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.

professional cleaning

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.

property-let-management

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.

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.

complete property management

  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.

6 Welcome Gift Ideas for Guests

Chocolates

Everyone running short-term lets wants guests to feel special to encourage repeat visits. Gifts are a way to do that, but of course you don’t want to go over the top and spend all your profit. They are also a great way to improve guest review scores, which are critical to driving your property’s listing higher in the search results on websites such as Airbnb. Continue reading “6 Welcome Gift Ideas for Guests”

Hello! The guest is calling this summer…

Let Out Your Home

Hello! The guest is calling this summer..

In the light of the recently introduced ‘tax break’ by the UK Government/UK Chancellor George Osborne on March 16th 201, micro-entrepreneurism in the Airbnb domain is now in full swing. This allowance in essence means Airbnb hosts in the UK will now be able to earn 1000£ tax free which means more income for the cash strapped citizens who own homes that have the potential to be let out. Continue reading “Hello! The guest is calling this summer…”

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”