Whether you’re just getting started or looking to fine-tune your process, short-term rental management is where hosting becomes a real business. And just like any business, the difference between "just getting by" and truly thriving comes down to having smart systems, great service, and a solid strategy.
I’ve learned this firsthand. Running a short-term rental (STR) isn’t just about creating a listing and handing over the keys. It’s about managing expectations, operations, and people, all in a fast-paced and competitive space. In this guide, I’ll walk you through what I’ve learned about how to run a profitable STR, from setup and pricing to automation and guest experience.
Let’s dive in.
What Is Short-Term Rental Management?
Short-term rental management is the process of running a property that’s listed on platforms like Airbnb or Vrbo for stays shorter than 30 days. It involves handling everything from guest messaging and pricing to cleaning, maintenance, reviews, and local compliance.
You can do it all yourself or bring on a co-host or property manager to help out (check out our services here).
1. Setting Up for Success: Property Preparation
Before you go live, it’s essential to get your property ready from the ground up. This means understanding your income potential, setting up your space for your target guest, and installing the right tools to make management easier.
💰 Start With Revenue Projections
First things first, you need to know how much money your property can make. Accurate revenue projections are key to deciding whether the investment makes sense and how much you should spend on setup.
Here’s what to do:
- Use tools like AirDNA, Mashvisor, or Rabbu to get an idea of monthly and yearly income for similar properties in your area.
- Check occupancy rates, average nightly prices, and seasonal trends.
- Factor in your ongoing expenses, like utilities, cleaning, supplies, taxes, and platform fees.
You want to go into this with clear expectations. A lot of new hosts skip this step and end up surprised when they’re not hitting their profit goals.
🔍 Deep Research Makes All the Difference
Once you’ve got your income projections, research other high-performing listings nearby. Look at:
- What amenities they offer
- Their design choices
- How they structure their guest experience
From there, create a plan to set your property apart. Some must-haves include:
- All-white towels and comforters for that clean, hotel feel and easier laundry management
- A coffee station with a Keurig or Nespresso
- High-speed Wi-Fi and a desk setup if you’re targeting remote workers
- Streaming options like Netflix or Disney+
Your goal is to create a space that competes with the best listings in your area, not just one that “gets by.”
🧠 Must-Have Smart Devices
Investing in a few smart gadgets will save you time and give your guests a better experience. Here's what I personally recommend:
- Smart Lock: Use the Schlage Encode. It connects directly to Wi-Fi and lets you create codes for each guest remotely. No hubs needed.
- Video Doorbell: A Ring Doorbell helps you keep an eye on who’s coming and going. Be sure to mention any exterior cameras in your listing for transparency.
- Thermostat: The Google Nest Thermostat helps you save on energy costs while still letting guests adjust the temperature.
- Noise Monitoring: If your property is on the larger side, get a NoiseAware device. It alerts you to excessive noise without invading privacy, which helps you catch parties before they become a problem.
2. STR Pricing Strategy: How to Set Profitable Rates
Pricing can make or break your profitability. Thankfully, there are tools that help you stay competitive without needing to constantly tweak things yourself.
📊 Use Dynamic Pricing Tools
I highly recommend using PriceLabs or Wheelhouse. These tools adjust your rates based on demand, season, local events, and other market factors. Hosts who use dynamic pricing often earn 10 to 40 percent more than those who set a fixed rate.
You can also set rules to protect your bottom line, like price minimums, discounts for longer stays, and last-minute strategies.
⚠️ Quick tip: Avoid setting a 1-night minimum. Guests booking for one night tend to be higher risk, more likely to break house rules, and less respectful of your property. Stick with a 2- or 3-night minimum to attract more thoughtful guests.
💡 Study the Competition
Spend time looking at listings similar to yours in your neighborhood. What do Superhosts with great reviews charge? How do they price weekends versus weekdays? What extras do they offer that you might be missing?
📉 Set a Floor and Ceiling
You don’t want to rent too low just to fill nights, and you don’t want to price yourself out of peak season either. Use your pricing tool to set a bottom rate that keeps your margins intact, and a top rate that lets you take advantage of high-demand periods.
3. Automating Operations: Tools That Make Hosting Easier
Once your listing is live, your next job is to run it efficiently. Automation helps you stay on top of things without being glued to your phone.
Here’s a tech stack that works:
- Guest Messaging = Hospitable, Hostaway
- Cleaning Coordination = Turno (formerly TurnoverBnB)
- Pricing = PriceLabs, Wheelhouse
- Calendar & Booking Sync = Lodgify, Tokeet
- Reviews & Follow-ups = Smartbnb
✅ Why Turno Is a Game-Changer
Turno does more than just send cleaning reminders. You can create custom checklists that cleaners must follow, complete with photo verification. This keeps your quality consistent no matter who’s cleaning.
