Unlock the Benefits of Airbnb’s New Co-Host Network with Park Place Property Management
Airbnb’s Co-Host Network is a new and innovative platform designed to help property owners find reliable co-hosts who can manage their short-term rentals. At Park Place Property Management, we have been co-hosting for over ten years, managing hundreds of properties across North America. With our extensive experience and local expertise, we are excited to be part of this new network.
What is an Airbnb Co-Host?
An Airbnb co-host is a professional who helps you manage your Airbnb listing by taking care of daily tasks such as guest communication, booking management, and cleaning coordination. For example, you have a property that you want to list on Airbnb, and you already have a listing but you are looking for help with running the day to day operations. All you need to do is invite your co-host and give them permission to manage your listing on your behalf. At that point, they are able to manage pricing, guest communications
How to Find an Airbnb Co-Host
When searching for an Airbnb co-host, there are several key factors to consider:
Look for someone who is local
Check for excellent reviews
Ensure they have experience managing multiple listings
Verify they maintain a high star rating which includes cleanliness and response rates
Ensure they have a 24/7 guest support team
Ensure they have a 24/7 owner support team
A local co-host is crucial, as they are familiar with the nuances of the area, such as seasonality and local regulations, and can price your property better to increase your earnings. We partner with local experts in every city we operate. These partners aren't employees; they are local professionals who understand the market and help us deliver superior results while following all the rules.
Additional factors to consider:
On-the-ground presence for immediate in-person handling of issues
Capacity of cleaning and maintenance teams to handle volume of bookings
References from other property owners currently under contract with your potential co-host
Sample month-end statement to evaluate accounting practices
Payment schedule from the co-host that align with your financial planning needs
Another important questions to ask is if your co-host uses a PMS (Property Management System) like Hostaway. This will allow your co-host to:
List your property on multiple booking channels, increasing visibility, revenue, and occupancy
Handle guest communication from all online platforms in a central location
Schedule cleaning and maintenance efficiently
Set nightly rates for all platforms from a central location
How Do I Pay My Airbnb Co-Host?
Most Airbnb co-hosts charge a commission on the nightly rate for each booking. We make the payment process easy and transparent. We’ve implemented an automated accounting system that deducts the agreed-upon commission (plus sales tax) directly from the nightly rate paid by the guest. At the end of each month, we provide a detailed and transparent statement outlining all earnings and deductions. You’ll receive your payout on the 1st of each month, giving you ample time to plan for things like mortgage and property tax payments.
We believe in full transparency, which is why our statements are sent out on the last day of each month, providing a clear breakdown of your earnings, our commission, and any associated fees. We know reservation dates can change, thats why we only payout for nights booked during a month on a calendar period.
What Services Does an Airbnb Co-Host Provide?
Airbnb co-hosts can offer multiple levels of service, but what many property owners prefer is a full-service property management company. This means that all aspects of managing your short-term rental are completely hands-off, allowing you to sit back and receive your monthly payouts. A full-service co-host typically provides the following:
Listing Creation & Optimization: Whether you already have an existing listing or need one created, a co-host will ensure that your property is presented in the best possible light. This includes professional photos, detailed descriptions, and pricing strategies that are optimized for your market.
Guest Communication: Co-hosts handle all guest interactions from start to finish, including answering inquiries, managing check-ins, and responding to reviews. This ensures that guests have a seamless experience, and that you don't have to worry about handling last-minute requests or issues.
Booking Management: Managing your calendar, coordinating quick turnovers between bookings, and ensuring your property is always available for new guests are key parts of a co-host’s role. They will also work to minimize vacancies and keep your occupancy rate high.
Compliance with Local Laws: Navigating local regulations, HOA rules, and ensuring your property is properly registered and licensed can be complex. A knowledgeable co-host will handle all aspects of compliance, including tax remittance, to ensure that your property adheres to all legal requirements.
Cleaning & Maintenance: A reliable co-host will coordinate cleaning and maintenance services after each guest stay, ensuring that your property remains in pristine condition. With a strong network of cleaners and maintenance professionals, they can handle any volume of bookings without issues.
Revenue Management: Using advanced pricing tools and market knowledge, co-hosts can adjust your nightly rates to reflect demand, seasonality, and local trends. This maximizes your earnings and ensures that your property remains competitive.
Listing Across Multiple Platforms: While Airbnb is the most popular platform, expanding your property’s reach across multiple booking platforms such as VRBO and Booking.com can increase visibility and drive more bookings. Many co-hosts can list and manage your property across various platforms for maximum exposure.
Tax Remittance: A good co-host will also handle the often-overlooked but essential task of remitting taxes, so you don’t have to worry about falling behind on local tax obligations.
By providing these comprehensive services, a full-service co-host takes the hassle out of short-term rental management, allowing property owners to enjoy the financial benefits without the day-to-day stress.
Park Place Property Management is here to make the most of Airbnb’s Co-Host Network. Our local expertise, attention to detail, and dedication to maximizing your earnings make us the ideal partner for your short-term rental property. Whether you’re a seasoned host or just starting out, we have the knowledge and tools to ensure your success.
Ready to start your co-hosting journey? Contact us today to learn more about how we can help manage your property, increase your revenue, and provide you with peace of mind.
