Short-term rentals are a part of the real estate market that has evolved rapidly in recent years. What simply meant casually renting out a spare bedroom or simply handing over the keys of a secondary home, arranging cleaning and casually answering guest questions has grown into a multi-million-dollar industry driven by professionalisation and technology

The duties of a STR property manager go beyond simply taking care of an apartment. A STR property manager manages everything relating to the apartment: upgrading the property to meet market standards, listing the property on various platforms like Airbnb, Vrbo and Booking.com, handling check-ins and check-outs, coordinating cleaning and maintenance, and providing customer service to guests. In addition, the STR property manager ensures that they remain in business by developing strategies to improve occupancy and rental income.

Let's dive in and take a closer look at what the STR property manager does today.

1. Market Listing Optimisation

One important job of the STR property manager is to list the apartments on various platforms. A lot of work goes into this;

Professional photography: visually appealing pictures of the apartment need to be taken to showcase it to potential clients. Most often, the apartment will need an upgrade (furniture, bedding, decor, home appliances, etc) to meet hotel standards.

In order to maintain high occupancy rates, property managers must list the property across multiple travel channels. These platforms cannot be managed manually because it creates risk of double-booking; therefore, managers use a central Channel to sync calendars across platforms in real time.

Having and maintaining a 5-Star rating in the STR industry cannot be overemphasised, and it is the duty of the manager to do so. Ensuring high-quality cleaning, great customer service and communication, and apt problem-solving skills all go to get a 5-star rating.

2. Pricing and Revenue Optimisation

The most important job of the property manager is to generate revenue. This may sound simple, as one may think it is a straightforward process, but it is quite complex. So many factors influence the price of an apartment for STR. It ranges from location, property size, nearby attractions and malls, events in the city, and seasons. So unlike long-term leases with fixed prices, STR prices fluctuate

STR managers borrow from the hotel industry by using specialised dynamic pricing software such as PriceLabs, Wheelhouse, and Beyond. This software adjusts rates automatically based on real-time market data.

3. Logistics and Quality Control

Unlike long-term leases, where the logistics and quality control happen occasionally, in short-term rentals, logistics and quality control happen very frequently; sometimes up to three times in a week. Let’s say a guest stays for a night, the next guest stays for 2 nights, then the next guest stays for two nights. This means that the property has to be cleaned three times so that it can be ready for each made ready for the next guest. The time window for check-in and check-out is usually between 11 am and 4 pm.

It is the responsibility of the STR property manager to ensure that hotel-grade cleaning and restocking of essential supplies (toiletries, coffee supplies, paper products) and damage control are done before the next guest arrives. Managers usually hire professional cleaners to keep the property clean.

4. Customer Relationship Management

Guest experience is what directly influences ratings, and so many factors make up a great guest experience. Making sure UI(user interface) of the booking platform is user-friendly, sending helpful and clear pre-arrival information and instructions on parking guides and house rules. Providing guests with guidebooks detailing house operations such as Wi-Fi, thermostat, hot tub and sauna instructions. Professionally responding to guest questions during their stay and reviews when they are gone.

5. Legal Compliance

Ensuring compliance with the law is one of the most important responsibilities of a short-term rental (STR) property manager. This protects property owners, guests, and the property management business. The STR property manager must follow taxation rules, data protection, and health and safety standards applicable to them. Compliance with the law is a demonstration of professionalism and builds trust, especially among future property owners who want to put up their property as STRs. Guests are also at peace when they know they are staying in accommodation that meets safety standards and operates legally.

Non-compliance, on the other hand, can result in fines, legal actions, suspension of licences and ultimately removal of listings from booking platforms. Legal compliance is therefore not just about avoiding penalties; it's about protecting the reputation of the manager, providing a safe and reliable guest experience and, most importantly, building a sustainable business.

Summary

A short-term rental property manager takes a residential real estate property and converts it into a hospitality business. The manager takes on the administrative burdens and cleaning logistics, and uses modern technology to facilitate and optimise listing, pricing and communication for better profitability. Though STR property managers don't necessarily do every task themselves, they make sure everything works together smoothly.

By Nicolette Che

What Does a Short-Term Rental Property Manager Actually Do?