Yes, you can absolutely hire someone to manage your Airbnb property in London on your behalf. Many hosts choose to do this, especially if they have multiple properties, live far away from their rental, or simply prefer to have a professional handle the day-to-day operations.
There are two main options for hiring someone to manage your Airbnb in London:
1. Professional Property Management Companies
There are companies that specialise in short-term rental property management, for example StayinLondon. These companies offer comprehensive services, including guest communication, check-ins, cleaning and maintenance, pricing optimisation, and even marketing. They can handle almost every aspect of hosting, leaving you with more time and peace of mind. However, these services typically come with a fee, which is usually a percentage of your rental income or a flat monthly rate. Commission in London varies anywhere from 15% (for basic online management only) to 25% (for full management) depending on the level of service you require. When comparing these companies always make sure that VAT is included.
2. Individual Airbnb Co-Hosts
Another option is to hire an individual co-host, who can assist you with managing your property in London. This could be a friend, family member, or someone experienced in Airbnb hosting. The arrangement and responsibilities can be more flexible, and the payment terms can be negotiated based on the specific services provided.
When hiring someone to manage your Airbnb, it's essential to:
- Clearly define their responsibilities and the scope of their role.
- Establish open communication channels to keep you informed about bookings, guest inquiries, and any issues that arise.
- Set expectations for guest communication, check-in procedures, and house rules.
- Ensure they have the necessary experience and knowledge of local regulations to handle your property professionally.
Before finalising any agreement, thoroughly vet the person or company you are considering to ensure they are reputable and reliable. Reading reviews from other hosts or property owners they work with can provide helpful insights.
Overall, hiring a professional property manager or co-host can be a valuable investment if it allows you to run a successful and stress-free Airbnb business while maximising your rental income.
What are the key expenses to consider when running your airbnb in London:
- Cleaning and Maintenance: This includes the cost of hiring a cleaning service between guests and general maintenance of the property. Prices may differ based on the size of the property and specific cleaning requirements.
- Listing Fees: Airbnb charges hosts a service fee for each booking, which is typically a percentage of the reservation subtotal. The exact percentage varies depending on factors such as the type of listing, location, and other considerations.
- Utilities: As the host, you may need to cover the cost of utilities, such as electricity, water, gas, and internet, unless you pass these charges on to guests.
- Insurance: It's essential to have appropriate insurance coverage for your property, including short-term rental insurance to protect against potential damage or liability.
- Taxes: Depending on your location, you may be subject to local taxes or regulations related to short-term rentals. It's essential to understand and account for any tax obligations.
- Furnishing and Amenities: If your property is not fully furnished, you'll need to invest in furniture and amenities to provide a comfortable experience for guests.
- Advertising and Promotion: While Airbnb provides a platform for listing your property, additional advertising and promotion may help attract more guests.
- Management Services: Some hosts opt to hire a property management company to handle guest communication, check-ins, and other day-to-day tasks. This can be an added cost but can also save time and effort.
To get a more accurate estimate, it's recommended to research current market conditions in London, reach out to other hosts for insights, and consider consulting with a local property management expert. Additionally, websites and forums dedicated to Airbnb hosting can provide valuable information and cost estimates based on real experiences from hosts in the area.
Happy hosting!
