How to Get Started as a Short-Term Rental Property Manager

Short-term property management is booming and shows no signs of slowing down. According to the US Bureau of Labor Statistics, property-management jobs are projected to grow at a faster rate than most other industries through 2032. 

More property owners than ever are looking for reliable managers to handle their vacation rentals and take the stress off their hands — creating a massive opportunity for those ready to step in and do it right.

But short-term property management isn’t just about listing a place on Airbnb and hoping for good reviews. It’s about managing guest communication, keeping the property in top shape, setting smart pricing strategies and delivering an experience that keeps guests coming back. 

If you’re ready to become a short-term rental property manager — whether as a full-time business or a side hustle — this blog will walk you through the key steps to get started and scale fast.

What Is a Short-Term Rental Property Manager?

A short-term rental property manager oversees vacation rentals, Airbnb properties and other short-term accommodations. 

Their job includes handling guest communication, coordinating cleanings, setting pricing strategies, marketing properties and ensuring top-notch guest experiences. 

In short, they handle the day-to-day operations of the property, taking the stress off property owners and optimizing performance, which can lead to maximizing short-term rental income.

Five Steps to Become a Successful Short-Term Rental Manager

Step 1: Gain hands-on experience

Before getting into property management, hands-on experience is a must. Many successful short-term rental managers start by renting out their own place or helping friends and family with theirs. 

This allows you to develop a strong foundation in key areas such as: 

• Handling guest bookings and communication. 

• Managing check-ins and check-outs seamlessly. 

• Overseeing cleaning schedules and property maintenance. 

• Providing a high-quality guest experience to encourage positive reviews.

The more experience you gain upfront, the easier it is to attract clients and grow your business. A strong track record builds trust, making property owners more likely to hand over their rentals to you.

Step 2: Choose a business model

There are two main ways to run a short-term rental management business, each with its own benefits and risks:

Property management contracts

This model allows you to manage properties for owners in exchange for a commission, typically 10-30% of the rental revenue. 

You handle everything from guest communication and bookings to cleaning and maintenance. Some managers also offer extra services like furnishing, dynamic pricing and marketing for additional fees. 

This is a great option if you want to build a business without the financial risk of owning properties.

Rental arbitrage

With rental arbitrage, you rent a property from an owner and then sublet it to short-term guests at a higher price. 

Your profit comes from the difference between the rent you pay and the income from bookings. To maximize earnings, you can offer premium services like late check-outs, extended stays or concierge experiences. 

While this model requires upfront investment for rent and furnishings, it offers higher profit potential since you keep all the rental income.

Both approaches have their advantages and the best choice depends on your budget, risk tolerance and long-term goals.

Step 3: Understand profitability and expenses

To keep your property management business profitable, tracking income and expenses is key. Here’s how to break down the numbers:

Gross income

Estimate your revenue with this simple formula:

(# of nights booked) × (nightly rate) × (occupancy rate)

Knowing your market’s average occupancy and pricing helps you set realistic revenue goals.

Net income

Once you factor in expenses, your net income is:

Gross Income – Operating Costs (rent, cleaning, utilities, maintenance, etc.)

Keeping a close eye on expenses ensures you stay profitable and scale your business the right way.

Step 4: Simplify operations with a Property Management System (PMS)

Guest management

Simplify guest communication with AI-powered messaging, making it easy to stay connected before, during and after their stay. All messages are organized in a single inbox, so you never miss a thing. 

Automate responses to common questions and provide quick, personalized replies to enhance the guest experience. Plus, smart locks make check-ins and check-outs seamless, reducing friction for guests and saving you time.

Booking management

Sync your listings across Airbnb, Vrbo, Booking.com, Google Vacation Rental and your direct booking site to keep everything in one place. This way, you avoid double bookings and make sure your calendar is always up to date. The more platforms you're on, the more guests you'll reach, helping you secure more bookings.

Task management

Automate tasks like cleaning and maintenance based on bookings to keep everything running smoothly. You can easily assign tasks to cleaners and track their progress, ensuring timely preparation and no last-minute surprises. Consistent, timely property upkeep improves the guest experience and boosts your ratings.

