Property Management Companies in London
The short let landscape has adapted and grown exponentially over the last decade thanks to the rise of companies like Airbnb, Booking.com and HomeAway. This allowed the service management industry to expand and give rise to a very competitive market; Airbnb Management Companies.
These companies specialise in providing end to end Airbnb management services facilitating the general requirements guests have come to expect from private Airbnb Hosts. In the last 5 years, several significant players entered the market. These include Hostmaker, Airsorted, Pass The Keys and, of course, GuestReady.
Many hosts wish to ride the wave of opportunities that short-term renting brings to the table. But sometimes they do not have the time or means to do so successfully. To provide high quality and consistent service can be demanding on a host’s day-to-day life. The time required to manage guests’ expectations and service providers can be commanding. That is where Airbnb property management companies step in to help.
Why solicit an Airbnb Management company to manage your property?
Many hosts turn to Airbnb management companies to facilitate managing their property on Airbnb and other rental platforms for several reasons. The primary ones we will go into detail below.
1. Taking the Hassle out of Hosting
Managing a property on Airbnb can be a hassle. From coordinating tasks like guest communication to handing over keys, as well as providing an eye-catching and detailed property listing to even taking photos sounds like an inconvenient amount of work to some. Especially if you have no idea where to begin.
Companies which provide property service management such as Guestready, provide solutions to these problems whilst also providing several other services including professional housekeeping and laundry services, multi-platform marketing and management and the coordination of necessary maintenance.
2. Increase revenue
Airbnb hosts find they can earn more on online booking platforms when they employ a property management company to manage their listing. Airbnb management companies utilise pricing algorithms, market trends and fluctuations combined with ongoing market research to price properties competitively. This strategy allows property managers to increase occupancy rates and maximise hosts earning potential, giving hosts the additional satisfaction of more money with less effort.
3. Peace of mind
Many new hosts look at short-term renting as a way to give a quick boost to their income. However, due to various circumstances, they are unable to manage this themselves. They may work abroad frequently, are on holiday or live in another country entirely. By using a property service provider, hosts can manage their property remotely with ease.
Comparing competitors – London Airbnb Management Companies
If you are looking to employ an Airbnb management agency but are not sure what the differences are between the property management companies as many advertise similar services and prices, we are here to help. How does one tell the difference between one provider and another? Below we compare the 4 biggest players in the UK market: Airsorted, Hostmaker, Pass The Keys and, of course, GuestReady.
Before we dive in exploring what the main differences are between the rental management companies, here is an overview of the services most companies will have in common:
- Multichannel Listing and Profile Management
- 24/7 Guest Communications
- Provision of linen and toiletries
- Property maintenance
- Restocking of basic supplies
Compare the market – best in class
On the surface, many Airbnb management companies can look the same. It is only when hosts use their services that they really get a feeling about how a company operates and coordinate their services.
The best indicator to gain an initial perspective of how well the company operates internally would be to observe the communication and transparency that staff provide to prospective hosts. Good communication commonly results in good communication across operational teams that do the leg work for the provision of services these companies provide. Lacklustre communication could be evidence of miscommunication internally and from an operational standpoint create problems in facilitating the management of the property. This may be due to two primary factors, infrastructure and communication.
Whether you’re a seasonal Airbnb host or a complete newbie to the serviced accommodation industry. You may benefit to look into using a rental management company for hassle-free hosting.
Before you begin, do your research and ask yourself:
- What are the key fundamentals you want your property management agency to meet?
- Which agencies serve my area?
- How long do I want to let my property out for and which services do I need to have covered to help me get the most value out of my short-term rental.
Questions to ask your future Airbnb management company:
- Which Airbnb property management services do you offer?
- Do you outsource any of your services and if yes, which ones?
- What type of fee structure do you work on?
- Do you charge management fees when the property is empty?
- What criteria do you use to vet and approve guests?
- What is your average response time to guest queries
- Which platforms do you advertise the properties on?
- Which insurance provider do you use and what does your insurance cover?
- On average, how much does it cost to fix a maintenance issue?
- How often can I expect updates on my property from my account manager?
- Will I be sent an update report. And if yes, how often will I have access to this report
What sets GuestReady Apart
Recently hailed as one-to-watch by the European Business Awards, GuestReady prides itself for its personal service dedicated to its hosts and guests. Our mission is to help landlords turn their investments into a profitable source of income by using technology to bring the tradition of hospitality to the short-let market. GuestReady differentiates itself by including the following additional services:
- Personal Check-in Service
- Dedicated Account Manager
- Communication Infrastructure
- Continue reading for an overview of services
While we might be chuffed about ourselves, for the sceptics out there or the not yet convinced, we always recommend to do your research, compare quotes and read what others have to say about their experience with an agency. Blogs and review platforms such as Trustpilot are good sources to start from. Keep an eye out for independent websites such as Travel Mag, who have recently reviewed and compared Airbnb management companies in the UK.“Excellent service. Very helpful and responsive and good feedback from Nathan our account manager. We have been able to leave everything in their capable hands” Click To Tweet “Extremely satisfied with the attention to detail and communication. Care is always shown. Guests are looked after from start to Finnish. We highly recommend them to anyone looking at Hosting.” Click To Tweet
Why GuestReady does it better
Infrastructure and communication play key roles in delivering a reliable service to hosts and guests alike, so how does GuestReady do this?
Consistent and reliable rental management service
From the first initial contact hosts have with our staff to the time they build a relationship with their personal account manager; transparency and clear communication are the most consistent themes of the GuestReady service. Guestready aims to manage the expectations of Hosts and Guests from the outset to ensure that the property management service provided is a reliable, convenient and hospitable.
GuestReady has built its infrastructure and software programs from the ground up. This allows staff to utilise specific tools to manage a hosts property as effectively as possible. It also enables their various operational teams to transfer information seamlessly between different media such as the GuestReady App and their main database which is the central hub of the GuestReady system. Teams can review and access information and act promptly to any task in need of action or resolution. Hosts also have access to their property dashboard so they can routinely check-in to see how their property is performing.
Get in touch
Find out more about short letting your property and how you can increase your monthly rental income. Discover our services and schedule a call with our rental management experts today.