Turning a condo into an Airbnb can be a good way to earn extra income. As a condo property manager, you’ll have to deal with the fact that tenants within the property want to turn their condo into an Airbnb. While it may look harmless on the surface, it can bring about conflict with other condo owners. Some of the tenants may not be comfortable with the idea of having different people living next to the every so often. It’s your duty as the property manager to address these concerns to avoid conflict. Here are some Airbnb property management tips for dealing with the conflict between a tenant’s Airbnb business and the other condo occupants.
1. Listen to Their Plight
If the condo occupants are upset about the condo Airbnb business, the best thing you can do to earn their trust is to listen to them. People just need to know that you care about their concerns. As a manager, you don’t have to have a solution at that point. Sometimes, just making their opinion seem important is all you need to do at that point. Listening will defuse the situation even if it doesn’t solve it.
Regardless of your stand on Airbnb business, or the fact that it does not go against the condo ownership contract, you need to remain impartial as the manager. It is your responsibility to ensure the situation does not get out of hand. Your work as a manager is to mediate between the Airbnb owner and the other condo occupants.
3. Take the Matter to The Board
Some Airbnb property management issues cannot be solved by the management team alone. Therefore, the board has to get involved. The condo management team does not have control over what condo owners can do or can’t do with their units. Therefore, the best way to solve an Airbnb related conflict is to bring it up at the next board meeting. Ensure you present the issue with facts about how Airbnb affect other residents and also how it affects the property value.
4. Come Up with A Security Protocol
Safety is always the primary concern when one resident decides to use their condo as an Airbnb business. If operating a condo business does not go against the management rules, the best way to handle the situation is to work on your security protocol. Make sure that all Airbnb guests follow this protocol each time they are renting a unit. Also, ask the condo owner to notify management and neighbours whenever they are expecting guests at their Airbnb. The guests can be asked to sign in with management when they arrive, during their stay, and when they leave.
5. Come Up with Guest Guidelines
It is a good idea to create guidelines for condo Airbnb guests. Ensure the host has a folder in the condo unit with the guidelines the guests must follow to ensure they live harmoniously with the rest of the condo flat occupants.
If you’re looking for the ideal condo for an Airbnb, you might want to get in touch with the Toronto condo team.