both you and your guests happy. We’ll also do our best to get you the best rates for services in the area due to our close relationships with local businesses.
• Access to Hometime's all-in-one property management software to manage your Airbnb remotely.
• Exclusive Hometime partnerships: We have a range of supplier partners across categories such as cleaning, furniture, and consumables to provide high-quality amenities in your property for a great price.

Know more about our Airbnb management services in Australia and get a free earnings estimate by scheduling an obligation free chat:

Pros and cons of self-managing an Airbnb

Pros

• Personal control and high involvement: Self-management means you're involved in every step. You're on call for every decision, big or small. This includes greeting your guests and organising help with issues or maintenance that may come up. For those who relish this direct interaction and the autonomy it brings, self-managing can be quite rewarding.
• Control over pricing: Setting your nightly rate is more than just numbers; it's about valuing your property on your terms. Self-managing gives you the freedom to adjust your pricing as you see fit, tailoring it to market demands or personal preferences.
• ‍No extra management fees: By choosing self-management, you can bypass the fees typically associated with professional Airbnb management services. This can be financially beneficial, as it potentially increases net earnings from the rental property.

Cons

• The hidden cost of time: While self-managing keeps your profits undiluted, it demands something equally valuable – your time. Managing bookings can be a full-time job is itself, which is particularly challenging for those who actually have a full-time job or if you have multiple properties.
• Guest management and communication: You'll also be the one to talk to guests and handle their concerns during the trip. You have to be on-call 24/7 for any guest concerns: if they want a personal key exchange, for example, or if anything gets broken during their trip. Though automated Airbnb messages can save you a fair bit of time, it's still easy to miss out on messages, which could result to Airbnb claims or even refunds.
• Dynamic pricing: While dynamic pricing is a benefit of short-term property rentals, understanding and implementing dynamic pricing can be a steep learning curve. It's a strategic game, balancing what you believe your property is worth against the market's fluctuations. Without the right tools or expertise, you might find yourself either undercharging or missing out on potential bookings. 
• Geographic spread and upkeep: If you have multiple properties across different regions, keeping an eye on each can be daunting. Ensuring consistent quality and addressing maintenance issues promptly becomes more challenging when distance is involved.
• ‍Airbnb cleaning and property maintenance: While some property owners like the responsibility of keeping their spaces clean, meeting the high standards of cleanliness expected by Airbnb guests requires a lot of time and effort. This includes everything from deep cleaning to ensuring fresh linens – tasks that can become overwhelming, especially after back-to-back bookings.

Self-Management vs Airbnb Property Management

The Hometime team has extensive knowledge on how to manage an Airbnb to maximise occupancy and increase your revenue. Reach out to Hometime for hands-free STR management.