Did you know that the average annual revenue for an Airbnb host in Florida was $53,209 in 2021? That sounds great, but we all know you’ve got the potential to make more. How?
If you’re an Airbnb host looking to maximize your revenue, professional Airbnb management may be the solution for you. After all, you know just how much work it takes to manage your property.
By using a professional management service, you can take advantage of their expertise and resources to help grow your business. How do they help you increase your revenue? Management services usually include everything from bookings and cleaning to repairs and marketing.
In this article, we’ll discuss how professional management can help increase your revenue and provide some tips for choosing the right management service. Keep reading to learn more!
Is Tampa a Good Airbnb Market?
Before we dive into Airbnb property management, let’s talk about the Tampa Airbnb market first. Why?
It’s important to understand the value potential of your rental. In doing so, you’re able to understand if you’re falling short and, if that’s the case, how vacation rental management can help you increase your revenue.
So, is Tampa a good Airbnb market? Numerous areas surrounding Tampa were ranked in this year’s list of the 20 hottest real estate markets in the US. Overall, Florida tops other states as being a pretty fast-growing location for those interested in purchasing a property.
For those interested in renting out their property via sites like Airbnb or Vrbo, it’s even hotter! After all, Tampa attracts numerous domestic and international tourists year-round due to the scenic views, temperate climate, and theme park options.
Average prices for Airbnbs in Tampa currently show $2,800 a month with an average daily rate of $154. And, there is a current 53% occupancy rate. This means that if you rent out your Tampa Airbnb, you can expect it to be occupied at least 53% of the month.
All of those statistics point to one answer: Yep, Tampa is a good Airbnb market.
What is Professional Airbnb Management?
Professional Airbnb management is a service that helps property owners list and manage their rental properties on the popular vacation rental platform Airbnb. Likewise, it works similarly for Vrbo rental management.
While many people are familiar with Airbnb as a way to find short-term rentals for vacations or business trips, professional Airbnb management takes the hassle out of renting your property by handling all of the listing, marketing, and guest communication for you.
This not only saves you time and stress, but it can also help you maximize your rental income. However, do keep in mind that professional Airbnb management companies usually charge a percentage of your rental income.
Regardless, even with that percentage cut taken out, it’s still a very affordable option for those looking to get the most out of their investment.
The Benefits of Professional Airbnb Management
As mentioned above, professional Airbnb management is a service that helps hosts manage their properties on Airbnb.
The types of services that these management companies offer include things such as:
- Airbnb listing optimization
- Guest communication
- Guest screening
- Help with check-in and check-out
- Calendar and pricing management
- Monthly accounting
Depending on the company that you go with, they might also offer add-on services such as housekeeping, laundry, and linens.
In addition to taking care of the day-to-day details of running an Airbnb property, Airbnb management services in Tampa can also help increase a property’s income and reviews. Let’s dive into those benefits really quickly.
A professional Airbnb management company will have the knowledge and experience necessary to maximize your rental income. They can help you set the right price for your listing and ensure that it is getting exposure to the right audience.
Managing a rental property can be time-consuming and stressful. By working with a professional company, you can free up your time and rest assured knowing that your property is in good hands.
100% Passive Income
Because most vacation rental management services include monthly accounting, property maintenance and repairs, and full guest communication, you’re able to sit back and, well, do nothing!
This means that your Airbnb rental in Tampa will be a 100% entirely passive income endeavor. You hand everything off to the management company and sit back while they help you increase your revenue.
A professional Airbnb management company will go above and beyond to make sure that guests have a positive experience at your property. This can lead to higher ratings and more bookings in the future.
How to Find a Good Airbnb Management in Tampa
Think this all sounds right for you as a Tampa vacation rental owner? Great! Now, it’s time to start searching for a good Airbnb management company in Tampa.
First, it’s important to find a company that has experience managing Airbnbs in Tampa. Or, at the very least, they should be familiar with the Florida market. This way, they’ll be familiar with the local market and will be able to give you accurate advice about pricing and availability.
Second, you’ll want to make sure the company has a good reputation. You can read online reviews to get an idea of what other people have said about their experience with the company.
And finally, we suggest speaking with the management company to ensure that they offer all of the services you’re looking for.
For example, not all vacation rental management companies offer property maintenance and repairs. Or, some only offer to help with Vrbo property management and not Airbnb property management.
Take time to think about what you’re looking for and then get in contact with a few companies to talk about their experience, services, and rates. Ultimately, it needs to be worth it to you both financially and personally.
After all, if you feel like working with a management company is going to leave you feeling more stressed and with less revenue, it’s definitely not worth it. It pays to find the right company, and being open and honest about your expectations makes that a whole lot easier.
What to Expect From a Professional Airbnb Management Company in Tampa
We’ve walked you through a few of the top benefits of working with an Airbnb management company in Tampa. But what can you really expect?
Usually, they will handle all the details of listing, marketing, and guest communication for you. As a result, you can relax and enjoy the extra income from your rental without having to worry about the day-to-day hassles of being a landlord.
In addition, a professional management company will have a team of cleaners and maintenance workers on standby to keep your property looking its best.
Outside of (and along with) those services, though, here are a few of the top services we suggest looking for.
Creation & Advertising of Property Listings
Owning a vacation rental in Florida is one thing. Advertising is a whole different ball game. A professional Airbnb management company in Tampa can actually help with the creation and advertising of property listings.
