Avoid Hidden Costs in Managing Your Airbnb 2022

Letting Your Property on Airbnb can be Expensive if You’re Not Careful

Whilst letting your home on sites like Airbnb can be a profitable investment, landlords and property owners often underestimate all the others costs involved.

As property letters ourselves, here are some of the expenses you might not see coming. Because short-letting your home is not as simple as sitting back and watching your income grow. But it can be.

Please enquire about our Airbnb management services and get the most out of renting out your home.

Two types of costs

As a property owner or landlord, you might already be aware of certain costs that come with the title. For us, we’ve broken it down to two types of expenses; the ones you see coming and the kind that just come out of nowhere.

why you need an airbnb agency

You have mandatory costs

These are things like a Gas Safety Certificate (around £100), which, if you wish to rent a room in your property, will be a legal requirement to have an annual gas safety inspection.

Certain cities have regulations on whether you might need a permit or a license to short-let your property. You can see Airbnb’s details on UK short-term letting here.

Other mandatory costs will involve:

  • EPC certificate (around £36)
  • Smoke and Carbon Monoxide Alarms
  • Potential legal fees

Then, you have the circumstantial costs

This can include things like property maintenance. For your home to earn up to its highest potential, you will need to cover maintenance costs like decorating, updating fixtures and making sure everything is in a good, usable condition.

And as property problems often happen spontaneously, you’ll likely face a call-out fee for emergencies too.

Next, for your Airbnb let to be successful, you will need to ensure a high standard of cleaning, which also comes at a cost. Not to mention the cost of replenishing essentials like toiletries.

Lastly, there may be key exchange costs.

Most Airbnb hosts do not live close to their rental property or are not always available to exchange keys – and leaving the key under the matt is not an option.

Some hosts, therefore, turn to lockboxes and allow guests a self-check-in process, which again opens up your home to risks.

The solution? Again, an Airbnb Management Service will vet your guests, check them in and out, so you can continue to do whatever you do best.

Not only will this keep your property safe and secure, but it saves you any additional costs.

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What most homeowners do not consider

Another cost factor, which some landlords or homeowners may not initially think of, are downtimes.

Unless you’re an expert in property listing optimisation, likely, your property will not always be fully booked, which may result in the property being vacant for extended periods.

Not only will you continue to cover the costs, but not be able to profit from your empty home or room either.

If you want your property to receive multiple bookings and be full 90% of the time, it is often best to opt for an Airbnb Management Company that can manage this for you.

Not only do their services cover a lot of the costs mentioned above, but they can help to ensure your home remains profitable.

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Do you see how quickly everything adds up?

The costs of short-letting your home can quickly add up if you go it alone. This takes money out of your profit and will rely on you being fully booked to earn a substantial income at all.

Short-letting on Airbnb is where we started, and discovering all these costs was new to us too. As working professionals, too, managing a property let felt like a second job.

That’s why we started Hello Guest, to make it easier for people exactly like us, who wanted to earn a second income without jumping through lots of hoops.

So let us help make it easy for you. Cut out all the extra costs and go with our Airbnb Management Services, which include listing optimisation, cleaning, property maintenance, toiletry replenishment and much, much more.

Pay just one fee (from 12%), sit back and relax. We’ll do the rest.

Contact us to learn more or get started.

How to Get Higher Paying Guests and Minimise Headaches

Want to Earn More with Airbnb Without the Hassle?

Just like a hotel, your Airbnb business relies on bookings to survive. And as you might have figured out already, being a host on Airbnb can be challenging.

You have to respond to guests, check them in and out, optimise your listing, professionally clean your home and maintain it as well as lots of admin in between.

Those who do this all well can turn Airbnb into a career. However, it can be challenging to get the ball rolling if you already have a job and a family.

So what can do you do? Do you want more bookings, extra money and no hassle? Here’s how.

complete property management

Make sure your home is up to scratch

Your space needs to be reset – less of a home, but more like a vacation rental; set up and ready for guests.

Your property will need to be cleaned to a professional standard between guests, which can be pretty time-consuming for you.

Before big seasons, expert, high-earning Airbnbers will evaluate what furniture needs repairing, what supplies and linens need to be purchased, and the cleanliness of the interiors and exteriors.

Some hosts choose to hire professional cleaners, but this adds a fee that will come out of your profit (not to mention others like property maintenance, licenses etc.).

Therefore, it’s likely better to choose an Airbnb management agency, who takes care of all the details for you. Especially with Airbnb’s newly launched Enhanced Clean feature that was introduced following Covid-19.

Here at Hello Guest, we work with local cleaners and maintenance men and replenish the essentials between guests. We include all this in one fee of 12%.

Saving you money, admin and a headache!

Be visible, be found, be chosen

You may think that you might have the best listing ever – and your home could be second to none, but if you’re not discoverable, how can anyone book?

With millions of listings worldwide, it’s sadly not as simple as plopping your listing on there and hoping someone will book.

Airbnb’s algorithm aims to show users listings they are most likely going to book – that is, after all, how they make their money. Further to this, Airbnb often favours hosts who take good care of their guests.

