Part of the Short-Term Rental Management Guide, step 2: compare
Before You Start Reading
Ask for the full agreement, with every schedule and fee sheet attached, before you commit to anything. Read it with three questions in mind:
- What does it cost me in dollars, on a normal booking and over a year?
- What can the manager do without asking me, and what needs my approval?
- How do I leave, and what do I walk away with?
If a promise was made on a call (about owner stays, a repair limit, a fee waiver), check that it is in the document. Anything not written down is hard to rely on later. The 24 questions to ask a property manager make a good companion list.
The Clauses, One by One
Term and Renewal
How long the agreement runs, and whether it renews automatically. An auto-renewal with a short window to cancel can carry you through a season you meant to change. Note the renewal notice date in your calendar the day you sign.
Termination: Notice, Cause and Fees
Look for three things: how much notice either side must give, whether you can end it without cause, and any termination fee. Also check what the manager can terminate for. A fair agreement lets both sides leave on reasonable notice, and spells out what is owed on the way out.
Who Owns the Listing and Its Reviews
This is the clause owners most often skip and most often regret. A listing can sit on your own platform account, with the manager working on it, or on the manager's account.
On Airbnb, a manager can work on your listing as a co-host. Airbnb's help center (as of October 2026) describes co-host permission levels from full access down to calendar-only, says the host can remove a co-host's access at any time, and says co-hosts cannot view or change the owner's payout method or taxpayer information.
If the listing lives on the manager's account instead, Airbnb's help center says there is no way to merge or move information or bookings between accounts, and that reservations cannot be transferred to a new host or account. So if you leave, you may start again with a new listing. Agree in writing whose account the listing uses, and who owns the photos and description.
Future Bookings After Termination
Ski weeks and summer lake weeks are often booked many months ahead. The agreement should say who honors bookings that fall after the end date, who services them, and who is paid for them. Common approaches: the manager services and is paid for stays already booked, or the bookings move to the owner and the manager's fee on them is waived or reduced. Any approach can be fair if it is written down.
Owner Use
How you block dates for yourself, how far ahead, whether peak weeks are limited, and whether a cleaning is charged after your stay. See planning owner stays.
Repair Approval Threshold
The dollar amount the manager can spend on a repair without asking you, and what counts as an emergency where they can act first (a burst pipe in January, a dead furnace with guests in the house). Also check whether vendor invoices are billed at cost or with a markup, and whether the manager charges for their own time.
Damage and Claims
Who documents damage, who files the platform claim, and by when. Timing is strict. On Airbnb, the help center says that within 14 days of the responsible guest's checkout, a reimbursement request should be filed in the Resolution Center, and it describes host damage protection that reimburses hosts up to $3 million, subject to its terms. An inspection after each stay is what makes that deadline realistic. The agreement should also say what happens to money recovered from a claim and who pays if a claim is denied.
Insurance and Indemnity
Which policies each side must carry, and who protects whom if a guest is hurt or a vendor causes damage. Airbnb's help center says its host liability insurance provides $1 million in coverage if you are found legally responsible for a guest's injury or property loss, with exclusions; it is not a substitute for checking your own policy. Ask your insurer whether your homeowners policy covers short-term renting at all, and read insurance and safety. Indemnity clauses should run both ways where it makes sense.
Payment Timing and Statements
Who receives the platform payout (you or the manager), when you are paid, how the manager's fee is deducted, and what each statement shows: bookings, payouts, fees, cleaning, supplies, repairs. Ask to see a sample statement.
Fee Definitions: Gross vs Net
The single most important definition. "Gross" may mean rent only, or rent plus cleaning and other guest fees, before or after the platform fee. "Net" depends on which costs come off first. Work the fee through on one sample booking in dollars; how management fees work shows how.
Exclusivity
Whether you may also rent the home yourself, list it on another site, or book friends directly. Many agreements give the manager exclusive control of bookings. Know what counts as a booking the manager earns a fee on.
Keys, Codes and Access
Who holds keys and lock codes, who changes them, and what is handed back at the end. Also: alarm codes, wifi, garage and gate codes, the oil or propane supplier, the plow contractor.
Taxes, Licenses and Registrations
Who holds the state rooms tax registration, who files returns, and who registers with the town. Platforms collect some lodging taxes but the owner usually keeps obligations. In New Hampshire, Massachusetts and Vermont the requirements differ; start with permits and licenses and write down who does what.
Clause Checklist
| Clause | What to look for | Red flag |
|---|---|---|
| Term and renewal | Clear end date, renewal notice window | Auto-renews with a very short cancel window |
| Termination | Notice period, exit without cause | Large exit fee and no exit without cause |
| Listing ownership | Your account, or a written handover plan | Listing on manager's account, silent on handover |
| Future bookings | Who services and is paid after the end date | Nothing said about stays already booked |
| Owner use | How to block dates, any limits | Peak-season ban not mentioned on the call |
| Repair threshold | A dollar limit and an emergency rule | Unlimited spending authority |
| Vendor billing | At cost, or a stated markup | Markups not disclosed |
| Damage claims | Who files, deadlines, what happens to recoveries | No inspection after stays |
| Insurance and indemnity | Required policies for each side | Owner indemnifies manager for everything |
| Payments and statements | Payout timing, sample statement | No itemized statement |
| Fee definitions | Gross and net defined in writing | Fee you cannot reproduce from the text |
| Exclusivity | What bookings earn the manager a fee | Fee on your own family stays |
| Keys and access | Who holds and changes codes | No return of keys and codes at exit |
| Taxes and permits | Who registers and files | Silent on tax registration |
How to Raise Changes
Most managers expect questions. Send your edits in writing, clause by clause, and ask for a revised copy rather than a side email. If the home is in an LLC or held with family, check who has authority to sign. For anything with legal weight (indemnity, liability, termination for cause), have a lawyer read it.
When you are comparing more than one manager, line the agreements up together with their proposals; see comparing management proposals.
New England Host Co
New England Host Co offers one full-service package, not priced in components, or co-hosting as a separate product. Owners pay license and permit fees, consumables (rebilled at cost), utilities, owner stays and repairs, with a repair approval threshold agreed with each owner. Read our short-term rental management guide for how the service works, and ask us to walk through the agreement for your home.
Back to the owner hub.
FAQ
What Is the Most Important Clause in a Management Agreement?
The fee definitions and the exit terms. The first decides what you pay; the second decides what you keep (listing, reviews, future bookings) if it does not work out.
Can I Take My Airbnb Listing with Me If I Change Managers?
If the listing is on your own Airbnb account, yes, you remove the manager as co-host. If it is on the manager's account, Airbnb's help center says bookings cannot be moved between accounts, so agree a handover plan in the contract.
Should the Agreement Set a Repair Limit?
Yes. A dollar threshold lets the manager fix small problems quickly while you decide on bigger ones, plus a rule for true emergencies.
Who Should File Damage Claims?
Usually whoever inspects the home after the stay, since Airbnb's help center gives 14 days from the guest's checkout to file. The agreement should name who files and what happens to the money.
This page is general information, not legal advice. Have a lawyer review any contract before you sign.
