Updated: Sep 19, 2018
Like WeConcierge in Cancun, an Airbnb management service is a company that manages seasonal lets on behalf of an owner.
Including services such as:
-meet and greet,
-communication with guests,
In fact, although we're talking about Airbnb management services,
we could equally talk about short term rental 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 (booking, homeaway, tripadvisor,...). 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 want to rent out their property during the holiday season without having to manage their short-term lets.
Communicating with guests, cleaning between each let, meeting and greeting guests who often arrive late... letting during the holiday season is certainly more profitable (two to three times the amount for a standard let) but is also more time-consuming! The added value of an Airbnb management service is that it organizes the entire rental management process.
When you let 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 offer, 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 WeConcierge service do so because they want to let 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 WeConcierge, we are always looking at how we can let 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 lets.
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 let on both Airbnb and Booking? 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 lettings at higher prices.
How much does an Airbnb management service cost?
On average, an Airbnb management services costs 25% of the rate per night (19% for WeConcierge). On top of this are the fixed fees 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.
However, a good management service is one that gives back. .
Let's imagine, for example, that your apartment lets for $1100mxn per night on average with an occupation rate of 70%.
You delegate your advert to a management service that replaces your photos for more professional-looking ones, arranges for your ad to appear on several platforms, etc. and therefore manages to increase the price per night up to $1200mxn and the occupation rate to 80%.
Your rental income would increase from $23,100mxn to $28,800mxn per month, that is $23,330mxn bearing in mind the commission for the management service, which means that you earn more money without even having to worry about how to manage this!