Expert Insights from The Airbnb Nomads: How to Scale Your Property Management Business
Managing and scaling a rental business takes the right tools and expert guidance. Tools like Tokeet help hosts streamline operations, automate tasks, and manage properties with ease. Alongside the right tools, expert advice can make a big difference. The Airbnb Nomads Podcast shares valuable insights and strategies to help property managers grow.
Alex and Pooh are the hosts of The Airbnb Nomads Podcast, where they share their journey and expertise in the world of property management and Airbnb consultancy. In this interview, we spoke with Alex, who offered valuable insights based on years of experience helping property managers optimize their operations, grow their portfolios, and overcome common challenges.
Their podcast focuses on providing actionable advice for property managers, especially those juggling multiple properties, to help them scale their businesses efficiently and improve guest experiences.
To hear more from Alex and Pooh, check out The Airbnb Nomads Podcast on Apple Podcasts.
Q: What motivated your transition from the rent-to-rent model to offering Airbnb consultancy services?
Alex:
In the beginning, we started with a few rent-to-rent properties, but we quickly realized how much upfront capital was required. With rent-to-rent, you need to invest a lot of money into properties that you don’t even own—whether it’s for renovations, furnishing, or deposits. The cost adds up quickly, and the standard of properties keeps rising in today’s competitive market.
In the UK, there’s also a rental crisis, with huge demand for residential properties. This makes it harder to find quality properties for corporate lets. Often, the properties available need a lot of work, which increases costs even more. Additionally, there’s always the risk that landlords could exercise a break clause and pull the property at any time, leaving you with sunk costs.
Moving away from rent-to-rent and into a management-style business was a safer, smarter decision. With property management, you can scale your business without needing to invest so much upfront. It’s less risky, as you don’t have to worry about the heavy capital requirements or the uncertainties tied to owning or renting the properties yourself.
Q: What trends or shifts do you see affecting the rent-to-rent model, and how can property managers stay ahead of the curve with Airbnb management?
Alex:
One of the biggest trends affecting the rent-to-rent model is the oversupply in the market. With so many training companies pushing the rent-to-rent strategy, the market has become flooded with people jumping into the space. As a result, there’s a lot of competition, which drives down nightly rates and makes it harder to generate strong profits from this model.
Many newcomers are being sold the idea that they can start with little investment and make a lot of money quickly, but the reality is different. With more people entering the market, property managers need to get smarter and more creative to stay ahead.
One way to do this is by focusing heavily on direct marketing. Instead of relying only on online travel agencies (OTAs) like Airbnb or Booking.com, property managers should build direct relationships with companies, contractors, and corporate clients. These clients often need long-term accommodation and are willing to pay for the convenience, which allows you to charge higher rates while avoiding OTA commissions.
By going direct and cutting down on commission costs, you can boost your profitability and maintain better control over your bookings. To stay competitive, property managers need to be proactive with their marketing, ensuring they’re offering solutions directly to those who need them most.
Q: What were the biggest challenges you faced when starting in co-hosting multiple properties, and how did you overcome them?
Alex:
In the beginning, one of the biggest challenges I faced was trying to do everything myself. When you’re just starting out with two or three properties, you find yourself wearing a lot of hats—handling guest communications, staying on top of cleaning schedules, dealing with clients, and managing finances. It quickly becomes overwhelming because, at that stage, you often haven’t set up any systems or tools to help streamline the workload.
I realized that without proper systems, even managing just a few properties can feel more hectic than managing ten or twenty properties. The key to overcoming this was learning to let go of the idea that I had to do everything myself. As the business grew, I began to focus on systemizing tasks, automating processes, and delegating roles to others.
Using software tools like channel managers and communication platforms was a game-changer. Automating guest communications and bookings allowed me to focus more on the bigger picture rather than getting caught up in the day-to-day tasks. I also hired people to handle specific tasks like guest communication and quality assurance. This helped take the pressure off and allowed me to focus on scaling the business.