The secret to increasing your Airbnb occupancy? Get yourself on the first page. 

But how? Well, you can learn the secrets behind Airbnb listing optimisation and take the time to test it out for yourself – or you can cut to the chase and hire professionals to do it for you.

As an Airbnb management service, HelloGuest can not only manage your listing, optimise it and handle your bookings, but completely manage your Airbnb property for you.

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Communicate faster

If you’re aspiring to be a Superhost, it will be vital for you to respond to guests quickly.

For example, acknowledging someone’s bookings immediately will be crucial for the customer’s peace of mind.

One of the requirements for becoming a Superhost is responding to 90% of new inquiries or reservations 24 hours. And whilst automated templates and emails can be helpful, we cannot help but feel this misses the personal touch.

Not only this, but consistent communication is critical – and this applies even once a holiday goer has booked.

By constantly communicating with guests, you encourage the likelihood of more positive reviews.

The more reviews you get, the more potential guests learn about your space and feel more encouraged to stay.

Our management service here at Hello Guest is guest communication, and we take it very seriously.

We’ll be there to respond to your guests and any potential guests immediately – we’ll get your responses up faster and help increase the number of bookings your properties gains.

Together, we can be unstoppable. Contact us here.

Why You Should Use an Airbnb Agency for Your Rental Property

5 Reasons You Need an Airbnb Agency

Over the last couple of years, the space-sharing or vacation rental market has boomed – especially through sites like Airbnb in cities like London.

However, due to this fast-growing market, property owners especially are looking at the time and effort required to maintain and increase their potential returns.

In order to take advantage of this wave, many owners have turned to Airbnb management agencies like us to keep up with the demand without having to lift a finger.

Co-host with us.

Airbnb Management Service London

What Is an Airbnb Agency?

What you need to know about Airbnb co-hosting:

In short, an Airbnb management service is a company that will manage your lets on your behalf.

The main services we offer include:

Reasons why you need an agency to expand

Homeowners, looking to earn a substantial amount from short-lets will need to treat their property as a business – and that’s where an agency comes in.

An agency will run your home somewhat like a boutique hotel, making sure it’s clean and has all the fresh amenities a guest would expect.

Be guest ready

  1. Money, money, money

In cities like London, for example, the difference between earnings in the long term compared to the short term are astronomical. But property owners do not always have the time to be a full-time host, which means their earnings are capped.

Management companies in reality only charge a small fee in comparison to other traditional estate agents, for example, here at Hello Guest we only charge 12% – and this will include everything you need for successful holiday let management.

Therefore, your costs go down and profits go up.

  1. Outsourcing is so much easier

One common complaint we often hear is “I’m away and cannot manage my property” and whilst that’s a big concern, property management companies dissolve this issue.

If you travel a lot, either for work or pleasure, why not continue to earn an income on the side.

Whilst being away from home means you cannot manage any of your bookings, an Airbnb management agency can certainly help with this.

Our contracts allow you to come and go to your home or property as you please, but having an agency around makes it all that much easier when trying to maximise your income when your home is vacant.

Plus, it might even give you the opportunity to get away and enjoy a life you might have always dreamed of.

cleaning, restocking household goods, checking in guests

  1. Get your hours back

For many, the biggest turn-off of becoming an Airbnb host is the time you have to commit.

Constantly checking in on guests, replying to them, booking and scheduling can easily turn into a second job.

Some homeowners can even spend an extra 40 hours a month renting out their homes. This can be demanding and a big sacrifice for those who value their family time.

Airbnb management companies again make this easier – they exist to take over every stage of your booking process and manage it all for you, which will require very little input from you.

This means you can put your feet up, watch the reservations roll in and receive a very nice lump sum payment at the end of every month.

Sometimes, it’s not about working harder, but smarter.

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  1. It keeps your property safe and secure

Property security is a big concern. If you are going away, leaving your home unattended is worrying and some insurance companies have rules around this.

With consistent visitors to your property, it will eliminate the threat of an empty residence, which is easy to target.

On top of this, Airbnb management companies also keep your home secure from any guest damage.

By vetting guests beforehand, taking deposits and not allowing short stays or parties, you can trust that your home remains protected and that someone is there always looking out for it.

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  1. You get professional marketing help

Like we said above, seeing success from holiday rentals requires treating your home like a business.

So, when you use property management services, you are also introducing the best marketing strategies your property needs to increase visitors.

Property management companies like ours, optimise your listing, take professional photos and advertise your product.

We’re also super responsive to guests, which helps us to secure bookings faster.

This is why we’re so useful because we provide you with all the help you need to make sure your home is in the right spot to maximise your income.

To enquire about our services, get in touch here.

How Can I Maximise My Earnings on Airbnb?

Five Ways to Maximize your Earnings on Airbnb

Is Airbnb profitable for hosts in the UK? The truth is that short-term lets can earn you thousands every year. 

Especially if your service is managed and executed correctly.

On average, Airbnb hosts can make £600+ a month.

Below are some major considerations that will factor into your Airbnb profit, and remember, running an Airbnb business can be time-consuming, so make sure to set it up correctly to guarantee and ensure consistent profitability.

