Vacation rental property is a great way to make extra income but managing the property can be difficult. This is especially true if you do not live close to the property. Hiring a vacation rental property manager is a great option as this move can provide the following benefits and more.
1. Optimized Profits
Vacation rental property managers are knowledgeable about the areas they service. This means that they know when demand for a rental is highest, allowing you to earn a premium.
When demand is not as high, property managers change the fee to a more competitive price. This variable pricing model helps you keep your rental booked and maximize your profits.
2. Gain More Exposure
Part of a vacation rental property manager’s job is marketing your property to get it booked. They will utilize social media and effective rental platforms to gain a digital presence and increase your exposure.
3. Customer Service and Support
Your renters will often need some form of assistance, whether it’s simply to ask questions or to get help with emergency maintenance. Unfortunately, when calls, emails, and messages go unanswered for too long, you can lose business.
For example, if a potential renter reaches out to you for information on your property but you don’t answer their email in a timely manner, they’ll likely move onto a different property. Or if there is a call about a plumbing emergency at 3 am but you don’t hear it, your renter will likely leave negative reviews.
A property manager typically has systems in place to deal with such situations. For example, they’ll have someone available to answer overnight calls.
Or they might have an assistant that helps respond to emails. And often, they’ll know what plumber they can call for quick repairs. These systems and preparations keep your potential and current guests feeling valued.
4. Manage Regular Tasks
Rentals have to be cleaned and maintained in between guests – especially if you want guests to return and leave good reviews. A property manager will ensure that this is taken care of. Some have cleaners and maintenance employees while others will outsource the job. In either situation, though, you can trust that it’s taken care of.
5. Less Stress
One of the best things about hiring a vacation rental property manager is that you get all of these benefits without the stress. When necessary, your property manager will reach out if you need to be involved in anything.
Otherwise, they will manage the hassle while you reap the rewards. You won’t have to worry about 3 am plumbing emergencies, marketing, cleaning, or customer relations – but you can if you want. You can be involved as much or as little as you prefer, having your property manager take care of everything or only a few tasks.
Hiring a vacation property rental manager is a great way to maximize rental profits without increasing your workload. Before you choose who to hire, though, be sure you check reviews to ensure you get the best manager for your property.