Step 3: Consider rental management or co-host changes
New owners should thoroughly read the guest reviews and see what guests loved and what they complained about. If most guests left high marks for service, quick response times, and cleaning, consider keeping the current property manager. However, if there are more complaints than compliments, start looking for other vacation rental management companies in the area.
Keep in mind there are a few types of rental managers:
- Full-service managers who handle it all for you (like Vacasa)
- Half-service managers (such as Vacasa’s Guestworks)
- Managers that offer a la carte service
Step 4: Be transparent with guests
It's important to communicate with any guests who have existing bookings for your Airbnb and Vrbo property. This includes:
- Notifying them of the upcoming ownership change and providing the new owner's contact information
- Assuring them that their existing bookings will be honored and that they’ll still receive the guest experience they were promised
- Providing the new owner with any relevant guest information, such as special requests or preferences
Step 5: Update account information
Before transferring the property, ensure that all account information and details are up-to-date, including:
- Verify that all payments, fees, and taxes are current
- Update the property's address, contact information, and other relevant details
- Ensure that any scheduled maintenance or cleaning services are properly communicated to the new owner
Legal and financial considerations
As with any real estate investment, transferring ownership of an Airbnb and Vrbo is a complex process. Before initiating a transfer, it's crucial to understand the legal requirements, tax considerations, and contractual obligations involved.
Consult with a real estate agent specializing in vacation rentals
Consult with a real estate agent specializing in vacation rentals or a real estate attorney to ensure that the transfer of ownership is handled properly and in compliance with all applicable laws and regulations. These experts can help with:
- The legal process for transferring the property
- Any necessary paperwork or documentation
Vacasa can recommend licensed, vacation rental-savvy real estate agents in your area.
