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Airbnb Launches Co-Host Marketplace, Shaking Up Property Management Industry – Image Credit Unsplash+
- Airbnb has launched its new co-host marketplace, a service that connects hosts with other hosts to help manage their properties.
- The move could disrupt the property management industry, with many co-hosts offering similar services with less bureaucracy and fewer fees.
Airbnb has officially launched its co-host marketplace, a service that allows hosts to hire other hosts to assist them with property management. The new offering first announced during Airbnb’s Q2 earnings call in August, aims to increase the supply of available listings and improve the overall hosting experience.
The co-host marketplace is launching with 10,000 co-hosts across ten countries and plans to expand. Co-hosts can help create Airbnb listings, take photos, clean, and communicate with guests.
This new offering could pose a significant challenge to property management companies. Airbnb’s policy and communications head, Jay Carney, suggested that while property management companies often fail to meet the high standards of service required by the co-host marketplace, individuals working for these companies may qualify to become co-hosts.
Around 20% of the 1.7 million short-term rental listings on Airbnb and Vrbo in the U.S. are managed by property management companies. This leaves a vast market of hosts who might want support but may not wish to hire a professional property management company.
Industry experts suggest that the co-host marketplace could threaten property managers offering partial services but is unlikely to replace full-service offerings entirely. However, the new model could shift power dynamics in the industry, as co-hosts may provide similar services with less bureaucracy, fewer fees, and more personalized experiences for guests and property owners.
Alongside the launch of the co-host marketplace, Airbnb also announced over 50 updates to enhance the user experience for guests. The platform aims to simplify the property search process and is considering introducing natural language search.
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