Rhode Island Airbnb Management Company Directory

Rhode Island is known for its charming coastal towns, rich history, and vibrant cultural scene, making it a great destination for short-term rentals. This guide lists the best Airbnb property management companies in Rhode Island by city.

Top Rhode Island Airbnb Management Companies

The best Airbnb management companies in Rhode Island include:

1. Awning: Best Overall Airbnb Manager
2. RedAwning: Best Half-Service Airbnb Management Solution
3. Avantstay: Best Luxury Short-term Rental Management Company
4. Resort Share 5: Best for Coastal Properties

Top Rhode Island Airbnb Management Companies by City

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How We Researched the Top Rhode Island Airbnb Management Companies

The criteria we used to select and rank the top Airbnb management companies in Rhode Island  include:

• Services: We looked at whether a company is a half-service or full-service provider and whether it covers all expected services within each category.
• Pricing: We considered whether an Airbnb property manager has a clear pricing structure covering all services. We also looked at what additional fees hosts will need to pay.
• Value for money: We evaluated whether the provided services and the expected fee offer the best value for money.
• 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 Rhode Island , connect with an Awning property manager now.

How to Choose a Rhode Island Airbnb Management Company

Choosing the right Airbnb management company is essential for the success of your vacation rental business in Rhode Island. With various cities imposing strict regulations on short-term rentals, finding the right management company can be a challenging task.

When making this decision, consider the following factors:

• Services: Would you like to have a hands-on approach to managing your property, or would you prefer a completely passive income? What services do you expect from your Airbnb manager, and what tasks would you like to handle yourself? Is your property already furnished and ready for guests, or do you need assistance in preparation?
• Pricing: What is your budget for a passive investment experience or for extra help in managing your vacation rental?
• Value for Money: Compare the services offered by various property management companies and the fees they charge, including the monthly fee and any additional costs.
• Business Model: Would you prefer to work with a local or nationwide property manager? Do you prefer a national level of accountability, or would you like a more personal touch? Is the company transparent and trustworthy?
• Reviews: Read online reviews from both property owners and guests. If possible, talk to local investors who have worked with the property management companies you are considering.
• Number of listings in Rhode Island: Choose a company that has a strong presence in the Rhode Island market but is not understaffed or overwhelmed. Look for an experienced professional with enough local resources.

When interviewing potential Rhode Island property management companies, ask the following questions:

• Are you a local or nationwide property management company?
• How many years of experience do you have managing short-term rentals?
• How many properties are you currently managing?
• What is the size of your local team?
• Do you have an in-house local management team or do you work with vendors?
• What is your track record for increasing revenue in the local market?
• Do you provide help with property preparation, such as interior design, furnishings, short-term rental licenses and permits, and taxes?
• Who handles guest payments and remits them to the property owner?
• Do you offer cleaning, laundry, and restocking services?
• Do you manage property inspections and maintenance work?
• Do you handle swimming pools and hot tubs?
• What is your fee structure for Airbnb property management? What services are included and what additional costs or fees should I expect?
• Can I review a copy of the property management agreement?
• What is the process for canceling your services?
• Will I retain my property reviews if I end our agreement?

Answering these questions will help you make an informed decision when choosing the best Airbnb property management company in Rhode Island for 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 Rhode Island 

Starting an Airbnb business in Rhode Island involves the following steps:

1. Choosing the ideal location for investment (where short term rentals are allowed and the return on investment is favorable)
2. Identifying a high-potential property
3. Verifying that the zoning district allows for short-term rentals
4. Hiring a real estate agent for property acquisition
5. Renovating the property (as necessary)
6. Furnishing the rental
7. Selecting a business structure
8. Filing tax and employer identification documents
9. Obtaining a vacation rental license from the Rhode Island Department of Business Regulation
10. Acquiring local short-term rental licenses and permits by city
11. Deciding whether to manage the property independently or with the help of an Airbnb management company
12. Listing the property and accepting bookings
13. Providing ongoing services and property maintenance

The choice of whether to manage the property independently or with the assistance of a management company will determine the level of passive rental income you receive. 

Rhode Island Airbnb Laws and Regulations

Rhode Island has statewide regulations for short-term rentals that apply to Airbnb hosts. Here are some key requirements:

• Registration: Airbnb hosts in Rhode Island must register with the state and obtain a permit to operate a short-term rental. Hosts must also provide certain information, such as their name and contact information, and proof of insurance.
• Taxes: Airbnb hosts in Rhode Island are required to collect and remit state and local lodging taxes on any short-term rental transactions. Hosts can register with the Rhode Island Division of Taxation to obtain a Sales Tax Permit and file monthly tax returns.
• Safety regulations: Airbnb hosts in Rhode Island must comply with all applicable safety regulations, including fire safety, building codes, and health regulations.
• Occupancy limits: Rhode Island has set a statewide limit on the number of guests allowed in a short-term rental property. The limit is based on the number of bedrooms in the property, with a maximum of 15 guests allowed in any short-term rental.
• Notification requirements: Airbnb hosts in Rhode Island must notify their neighbors that they are operating a short-term rental, and provide a local contact person for any issues that may arise during the rental period.

Takeaway

Starting an Airbnb business in Rhode Island can be a lucrative venture in the real estate industry. However, it is important to note that regulations and competition in the short-term rental market can be stringent. This is why having a solid vacation rental property management strategy is essential for the success of your business. One option to consider is hiring a professional Airbnb manager, such as Awning.