What is an Airbnb management service?
An Airbnb management service is a company that manages Vacation Rentals (homes) on behalf of an owner, including services such as: meet and greet, cleaning, check-out, ad creation and communication with guests, etc.
In fact, although we're talking about Airbnb management services, we could equally talk about short-stay management services, holiday lettings management services, short-stay management services or even 2.0 management services to refer to our trade. Indeed, for the most part, we don't only rent through Airbnb, but also on a range of platforms that have emerged over the past few years. And while our trade was less reliant on the internet in the past, it still existed well before Airbnb.
The marketing choice to call ourselves an "Airbnb management service" was made by the management services themselves in order to piggyback the success of Airbnb. This is because it's the platform that resonates the most with the general public.
Why use an Airbnb management service?
Our potential customers generally contact us because they either want to rent out their property during the holiday season without having to manage their short-term lets or they contact us because they want their home managed full-time on short term rental platforms (such as AirBnB).
Communicating with guests, cleaning between each reservation, meeting and greeting guests who often arrive late... accommodating bookings during the holiday season is certainly more profitable (two to three times the amount for a standard booking) but is also more time-consuming! The added value of an Airbnb management service is that it organises the entire rental management process.
When you AirBnB an asset, by definition you are not available on-site, and therefore, the idea of delegating makes perfect sense. Before the general public were really aware of the management services we offered, many owners managed everything themselves or had (more or less successfully) perfected their own management of their property with the help of their concierge, cleaner, neighbours or even friends. Even today, most customers who use the Iconic Retreats service do so because they want to generate bookings during the holiday season, but they don't feel like managing or organising the management of their asset.
The other aspect of our work, which is frequently overlooked, because it is all too often neglected by management services themselves, is to create rental value. With Iconic Retreats, we are always looking at how we can generate bookings at a higher rate for our customers and offer them a better service, rather than simply focusing on how we are going to manage the logistics relating to holiday bookings. Of course, the key element of our job is logistics, but it shouldn't stop there! It is also about creating added value.
Professional photos? Increases your visibility by up to twofold. Dynamic prices adapted to seasonal demand? A 20 to 40% increase in booking requests. Advertising your accommodation on both Airbnb and Booking.com? A 30 to 80% increase in booking requests.
An essential part of our job is/should be to maximise the rental incomes for our customers, through know-how or technical skills that they are not able to implement themselves, in order to achieve more frequent bookings at higher prices.
How much does an Airbnb management service cost?
On average, an Airbnb management services' costs ranges between 18% - 35% of the rate per night. On top of this are the fixed fees (e.g. cleaning fee) that will be added to each reservation and which are intended to cover the logistical costs. These fixed fees are generally passed on to the guests. At Iconic Retreats, each property is designated a fee schedule depending on the revenue potential and the difficulty involved in generating a booking. To find out the specific management fee for your property, please contact us.
Please don't hesitate to contact us if you are interested in finding out more about our services.