Launching your short-term rental business is an exciting journey, but many hosts come to realize just how time-consuming it can be. When you, as a host, find yourself juggling multiple tasks and feeling pressed for time, there are various tools and solutions to consider. One of them is finding an experienced short-term rental co-host. These individuals can be family members, trusted friends, neighbors, or even hired professionals specifically tasked with supporting your listings and guests, which can significantly accelerate the growth of your business.
Adding a Co-Host on Airbnb
As you enter your Airbnb listing, you'll notice five tabs that allow you to tailor every detail of your listing. When you navigate to the final tab, labeled 'Co-Host,' you'll find a straightforward process for inviting, managing, and organizing co-hosts. Keep in mind that co-hosts need to have their own Airbnb accounts to accept your invitation.
When you invite a co-host, you'll need to provide their email address and specify their level of access. Airbnb offers various access options:
Full Access: Co-hosts with full access have extensive control, allowing them to manage the calendar, the listing, permissions for other co-hosts, communicate with guests, and review payout and transaction history.
Calendar and Inbox Access: With this access level, co-hosts can handle calendar management and guest communication effectively.
Calendar Access: Co-hosts with this access level can view the calendar and access information about check-ins and check-outs.
Once you've set the access level, add a personal touch to your invitation with a customized message, then click or tap to send it.
All your co-hosts will be displayed on your listing, except for those with calendar access. Co-hosts with full access even have the option to designate themselves as the primary host on the listing, or you can assign this role to them.
Pro tip: Add your housekeeper as a co-host with calendar access to streamline your cleaning schedules.
Earnings and Responsibilities
It's essential to determine how you'll distribute responsibilities and profits with your co-host. You have the flexibility to make payments in various ways, including a percentage of your earnings, a fixed amount for each booking, or fixed monthly payments. If you choose to handle co-host payments through Airbnb's platform, you'll need to set up a co-host payout. Your co-host will then have a 14-day window to confirm it, and once confirmed, they can start receiving payouts for bookings after guests have checked in.
To ensure smooth transactions, all co-hosts must establish at least one payout method and, if necessary, complete identity verification and provide the required taxpayer information.
This collaborative approach offers a flexible and secure method for managing earnings and responsibilities with your co-host.
Short-Term Rental Co-Host Agreement
Airbnb requires co-hosts to adhere to the Terms of Service policy, but hosts and co-hosts also have the option to create their own agreement. Ensuring that all terms and expectations are explicitly defined is essential.
Hosts and co-hosts must collaborate to determine hosting responsibilities, clearly assign tasks, and specify co-hosts' earnings.
You can choose to use or modify a pre-made Airbnb co-host agreement (templates can often be found on hosting forums). Alternatively, you can engage a lawyer to draft a customized agreement tailored to your unique needs.
Understanding Short-Term Rental Co-Host Fees: What to Expect
The fees associated with Airbnb co-hosting can vary significantly, influenced by several factors, including the scope of responsibilities, property size, location, and whether you hire a remote or local co-host.
On average, Airbnb co-hosts typically charge up to 15% of the nightly rental rate, excluding cleaning services. However, if their role extends beyond basic hosting to encompass responsibilities such as check-in, check-out, guest experience management, managing other platforms and your channel manager, and property cleaning, they may potentially charge up to 30% of the earnings.
Some co-hosts prefer a fixed monthly fee agreed upon by both parties, while others might add an extra cleaning fee if they are responsible for post-guest cleanups.
Ultimately, the agreement you establish with your co-host should align with the services they provide.
What exactly do short-term rental co-hosts do?
Co-hosts provide valuable assistance in various aspects of vacation rental property management, from offering customer support to overseeing nearly all components of your business. Here are some of the key Airbnb co-host responsibilities that you might expect from your co-host:
Handling reservations
Providing customer support
Writing and responding to reviews
Contacting Airbnb support
Coordinating cleaning and maintenance
Updating the calendar and pricing
Automating workflow
Resolving resolution cases
Creating guidebooks/house manuals
Managing the listings on various OTA platforms/channel manager
Is there anything Airbnb co-hosts can't do?
Yes, there are a few limitations. Co-hosts cannot access the listing owner's payout or taxpayer information. Additionally, they are unable to review the host's activity when the host travels on Airbnb as a guest.
How to Find an Airbnb Co-host?
Ask for recommendations: Reach out to friends or other Airbnb hosts in your area and ask if they can recommend co-hosts.
Search online: There are numerous companies and individuals offering Airbnb co-hosting services. Conduct an online search to explore the different options available and their pricing. I recommend checking out Cohost Marketplace, where you can find professionals, including co-hosts, property managers, and cleaning service experts.
Airbnb unveiled its winter update for 2023 today! The booking platform has enhanced features for both guests and hosts, and among the new changes, there are two exciting updates for co-hosts. As previously mentioned, you can now pay your co-host directly through the platform and have a separate chat thread to communicate with your co-host on the platform.
Final thoughts
If you're grappling with the multitude of responsibilities that come with being a short-term rental host, or you simply need more time to scale your business, hiring a co-host can significantly streamline the management of your vacation rental property. Airbnb co-hosts step in to share responsibilities for your property, providing valuable support for your business.
For new hosts, especially, hiring an experienced co-host can be immensely helpful. Learning the intricacies of this business takes time, and a skilled co-host can make your learning and hosting journey much smoother.
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