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How to find a great property manager for your Airbnb

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SUMMARY:

If you’re an Airbnb host interested in finding a property manager, what 3 things should you look for in a property manager? Watch this video to find out!

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Normally, I talk about how you can get started managing other people’s properties on Airbnb. Today I want to look at the other perspective and address the people on this channel who own a property they have listed on Airbnb, and how a property owner can select the right property manager to manage your listing on Airbnb. And if you’re a property manager, or are interested in becoming one, this video will provide you insight on what property owners are looking for in a manager and how you can fit those needs. There are some links to some free trainings below that will show you how to manage properties on Airbnb and earn a full time income doing it.

The first thing I recommend you look for in a property manager is that they are specific and they have a niche. That means they don’t want to work with every single property owner, they aren’t trying to appeal to everyone at once. If there’s a property manager that is managing properties for luxury homes, homes in the mountains, homes in the city, two bedroom condos, vacation properties, etc, then more often than not you’re going to find that they’re very disorganized and aren’t going to be able to give the necessary attention to any one group of property owners. Speaking from experience, it would be a nightmare to run that type of business and your property is going to drastically underperform with a manager like that. Meanwhile, a property manager that has a specific niche, or type of property or owner that they work with, that means that they’re going to be able to master that specific space in the industry and have your property performing a lot better and have fewer headaches in the long one. 

The second thing that’s essential in a property manager is to find someone that knows their numbers. If you have a property manager who is just guessing at how much your property is going to earn, that means they are operating your business based on a general idea of occupancy rates or pricing. But if you want to maximize the revenue on your property, you need to work with a property manager who knows their numbers and who can give you data driven pricing. That’s why in our training below, we focus heavily on showing people an easy system you can use to implement data driven pricing. If you neglect using data to dictate your pricing, then your property is going to underperform and that leads to a really big loss of revenue in the longterm. 

The third most important thing to look for in a property manager is to find someone who genuinely cares about adding value to you and your property. For example, they’re interested in finding out what pain points you are specifically experiencing and offering ways to solve your specific problems. If you’re working with someone who is just offering cookie cutter service without trying to understand what you need help with, then you aren’t going to actually get the solutions to the problems you’re experiencing. So you’re going to want to look for someone who is asking you questions and finding out about your needs. Otherwise, your property is going to receive little individual attention longterm and, again, is going to underperform. 

If you find a property manager that checks all those boxes, then it’s a no brainer to get them on board and to start working with them. If they do those things, then a past track record or a wealth of experience isn’t going to be as important. Because if they have those three things down, then that’s going to go a lot further than anything else. 

If you’re interested in learning how to manage properties on Airbnb and how to make sure that you as a property manager can fit this criteria, then I recommend checking out the free training linked below with a step by step walkthrough of how you can avoid common mistakes property managers make when they’re starting out. 

VIDEO TRANSCRIPT:

What's up guys, it's James here and in today's video, I want to talk about the other side of the equation of what I normally talk about. Now normally I talk about how to manage other people's properties on Airbnb and how you can get started doing that. As always, I've linked down in the description below some free training. So we'll walk through that step by step as well.

However, today I want to talk about from the other point of view the other perspective, I know we have a lot of people on this channel that watch because they own a property they have on Airbnb. And so I want to talk about how you as a property owner can select the right property manager to manage your listing. Now, if you are interested in managing other people's properties on Airbnb, or you currently already do, this will probably be one of the most valuable videos you can look at, because it'll give you insight into how a property owners typically going to make their decisions and what they're going to be looking for.

If they're smart, if they know what they're looking for, and they're going to select the best one. So it'll show you how you can position yourself to make sure that you are a very selectable property manager one that property owners actually want to work with. So as always, links are in the description below it is free training. If you are interested in upping your game as an Airbnb host, or you're totally new to Airbnb, maybe have a little bit of experience, maybe you don't, but you want to learn how to earn a full time income managing other people's properties on Airbnb, get, we've got free trainings, LinkedIn description down below that I highly recommend you check out.

So the first thing that you absolutely must do if you want to select a great property manager is smash the like button, you have to hit that like button, please do that for the YouTube algorithm. It helps you tremendously with the channel. So all jokes aside, it does help me out a lot. And I would really, really appreciate if you take a half a second right now and just hit the like button on this video.

But you know, in all seriousness, now, the very first thing that I recommend you look for when you're selecting a property manager is that they are specific, they have a niche, you don't want to work with someone who's trying to be everyone everything to everyone, because what often happens is that person is going to end up being nothing to no one. If you work with a property manager who says that they'll manage properties for real estate investors or vacation homeowners in the mountains or in the city, luxury high end properties or you know, the average two bedroom condo, what you're going to find is that they're often going to be very disorganized and very flustered with everything going on.

