28 Jan How to pay your Airbnb Team with just a few clicks
I used to dread the 1st of the month! I remember my process to payout my cleaner and co-host before Coast.
It was tedious. Boring.
My co-host would take the data from my calendar and package it in one big email. It looks something like this.
I then had to figure out if my co-host had the correct math for her rev-share, and if the number of cleans match the date of the reservation.
Most of the time, she was perfect with her math. But some of the time, I would find a few calculation mistakes (I can be meticulous and you have to be when you start an Airbnb business).
Then I would have to reply to her, do the actual calculation, show the correct math, have her confirm the new payout total, then pay her out via Paypal.
Paying out your Airbnb Team doesn’t have to be hard
This is extremely time consuming and boring because I had to verify each of her reservation. I would use my iPhone to match the guest’s name from the correct property to her email.
Each property would take about 5~10 minutes.
Now, imagine if you had 20, 50, or 100 reservations per month… Or 10, 20, 50 properties? Yeah… you get it now. Tedious and boring.
What are you going to do when that happens?
Hire someone part-time and eat the overhead? I guess you could…but there has to be something better. The name of my game is automation. I started to think if I could automate this process.
You need a scalable way to pay out your Airbnb Team
One thing for sure is that the co-host model is growing. I get more and more emails every week about cohosting.
It always goes something like this: “Hey Sam, I need to pay out my co-host and cleaner. What do you do? Or “Sam, I am a cohost and I would like to add more properties.”
Just recently, I started to get emails about opportunities to clean for Airbnb hosts (glad this market is also catching on).
Airbnb is not going anywhere. They’re growing year over year and about to IPO this year.
I also know the co-host model is not going anywhere because more hosts are becoming professional hosts (hosts with more than 2 properties, according to Airbnb). When you scale, you’ll need a team to help you manage your Airbnb units.
How one of my friends currently pays out his Airbnb Team (cleaner)
My friend uses Venmo to pay out his cleaners. Let’s call him Mr. 4 properties (spread out in 2 different states). He has 3 cleaners that he uses to help turnover his properties.
His cleaners would send him ad-hoc and daily Venmo requests after each clean. And all he had to do was to click “accept.”
Pretty sweet right…?
Naw…imagine when the tax season hits and you need to know just how much you paid out to each of your cleaners. What about those 1099-MISC forms that you’ll have to send out by Jan 31st?
Yeah… have fun digging into your Venmo transactions and emails! 😉 I can tell you right now, it’s not fun…
The thing is… the system to pay out your Airbnb Team is broken right now.
The cool thing about Coast is that all of your finances for your Airbnb Team are under one platform. You export your Airbnb transaction history and everything else is done for you.
No more emails or texts.
You don’t need Google Sheets (Sorry Google!).
No more logging into multiple banking accounts like Paypal or Venmo. And finally, no more digging deep into your email inbox for invoices.
Wouldn’t it be nice to know just exactly how much you paid out for each of your Airbnb Team members?
We created Coast to help you pay your co-host and cleaner
Coast takes care of all the above. Now, you can pay your Airbnb Team whenever you want and however you want.
Next, I’m going to show you just how easy it is to use Coast.
Once you’re signed up for free, here is how it works in 5 easy steps.
Step 1) Add your property.
Step 2) Invite your Airbnb Team (Co-host and/or Cleaner)
Step 3) Set up your payment info via Stripe
Step 4) Upload your bookings from Airbnb.
Step 5) This is my favorite part. Go to one of your properties then click on “Confirm and Pay.”
Yes, you’ll have to do some work upfront to set everything up. But we made it super easy for you. I hope you’ll get a chance to use it soon (not sure how long we’re going to keep it for free).
Here’s the link to check out Coast.
What has been your experience paying out your Airbnb Team? Let me know in the comment sections below.