HOST FATIGUE? GIVE SELF-MANAGEMENT A REST
Hosting is many things: fun, interesting, and sometimes lucrative. But, one thing that you may not know until you are in the thick of it is that it is certainly not easy, especially for full-time hosts who are frequently churning guests. Why is it so much work? Hosts need to market the property and work out the logistical aspects of the rental agreement, as well as hand off keys to each guest, be on call to answer any questions, and provide a clean home, fresh towels and sheets, stocked toilet paper, and more. Host fatigue is a true phenomenon in the peer-to-peer rental market.
To host well, one must invest time and energy to create the guest experience recommended by Airbnb, one that rivals a hotel’s hospitality and consistency. As Airbnb’s Head of Global Hospitality and Strategy Chip Conley tweeted: “To my few hoteliers: it ain’t the bricks & mortars of the building that defines “hospitality,” it’s the heart & soul of the hosts / staff.”
While Chip’s sentiment is correct, it does not change the fact that organization and methodology are required to create that consistently hospitable environment for your guests in a peer-to-peer rental. After all, operating bed and breakfast inns can be a full-time pursuit and HomeAway reports that it takes hosts an average of 8.4 hours per week marketing and managing their vacation rental properties.
Given the time commitment and potential for host fatigue, potential hosts must carefully weigh opportunity cost and burnout potential against financial reward when considering how many weeks they wish to rent their properties. In plain words, how much is your time worth, how likely are you to burn out, and how does the number of weeks that you are on call to host change any of these considerations? And what if you find that you are not great at booking and managing the property?
A solution does exist – hiring a professional property manager who will assume all rental responsibilities on your behalf.
VacationFutures.com is a site that connects homeowners who are looking to rent their home to professional property managers who will manage the home and pay the homeowners a predetermined rate for all weeks during which the manager rents the home. No matter how you find them, property managers can assume all the hosting work and give you a break, as long as you are willing to entrust your asset to a professional.
At the end of the day remember that renting your property is a job, so either ensure to carve out time in your schedule for management or prepare by finding the right property manager to alleviate the burden and prevent host fatigue.
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