The biggest lesson I learned was the importance of trusting the systems and the people around you. By automating and delegating, I was able to grow the business more efficiently without getting bogged down by the smaller details.
Q: What skills or mindset should someone have to succeed as an Airbnb consultant?
Alex:
To succeed as an Airbnb consultant, you need to be comfortable with multitasking. In the beginning, you’re often juggling a lot—handling guest communications, dealing with property owners, managing bookings, and resolving issues with guests. Being able to stay organized and manage multiple tasks at once is key.
You also need to be resilient. In this business, things don’t always go as planned. Guests can be difficult to please, bookings might slow down during certain seasons, or unexpected challenges can arise with properties. It’s important to stay calm and keep a positive attitude when things get tough. Knowing how to deal with stress and push through setbacks is essential.
Additionally, you need to have the mindset of a good manager. As your business grows, it becomes crucial to delegate tasks and trust others to handle certain responsibilities. You can’t do everything yourself, so learning how to manage a team and work efficiently with others is critical to scaling your operations.
Finally, confidence in your skills is important. It’s not always easy, but if you stay focused, stay positive, and keep improving your processes, you’ll find success in this field.
Q: What are the most common mistakes aspiring property managers make when getting started?
Alex:
One of the most common mistakes new property managers make is jumping into deals too quickly without doing enough research. It’s easy to get excited about getting a property under your belt, but that excitement can lead to poor decisions. Some properties might seem like good opportunities on the surface, but if you haven’t done your due diligence—such as analyzing the location, demand, and costs—you could end up with a property that doesn’t perform well.
Another mistake is taking on properties that are better suited as long-term rentals, not short-term vacation rentals. Sometimes, the numbers just don’t add up, and property managers can find themselves in a tough spot trying to make it work. This is why it’s crucial to do a thorough analysis of the property and market before agreeing to take on a deal.
It’s also important to manage expectations with the property owners. Clear communication about what’s realistic in terms of occupancy, revenue, and timelines can save a lot of headaches down the road. Many new property managers say yes to everything too quickly, only to regret it later when they’re unable to meet expectations or make the property profitable.
In short, always do your homework before committing to a property, and don’t be afraid to say no to a deal that doesn’t feel right.
Q: What advice would you give to someone who’s just started managing a couple of properties? And for those managing 10 properties, what strategies do you recommend to help them scale efficiently?
Alex:
For property managers who are just starting out with a couple of properties, my biggest piece of advice is to start learning the systems and processes you’ll need to scale early on. Even if you’re only managing a few properties, get familiar with the tools that will make your life easier, such as channel managers, automation software, and AI tools to optimize listings. The more efficient you become at managing a small portfolio, the smoother it will be when you add more properties.
As for those managing around 10 properties, it’s time to start delegating and bringing in help. One of the most important strategies for scaling efficiently is to work on the business, not in the business. You need to start hiring staff to handle specific tasks, like guest communication, quality control, and bookkeeping. For example, we have someone whose sole job is quality assurance. This person checks each property after cleaning to ensure everything is ready for the next guest. Having someone dedicated to this allows us to focus on growing the business, rather than handling day-to-day operations.
The goal should be to free yourself from the small tasks so you can focus on expanding your portfolio, finding new deals, and building relationships with clients. As your business grows, having the right systems and people in place is crucial for scaling efficiently.
Q: How do you teach property managers to find suitable properties, and what key factors should they consider before committing to co-host?
Alex:
When it comes to finding suitable properties, one of the key strategies I teach is to leverage social media. It’s all about providing value upfront without expecting anything in return. By consistently sharing tips, advice, and insights on platforms like Instagram, Facebook, or LinkedIn, you position yourself as an expert. Over time, property owners who are struggling with their rentals will start to reach out to you because they see you as someone who can help. Building this kind of organic following takes time, but it’s one of the most powerful ways to attract new clients.
