MasterHost is the leading short-term rental management company in the Chicago Metropolitan Area. We have been pioneering the Airbnb management industry since 2015 and offering full property management service to hosts in Chicago, Aurora, Joliet, Naperville, Elgin, Kenosha, Waukegan, Cicero, Schaumburg, Evanston, Hammond, Arlington Heights and Bolingbrook.
Our dedicated team of professional agents will assist you with all of the daily tasks running your Airbnb listings. We will handle guest communication, calendar management, pricing optimization, maintenance, cleaning and laundry, emergency response, keys management, and so much more.
Years on the market
Offering Airbnb Management Services in Chicago since 2015
Per booking
Most Competitive Airbnb Management Rates in Chicago
Properties
Largest Airbnb Management Portfolio in Chicago
Forget about the stress of Airbnb property management in Chicago and let our team take care of your guests so that you can relax and enjoy your free time while earning more from your investment. Your hassle-free Airbnb management experience in Chicago begins with three simple steps:
“It’s been a smooth ride so far with our agent at Masterhost. He is experienced and very professional. Many thanks!”
“Absolutely the best Airbnb management company in Chicago. We’ve tried a few and MasterHost definitely stands out.”
It is a known fact that most countries, provinces, cities, and often even strata buildings have special rules and bylaws that directly or indirectly regulate the Airbnb licences in Chicago that are required to list on the platform. MasterHost will be your trusted and knowledgeable source of information in this complex process. We will guide you all the way when it comes to working with the municipalities and building stratas ensuring that you meet the Airbnb licensing requirements in Chicago.
When it comes to making your listing stand out from the competition, superior Airbnb Interior Design in Chicago is among the top priorities. This in turn will allow you to significantly increase guest traffic. It is crucial to understand how your property should be staged in order to highlight the key features. This will affect your bookings and experience of your guests. Let our Airbnb Interior Design partners improve the aesthetics of your property in Chicago and increase its value.
The first impression counts the most and that is a fact! Investing in Airbnb Professional Photography in Chicago is one of the most important steps you will need to take during the Airbnb rental journey. MasterHost will arrange for our Airbnb photographers in Chicago to make your listing stand out from the rest.
We know the short-term rental and vacation management industry in Chicago inside out and over the years we have seen it all. Our goal is to connect you with the most trusted home insurance providers. Only with them can you have peace of mind and be certain that your home and your guests are safe and insured during their stay.
We work hard to stay up to date with Airbnb Search Engine Optimization (SEO) in Chicago. With years of experience and constant improvements, we continue getting our clients’ listings in the top Airbnb search results. We use many different strategies and analyze response rates, cancellations, headings and listing content, photos, reviews, and much more.
Because of the nature of our business model and unlike most of the competition our main priority is to achieve highest occupancy rates at the top nightly prices. MasterHost employs many Airbnb Price Optimization tools in Chicago and uses Big Data competitive analysis, seasonality, hotel industry, and local events. This allows us to stay ahead of the competition.
The main elements of our Airbnb Booking Management in Chicago are calendar management, multi-channel capabilities, guests vetting and communication, instant booking settings, price optimization, and booking confirmation. Most of this work is completed before the guests arrive behind the scene.
We ensure that the most challenging part of Airbnb property management in Chicago is handled with ease. If done incorrectly it can easily destroy the guests’ entire experience. Yes, you’ve guessed it – we are talking about Airbnb key exchange management in Chicago. We will make sure to provide your guests with seamless 365/24/7 access to your property. No matter what time of the day or night they arrive you can be certain that they will enter your property.
When you sign up with MasterHost it will be our job to prepare a custom Airbnb Guest Book that will be distributed to all future arrivals. The Guest Book will highlight your property listing the most important instructions about the unit, the parking, amenities, emergency contacts, WiFi, house rules, strata bylaws, trendy restaurants, and coffee bars in Chicago.
What is Airbnb Concierge Service in Chicago? Often overlooked by inexperienced hosts this is a crucial element of our overall Airbnb Management Strategy. It can earn you a significant added cash flow when executed correctly. For example, we can offer your guests services like guided excursions and tours, Airport pick-ups and transfers, booking tickets to local events and shows, reserving space at restaurants and so much more.
We will share our corporate secret with you and let you know the most common reason why hosts fire their Airbnb property managers before switching to MasterHost. Poorly executed Airbnb Cleaning and Laundry get mentioned most often in the negative reviews. We understand that our cleaners’ performance directly impacts the reputation of your listing. That is why we take Airbnb Cleaning in Chicago very seriously. We invest in training and building our cleaning team to offer you a 5-star hotel cleaning experience in Chicago.
Preventative Airbnb property maintenance in Chicago remains on the top of the list of all sophisticated Airbnb investors and for a good reason. If you complete them on a regular basis you can prolong the life expectancy of your real estate investment. The last thing you want is a loss of revenue in the middle of your peak season because you have failed to perform routine maintenance of your property in Chicago.
Based on the latest short-term rental market statistics Airbnb is the most popular platform in Chicago with 92% of the market share. VRBO/HomeAway is standing in second place with a market share of 5%. Booking.com and TripAdvisor have the third largest share of the market at 3%.
