Is A Co-Host the Missing Link to Your Vacation Rental?

Hello Hosts!

If you have been considering co-hosting your vacation rental property, great idea! The vacation rental sector is very competitive, and that is only expected to increase over the coming years as more and more vacation rental accommodations continue to be constructed.

Consider a co-host on a radio program or colour commentator on a sports broadcast. They are there to provide you with extra insight and an alternative viewpoint to enhance the show. They are not the star of the program but add value in a meaningful way. This is what you should be looking for in the right co-host for your vacation rental. 

How Vacation Rental Co-Hosting Differs to Vacation Rental Management

The main difference between hiring a co-host and manager is your level of involvement. 

A vacation rental co-host is only involved on the level you want or need them to be. There may be clear differences between what each of you do. They are there to supplement and help you achieve your property’s goals. 

By hiring a vacation rental manager, on the other hand, you essentially remove yourself from the daily operations of your unit. Your manager does everything, from accepting guest reservations, organizing the cleaning, revenue generation, dealing with complaints, etc, while you earn passive income. 

That’s not to say that co-hosting can’t be more involved. Indeed, many co-hosts offer options that allow you to work more collaboratively your property’s goals. 

Cost

Vacation rental co-hosts are usually more affordable than vacation rental managers. Because you do not hand over full responsibility of your unit to the co-host, and you remain involved in the operation of your unit, the fees for hiring a co-host are usually less than if you hired a full service property manager.

Attributes to Look for in a Co-Host

If you are looking for a co-host to your vacation rental, there are some core traits you want to look out for to ensure you get the most of your relationship with them.

Communication

A great Airbnb co-host, is, first and foremost, a great communicator. They maintain regular contact with you through your preferred communication channels. They constant keep you up to date with what they are doing on your unit and can explain, clearly and directly, their activity. They are available to meet with you to discuss your operations and goals at your convenience.

Industry Experience

Aligning with someone who has a background in hospitality is an important part of ensuring you have the right co-host in place. They have industry tricks and tips to help you achieve the goals of your property. They should have a background as hotel manager, vacation rental manager, or similar experience, directly tied with knowledge of accommodation services.

Activity

You want someone who will be active on your listing and who regularly monitors activity within the scope of their work. They respond to changes in the market and can pivot if things are not working out as intended.

Focused on Your Needs

Your co-host should be focused on achieving your goals. Depending on their level of involvement, they will most likely be playing a supporting role in your hospitality journey and should have goals aligned directly with your strategy. These goals should also be achievable and measurable so everything is clearly laid out to your co-host.

Benefits to Having A Vacation Rental Co-Host

Having the right vacation rental co-host can add value to your property in ways you may not have considered before.

Industry Insight and Expertise

The number one benefit to having the right co-host is the level of expertise they can bring to your unit. The new knowledge, skills, and innovative solutions that the right person can bring to your vacation rental should far outweigh their costs. 

More Time to Do What You Love

Save yourself the stress of having to do everything yourself — you deserve more time to have fun! Having someone who can supplement your time is a great step to your independence. 

You have more time to enjoy your hobbies, take that well-deserved break, or however you want to spend your time. Rather than have to take valuable hours to learn or refine the process yourself, you have someone with you who knows the best practices already.

Strategic Partner to Achieving Your Goals

Having the right partner will help ensure your goals are realized. Whether they are financial, strategic, or operational, they will be able to help you get to the next level. 

Your co-host should be on your side through the journey and aligned with the goals you want to achieve. They are someone who you can bounce ideas off and should have a collaborative mindset. 

Supplements Your Weaknesses

Everyone has places where they need a little bit of extra help. Ensuring you have someone with strengths to complement your weaknesses is a smart way to ensure your investment is more well-rounded and performing well. 

You Still Have Control

One of the main draws for you over a vacation rental company is that you maintain control over the processes that you want to control. Remember, the main difference to a co-host is that it is not a full rental management agreement, so you can be directly involved & accountable with the performance of your property.

Pay Only for What You Need

When you hire the right co-host, you pay only for the services that you need. This can provide a substantial saving over hiring a property manager who will take a larger cut of revenue to your unit.

Putting It All Together

Vacation Rental Co-hosting isn’t for everyone. However, there are lots of benefits that you and your short-term rental can gain from going this route. If you think that this solution is something you’d like to explore more about, and not sure where to start, you’re in luck.

We are currently accepting co-hosting arrangements for North American clients. You can use the contact us form below to learn more about our co-hosting opportunities or book a free 15-minute introductory meeting to learn more about us. We look forward to hearing from you.

As always, happy hosting!