You should also work with cleaners who can:
- Check for damage
- Let you know if anything is missing
- Track inventory for things like toilet paper, soap, or linens
Cleaners are your first line of defense in keeping your listing five-star ready. Make them part of your team, not just a task on your calendar.
4. Guest Communication: Making a Great Impression
The way you communicate with guests can completely shape their experience. Be quick, clear, and kind—especially when something goes wrong.
📝 Before the Stay
Make sure you respond quickly to booking inquiries and messages. Automated responses are fine for speed, but always personalize when needed. Airbnb ranks you higher if you respond fast.
🧾 Smooth Check-In Instructions
Send clear check-in instructions the day before arrival. Include:
- The full address
- Parking info
- Wi-Fi password
- Entry code with photos of the smart lock
The easier you make it for guests to get in, the better the first impression.
🎁 Add a Personal Touch
A small welcome gift or handwritten note can really stand out. Guests appreciate thoughtful gestures and are more likely to leave a glowing review.
🙋 Be Available
Let guests know you're available if something goes wrong. Even if you can’t solve the problem right away, acknowledging it quickly builds trust.
⭐ Ask for the Review
After their stay, thank them and kindly ask for a 5-star review if they were happy. Most guests will leave one—it just takes a little nudge.
5. Cleaning and Maintenance: Keep It Spotless
A single complaint about cleanliness can seriously hurt your listing. That’s why it’s so important to set clear standards and keep everything in top shape.
🧼 Cleaning Standards
Every turnover should include:
- Fresh linens and towels
- Sanitized surfaces and floors
- Restocked supplies
- Trash removal
- Reset decor, fluffed pillows, and remade beds
Using Turno’s photo checklist ensures nothing gets missed.
🔁 Regular Deep Cleans
Even if your property is always booked, schedule a deep clean every month or two. This should include things like steam-cleaning rugs, washing duvet covers, and scrubbing areas guests don’t normally see.
🛠️ Stay on Top of Repairs
Fix small problems before they become big ones. Whether it's a broken handle or a loose cabinet door, guests will notice - and they won’t hesitate to mention it in a review.
6. Marketing Your STR: Let Photos Do the Selling
You don’t need to be a marketing expert to succeed, but you do need great photos.
📸 Hire a Pro Photographer
Airbnb’s algorithm favors listings with high-quality photos. If your pictures aren’t professional, your visibility and booking rate will suffer, plain and simple.
Make sure your images show:
- Bright, clean rooms with natural light
- Unique features like patios, game rooms, or local art
- All major amenities
Spend a little here, and it pays off with better visibility and more bookings.
📝 Write to Attract
Your title and description should highlight the guest experience, not just facts. Instead of “1BR Apartment Downtown,” try “Modern 1BR Near Coffee Shops, Fast Wi-Fi, Free Parking.”
Think about what kind of traveler you're trying to attract, and speak their language.
7. Stay Compliant With Local Laws and Taxes
Every city has its own short-term rental rules. If you skip this step, you could get fined or even delisted.
- Permits: Many cities require STR permits or business licenses.
- Taxes: Airbnb collects occupancy tax in some places, but you might need to handle it in others.
- Zoning: Some areas limit or ban STRs altogether, so always check your local ordinances.
If you're unsure, talk to a local real estate attorney or airbnb management company to help you navigate the rules. It’s worth it.
8. Want to Skip the Work? Invest Passively
Not everyone wants to deal with the daily work of running a rental—and that’s okay. If you’re interested in the returns STRs can offer but don’t want to manage a property, you can still get involved.
💼 Invest in a STR Fund
There are real estate funds that specialize in short-term rentals. By investing in one of these, you can get exposure to STR income without ever hosting a guest or coordinating a cleaning.
- Earn passive income
- Diversify your investments
- Skip the day-to-day management headaches
This is a smart option if you’re busy, live in a market that doesn’t support STRs, or just prefer hands-off investing.
Final Thoughts: Run Your STR Like a Business
Hosting a short-term rental is part real estate, part hospitality, and part operations. When you get all three right, it’s incredibly rewarding - both financially and personally.
Start with one listing, focus on the guest experience, and build systems that keep things running smoothly. Whether you manage it yourself or invest passively, there’s a way to make STRs work for you.
Need help? Check out our blog for more resources or take a look at our management services. We’re here to help you succeed.