Short-term rental property managers are a powerful bunch, capable of influencing how guests perceive STRs at large. This is why we created a dashboard that makes it easy to understand who these property managers are, where they operate, and how they’re rated by guests.

Best Airbnb Property Management Companies in the US for 2023

The Best Airbnb Property Management Companies in the US

When we think of short-term rentals (STRs), we usually picture mom-and-pop hosts. You can probably see it now: an otherwise ordinary couple that rents a hip property in a destination market.

In the U.S., professional property managers are currently responsible for 25.6% of available STR listings. They also generate 30% of the industry’s total revenue*.

AirDNA tracks more than 4,500 American hosts, investors, and property managers who oversee 21-plus listings—in other words, a proper portfolio. This group mostly consists of managers and management groups (sometimes called vacation rental managers) that supervise listings for independent owners. This can mean cleaning, adjusting rates, communicating with guests, and lots of other day-to-day tasks.

Needless to say, property managers are a powerful bunch. And they can dramatically influence how guests perceive STRs at large. This is why we created a dashboard that makes it easy to understand who these property managers are, where they operate, and how they’re rated by guests. 

In ranking the top property managers around the country, we also want to highlight those who have found a way to maintain guest satisfaction while still scaling their businesses.

* To be clear, property managers are responsible for 30% of revenue across the entire industry, not only the revenues earned by Airbnb. A significant portion of larger property managers’ revenue comes through either direct bookings or other channels like Vrbo and Booking.com.

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Over the last year, individual hosts received an average review score of 4.78 out of 5, while professional hosts (21-plus listings) received an average score of 4.58.

While professional managers received an average rating that was 4.4% lower than individual hosts, it is more of a trend than a rule. As you’ll see throughout the dashboard, hundreds of high-volume managers earn strong ratings from guests. (In December 2022, we shared more of our research on Airbnb guest review trends.)

Professional managers grew their market share from 22.4% of available listings in January 2018 to 27% of listings in March 2020 (when pandemic-related lockdowns prompted a dip in growth). As restrictions eased in mid-to-late 2020, professional managers were more eager to reactivate listings, and there was another spike in market share. This was followed by declining market share in mid-2021, as smaller-scale hosts began re-entering the market in force. 

While market share by professional managers was on an upward trend at the beginning of 2022, it has since been on the decline. This can be attributed to stronger listing growth outside of coastal and mountain destination markets where property managers tend to have a larger presence. In coastal and mountain destination markets where there are more vacation homes, professional managers oversee over 30% of listings. Comparatively, their market share of listings in large, mid-sized, and rural cities is much smaller. 

For property managers, year-over-year growth in available listings was strongest among mid-sized and rural cities (27.2% and 31.8%, respectively) and weakest among coastal and mountain destinations (11% and 13.9%, respectively). More significant listing growth outside of the traditional destination markets (where professional managers have the largest foothold) led to the shrinking growth of professionally managed listings we saw in the past year.

YOY listing growth was 19.6% for hosts with one unit, 19% for hosts with 2-5 units, 17% for hosts with 6-20 units, and only 6% for professional hosts with 21-plus units. 

To get an idea of markets where professional managers have the strongest foothold, check out the top 15 largest markets for professionally managed properties. Steamboat Springs, Colorado, tops the chart with 68.4% of its available vacation rentals being professionally managed. 

What exactly do the best Airbnb property management companies do?

If you're trying to decide which property manager to contact about overseeing your vacation rental, it's helpful to first understand exactly what an Airbnb manager actually does. These are the most common services provided:

Marketing your property: Ideally, your property manager will help boost your listing’s exposure. Services here can include listing your property on multiple sites, taking professional photography, and managing all descriptions and copy.

Optimized pricing: Many property managers manage your listing’s dynamic pricing strategy. They’ll be well-equipped with data-driven resources (often from AirDNA) to determine how to price your property competitively.

Guest communication: Communicating with guests is a big reason hosts decide to outsource to a property manager. Many Airbnb management companies will take responsibility for communicating with guests from the moment they make a reservation to their post-stay review.

Maintenance, repairs, and cleaning: Keeping your property clean and functioning is a must-do for managers. When something breaks or needs immediate assistance, they’ll be responsible for finding a solution.

Payments and financial reporting: When you receive reservations from multiple platforms, managing payments can be a hassle. Plus, it can be tough to get a clear snapshot of your rental’s performance. For this reason, many property managers will own your payment processing and offer reports on the performance of your rental.

Local expertise: If you opt for a boots-on-the-ground property manager, they’ll offer tons of knowledge for guests about the local area. They’ll also be more attuned to things like seasonality and peak booking times.

Keep in mind that there's also two main categories of managers: full-service managers and distribution managers.

If you want to truly “set it and forget it” when it comes to your vacation rental while maximizing your reach, you’ll need a full-service property manager. These property managers will take care of everything involved with your rental—from cleaning to marketing and maintenance—to ensure that your place gets booked without you having to lift a finger.

The second category of vacation rental management companies—tech and distribution managers—includes those that offer flexible contracts and help primarily in the distribution, marketing, and communication components of your rental. They’ll help get your property booked by listing it on multiple sites and provide 24/7 customer service for your guests. As virtual managers, their fees are lower than the local managers listed below, but you’ll be in charge of handling cleaning, maintenance, and anything on-site.

If you’re looking to find more about top property managers in your area, our STR data tool features an accurate and easy-to-use widget that provides a real-time snapshot of the largest property managers near you. 

AirDNA's 2023 Short-Term Rental Mid-Year Outlook

Discover the best Airbnb property management companies in the U.S. Use our interactive map to find a go-to property manager for your short-term vacation rentals.

Best Airbnb Property Management Companies in the US for 2023

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