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As your representative, our role is to manage all tasks that would otherwise fall onto you as the owner. We must make sure your best interests are maintained, this is not only related to maximising your income but also relates to protecting your properties reputation online.
We approach the management of your home in a comprehensive manner as feedback is probably more important than immediate income as it stays visible going forward.
We only utilise the services of airbnb as this mitigates the possibility of confusion or double booking which may happen if the home is advertised on multiple platforms.
Our aim is for you to be able to “set and forget” the running of the property, saying that you will be kept informed at all times of any bookings or issues.
We collect a percentage of the total rental income direct from airbnb and the balance goes directly to you the owner. This is great as there are no messy accounting processes for either party to worry about.
Airbnb have 2 selections for booking methods:
Auto-book
It means the guests can automatically book without prior authorisation from us, this can’t be done if it is within less than 24 hours of the booking & if the person has not verified their account with ID etc.
Request to book
The second option is where the guest has to request each time they book, which means we have to authorise it first.
As an agency policy we only utilities the Auto-book feature because this is proven to gain more bookings than the latter & it leaves less room for error in timing with responding to the booking request. Auto-book will increase your revenue, this has been published by Airbnb themselves as proven.
You can request a security deposit from the Airbnb guests, this is not physically held by Airbnb or us however it is an amount that the guest expects to be responsible for if a claim is made. Many listings within the CBD & inner suburbs do not have a security deposit placed on them, however we could put one on if that was your preference – please let us know if so.
Our agency policy on check in & check out times are as follows;
Check in 3 PM-6 PM (as the property does not have an appropriate location for key safe we are not able to provide out of hours check ins)
Check out 11 AM
We recommend a minimum stay of 2 nights per booking, however we can adjust this depending on level of bookings as we made need to reduce it back to 1 night minimum stays initially in order to gain more bookings & reviews in the first few months. This will be discussed with you further in due course where applicable.
Airbnb charge a service fee to both the guest & the host, this not a set percentage it is a sliding scale based on the overall price of the trip however Airbnb note it is normally between 6-12% for guests & appears to be between 3-7% for hosts per booking.
As mentioned previously, we have looked at the competing services in Melbourne & they range from 17-27% with 17% as a very basic service & virtually nothing other than someone handing over the keys, up to 27% where people claim they are doing a whole lot more than is required or relevant (interior design etc.). We have found that 20% + GST of the gross revenue is a fair price to service our owners at the level that we pride ourselves on.
I have included a basic overview on what our services will cover;
Our fee is automatically deducted by Airbnb before it is disbursed by them into your nominated account.
It is an agency requirement for all Airbnb properties under management to have professional photos taken for advertisement at the soonest date the property is ready for letting.
It is recommended all properties have the following amenities available for guest comfort;
We will supply basic bathroom products such as toilet paper & shampoo & conditioner unless you prefer luxury items.
It is also recommended that where possible the owner spend a night in the Airbnb themselves or authorise us to do so before letting it out to fully ensure all aspects are in proper functioning condition.
Airbnb offer a section for rules to be divulged to the potential guests prior to booking, we recommend the following rules;
We highly recommend all owners investigate all insurance options deeply as many insurance policies that normally cover investments may be void in the case of use for Airbnb.
Airbnb do offer a ‘Host Guarantee’ which acts as a partial insurance however in reading their policy I did note the following items;
I would highly recommend you read this for yourself;
Upon confirmation from you to proceed with our services we will draw up the Authority Agreement document that outlines our fees & services & your agreement.