Financial reporting

Track all your income, expenses and payouts with detailed reporting tools. Provide clear, easy-to-understand financial statements to property owners, helping build trust and transparency.

Direct booking management

Set up your own branded booking site to process payments securely and build your business’s brand. By reducing reliance on third-party platforms, you cut commissions and increase your profit margins.

Plus, listing your site on Google Vacation Rentals boosts visibility, driving more direct bookings and reducing platform fees.

Listing optimization

Make your listings stand out with high-quality photos, AI-generated descriptions and strategic pricing. Hostaway’s Dynamic Pricing automatically adjusts rates based on demand, helping you increase occupancy and bring in more income without manual effort.

Review management 

Boost your ratings with automated review requests that encourage positive feedback. Use guest insights to refine your services and maintain top-tier rankings. Higher ratings build trust, improve search visibility and attract more bookings.

Marketplace integrations

Take advantage of over 150 integrations and partners to personalize your workflow and tech setup. Whether you want to improve your existing tools or try out new solutions, these apps are made for property managers to streamline operations and help your business grow.

Step 5: Grow your property portfolio

Once you’ve got a few properties under management, it’s time to scale up. Here’s how to expand your portfolio:

Network with real estate pros

Connect with real estate agents, investors and property owners who might be interested in short-term rentals. Offer them an easy, stress-free way to boost their rental income without the extra work.

Tap into local communities and online platforms

Join Facebook groups, real estate forums and local networking events to find potential clients. Share your services in spaces where homeowners are actively looking for property management help.

Leverage reviews and referrals

Providing excellent guest experiences will help you earn glowing reviews, which are key in building your credibility. Use your success stories to show property owners why they should trust you with their short-term rentals.

To keep the momentum going, encourage current clients to refer new business to you by offering them incentives.

Turning Your STR Venture into Profit

Short-term rental management is more than just a business — it’s a highly lucrative and rewarding career in a fast-growing market. The key to long-term success lies in delivering exceptional guest experiences, using tools like Hostaway to streamline operations and strategically expanding your portfolio to maximize returns.

Success isn’t about how many properties you manage — it’s about efficiency, consistency and anticipating market trends. By mastering these elements, you can create a business that provides financial freedom, personal fulfillment and the satisfaction of offering guests unforgettable stays. 

With the right strategy, short-term rental management can become a profitable and deeply satisfying career.

FAQs

1. Do I need to own property to become a short-term rental property manager?

No! You don’t have to own property to manage it. With a property management contract, you can manage other people’s rentals and earn a commission. 

If you want more control, rental arbitrage is another option — rent a property yourself and sublet it to guests for profit. Both options work, so it comes down to your budget and how much risk you're comfortable with.

2. How much can I make as a short-term rental property manager?

Your earnings depend on how many properties you manage, your commission rate and how well you keep expenses in check. 

Most property managers charge between 10% and 30% of the rental income. 

3. How can I make my listings stand out?

High-quality photos and a well-crafted, detailed description are key to making your listing pop. Using dynamic pricing tools like Hostaway lets you adjust rates based on demand, keeping you competitive. 

Plus, quick responses to inquiries and reviews will help your listing get noticed and climb the rankings.

4. Do I need a license to manage short-term rental properties?

Licensing requirements vary by location. Some cities may require property managers to register or obtain a business license. 

Additionally, certain areas have regulations that short-term rental hosts must follow, which could include permits or specific rules around renting out properties. While most U.S. states don’t require a real estate license to manage Airbnb properties, there are exceptions, so it’s important to check the local laws in your market.

5. How can I handle difficult guests or complaints?

Handling difficult guests starts with excellent communication and setting clear expectations. Always stay calm and professional, listen to their concerns and try to resolve the issue promptly. 

For common complaints like cleanliness or amenities, offer a solution, such as sending a cleaning crew or providing additional items. Setting clear house rules upfront and addressing issues quickly can help prevent problems from escalating.