Top Airbnb Management Companies in New York by City

With a demand for rental properties throughout the year, New York is one of the best short-term rental investment locations in the US. Its rich cultural heritage, diverse neighborhoods, and world-renowned landmarks make New York a perfect place to start an Airbnb. Many cities in New York have strict short-term rental laws and regulations that may make operating an Airbnb legally difficult. However, hiring an expert Airbnb property management company in New York can help ensure you are compliant with all local laws. This guide can help you find the best Airbnb property management company in cities across New York to help you make your short-term rental a success!

Top New York  Airbnb Management Companies

The best Airbnb management companies in New York  include:

• Awning: Best Overall Airbnb Manager
• RedAwning: Best Half-Service Airbnb Management Solution
• Avantstay: Best Luxury Short-term Rental Management Company
• StayMarquis: Best For Local Presence
• Sonder: Best for Apartment Hosts

Top New York  Airbnb Management Companies by City

Using the tool below, you can find a complete list of Airbnb management companies in New York by city. We analyzed the companies in each city and ranked the best short-term rental management companies by the number of listings in each city in New York, the type of property management services they offer and how they price their services.

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How We Researched the Top New York  Airbnb Management Companies

Our ranking system is a product of the robust analysis we undertook to provide you with a comprehensive review of the top Airbnb management companies in New York. Here is the criteria we used to not only select but also rank the best short-term rental companies in New York:

• Services: We examined the services each company offered, how robust the offerings (partial service vs full service management company) and whether it fulfills all the needs owners expect within each category.
• Pricing: We analyzed the pricing structures of Airbnb property managers in New York and determined how clear the pricing structure is, if it covers all necessary services and if hosts incur additional fees. 
• Value for money: We weighed if the fees each short-term rental management company in New York aligns with the level services offered by each short-term rental management company and the fee the company charges to determine if hosts are getting the most bang for their buck.
• Business model: We investigated whether a company uses the latest real estate technology while retaining human touch, which is crucial in property management.
• Reviews: We took into consideration whether companies have a strong online presence and whether reviews are positive or negative.
• Number of listings: We searched for the Airbnb management companies with the most active listings in the market.

To maximize your vacation rental investments in New York , connect with an Awning property manager now.

How to Choose a New York  Airbnb Management Company

Choosing the right Airbnb management company is essential for the success of your rental business in New York, where several cities have stringent regulations for short-term rentals.

When selecting a New York Airbnb management company, consider the following criteria:

• Services: Do you want to be hands-on in the management of your property (half-service), or would you prefer a fully passive investment (full-service)? What services do you expect the Airbnb manager to provide and what would you like to handle yourself? Will your property be ready for guests, or will you need help with preparation?
• Pricing: How much are you willing to pay for a completely passive investment experience, or for additional management help?
• Value for money: Compare the services offered by several management companies, including the monthly fee and any additional charges.
• Business model: Do you prefer a local or nationwide property manager? Do you want a personal touch or national accountability? Does the company appear trustworthy and transparent?
• Reviews: Check online reviews from property owners and guests. If possible, speak with local investors who have worked with each management company you're considering.
• Number of listings in New York: Choose a company with a well-established presence in the New York market, but not one that is understaffed or overburdened. You want an experienced professional with sufficient local resources.

When interviewing potential management companies, ask the following questions:

• Are you a local or nationwide company?
• How many years have you been managing short-term rentals?
• How many properties do you manage currently?
• What is the size of your local team?
• Do you have an in-house management team, or do you work with vendors?
• What is your record of increasing revenue in the local market?
• Do you assist with preparation, interior design, furnishing, licenses and permits, and taxes?
• Do you collect money from guests and remit to owners, or do booking fees go directly to the property owner?
• Do you provide cleaning, laundry, and restocking services?
• Do you conduct property inspections and maintenance work?
• Do you manage swimming pools and hot tubs?
• What is your monthly Airbnb management fee, and what does it cover? Are there any additional fees and costs? What is the onboarding and early-termination fee?
• Can I review a copy of the property management agreement?
• How do I cancel your services?
• Do I keep my property reviews if I opt out?