For any help increasing your Airbnb earnings – just ask us, we’ve done it time and time again and can help you do the same.

is your home ready to rent

Is your home up to scratch?

Airbnb is the new generation hotel – and whilst trends come and go, there are a few staples that we as guests expect when we stay away.

It’s fair to say that we all expect the basic luxuries:

  • Clean, spotless  apartment or home
  • Fresh linen / no hairs or blocked drains
  • A fresh lick of paint on walls that look a bit tired
  • Ironed sheets and clean towels

It’s important to remember that Airbnb guests do not want to be reminded that people live in the property – whilst it may be your home when renting it out, you need to make sure that traces of your life are not hanging around.

airbnb home management

Hire professionals

In our opinion, one way to increase your earnings and turn your home into a profitable business is by hiring an Airbnb Management Company.

First and foremost, you will begin to treat your home, holiday cottage or second property as a business – and one that is managed well.

Airbnb management companies will work tirelessly to market your home, optimise your listing and of course, care for your guests every step of the way.

Why Airbnb management companies work to increase your profit:

  • They optimise your listing
  • They manage your booking calendar and schedule
  • They greet and check out guests
  • They vet guests and take security deposits
  • They professionally clean your home between stays
  • They supply hotel-like toiletries and fresh linen
  • And so much more…

See our property let management services here.

rent your home and earn more

Bad photos can cost you money

Another simple way to increase your revenue is by keeping your property spotless and ensuring it looks inviting.

Again, property management companies can help to optimise your listing, which includes taking new, professional photographs that make the property appear lighter, brighter and the ideal space to get away to.

By uploading plenty of photos, you will be showing the customer everything they need to know before their stay.

Research shows that 10 or more photos will increase the transaction price and reduce the time it takes for a buyer to convert.

Plus, if you integrate some nice, unique touches into your home, you can increase the chance that the customer revisits.

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Extra and easy touches

You know what it’s like when you go away and all the amenities that make a difference. After all, it’s the little things in life that make the most difference.

Simple tips include:

  • Fold towels and place them at the foot of the bed
  • Leave guests tea and coffee
  • Any homemade or local products
  • A little jar of sweets or chocolates

More ways you can increase revenue on Airbnb

  1. Upload the best version of your listing
  2. Gain plenty of reviews
  3. Tailor your amenities to your particular audience
  4. Offer more / add-ons
  5. Price appropriately
  6. Expand your availability
  7. Plan for the future

If you’re interested in hiring an expert Airbnb Management Company, get in touch with us here.

How to Protect your Property Against Parties

The majority of short let guests are good guests and they are very respectful of the property. However, there is a risk some guests may intend to hold a party during their stay.

Its previously been a rare occurrence but with COVID restrictions limiting places to go out, this has increased the risk of using short let accommodation and Airbnb’s as party venues. In fact, Airbnb has also become aware of this risk and as a temporary measure banned any parties until the end of the summer. Continue reading “How to Protect your Property Against Parties”

Insurance Cover for Short Term Letting

Airbnb Insurance Policy

Short term letting has become increasingly popular, especially with the birth of platforms such as Airbnb that allow people to easily market their properties. This is fantastic but it also poses some challenges for necessary auxiliary products and services that come with property ownership, such as insurance. At the heart of the matter is short letting of a residential space no longer neatly falls under either purely residential or commercial classification as it is a mix of both. Continue reading “Insurance Cover for Short Term Letting”

Welcoming guests – Airbnb Management Service London

How do you make your Airbnb guests stay special and make them feel welcome? There are ofcourse things that can be offered over and above what guests expect but we believe ensuring the basics are right goes a long way to achieving a high level of guest satisfaction and 5* reviews. Here we will point out some of the important items to make a good Airbnb management service London as well as provide some ideas how you can go beyond that to offer an excellent experience. Continue reading “Welcoming guests – Airbnb Management Service London”

Some Things to Remember for Airbnb Management London

Managing and renting a property nowadays costs a lot of money but did you know your space can also be an opportunity to earn money? More and more people in London are renting out their places to guests coming for short stays. Airbnb management London helps lots of people to rent their houses while they are away. The Airbnb platform offers a clever way to connects hosts with available space to guests from around the world looking for a place to stay. It does mean opening up your home to strangers so there are some good practices and rules that can help ensure your Airbnb management London experience goes well. Continue reading “Some Things to Remember for Airbnb Management London”

Have you seen the new Airbnb TV ad?

Its good to see Airbnb advertising and promoting the service

If your interested you can also win a stay on a Floating Blue House on the River Thames (see here) although they advise against diving out of the living room window for a swim in the Thames..

Should I rent my property on sites like Airbnb?

Short stay rental sites such as Airbnb, Housetrip, Wimdu & others offer travellers an alternative to staying in hotels. They are online market places connecting private landlords with people looking for a place to stay typically for short periods or weekend visits. This includes a wide range of places to stay from just a room, studio, apartment or even a entire house. But this isn’t exclusively for tourists as many regular business travellers have also been attracted by the benefits over staying in hotels. Continue reading “Should I rent my property on sites like Airbnb?”