5 Tips For Choosing Property Management (ft. Blackbird Hospitality)

5 Tips For Choosing Property Management (ft. Blackbird Hospitality)

About Blackbird Hospitality

Federico Zimerman started hosting in 2017 in his home country of Argentina, advertising a spare bedroom in his home. That side gig turned into a full-scale management company in the United States, which he later sold to his partner to start a second company called Blackbird Hospitality Management, with a presence in 16 different states.

Federico has handled thousands of stays, with over $5 million in booking value, consistently achieving 5-star reviews and positioning his properties to be top performers in their markets.

Bringing his 10 years of experience in the airline industry, where he traveled over one million miles and visited over 60 countries, Federico has personally experienced the best and worst of hospitality. This experience is reflected in the services he provides.

Blackbird Hospitality’s mission is to provide peace of mind to hosts and a 5-star stay to all of their guests. If this resonates with you, you can find more at www.blackbirdhm.com or follow Federico @strguide on social media.

 

We’ve Teamed up With Blackbird Hospitality For a Special PWD Academy Lesson on How to Choose a Property Management Company!

According to Federico, there is a huge bridge between acquiring a property and running the day-to-day operations. Put simply, “They are two different businesses”Being a host requires a diverse set of skills and the ability to wear many hats. You need empathy and high emotional intelligence to deal with guests, especially those with "vacation brain syndrome" (forgetting things, asking simple questions, and experiencing stress). These guests often have high expectations for their trip and bear the responsibility of ensuring their group's satisfaction, especially if they have convinced their group to book your property over other options. The stakes are high! 

Moreover, being a host requires extensive knowledge. There’s so much you don’t know you need to know—compliance, revenue management, property maintenance, dealing with OTAs (online travel agencies), maximizing their tools for your property to show higher in search results, and complying with their terms of service to avoid being banned for simple mistakes, like not properly disclosing a camera.  

For these reasons, many investors choose to work with a property manager or co-host who can take these tasks off their plate, allowing them to focus on acquiring more properties.

 

5 Things to Keep in Mind When Choosing a Property Management or Co-Host Company: 

1. Portfolio

Take a look at the properties the company is managing. Pay attention to the reviews and types of listings. 

Ask Yourself:

  • Does your property fit their current portfolio? 
  • Are guests praising their communication and the property's condition?

    2. Revenue Management

    You’ll pay somewhere between 15% to 25% for property management, depending on the market you’re in, and what the company offers. Ensure there is an ROI, not only in the time you’ll gain back but also in increased revenue opportunities. 

    When interviewing management companies, ask about:
    • Pricing strategies
    • How they plan to fill the calendar
    • What types of promotions or discounts they run
    • How they plan for events and seasonal changes
    • Additionally, ask how the company will ensure your property ranks as high as possible in search results!

      3. Property Maintenance & Hospitality

      This industry involves both a service and a product. The service is the hospitality, and the product is the property itself. When guests book, they have an expectation of quality based on the listing photos.

      The formula for quality can be stated as Quality = Expectations - Delivery.

      If the expectations are high and the delivery is low due to poor communication, maintenance, or cleaning issues, the outcome is negative. People don’t like being caught off guard. If the expectations are high and the delivery is higher—thanks to cleanliness, everything working properly, prompt communication for ongoing issues, or quick resolutions—the outcome is positive. People appreciate pleasant surprises.

      Ask: 

      • What hospitality touches does your potential property manager offer?

       

      Blackbird Hospitality provides a hospitality package that includes water on every bedside table, a tray with chocolate mints on the beds, sanitized strip bands in toilets, and strategic lighting for late arrivals. They also send specific messages during the guest journey, including quick reminders of key access codes and arrival instructions sent hours before check-in, along with other pleasant surprises that aren’t advertised but create a memorable experience.

       

      Blackbird Hospitality Currently Serves These Locations in the US:

       

      4. Presence in the Area

      Some property managers are local to your market, while others manage remotely. There are pros and cons to each.

      Local property managers often have relationships with local vendors, and a strong presence can mean they are a point of contact for returning guests. However, if they dominate the market, their quality may suffer due to a lack of competition.

      Blackbird Hospitality manages properties remotely, and they consistently outperform many local property managers. They develop relationships with local vendors over the phone, visit properties once a year, and still have a boots-on-the-ground team invested in the property's success. Distance is not a determining factor, Federico’s opinion, if the right systems and processes are in place.

       

      5. Growth Opportunities

      Federico strongly believes in building long-term relationships with property owners, where goals are aligned regarding what success looks like for the investment property and what new opportunities may arise in the future. 

      Remember: The interview process goes both ways!

       

      See What Guests Have to Say About Blackbird Hospitality Management: 

       

      Conclusion

      When choosing a property management company or co-host, ensure you ask about their systems, processes, and how they handle different situations that may arise. At the end of the day, ensure you are a perfect fit for each other and your goals align.

      Having a barrier between guest feedback and your emotional attachment to the property is also a significant advantage!

       

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