As you might know, advertising is important for generating interest in a listing and helping to attract potential guests. However, the process of creating a listing can be time-consuming and requires attention to detail.
High-quality professional management companies can take care of this for you, ensuring that your listing is complete and accurate. They can also help to ensure that your listing stands out from the competition by featuring high-quality photos and an engaging description.
By entrusting the creation and advertising of your property listing to a professional, you can focus on providing an exceptional experience for your guests. However, they’ll likely handle that for you, too.
Guest Communication During Their Stay
If you’re looking to be totally hands-off when renting out your Tampa Airbnb then you definitely want to work with a rental management company that communicates with guests for you.
After all, the last thing you want is to have to answer guest questions about entering the property when they arrive late from the airport at three in the morning!
A professional Airbnb management company in Tampa can help with guest communication during their stay by handling all guest inquiries and requests in a prompt and professional manner.
Furthermore, they can provide timely updates to guests regarding any changes or important information about their stay. Additionally, they can also help to resolve any issues that may arise during the guest’s stay.
By doing so, a professional Airbnb management company can help to ensure that guests have a positive experience during their stay and are able to fully enjoy all that the city of Tampa has to offer.
This leads to better reviews, which leads to more bookings. That all leads to increased revenue!
Calendar & Pricing Management
Not sure how to price your Airbnb? Don’t have the time or energy to stay up to date on Tampa Airbnb rental prices to ensure your property is competitive?
Airbnb calendar and pricing management can be a headache for any Airbnb host. But it’s especially challenging if you have multiple properties or if you’re trying to manage a listing yourself. That’s where a professional Airbnb management company in Tampa can help.
A good Airbnb management company will take care of all the details for you, from creating and managing your calendar to setting prices that maximize your earnings.
As a result, you’ll be able to focus on the things that matter most to you, whether that’s spending time with family or growing your business.
And because they have experience managing Airbnb listings in Tampa, they’ll be able to handle any challenges that come up along the way. You just have to sit back and watch them maximize your monthly revenue.
Property Maintenance & Repairs
This service is especially important for Airbnb hosts who don’t even live in Tampa or who spend a lot of time traveling to other places.
In the event of a plumbing issue, electricity outage, or something similar, a management company should be able to help you fix the issue immediately.
From fixing a broken air conditioner to painting the walls of your rental, these companies can help keep your Airbnb rental in top condition. In addition, they can also handle any necessary repairs that come up in between guests.
This can include anything from fixing a leaky faucet to fixing a broken window. By working with a professional Airbnb management company in Tampa, you can rest assured that your Airbnb rental will be well-maintained and ready for guests at all times.
This is probably one of the biggest hassles of renting out an Airbnb. However, it’s also one of the most important parts of managing and renting a great Airbnb to your guests.
Airbnb property cleanings generally involve a deep clean of the entire unit, including the kitchen, bathroom, and bedrooms. However, a professional Airbnb management company will have a team of experienced cleaners who can handle this type of job quickly and efficiently.
In addition, a professional Airbnb management company will have the necessary equipment to get the job done right. This includes high-powered vacuums and steam cleaners that will remove all dirt, dust, and grime from your rental unit.
As a result, you can be sure that your rental unit will be clean and ready for your next guest. And as you might have guessed (see the trend here?), this leads to…yep, better reviews, more bookings, and ultimately more revenue.
How Much Money You Can Make With Professional Airbnb Management?
As a professional Airbnb management company, we get asked this question a lot. And while there is no easy answer; it depends on many factors.
The most important factors that will affect how much money you can make are:
- Location: Is your property located in a popular tourist destination? If so, you can expect to see higher demand (and prices) than if it were in a more rural area.
- Seasonality: Is your property located in an area with strong seasonal variation? If so, you will likely see higher demand (and prices) during peak times such as summer or winter.
- Property condition: Is your property well-maintained and attractively furnished? If so, you can expect to command higher rates than if it were in need of repair or upgrades.
In general, most professional Airbnb management companies will take a 20-30% cut of the rental price, so you can expect to net 70-80% of the total rental price.
However, keep in mind that they’re likely helping you improve in each of the areas mentioned above. If your low monthly revenue is due to poor property photos in your listing, they can help with that.
Likewise, they’ll be able to improve the cleanliness of your property and your customer service and listing.
How Much Do Tampa Airbnb Management Companies Cost?
There are a few factors that go into the cost of an Airbnb management company. The size of your rental property, location, and the services you need will all play a role in how much you can expect to pay.
Management companies typically charge a percentage of the rental price, so if you have a higher-priced rental, you can expect to pay more. The average cost for an Airbnb management company in Tampa is about 15-30% of the monthly rent.
Overall, though, the cost of an Airbnb management company in Tampa can vary depending on a number of factors. The best way to get an accurate estimate is to get in touch with a company you’re interested in working with!
Airbnb Management in Tampa: Start Today
Airbnb has become a popular way for people to rent out their homes or rooms to travelers. If you live in Tampa and are interested in becoming an Airbnb host, we’re here to help you maximize your revenue.
Professional Airbnb management services in Tampa can help you connect with people who are looking for vacation rentals just like yours. And, they can help ensure your property is primed for full bookings and great reviews.
Ready to get started today? Get in touch to chat about our services.