Another way to find properties is by identifying poorly managed listings on platforms like Airbnb. If a property has bad photos, poor reviews, or low occupancy rates, it’s often a sign that the owner needs help. Reaching out directly to these owners can open the door to co-hosting opportunities. But even when someone offers you their property, it’s important to do your due diligence.
The most important factor to consider before committing to co-host is whether the property will perform well. This involves analyzing the market demand, competition, and the property’s location. If the numbers don’t add up, or if the owner’s expectations are unrealistic, it’s better to walk away. Managing client expectations is crucial—make sure the owner understands what’s achievable in terms of revenue and occupancy.
At the end of the day, not every deal is a good deal. Be selective, and always ensure that both you and the property owner are on the same page before moving forward.
Q: What role does guest communication play in your strategy, and how do you help property managers streamline it to handle a growing portfolio?
Alex:
Guest communication is one of the most important parts of running a successful short-term rental business. If you’re not proactive in communicating with your guests, it can lead to problems that affect reviews, repeat business, and overall guest satisfaction. We emphasize clear, consistent communication from the moment a guest books until after they check out.
To streamline guest communication, we rely heavily on channel managers like Tokeet. With tools like Tokeet, we can automate much of the communication process—sending out booking confirmations, check-in instructions, and follow-up messages without having to manually handle each step. This automation not only saves time but also ensures that guests receive timely information without any delays.
In addition to automation, we take a more personal approach by creating WhatsApp groups for each booking. This allows us to have direct communication with both the person who made the booking and the guest who will be staying at the property. By doing this, we can quickly resolve any issues, answer questions, and provide personalized service, which leads to better guest experiences.
Proactive communication is key. If a guest has trouble accessing the property or encounters an issue during their stay, it’s important to address it immediately to prevent negative reviews. By using a mix of automation and direct communication, we’re able to handle a growing portfolio while maintaining high levels of guest satisfaction.
Q: How do you advise property managers to price their rentals effectively to maximize revenue while staying competitive?
Alex:
Pricing is one of the most important aspects of maximizing revenue, and it requires constant attention. I always recommend using dynamic pricing tools like Rategenie to keep your rates competitive and up-to-date. These tools automatically adjust your prices based on local demand, occupancy rates, and market trends, which ensures that you’re not leaving money on the table during high-demand periods or overpricing when demand is low.
It’s also essential to keep an eye on what your competitors are charging. Even if your pricing tool suggests a certain rate, you need to stay in line with the local market. If other similar properties in the area are priced lower, potential guests may overlook yours, even if you offer a better experience.
Another key strategy is event-based pricing. Whenever there’s a big event—such as a festival, concert, or conference in your area—you should increase your rates accordingly to capitalize on the higher demand. But at the same time, avoid dropping your prices too low if you still have availability close to the date. There will always be last-minute bookings, and keeping your prices steady can attract guests who waited until the last moment to book.
By using dynamic pricing tools, staying competitive, and adjusting for local events, you can maximize your revenue while keeping your properties fully booked.
Q: What tools or software do you recommend for rent-to-rent property managers to automate and simplify day-to-day operations?
Alex:
To effectively manage a rent-to-rent business, automation is key. The first tool I always recommend is a reliable channel manager like Tokeet. Tokeet helps you manage all your listings, calendars, guest communications, and reports in one place. It saves a lot of time by automating many of the repetitive tasks, like updating calendars, sending automated messages to guests, and ensuring bookings are synchronized across multiple platforms.
For pricing, using a dynamic pricing tool like Rategenie is crucial. It allows you to adjust your rates based on demand, local events, and market conditions. With Rategenie, you don’t have to manually adjust pricing all the time, which ensures you’re always competitive without constant monitoring.
Next, having good bookkeeping software is essential to keep track of your financials. There are plenty of options out there, and choosing one that integrates well with your other tools can make managing expenses, income, and taxes a lot easier.
For cleaning management, there are several cleaning software tools that automatically notify your cleaners when a booking is made. This way, your team knows exactly when to schedule cleanings without you having to manually intervene. These tools can even keep track of tasks like restocking supplies or changing linens.
