Airbnb and Vrbo are undoubtedly two of the most popular vacation rental booking sites around. But, after you’ve listed your home on one (or both) of them and wait for the reservations to roll in, there’s still plenty more to do. How will you manage multiple booking calendars and overlapping requests? How will you screen guests and support them during their stay? Who will clean and stock your home after every stay? Which marketing methods will you use to give your home constant exposure online?
This is where vacation rental managers come in. Listing your home on Airbnb and Vrbo is just a small portion of the work required to run a flourishing vacation rental. To cover the rest, you can go either of two ways: self-manage or hire a vacation rental management company.
We’ve examined both to help you decide what’s best for you.
Why hire a full-service vacation rental management company?
Managing a thriving vacation rental is a continuous cycle—market your home, manage your reservations, take care of guests, clean, stock the essentials, repeat. Not to mention the repairs, maintenance, and administrative paperwork in between. Things can get overwhelming fast.
Full-service vacation rental management companies take all of that off your plate, while also maximizing your bookings and rental income. A full-service vacation management company goes even further, automatically setting the optimal rates for every night to help you earn more and offering professional photography, expertly written home descriptions, and 3D Matterport tours—all included in the management fee.
This is an optimal solution if you:
- Worry about dedicating 24/7 attention to supporting guests and continuously marketing, cleaning, stocking, and repairing your home.
- Feel more comfortable knowing a local team is overseeing your home and your guests.
- Prefer a hands-off investment that you can check in on from a distance.
- Reside in another city or state from your vacation home.
- Are focused on growing your vacation rental revenue and delivering excellent guest service.
Reasons to self-manage your vacation rental
Handing over the reins, not just the keys, to a vacation rental manager isn’t for everyone. Plenty of homeowners like to not only be a part of the process, but lead it. Managing your own vacation rental is ideal if you:
- Like building rapport with guests and interacting with them in person.
- Have the flexibility and time (and live close enough) to provide 24/7 guest service.
- Want to source and supervise vendors for housekeeping, maintenance, and repairs.
- Are a marketing enthusiast and can dive into getting visibility online through multiple methods, including email marketing, SEO, and channel marketing.
The biggest downside to running your own vacation rental business is the required time commitment and the never-ending logistics. In the industry, it’s common to hear homeowners liken their vacation home to a full-time job.
At a glance: Full-Service Management Company vs. Airbnb and Vrbo
|
Airbnb or Vrbo |
Full-Service Management Company |
|
|---|---|---|
|
For your guests |
You’re responsible for any help your guests need |
24/7 on-demand guest support, from booking to check-out |
|
For your home |
It’s up to you to find reliable contractors for cleaning and maintenance |
Regular inspections, coordinating maintenance, and professional cleaning are 100% handled |
|
For you |
To keep bookings and income flowing, you may need to invest a lot of your free time |
Help with taxes and permitting, smart pricing, and an easy online dashboard to keep an eye on everything |
|
For your community |
You know the ins and outs of your area, but can’t always be there to watch over things |
Tight-knit local teams live in and know the market—they’re on the ground, ready to help |
Listing your vacation home on Airbnb and Vrbo is a great first step to get exposure. However, you still have to actually manage your property, support your guests, and continuously market to travelers beyond your online listing, like promoting your property on social media and in marketing emails. Deciding between self-management and hiring a property management company largely comes down to whether or not you’re willing to dedicate countless hours to make all that happen.
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