Much has changed in the short-term accommodation market over the past decade. What started as a few players managing the odd beachside property has exploded into an avalanche of traditional and new. It seems everyone from power brokers to mum and dad investors are cashing in. And it is easy to understand why.
The shared property economy is booming. While uber luxurious five-star hotels do have their place, they do not cater to the needs of all travellers. Indeed, anyone with children, a pet, or desire for quite seclusion will attest to the nuances that come with it.
What many travellers seek is a home away from home. Space, quiet, and the chance to live like a local. Since its inception Airbnb has risen to the challenge, providing guests the access to do just that.
In time Airbnb’s in Canberra became regarded as some with the highest occupancy rates in the country. But as many Canberran property owners relinquished their keys and became hosts the shine quickly began to fade.
You see, at times managing a short-term property rental may not be as easy as it seems. Getting a listing live and handling enquiries is one thing; cleaning up after guests is another. And if you are the custodian of a beautiful pad in a top location the admin can take days.
Thankfully many a smart mob clued up to these challenges and made it their job to help. Airbnb management and servicing companies take the heavy lifting out of running a short-term rental. Using their property market expertise and insider know how they can orchestrate as much – or as little as you like.
But would you trust anyone with your hard earnt property? I suggest not. The good news is that we have selected the crème of the crop to make managing your Airbnb property breeze. For the best in Canberra do read on below.
What makes a great Airbnb management and servicing company?
Great Airbnb management and servicing companies operate much like property managers. They take care of the daily running of your short-term rental while lining your pockets at the same time. The best will even treat it as if it were their own, looking for ways to optimise yield and return. Here are some aspects to consider when evaluating prospective players:
- Full-service offering. While individual needs will vary by owner, it is worth considering a service that does everything under the one roof. And when we say everything, we truly mean it. Why? Because it caters to your needs now, and any potential changes that life brings along the way. Indeed, the best Airbnb management and servicing companies do it all. They take care of preliminaries like preparing the property for advertising. This means staging, photography, and crafting the listing. They also publish it; across Airbnb and any other platforms of your choosing. Next, they handle potential customer enquiries, screen guests, and facilitate bookings. And when the time comes to welcome your guests, they are there with open arms. Any guest needs during their stay? Your management and servicing team will handle it. And once your guests have departed, they clean, refresh, and replenish your property ready for the next booking. So, find out which aspects are offered under each servicing tier and weigh up the best options for you.
- Rental return growth. As with any product, there is method to the madness when it comes to pricing. The best Airbnb management and servicing companies have clear pricing strategies that are based on data. In fact, many will utilise pricing software to help inform decisions and assess trends; hence removing any guesswork. While enquiring with various providers ask questions about their pricing strategy. Do they look at all market indicators? Things like occupancy rates, average rates per night, retention rates, and of course net yield. Ultimately dynamic pricing that supports supply and demand is crucial variable that will occupancy high and increase overall revenue. If your potential management crew cannot demonstrate how this will grow over time it is best to move on.
- Transparency. Just because you are handing over the keys it does not mean that you need to relinquish all visibility. The best management and servicing teams know how important it is to keep you in the driving seat. Transparency should translate to the basics like visibility over upcoming bookings, revenue, and performance analytics. Many even provide digital dashboards making information readily accessible at the click of a button. Transparency should also translate to greater information sharing. Things like performance evaluations, area guides, and client case studies. Finally, it should clarity on the overall investment strategy. After all, the best management and servicing teams grow alongside their clients.
- Flexible contracts & payment. When it comes to the management of short-term rentals flexibility is key. While contracts are a necessity, consider flexibility and look for things like no lock in contracts to ensure you remain in control. And when it comes to the contracts themselves; read and review each with a fine-toothed comb. Each should clearly stipulate inclusions, exclusions, and outline who is responsible for what. All costs should be clearly outlined along with billing and payment cycles. And, when it comes to money back in your pocket you should not wait months for the pennies to drop. Look for weekly payment back into your account so that earnings are available right away.
- Seamless guest experience. Let us not forget your guests! One of the great benefits that comes with outsourcing your responsibilities is that hosting can all be taken care of. The best Airbnb management and servicing teams are seasoned experts providing seamless experiences for guests. This means simple bookings, smooth check-ins, and round the clock support for your guests. It means full cupboards, crisp sheets, and sweet-smelling linen each and every time. Some companies go so far as to curate personal property and neighbourhood manuals to enhance the guest’s stay. The best way to assess this is to review guest experiences on other properties managed. And for added peace of mind see if you can speak to a current client or two.
The best Airbnb management and servicing in Canberra
Riotact’s editorial team has combed through 20 years of on-site comments to compile a list of the most recommended businesses according to you.
To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on Riotact and Facebook as well as maintaining a minimum average of 4/5 stars on Google.
Guested is a full-service Airbnb property management solution that handles everything including bookings, photography, cleaning, guest communication, key exchanges and advice on nightly rates.
With the backing of Independent Property Group, which has more than 60 years in the Canberra property market, guests have 24/7 local concierge services and owners can access a real-time dashboard about their property’s performance.
Owners additionally receive all traditional property management services including bill payments, inspection reporting and maintenance.
Guested is the largest short stay property management platform in the ACT and occupancy rates are consistently above 70%.
