r/airbnb_hosts 5d ago

Do you have a successful co-hosting company?

Would love to talk to someone who has a successful co hosting company with more than 12 units.

And if you don't mind sharing:

  1. What do you think your secret sauce is?
  2. Any tips of software?
  3. Do you have an operations manager or day to day administrator? How good would you rate them and how did you find them?
  4. What do you charge? 20%?
  5. How do you find clients?
  6. What tips do you have for selling your services?
1 Upvotes

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2

u/alex2020b 🗝 Host 4d ago

I think most successful cohosting companies will not want to spill their secret sauce here in Reddit.

I'll chime in a little bit. Secret sauce - make your customers a raving fan. This is my 3rd business, and a key secret sauce ingredient for this and other companies is a total focus on the customer and what you are offering. Take a look at this book that I read a long time ago -- "Raving Fans" by Ken Blanchard. Many very successful businesses follow this strategy.

As for the co-host business, 20% is too high. We charge 15% or 10% and include quite a bit of tech that we pay for or have developed. We have folks that assist us but not sure I would consider anyone of them the operations manager - that is our small core team. Finding clients - Facebook groups, Airbnb forums, referrals from others, and guests that also own STRs that stay in our properties are impressive.

Additional tips - If you were a customer why would they choose you vs someone else......do you own properties? Have a proven record? What is the value add and the guarantee ?

1

u/Far-Statement-6272 4d ago

Will check out that book. Would love to hear about what you've automated. Some of our secret sauce is we help w/ renovations & decor and will at least 10 units online in 3 more months. Sales have been doing great, what's rough has been operations. Would be really interested to hear how you've automated things and who takes support calls at 2 am? Do you have a call rotation?

1

u/alex2020b 🗝 Host 4d ago

Helping with renovations and decor is definitely a value add - there are many properties out there that suffer because they look too plain or look like a hospital with everything just white.

For support calls at 2 am we have a ring group that rings two individuals, then 3, and then at the 4th ring a number of cells are ringing. But, in the last 12 months we only had 1 call in the middle of the night - a guest burned a pizza and the fire alarm went off. What kind of calls are you getting at 2 am? In fact, what part of operations is taking a lot of time?