When entering the short-term rental business, you encounter several significant entry barriers, with property management being one of the most prominent. Managing a property involves numerous tasks, from coordinating bookings and handling guest inquiries to maintaining the property and ensuring compliance with local regulations. This can be incredibly overwhelming and time-consuming, which might be why you haven’t yet expanded further into the short-term rental or vacation home market.
Fortunately, co-hosting offers a viable solution to these challenges. By partnering with a co-host, you can share the responsibilities of property management, allowing you to leverage their expertise and resources. A co-host can assist with various tasks such as guest communication, check-ins and check-outs, and day-to-day maintenance, helping to alleviate the burden and streamline operations. This collaborative approach not only eases the workload but also provides an opportunity to expand your rental business more effectively and efficiently.
Considering co-hosting could be a strategic move to overcome the initial barriers of property management and unlock the full potential of your short-term rental investments.
Co-hosting Your Property
Co-hosting, essentially is when you connect a property manager or property management company with an existing property. The amount of work done by either partner, and the amount of money can be negotiated between you and the parties involved, but the main draw is the experience of the Property Managers. If that’s your only barrier, this may be your best option. One good website that we’d recommend is Cohost Market, they specialize in this sort of thing by connecting property managers with ours so you can find a partner to co-host with you — and it’s relatively easy to create an account and get started.
Co-hosting can also be taken in a different context, and that is splitting the property management responsibilities 50/50. If you’re someone who is quite busy, and also a bit strapped for cash, going in business with someone else to start your short term rental journey may also be a great option. This option will see you and your partner splitting the responsibility and costs of managing your property. One thing to consider is how much your business part is willing to chip in, whether it’s costs or time.
Whatever the case may be, if you’re looking for someone to help manage your property, or help split costs, co-hosting may be the right option for you. If you have any questions about co-hosting, feel free to email us at contact@ensoconnect.com. We also host twice weekly Clubhouse meetings on our Airbnb on Autopilot Clubhouse. They’re run on Tuesdays and Thursdays at 5:55pm EST where you can join in on the conversation about Airbnb and short term rentals.
