What Does a Property Management Company Do?

A property management company takes on the work of running a rental property so the landlord does not have to. For short lets, Airbnb and serviced accommodation, that work is daily rather than occasional: pricing changes, guest messages, cleaning between stays and small problems that need fixing quickly. This guide explains what a property management company does for landlords in London and across the UK, what you still need to provide, and the two main ways to work with a manager.

What a Property Management Company Does

Prepares the property for guests: advises on furnishing and presentation, arranges professional photography and sets up everything guests need, from linen to Wi-Fi details.
Markets the property: creates and optimises listings on Airbnb, Booking.com and other platforms, so the property reaches the right guests.
Sets and adjusts pricing: changes nightly rates with demand, seasons, events and local competition, rather than fixing one price for the year.
Manages guests: answers enquiries, vets bookings, handles check-in and check-out, and supports guests during their stay.
Handles cleaning and turnovers: arranges a professional clean and fresh linen between every stay, not just periodically.
Looks after maintenance: coordinates repairs, deals with problems guests report and carries out regular property checks.
Keeps the property compliant: helps you meet local short-let rules, such as London’s 90-night rule or licensing in Scotland, and keeps safety checks up to date.
Reports to you: gives you clear monthly statements showing bookings, income and costs.

A Typical Month With a Manager

Once your property is live, a good manager runs it in the background. Pricing is reviewed and adjusted as demand changes, booking requests are checked and accepted, guests are welcomed and supported, the property is cleaned and restocked after each stay, and any maintenance issues are handled as they come up. At the end of the month you receive a statement, and you only need to get involved for decisions that genuinely need you, such as a major repair.

Two Ways to Work With a Property Management Company

Many companies, including Ichiban Stays, offer two arrangements:

	Guaranteed rent	Fully managed
How you are paid	An agreed rent every month, whether or not the property is booked	The rental income your property earns, less the management fee
Who runs the property	The management company	The management company, on your behalf
Best for	Landlords who want a predictable income	Landlords who want the higher income potential of short lets
Main trade-off	Certainty rather than the highest possible return	Income varies month to month with demand

With either option, ask for a written income projection for your property so you can compare them side by side. Our guide to property management fees explains how fees are usually structured and what to check.

What a Landlord Still Needs to Provide

A property that is ready to be furnished and let, or already furnished to a good standard.
Permission from your mortgage lender, freeholder or lease, and building insurance that covers short lets.
Up-to-date safety certificates, such as gas safety and electrical checks, and working smoke and carbon monoxide alarms.
Clear communication about your goals, for example whether you want maximum income or minimum involvement.

Property Management Company vs Letting Agent

A traditional letting agent mainly finds a long-term tenant and may collect the rent. A short-let property management company runs the property every day: it lists it on booking platforms, sets prices, looks after guests, and arranges cleaning and maintenance between stays. If you want a steady income without short-let work, guaranteed rent can be a middle ground. Read more in our comparison of Airbnb vs long-term rental.

Do You Need a Property Management Company?

You are likely to benefit from a manager if you live away from the property, work full time, own more than one property, or simply do not want to answer guest messages late at night. If you have the time and live nearby, managing it yourself can work, and our guide to short-let management vs doing it yourself sets out the work involved. Comparing companies? Use our checklist on how to choose the right property management company.

Frequently Asked Questions