How Business Process Outsourcing boosts revenue for Airbnb landlords
Many landlords shy away from short-term rentals and the heavy workload involved. Business Process Outsourcing (BPO) reduces workload while increasing revenue, making it the perfect solution for landlords who want to get into the profitable Airbnb market.
- Landlords can host their property as an Airbnb and increase yearly profits by creating new ways to rent their property.
- Tasks such as check-in, lawn care, and bookkeeping can be outsourced to a third party.
- BPO saves time, money, and helps increase revenue.
Hosting an Airbnb can be a lucrative decision for any landlord, either by hosting yourself or allowing your tenant to host. Not all situations are ideal for Airbnb but in many cases, short-term renting can amplify your average yearly rental revenue exponentially.
The stability of having a long-term renter will be gone but there are a lot of perks in its place. Airbnb allows hosts to choose their own prices, list their homes for free, and their Host Guarantee Program covers any damages up to $1,000,000.
The chance at increased rental profits is enough to engage most landlords’ attention but many lose interest when they realize there is also more work involved. That’s where BPO can save the day.
Much of the necessary work involved in hosting an Airbnb can be outsourced, from the everyday tasks to the more intensive administrative projects. By outsourcing the tasks involved in running one of these rentals, landlords can focus on expansion, marketing, and development. Here are some of the biggest benefits to using BPO for an Airbnb property:
Almost no one likes to clean. Almost no one enjoys having to find a cleaning company, check references, and all of the other tedious steps involved in cleaning up after a tenant vacates, either.
It can be very difficult to find a cleaning service familiar with the hospitality industry if you are looking to have them manage additional tasks. Cleaning for an Airbnb is expected to be particularly excellent. Outsourcing the cleaning tasks would be a game-changer, therefore. By using a BPO company that has experience hiring cleaning crews for Airbnbs, you can be assured that the best care of the unit will be taken.
Running an Airbnb requires communication with all guests – past, future, and current. Many days see lots of emails, instant messages, and phone calls. A popular listing could get dozens of inquiries per day and managing them might become a full-time job all on its own. Outsourcing customer engagement frees up a lot of time you can reroute to other projects.
Clogged toilets and air conditioners that don’t cool are just a couple of the things that can and do go wrong with vacation rentals. Outsourcing daily maintenance chores is a big help, especially if you don’t live close to the property or know much about household upkeep. Another helpful way to use BPO in the maintenance realm is outsourcing lawn mowing, hedge trimming, and cleaning out the gutters. These chores only need doing once in a while but they are time-consuming.
Checking guests in for their stay is a key part of the vacation rental process. Important instructions are given at this point, money is exchanged, and the keys are handed over. The person checking in your guests has a heavy responsibility and should be trustworthy and knowledgeable in the hospitality industry. Outsourcing the check-in duties to a professional in the field gives your Airbnb listing a cutting edge.
Bookkeeping and revenue management
Taking care of money is not for everyone. Some of us can’t balance our checkbooks, much less manage the revenue and books of a small business. Others can do the fundamental tasks to keep things running but have no knowledge of payroll or how to pay bills. That’s nothing to be ashamed of! Outsourcing money management to a financial whiz not only frees up your time but you may find yourself in better shape than you thought.
Activities and amenities
Having a few extra amenities on the property can take your bookings through the roof. You don’t need an Olympic swimming pool to keep guests happy but conveniences like Wi-Fi, gym equipment, outdoor entertainment, and a hot tub can definitely boost interest in your property.
Just like in a hotel, the best Airbnb hosts provide a list of nearby attractions, shopping venues, and eateries to guests when they arrive but you can also plan a game night, cocktail hour, or movie matinee. Outsourcing these event planning tasks can keep your guests booking.
Landlords are required by law to obtain homeowners insurance before renting their home to a tenant. Insurance companies will dispute the validity of the policy If the home is used as an Airbnb. This poses one of the biggest problems for landlords who want to try short-term renting.
The answer is purchasing vacation rental insurance and asking for a deposit. A few insurance companies are focusing on Airbnb liability insurance since it has become more popular for landlords in recent years. Outsourcing your insurance needs can help you find the best policies for your situation.
Landlords are very busy people. More properties mean more work but also more profits. Doing all of the work yourself is overwhelming and stressful which can lead to mistakes. Hiring new employees to help with the additional work is a job in itself and doesn’t always work out. BPO lets you take control of your rental properties by taking care of the constant, everyday work so you can concentrate on expanding your revenue.
Outsourcing tasks that you aren’t good at or don’t know much about makes it possible for any landlord to jump into Airbnb rentals. You can outsource everything from lawn care to payroll to buy you more time for other projects and save money in the process.
Call a BPO expert for Help
DOXA can help you explore the world of short-term rentals. We help small to medium-sized businesses build high-performing, scalable, global teams. We are a global business services firm structurally aligned to deliver better results for small businesses. Using our proprietary system, we ensure that SMBs have the infrastructure, tools, and resources to compete with larger organizations.
Schedule your free consultation to speak about BPO for Airbnb rentals today.