Professional managers run 1 in 4 U.S. short-term rentals

Key Takeaways

Professional managers now oversee roughly a quarter of U.S. short-term rental listings, according to a new industry analysis
Management costs vary widely, with full-service operators typically charging 15 to 30 percent of rental revenue
Large management portfolios averaged lower guest ratings than single-property hosts in the analysis

A growing number of short-term rental owners are handing over their keys to property managers.

Professional management companies now oversee roughly a quarter of U.S. short-term rental listings, according to new data shared by Gigwise. The share is still growing as owners choose between managing properties themselves, using software for part of the job, or turning nearly everything over to a full-service operator.

For many short-term rental owners, the decision to hand things over usually comes down to cost.

Is it worth losing $10,000 in revenue annually to not have the headache of scheduling linens, cleanings, and dealing with guest calls, many of which are simple user errors like – “I can’t turn on the television.” Or “Why doesn’t my door code work?”

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The Gigwise analysis found that software-led management can cost less than 4 percent of bookings, while companies offering some management services generally publish rates between 10 and 15 percent. Full-service management typically runs between 15 and 30 percent of rental revenue on average industry-wide.

Many full-service companies don’t publish a standard rate at all.

Instead, owners have to request a quote based on the property, market, and services involved.

That can make two management offers that sound similar look very different once cleaning coordination, maintenance, guest support, marketing and other services are factored in.

So if you’re going to decide to hand over the keys, it’s definitely worth doing your due diligence and shopping around before signing an annual contract.

Managing more short-term rentals can come with growing pains

Price isn’t the only difference showing up as professional management expands.

The Gigwise analysis reports that single-property hosts averaged 4.87 stars, compared with 4.67 stars for companies managing 500 or more short-term rental listings. The biggest differences showed up in cleanliness and communication, two parts of the guest experience that can become harder to keep consistent as portfolios grow.

That doesn’t mean a smaller host will always outperform a professional manager. It does show how quickly the job changes when one property becomes dozens or hundreds of properties spread across a market.

Cleaning has to happen on time. Guest messages still need answers. Maintenance problems don’t care how many other check-ins are happening that afternoon.

Technology is increasingly being used to handle some of that workload. Pricing, guest messaging, scheduling and performance tracking can now be automated or managed from one system, while newer tools are also trying to identify potential revenue opportunities using information hosts already have in their accounts.

Local knowledge is becoming another part of the equation. Short-term rental rules can change from one city to the next, and governments are putting more pressure on hosts and booking platforms to register properties, provide listing information and comply with local restrictions.

For owners considering professional management, the expanding range of options means the decision is no longer simply whether to hire a property manager. It’s how much of the operation they want someone else to run, what they’re willing to pay for it and whether the company can maintain the guest experience as it grows.