I am self-managing a Cincinnati condo on Airbnb and trying to figure out where the actual time goes before I decide whether to keep doing it myself
Bought a two-bed in Northside in late 2023, listed it in January 2024. Average nightly rate has been $112, occupancy running around 68 percent, so roughly $2,300 gross most months. That feels decent until I add up what I am actually doing to get there. Guest messages alone take maybe 45 minutes a day when a booking is active, more when something goes sideways, and something goes sideways more than I expected. A broken towel bar at 10pm, a guest who cannot work the keypad, a cleaner who cancels two hours before checkout. I am not complaining, I am trying to cost it out. My cleaner charges $85 a turn and I am averaging about 9 turns a month, so $765 there. Supplies run me another $60 to $80. I am doing my own pricing, which means I am in PriceLabs every few days adjusting minimums and looking at comp sets, and that takes real time even when nothing needs changing. Total hours I can actually track: somewhere between 25 and 35 a month. At my normal consulting rate that is a number that makes this look like a bad trade. I know that is not quite the right comparison because I am not turning down consulting work to do this, but it is not zero either. What I have not figured out is which of these tasks a co-host would actually absorb versus which ones still land on me as the owner. Guest emergencies at 10pm, for instance. Does that call come to me or to them? Pricing authority is the other one. I adjust rates about twice a week and I do not know if I hand that over entirely or if I am still the one approving every move.