What Vacation Rental Managers Might Expect from Airbnb’s Winter 2042 Release: The Co-Host Network
In Airbnb’s Winter 2024 release, we at Rental Scale-Up predict the launch of the Co-Host Network, an updated version of the “Experienced Co-Host Program.” This marketplace would connect hosts with vetted co-hosts who can assist with various management tasks, from guest communication to property upkeep and check-ins.
Here’s how it might work:
How the Co-Host Network Could Function
- Co-Host Profiles: Hosts would browse a marketplace where co-hosts create profiles detailing their experience, services, and guest reviews. This allows hosts to find a co-host based on location and service needs.
- Service Categories: Co-hosts would likely be able to offer services in up to nine categories, including listing creation, photography, cleaning, guest communication, pricing management, and check-ins/outs. Hosts could choose whether they need help with just one service or a full-service management package.
- Payment Models: Co-hosts might be compensated in different ways—by sharing cleaning fees, taking a percentage of bookings, or receiving a fixed rate per booking. Payments would be handled through Airbnb’s platform, simplifying the process for hosts.
- Technology Integration: Powered by Luckey’s technology, Airbnb would likely offer streamlined tools for managing guest communication, booking calendars, and payouts, ensuring a seamless experience for both hosts and co-hosts.
What Makes This Release Different?
Previously, Airbnb’s co-hosting feature was informal, where hosts added friends or family to help manage their properties. The new Co-Host Network would formalize this, introducing a professional structure with vetted co-hosts, standard service offerings, and built-in management tools. This would help ensure a more consistent experience for hosts and guests alike.
What Does This Mean for Property Managers?
For property managers, the Co-Host Network could provide both opportunities and challenges:
- Opportunities: The platform could help you expand your client base by connecting with hosts looking for professional management services.
- Challenges: It also means more competition, as smaller, local co-hosts would have easier access to the market, potentially offering competitive prices for similar services.
As Airbnb’s Chief Business Officer, Dave Stephenson, emphasized in a recent interview with Public, “These co-hosts are some of our best hosts… they have a 4.86 rating, they’ve been on Airbnb for more than a year, and they have a low cancellation rate.” This level of vetting ensures a consistent experience for both hosts and guests.
However, when PhocusWire asked if professional property managers could become co-hosts, Airbnb’s global head of policy and communications Jay Carney clarified that only individuals—not property management companies—can join the Co-Host Network, although these individuals may work at a property management company.
Powell explained that Airbnb’s goal is to ensure “incredibly high standards,” noting that “large property management companies don’t often clear that bar.” While individual hosts within property management firms might qualify, the average rating for larger property management companies on Airbnb is 4.62, below the threshold for the co-host marketplace.
How to Prepare
To make the most of this new platform, property managers should:
- Build Strong Profiles: Highlight your experience, services, and guest reviews to attract hosts.
- Differentiate Your Services: Focus on providing value-added services that set you apart from smaller co-hosts.
- Adapt to New Tools: Embrace Airbnb’s tools to streamline your operations and offer a seamless experience for hosts.
If Airbnb’s Winter 2024 release follows this predicted path, the Co-Host Network could significantly impact how vacation rental managers operate. The key to success will be adaptability and leveraging this new platform to grow your business.