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Wyoming is a state known for its natural beauty and outdoor recreation opportunities, including skiing, hiking, and fishing. It is a desirable destination for tourists looking for a unique and immersive experience. This guide lists every Airbnb property management company in Wyoming by city.
Top Wyoming Airbnb Management Companies
The best Airbnb management companies in Wyoming include:
- Awning: Best Overall Airbnb Manager
- RedAwning: Best Half-Service Airbnb Management Solution
- Avantstay: Best Luxury Short-term Rental Management Company
- Jackson Hole Resort Lodging: Best for Furnished Vacation Rentals
Top Wyoming Airbnb Management Companies by City
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How We Researched the Top Wyoming Airbnb Management Companies
The criteria we used to select and rank the top Airbnb management companies in Wyoming 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 Wyoming , connect with an Awning property manager now.
How to Choose a Wyoming Airbnb Management Company
Selecting the right Airbnb management company is just as important as acquiring a valuable property for the success of your rental business, especially in a state like Wyoming that has stringent short-term rental regulations and restrictions.
When making this decision, consider the following criteria, which were used in our ranking of the top Wyoming Airbnb management companies:
- Services: Do you prefer to be hands-on in the management of your property (half-service is ideal) or have a completely passive income (full-service is necessary)? What services do you expect the Airbnb manager to provide and what tasks do you want to handle yourself? Does your property require any preparation for guests or does it come ready-to-go?
- Pricing: How much are you willing to pay for a stress-free investment experience or some additional help managing your vacation rental?
- Value for money: Evaluate the services provided by different property management companies and the fees they charge, including the monthly fee and any additional costs.
- Business model: Would you prefer working with a local or nationwide property manager? Do you want accountability on a national level or a local, personal touch? Is the company trustworthy and transparent?
- Reviews: Read online reviews from property owners and guests. If possible, talk to local investors who have worked with each property manager you're considering.
- Number of listings in Wyoming: Choose a company that has a solid presence in the Wyoming market but isn't overworked or understaffed. You want to hire a seasoned professional with adequate local capacity.
When interviewing top choices for a Wyoming short-term rental property management company, ask these questions:
- Are you a local or nationwide company?
- How many years have you been 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 use vendors?
- How much have you been able to increase revenue in the local market?
- Do you help prepare properties for guests, including interior design, furnishings, short-term rental licenses and permits, and taxes?
- Do you collect payments from guests and remit to owners or do booking fees go directly to the property owner?
- Do you offer cleaning, laundry, and restocking services?
- Do you perform property inspections and maintenance work?
- Do you manage swimming pools and hot tubs?
- What is your Airbnb property management fee and what does it cover? Are there any additional fees or costs? Is there an onboarding or early-termination fee?
- Can I review a copy of the property management agreement?
- How can I cancel your services?
- Will I keep my property reviews if I opt out?
Knowing the answers to these questions is essential to selecting the best Airbnb property management company in Wyoming 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 Wyoming
To start an Airbnb business in Wyoming, investors need to:
- Identify the most suitable location in Wyoming for investment in Airbnb (where it is allowed and has high potential returns)
- Find a high-potential property
- Ensure that the zoning district permits short-term rentals
- Obtain the services of a real estate agent to assist in purchasing the property
- Conduct renovations if necessary
- Furnish the rental property
- Determine the desired business structure
- File the necessary tax and employer identification documents
- Obtain a vacation rental or dwelling license from the Wyoming Department of Business & Professional Regulation
- Secure local short-term rental licenses and permits from relevant cities (most cities in Wyoming require them)
- Make a decision on whether to manage the property on your own or hire an Airbnb management company
- List the property for rental
- Continuously provide guest services, property maintenance, and upkeep
The choice between managing the Wyoming vacation rental independently or with the help of a property manager will impact whether the income generated will be passive or not.
Wyoming Airbnb Laws and Regulations
Wyoming does not have any statewide regulations specifically addressing Airbnb or short-term rentals. However, some cities and counties in Wyoming may have their own regulations regarding short-term rentals.
For example, Jackson requires hosts to obtain a Short-Term Rental Permit and comply with certain safety and building regulations. Additionally, some Wyoming cities and counties may require hosts to collect and remit local occupancy taxes on short-term rental transactions.
Airbnb hosts in Wyoming are also encouraged to obtain liability insurance to protect themselves and their property in case of any accidents or damages. Hosts should also ensure that their rental property complies with all applicable building and zoning codes and safety regulations.
Takeaway
Starting an Airbnb business in Wyoming can be a lucrative opportunity in real estate. However, investors in short-term rental properties can expect to encounter strict regulations imposed by the state and local cities, as well as strong competition from other experienced investors. As a result, it's crucial to have an effective vacation rental property management strategy in place. One way to achieve this is by partnering with a professional Airbnb manager.
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