Finally, AI tools can be incredibly useful for writing listings. You can use AI to create optimized, engaging property descriptions, saving time and ensuring that your listings are visually appealing and well-written. This not only makes your listings stand out but also improves their ranking on booking platforms.
By integrating these tools into your workflow, you can automate a significant portion of your day-to-day operations, freeing up time to focus on growing your business.
Q: What are your go-to marketing strategies for driving consistent bookings without relying on third-party platforms like Airbnb?
Alex:
While third-party platforms like Airbnb can be helpful, it’s important not to rely solely on them for bookings. One of my key strategies is direct outreach to companies that need long-term accommodations, such as construction companies or corporate clients. By building relationships directly with these businesses, you can offer your properties for extended stays and negotiate better rates without the commissions that platforms like Airbnb charge.
Another effective strategy is cold calling. Reaching out to companies and asking if they need accommodations for their staff is a proactive way to secure bookings, especially during slower seasons. Once you’ve established a relationship, you can offer ongoing accommodations for their employees, which can provide a steady stream of bookings.
Email marketing is another powerful tool, especially when targeting previous clients. Guests who have stayed with you before are already familiar with your properties, and following up with them through email to offer special deals or discounts for their next stay can be a great way to encourage repeat business. Many property managers overlook this simple strategy, but it can be one of the most effective ways to fill vacancies.
By focusing on direct outreach, cold calling, and email marketing, you can build a reliable booking strategy that doesn’t depend on third-party platforms.
Q: For those who want to scale their rental property portfolios, what are the top three pieces of advice you’d offer?
Alex:
The first piece of advice I always give is to take your time with deal analysis. It’s tempting to jump on new opportunities quickly, but you need to ensure that each deal makes sense financially. That means carefully analyzing the property’s location, demand, and potential revenue. You need to make sure that the numbers add up and that the property will perform well in the long run. Don’t rush into deals that aren’t profitable just to grow quickly—it’s better to be selective and build a portfolio that’s sustainable.
Second, build strong relationships with landlords and property owners. These relationships are key to your success in scaling. If landlords trust you and are happy with the way you manage their properties, they’re more likely to offer you additional properties or recommend you to others. Strong relationships can also lead to more flexible terms and better long-term partnerships, which are crucial as you grow your business.
Finally, find a mentor. Having a mentor who has already achieved what you’re aiming for can be a game-changer. A mentor can provide guidance, hold you accountable, and help you avoid the mistakes they made along the way. This isn’t just about managing properties—it’s also about mindset. A mentor can keep you focused, motivated, and on track as you scale your portfolio.
By focusing on thorough deal analysis, building solid relationships, and having a mentor to guide you, you’ll be in a much stronger position to grow your rental portfolio successfully.
Key Takeaways
- Shift from Rent-to-Rent to Management: Transitioning to property management is safer and requires less upfront capital compared to rent-to-rent.
- Direct Marketing Over OTA Reliance: Build direct relationships with corporate clients to reduce dependency on OTAs and increase profitability.
- Importance of Systems and Delegation: Automate tasks and delegate roles to efficiently manage multiple properties and scale your business.
- Smart Pricing Strategies: Use dynamic pricing tools and adjust rates based on events and demand to maximize revenue.
- Proactive Guest Communication: Automate messages and use personal communication to enhance guest experiences and satisfaction.
- Do Thorough Deal Analysis: Carefully evaluate properties to avoid bad deals and ensure long-term profitability.
- Mentorship and Relationship Building: Strong relationships with landlords and having a mentor are essential for growth and long-term success.
Alex and Pooh also offer a high-level mentorship program for property managers looking to grow their portfolios and optimize their operations. If you’re ready to scale your business, you can book a personalized call with them here: airbnbconsultant.co.
For more in-depth discussions, tips, and expert advice, be sure to check out The Airbnb Nomads Podcast, where Alex and Pooh dive deeper into property management, scaling strategies, and much more.