I speak from experience in saying that running that type of business on the back end is an absolute nightmare. And when that person is trying to be the jack of all trades to everyone, they're going to be the master of none. And so what's going to happen is your property's likely going to drastically underperform. And there's going to be a lot of issues that will come up on the property due to a lack of overall organization and proper systems.

So if you want to find a property manager that's going to really focus on your property and give it the attention it deserves and have the expertise in dealing with your specific property. Then make sure you work with a property manager who is niched in a specific area, you want to find someone who has decided to go all in on a specific area specific type of property owners a specific space in this industry, and has really become a master of it or is working on becoming a master of it, because that is going to have your property performing a lot better and have a lot fewer headaches coming to you over the long term. So niche is the first thing that I recommend looking for.

The second thing that's super important is that the property manager know their numbers. Number one is niche number two is numbers. If you are working with a property manager who is taking a guess at what your property is going to earn, they're giving you a roundabout projection without any real data behind it, then that means that they're probably going to be operating your business the same way there's going to be running your property based on their best guess of what pricing should be their best idea of what occupancy rates should look like.

And the reality is that if you want your property to bring in top dollar, if you want the revenue to be maximized on your property, you need to work with a property manager who knows their numbers. That's why in the free training is down below. And in all of our trainings, we focus heavily on showing people a really easy, easy way easy system that you can use to make sure that you have data driven pricing. It's really really simple, but the reality is most hosts neglect it and most property managers even neglect this and it will cause your property to underperform short term and long term it's going to be a really big lose lose.

It's not overly complicated, like I said to have a data driven pricing strategy, but if you're guessing what your pricing should be and you're basing on looking at the competition and other you know, false signals, then you're going to have a lot of issues. The property is going to be leaving a lot of money on the table. Number one is Nish number two is numbers. Now, number three, the most important one above and beyond all else, aside maybe from smashing the like button is to make Make sure that you work with a property manager who genuinely cares about adding value to you and creating value for you as an owner, they are asking you questions during your initial interactions about what challenges you have, what pain points you have, and what issues you're trying to overcome and resolve.

If they're just trying to sell you on them managing without fully understanding what it is that you need help with, then all they're going to give you is a cookie cutter service, you want someone who takes the time to understand what challenges you have, so they can authentically and genuinely tell you whether or not they can help with that. The worst thing that you can find is someone who just wants to go and fit a square peg into a round hole, they might ask you the questions, and then they're gonna throw you their cookie cutter solution. Or maybe they don't even ask you the questions at all, and they just start pitching you on why they're great, well, maybe they can do a really good job of optimizing your property.

And maybe they can do a really good job of getting you great guests. But it's really important that they know what's most important to you to make sure that you're a good fit for the systems that they have set up. I see this time and time again with large, huge big management companies like the evolves of the world. And they do an okay job of managing properties. But overall, for most property owners, they're not going to be happy with them, because it's a very cookie cutter service that doesn't really actually solve the problems and challenges that most property owners are facing.

And these properties are going to get very little individual attention long term, causing them to underperform and causing the owners to get quite frustrated. Those are my three top tips for if you're selecting a property manager, number one, make sure they're focused on a specific niche and that you are in that niche. Number two, make sure they know their numbers. And number three, make sure they're focused above and beyond all else on adding value to you and really solving your problems. If you find a property manager that checks all those boxes, then get on board with them right away, chances are they're in high demand if they meet those three criteria.

And so you'll want to make sure to work with them. And you can feel really confident in doing so, past track record past performance isn't as important. As long as you've got those three things dialed in, everyone's got to start somewhere. But if they have those three things down, then that's going to go a lot further than anything else. Now again, if you want to learn how to manage properties on Airbnb, and how to make sure that you absolutely nail all three of those criteria, then I highly recommend checking out the free training that's linked down below.

It's a really, really great train, it's going to walk you through step by step by step so you can come out of the gate strong with your start and you can make sure that you're not making any of the mistakes of not meeting these criteria and other common mistakes that property managers make when they first get started. So really, really awesome opportunity right now to get started in managing other people's properties on Airbnb this year and 2021 have an absolutely huge and are going to be absolutely huge for us.

So you want to get in on that opportunity that I highly recommend checking out the training link down below. Again, if you did like this video, if you enjoyed it got value from it, then please take a half a second and give this video a quick thumbs up hit that like button. If you're new to the channel here, then just hit that subscribe button we will we post two new videos every single week.

And so if you want to stay up to date with this and learn step by step help me have me help you have me help to guide you through starting your first property management company starting to manage other people's listings on Airbnb or host your own property successful on Airbnb, then just click that subscribe button so you'll know when we post new videos twice every single week. I hope you've gotten a lot of value from this video. I hope you found it helpful and I'll see you in the next video.

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