Troy Potter wrote on Google, “I have been using Guested for many months to manage my apartment for short term rentals while I am overseas. From the first meeting to discuss the services they offer; they have been 100% professional in all interactions. Their online portal provides real-time access to all bookings and availability including the income expected. I have literally just turned over my keys and they have taken care of the rest. I would highly recommend their services for managing any short-term rental properties.”
With unparalleled flexibility, The Property Collective can turn investor properties into cash-positive investments through short-term Airbnb rentals. As apartment specialists with deep market knowledge, The Property Collective operates with a reimagined approach and low short-stay rental management fees.
The Property Collective know the ins and outs of property, having listed, sold and rented hundreds of apartments across the capital. As experienced professionals they have access to the best property-related services to give guests optimum experiences.
The five-star assessment report developed for each property forecasts earning potential and details how to get market ready, attract ideal guests and earn a higher income in just weeks. Other investor benefits include the customisation of property management to align with individual goals and budgets, while driving higher occupancy rates and higher returns.
The Property Collective’s marketing is delivered through dedicated short-stay management software, integrated with Airbnb’s successful booking portal plus all the other major portals. Detailed marketing includes high-quality photography, creative copy writing, ongoing pricing adjustments and listing optimisation.
Investors are kept abreast of the performance of their short-stay rental in real time. The Property Collective’s portal gives owners 24-7 access to revenue, reservations and monthly and end-of-year statements.
Guests enjoy seamless check in and check out, customised guest guides and five-star cleanliness.
Sean Macguire wrote on Google, “Informative, responsive to requests and questions, proactive, knowledgeable on the market and supportive.”
Since their inception in Sydney in 2017 AirKeeper have worked to maximise return by transforming traditionally long-term rental properties into beautiful short-term rental homes. As licensed real estate agents their market expertise is a great bonus.
AirKeeper’s all-inclusive service offering spans property set up, listing publication and management, guest enquiries and bookings, through to concierge solutions. Additional aspects include cleaning, supply of linen, and maintenance.
AirKeeper also offer helpful management tools and client portals providing transparency over earnings and growth.
Joe Kennedy shared this review on Google, “These guys are amazing, everything I needed was taken care of immediately. I highly recommend them. I wouldn't trust my properties with anyone else.”
The locally based team at Accommodate Canberra are a seasoned property market experts who specialise in the short-term executive rental space.
Their invaluable market knowledge is geared toward maximising rental yields through targeting executive clientele and corporate professionals within the public and private sector.
Chris Miller shared this glowing review on Google, “I highly recommend this business."
Canberra based start-up Canbnb; have built a reputation for disrupting the traditional property management industry by empowering owners to achieve great returns without giving up access to their homes.
Their full-service offering includes interior styling, listing and promotion, cleaning, and linen supply, all the way through to 24/7 guest support and even property maintenance. With a focus on process efficiency and outstanding guest experiences their local knowledge is an absolute plus.
Julie Nowlin shared her experience on Google, “Canbnb is the perfect solution to your rental problem! They are responsive, professional, and thorough when taking care of your property. You have the ability to access your property and easy transitioning into making your apartment Airbnb ready!”
If you’re looking for more services to manage your property take a look at our articles on the best real estate agents and the best property managers in Canberra. Moreover, our articles on the best mortgage brokers, the best financial planners, and the best tax accountants may also be of interest.
Your experience with Airbnb management and servicing in Canberra
Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.
Have you had experience with any of the Airbnb management and servicing listed above? If so, share your feedback in the comments below.
Frequently Asked Questions
What does an Airbnb management service do?
Airbnb management and servicing organisations effectively help with the day to day running of an Airbnb property. This assistance can range from handling of bookings through to a full package of supportive services from cleaning and the provision of host services to guests through to property maintenance and pricing optimisation. Airbnb management and servicing organisations do charge for their services, however the payoffs for property owners are vast and certainly worth considering.
How much do Airbnb management and servicing organisations charge?
Most Airbnb management and servicing organisations charge a fee based on a percentage of total rental income. The percentage charged varies across the industry and is generally linked to the type of services provided. Simply put, the less involved the higher the price. Typically, you can expect to be charged around 10-15% for a basic service, between 15-20% for a standard service, and upwards of 25% for a premium service. Inclusions under each service levels also vary from a booking management and key drop off through to airport transfers and more. Alternatively, some property owners prefer to negotiate a fixed monthly rental fee. For further details on contracts and associated fees contact your prospective service.
Do Airbnb management services require a licence or permit in Canberra?
Currently, short-term rental accommodation arrangements do not require the operating person to hold a licence or permit. That said, if an individual acts as an agent for arranging stays then they may require to be licensed as a real estate agent. If in doubt, contact your management or service provider for further information.
How do I insure by Airbnb property?
To ensure that your Airbnb property is covered, choose an insurer that specifically covers short term rental and holiday properties. These are sometimes known as commercial liability policies and can be purchased in addition to your homeowner’s coverage. Terms and conditions vary between insurers so make sure you understand your policy inclusions before you start hosting as you may wish to expand your coverage. For further details contact your insurer.
Do I need an ABN to set up an Airbnb property?
Hosting guests in your property through Airbnb, bet it a room or the entire house, is effectively the same as having an investment property. In many cases, the income is generally treated as residential rental income, which means an ABN is not required. That said, if it is a commercial enterprise with GST then an ABN will be required. Before you begin consult your accountant or financial advisor for professional advice on available options.