Beyond Bending Tell You How
Airbnb has revolutionized the travel industry, offering travelers a unique experience to stay in someone’s home instead of a hotel. With over 7 million listings worldwide, Airbnb has created a new market for homeowners to rent out their properties. However, managing an Airbnb property can be a full-time job, which is why many property owners turn to Airbnb property managers for help.
If you’re considering becoming an Airbnb property manager or hiring one, one of the most important things to consider is how much they make. In this article, we’ll explore the various factors that affect the income of Airbnb property managers and estimate how much they can expect to earn.
Factors That Affect Airbnb Property Manager Income
Location
One of the biggest factors that affect an Airbnb property manager’s income is the location of the property. High-demand areas like major cities or tourist destinations will generate more revenue than less popular areas. For example, an Airbnb property manager in New York City will earn significantly more than one in a small town in the Midwest.
Size of the Property
The size of the property also plays a role in the income of an Airbnb property manager. Larger properties can accommodate more guests, which means higher rental rates and more revenue. However, larger properties also require more maintenance and cleaning, which can increase expenses.
Occupancy Rate
The occupancy rate, or the percentage of time the property is occupied, is another important factor that affects an Airbnb property manager’s income. A higher occupancy rate means more rental income, but it also means more wear and tear on the property and higher cleaning costs.
Seasonality
Seasonality is another factor that affects the income of Airbnb property managers. Popular vacation times like summer and holidays can generate higher rental rates, while slower seasons can result in lower rates and fewer bookings.
Management Fees
The fees charged by Airbnb property managers also affect their income. Some managers charge a flat fee, while others take a percentage of the rental income. Flat fees can be more predictable, while percentage-based fees can result in higher income if the property is in a high-demand area.
How Much Do Airbnb Property Managers Make?
The income of an Airbnb property manager varies widely based on the factors mentioned above. According to a survey by AirDNA, the average income for an Airbnb property manager in the United States is $48,000 per year. However, this number can range from $20,000 to over $100,000 depending on the location, size of the property, occupancy rate, and other factors.
According to Airbnb, hosts who use professional property management companies earn an average of 31% more than those who manage their properties themselves. This is because property managers can optimize pricing, manage reservations, and handle guest communication more efficiently.
To get a more accurate estimate of how much an Airbnb property manager can make, let’s take a closer look at some of the most popular Airbnb markets in the United States.
Airbnb Property Manager Income by City
New York City
New York City is one of the most popular Airbnb markets in the United States, with over 50,000 listings. According to AirDNA, the average daily rate for an Airbnb property in New York City is $180, and the average occupancy rate is 66%. With a 20% management fee, a property manager in New York City can expect to earn around $35,000 per year for a one-bedroom apartment and up to $100,000 per year for a four-bedroom house.
Los Angeles
Los Angeles is another popular Airbnb market with over 40,000 listings. According to AirDNA, the average daily rate for an Airbnb property in Los Angeles is $140, and the average occupancy rate is 71%. With a 20% management fee, a property manager in Los Angeles can expect to earn around $26,000 per year for a one-bedroom apartment and up to $70,000 per year for a four-bedroom house.
San Francisco
San Francisco is a high-demand Airbnb market with over 8,000 listings. According to AirDNA, the average daily rate for an Airbnb property in San Francisco is $200, and the average occupancy rate is 73%. With a 20% management fee, a property manager in San Francisco can expect to earn around $43,000 per year for a one-bedroom apartment and up to $120,000 per year for a four-bedroom house.
Miami
Miami is a popular Airbnb market with over 20,000 listings. According to AirDNA, the average daily rate for an Airbnb property in Miami is $170, and the average occupancy rate is 63%. With a 20% management fee, a property manager in Miami can expect to earn around $30,000 per year for a one-bedroom apartment and up to $80,000 per year for a four-bedroom house.
Denver
Denver is a growing Airbnb market with over 6,000 listings. According to AirDNA, the average daily rate for an Airbnb property in Denver is $150, and the average occupancy rate is 61%. With a 20% management fee, a property manager in Denver can expect to earn around $22,000 per year for a one-bedroom apartment and up to $60,000 per year for a four-bedroom house.
Important Notes
It’s important to note that the income estimates provided here are just that – estimates. The actual income of an Airbnb property manager can vary widely based on the factors mentioned above as well as other factors like the quality of the property, the level of competition in the market, and the property manager’s level of experience and expertise.
In addition, it’s important for property managers to factor in expenses like cleaning fees, maintenance costs, and taxes when calculating their income. These expenses can significantly impact their earnings and should not be overlooked.
People Also Ask
How much do Airbnb hosts make?
The income of an Airbnb host also varies widely based on factors like location, property size, occupancy rate, and seasonality. According to a survey by AirDNA, the average income for an Airbnb host in the United States is $924 per month, or $11,088 per year. However, this number can range from a few hundred dollars to over $1 million per year depending on the factors mentioned above.
Can you make a living as an Airbnb property manager?
Yes, it is possible to make a living as an Airbnb property manager. However, as we’ve discussed, the income of an Airbnb property manager can vary widely based on factors like location, property size, occupancy rate, and management fees. It’s important for property managers to carefully consider these factors and calculate their expenses to ensure that they can earn a sustainable income.
Do Airbnb property managers need a license?
The licensing requirements for Airbnb property managers vary by location. In some cities, property managers are required to have a real estate license or a business license, while in others, no license is required. It’s important for property managers to research the licensing requirements in their area and ensure that they are in compliance with local laws and regulations.