Getting answers to these questions is critical to finding the best New York Airbnb management company that meets your specific needs.

How Airbnb Management Works

There are two broad types of Airbnb property management companies: full-service and half-service.

Full-service property managers are those that take care of all the aspects of owning and running a short-term rental business.

The best full-service Airbnb management companies help investors achieve passive income while boosting performance.

Half-service Airbnb property managers usually focus on listings, marketing, revenue management, guest communication and support, and taxes. Some of them offer to connect property owners with vetted local vendors for the services they do not cover.

Vacation rental property management companies can be national (covering most US markets) or local (focusing on a specific city). Both come with their own advantages and disadvantages.

Property management fees range widely in the US market: between 10% and 50% of revenue, with 20-25% of revenue being the average for full-service providers. Some companies charge different rates for different markets and different property types. Property managers frequently charge extra for services outside the core package, like interior design, furnishing, insurance, linen, etc.

The top vacation rental management companies have flexible terms and do not require long-term commitment on behalf of property owners. However, some expect quarterly or annual commitments.

Some Airbnb property managers focus on specific property types, like luxury rentals, group travel rentals, apartments, etc., while others work with most residential properties. Different companies have different eligibility requirements; for example, half-service property managers work with furnished short term rentals, while some full-service companies prefer to be directly involved in design and furnishing.

One thing property owners should keep in mind is that most Airbnb management companies list rentals under their brand name, so hosts lose the reviews and rankings once they leave. A noticeable exception is Awning, which allows properties to keep reviews.

How to Start an Airbnb in New York 

To launch an Airbnb venture in New York, investors should:

• Determine the ideal location for investment property in New York (where short-term rentals are permitted and return on investment is favorable)
• Identify a property with high growth potential
• Ensure that the zoning permits short-term rentals
• Seek the assistance of a real estate agent for property acquisition
• Conduct renovations (if necessary)
• Furnish the rental space
• Choose an appropriate business structure
• File tax and employer identification documents
• Obtain a vacation rental or dwelling license from the New York Department of Business & Professional Regulation
• Acquire local short-term rental licenses and permits as mandated by the city
• Determine whether you want to self-manage or hire an Airbnb management company
• List the property and begin accepting bookings
• Provide ongoing guest services and property maintenance

The decision to self-manage or hire a property manager will impact the level of passive rental income received.

New York Airbnb Laws and Regulations

Short-term rental laws in New York are complex and vary depending on the location. In general, New York City and the state of New York have strict regulations on short-term rentals to prevent illegal operations and ensure the safety of renters. In New York City, short-term rentals are only allowed in most apartment buildings if the permanent tenant lives in the apartment while guests are staying there, and the rent is limited to $1,500 per month per room. Any illegal operation can face a fine from $1,000 to $7,500.

The state of New York requires short-term rentals to be registered with the state.. In addition, the local regulations for short-term rentals may include zoning laws, occupancy and safety standards, taxation, licensing, and insurance requirements. New York City has taken several measures in recent years to crack down on illegal short-term rentals. Any building without proper fire safety systems such as alarms and sprinklers, and not having enough exits in the event of an emergency, are not allowed to operate as a short-term rental.

New York City's new law is a game-changer for short-term rentals. Millions of apartments are barred from ever becoming short-term rentals, and the Office of Special Enforcement is primed to police the new streamlined rules to shut down thousands of units operating illegally.

Takeaway

Starting an Airbnb business in New York is a great way to make money in real estate. However, as with any short term rental property investment, investors should be prepared for strict regulations from both the state and individual cities and intense competition from other experienced investors. As a result, it's crucial to have a strong vacation rental property management strategy, and hiring a professional Airbnb manager is the best way to achieve this.