When entering the short term rental business, you are faced with several prominent entry barriers, one of which is property management. Managing a property can be incredibly overwhelming and may take a while to do completely on your own, which may be one factor why you haven’t already expanded more into the short term rental or vacation home business. Luckily, co-hosting is a property is an option that may be able to help.
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 email@example.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.