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February 21, 2023

What is STR property Co-hosting?

by Alices Home
Property Co-hosting

What is STR property Co-hosting?

Alices Home
February 21, 2023
Property Co-hosting

Table of Contents

Listing a property for rent with Airbnb is a great investment option. However, it involves a great deal of work. Co-hosting is an option that has been developed for owners to manage the responsibilities with a team – sharing the responsibilities and the profits.

What is a property co-host?

A Cohost is someone, such as your property manager, virtual assistants,  family member, friend or neighbor who helps the owner of a short-term vacation rental take care of the property and the guests. They have been nominated by the owner of the property to help out.  Hosts can always contact cohosts, and the other way around.

Responsibility for leasing a property is a complicated process. Cohosts and hosts need to agree on who is responsible for what aspect. Cohosts will be reimbursed for their work and they both need to agree on how much. There will also be expenses so both cohosts and hosts need to agree on who pays for what.

What are the benefits of property co-hosting?

The benefits of forming hosting teams is that they work together, and each member has their own separate Airbnb account.  The account owner manages can also edit the account and account settings, view financial information, and even deactivate the account completely.

The co-hosting team consists of the account manager, team providers and guest management.

  • Team providers are service providers of that account (like cleaners.) Rather than receiving phone calls asking them to complete tasks, they receive them automatically.
  • Listing management of the property do as their name describes.  They create and update the listings, set pricing where required, and manage availability settings.
  • Guest management on the other hand work with guests. They write and respond to guest reviews, and are a point of contact for customer service.

There are many responsibilities to share when it comes to listing a property for rent and helping guests occupy it. This is where a hosting team is relevant.

Lastly, cohosts may be responsible for listing the property. They can manage your listing on your behalf.  However, cohosts won’t have access to the transaction history. 

Advantages of co-hosting your property

Self-hosting is exactly as it sounds – hosting by yourself.  Effectively the advantages are the profit factor: there is more of it for you.

Everything can be done exactly as you like it, and since you won’t be hosting with anyone else, there is less opportunity for miscommunication.

However, listing a property for rent is a lot of work. Without experiencing it, it’s difficult to explain exactly how much.  You are constantly marketing your property, even when it is already booked for weeks ahead. You also need to keep abreast of customer reviews and respond to them all appropriately. When it comes to the finances of the property, this is best managed by someone who understands this sector.

Co-hosting certainly has benefits, but you need to work with a quality team you trust. Ensure you explore both options thoroughly before making a decision either way.

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