Getting Started
Is an Airbnb management company the same as a letting agent?
Quick answer
No. A letting agent finds a tenant, collects rent and steps back. An Airbnb management company runs your property like a small hotel every week, handling guests, cleaning, pricing and maintenance. The management company is paid a share of booking revenue, so it only earns more when you do.
Written by Guy, Director at Renzo · Published · Last updated · 5 min read
What does a letting agent actually do?
A letting agent's main job is finding a tenant, referencing them, setting up the tenancy and collecting the rent. A fully managed agent will also arrange repairs and do the odd inspection. Once the tenant is in, the agent's work drops right off, because nothing much changes month to month.
What does an Airbnb management company do?
Far more, and every single week. At Renzo we handle the listing across Airbnb, Booking.com and direct bookings, nightly pricing, every guest call and message, guest vetting, cleaning and linen between stays, and maintenance. You get a monthly payment and statement. If you're new to the idea, our guide on what short let management is goes into the detail.
Think of a letting agent as a matchmaker. A management company is more like the person running the hotel.
How is each one paid?
Letting agents usually charge a percentage of the monthly rent, often somewhere around 10% to 15% for full management, plus setup or renewal fees. Their income is tied to the rent, which is fixed, so there's no real reason for them to push for more.
Renzo charges 14% plus VAT on booking revenue. If your calendar is full and the pricing is right, we earn more. If it's empty, we earn less. That's the model I prefer, because our incentives line up with yours.
How involved does the landlord end up?
This is the bit that surprises people. Plenty of landlords pay an agent 10% to 15% and still end up chasing arrears, pushing for repairs, or arguing over deposits at the end of a tenancy. The agent technically manages it, but the stress still lands on you.
With a managed short let, there's no tenancy to go wrong. Every guest is vetted with ID checks and a damage deposit or waiver, damage is charged straight away, and the property is checked and cleaned at least every two weeks with a photo audit after every clean. You can see its condition any time.
Which one gets more control?
A letting agent hands the property to a tenant, and getting it back has become slower since Section 21 went. With a management company, you can block dates for yourself, and if you want out, the property comes back empty.
When is a letting agent the better choice?
If you want a fixed rent every month and you've got a reliable tenant, a good letting agent is perfectly sensible. I'd keep that arrangement. A management company makes more sense if you want higher income and control. Landlords typically earn 30% to 40% more than a buy to let with Renzo. Our Airbnb vs buy to let comparison lays it out side by side.
Find out what your property could earn
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FAQs
Is a short let manager more expensive than a letting agent?
The percentages can be similar. Renzo charges 14% plus VAT on booking revenue, but the work involved is much greater.
Will I still have to chase things?
No. Renzo handles guests, cleaning, maintenance and pricing, and you get a monthly payment and statement.
Can I use my property with a letting agent?
Not once a tenant is in. With a managed short let you can block dates whenever you want.
Where does Renzo work?
Lincoln, Nottingham, Derby, Northampton, Milton Keynes, Bedford and Newark on Trent.