MasterHost uses all tools at our disposal to achieve superior results. One of the most important tools is Airbnb management software with multi-channel capabilities and native integrations. With this software at hand, we are able to reach 99% of the entire Chicago short-term rental traffic. Achieving maximum occupancy rates throughout the year for your Airbnb property has never been this easy!
10%
per booking
12%
per booking
8%
per booking
Airbnb Insurance Consulting
Airbnb Key Exchange
Airbnb Cleaning & Laundry
Airbnb Property Maintenance
Airbnb Guests Communication
Airbnb Listing Creation
Airbnb Listing SEO
Airbnb Booking Management
Airbnb Price Optimization
Airbnb Guest Screening
Multi-Channel Management
Payment Processing
Airbnb Guest e-Book
Airbnb Concierge Service
Airbnb Licensing Support
Airbnb Interior Design
Airbnb Photography
What Does Chicago Airbnb Market Look Like?
AirDNA reported 6127 active rentals in Chicago. 90% of the total are listed on Airbnb. Chicago is one of the most affordable destinations in the USA. The price-to-rent ratio is 20:1. The recent study displayed the cash-on-cash ratio as 1.24%. Covid-19 afflicted the market from within. The quarterly rental growth has recovered and is currently at 13%. You won’t find exclusive amenities in abundance in the city. The basics- air conditioning, parking, internet and heating are common among the winners. Blueground is the best-performing property manager currently.
Is Running an Airbnb Business Profitable in Chicago?
Chicago offers vacation opportunities to visitors at affordable prices for the mass. Volume is guaranteed in such a market. How you milk this opportunity depends on you. Profitability depends on your operation. Based on the current active rentals in the city, the average monthly revenue is $2791. Peak season can take the revenue over $4000 monthly with an occupancy rate of around 80%. It is a profitable yet risky market currently. The properties are not always doing well. You have to enter the market with a bulletproof plan.
How is Airbnb Business Regulated in Chicago?
Hosts must register and renew their shared housing units directly through the Department of Business Affairs and Consumer Protection’s Shared Housing Registration Portal. All hosts, not just those with shared housing units, are mandated to include their license number in the listing advertisement. For stays of 29 nights or less, Cook County additionally levies a 1 per cent hotel accommodations tax on the listed amount, and Chicago levies a 4.5 per cent hotel accommodations tax, a 4 per cent shared housing surcharge and a 2 per cent domestic violence surcharge on the listed price. The State of Illinois additionally levies a number of hotel taxes that might be applicable to your listing.
Why Choose MasterHost as an Airbnb Management Company in Chicago?
You have to take balanced steps in Chicago for developing a profitable business. Every decision should favour the listing’s development. MasterHost is your opportunity to deal with the market efficiently. We know the guests; we know how to make them happy. You can turn to MasterHost at any stage of building your business, and you will find a helpful service to solve your problems. MasterHost assists you reaching your audience better through SEO services. It helps you in creating a captivating listing with enchanting interior designs and irresistible photographs.
What Are the Airbnb Daily Rates in Chicago?
The average daily rate in Chicago throughout the year is $192. During peak seasons, it reaches $244, and in slow seasons the daily rate caps at $167. Chicago is the city of skyscrapers and art. From architectural excellence to astonishing museums, every attraction affects the pricing of your property. The proximity to the tourists’ favourite spot is the key factor, besides the amenities offered.
What Are the Most Popular Rental Platforms in Chicago?
Airbnb, Booking.com, HomeToGo and Holidu are the four leaders in the Vacation rental kingdom of Chicago. These are favourites of the guests as well as the hosts. Holidu is easy to use and comes with a synchronized calendar for your listings on multiple platforms. Airbnb is one of the most popular and trusted platforms across the globe. Booking.com is the go-to short-stay rental platform for amazing deals. Lastly, HomeToGo brings together the listings from various sites for increasing your reach and decreasing the guests’ work.
What Are the Airbnb Rental Types and Sizes in Chicago?
In Chicago, you will mostly find entire homes. Only 20% of rentals offer private and shared rooms. Rest all earn their income through the spacious homes in the city of Chicago. Single- and double-bedroom properties rule the short-stay rental segment in the city. For a low-budget solo traveller, a studio is also offered by 8% of the active rentals. 30% of listings with 3 plus bedrooms are waiting for groups of 5-6 people to plan their trip to Chicago.
Is There Any Seasonality in Airbnb Business in Chicago?
Chicago’s winters are not very famous amongst the visitors. Whereas summer is loved by everyone. The warm weather, mesmerising view and grand festivals are the highlights of the peak season for Airbnb hosts in Chicago. Seasons play a crucial role in the city’s vacation rental market. The difference between the occupancy rate in the slowest and the busiest month is 48%. In July, the occupancy rate reaches 83%.
What Are the Minimum And the Average Stay Duration in Airbnb Rentals in Chicago?
Only 23% of the total listings restrict the minimum stay duration to 30 days. The majority set the minimum mark as 2 nights. The latter helps in getting scattered bookings even during the slow seasons. The city of Chicago has banned single-night stays in short-term rentals. On average tourists spend 3-4 days in the city. They experience the adventure and set off.
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