Though you might think that since Airbnb is an international company, it might have a standard rate for paying property managers. But no, the income of Airbnb property managers is not fixed. Why? There are multiple reasons why, but we will get into those details further down in the article. The primary reason behind property managers not having a fixed salary is that they are not directly employed by AirBnB but by the property owners themselves. Hence, there is no fixed or standard salary guideline.
But the standard payment process works in two ways, the first way may include a fixed salary throughout the year, or the second method can include a commission-based payment. The commission-based payment can also be based on hours of work. The property's location is also equally important to justify the pay rate of Airbnb property managers. But according to the leading job hunt site, Indeed.com data, they mention that the national average salary of Airbnb property managers is around $55,000 per year.
Investing in the rightly qualified property manager for an AirBnb is like investing in the future of the business. The salary and payment of these property managers can easily go up considerably depending on the standard of the property they are managing and its location. And hiring an efficient property manager is not just about managing the property; they can also help owners become “Superhosts” on Airbnb and earn more.
Interested to know more? We can help you. Read this blog to find out what Airbnb property managers make in the USA, the qualities of a good manager and if your property needs one.
What is the average income of Airbnb property managers?
According to market data, the average income of Airbnb property managers can be $28/hour, but it can even range up to $45/hour. The lowest can even go down to $18/hour. But the state, city and region in which the property is located is also a major factor in their salary. The size of the property is also important in deciding the pay grade of the property manager.
Like all other real estate property management tasks, Airbnb properties are also commission-based. This commission pay depends on how well the manager works in growing and stabilizing the business. Great customer reviews and the consistent rise of business can also help the property manager make more money.
How can one choose a good property manager for an Airbnb?
There are different aspects and qualifications to look at when you are hiring or scanning for a good property manager for an Airbnb property. Here are the top things that you need to look out for.
If your candidate has any experience in handling other Airbnb or BnB properties in general. Or if they have any experience in handling and managing properties in related fields. These can include real estate from the hospitality industry or even multi-family property management.
Talk to previous employers of property management candidates to ensure that their background and work experience are credible.
You must also look for property managers who know how to work with the latest technology selection to keep updated with bookings and streamline management.
Your property manager should essentially have local language skills; if they do not, then it can become a major barrier.
The property manager must also have a detailed knowledge of the local place to enhance the tourism experience of the visiting customers. This will directly impact the ratings of the Airbnb property and help it grow further.
An ideal candidate for the property manager role must also be a local person. This will help with the two points mentioned above. And additionally, property managers will not have to pay extra for accommodation.
A candidate should also come with some property management or hospitality degree to be efficient and well-trained in their job. This is even more important if the candidate does not have prior working experience.
How can Airbnb property managers earn more?
What does the job role of Airbnb property managers entail? How can property managers earn more in their existing roles? Why do some managers earn more than the average rates? Let us find out.
Understanding your guests
Airbnb is part of the tourism and hospitality industry. No matter where the property is located or its type, it is always about providing a holistic experience for your visitors. A good property manager must understand their guest's needs and customize their approach to guest handling accordingly. Such small changes for each guest can increase the average commissions of managers and help the business get better ratings.
Understanding your listing and its USP
Airbnb is all about properties with a USP. As a property manager, understanding this USP and selling it to the guests is what will help the manager and business grow. Why should customers stay at a particular property? You need to know the property inside out and how each facility in the property can help enhance your customers' stay. Mention those details in a great fashion on the website to help get more bookings and increase the manager's commissions.
The location of the property
Each Airbnb property comes with a unique location, and understand why people are visiting that particular location. Provide quirky and exclusive location-specific information to the guests to build a connection with them and help better their stay at the property. This will help improve your ratings for both the property and the property manager.
Understanding the special offerings of each season
Each season in a tourism area comes with its own special offerings. A property manager must know what these mean for the tourists and how they can become an added selling point for the property. Offering exclusive inputs, insights on local events, and more can easily help do that.
Managing your real estate properties with Assetsoft
No matter the type of real estate property under your portfolio, the Assetsoft team has a plan for all kinds of real estate properties. From managing properties to providing the top technology selection to automating tedious property management tasks, we can do a lot for you. Want to know how we conduct these processes?
Talk to our team for more. Book a one-hour free consultation call and get in touch with us!