So you’re ready to rent your vacation property and can’t decide whether to give the keys to a management company or to manage your property yourself.
While it may feel like you have more control over your vacation rental property if you manage it yourself, chances are you will actually benefit more if you hire a management company to do the work for you.
In this post, we’ve outlined five great reasons why you should list your rental property with a management company as opposed to doing all of the work yourself. Some of the benefits include saving time, making more money, and gaining freedom in your life by letting a property management company such as Premier Vacation Spot take care of your vacation rental property listing.
Ever wonder how you’re going to ensure you have awesome tenants booking your vacation rental? What about getting the best ones back? Not looking forward to dealing with renter issues?
If it seems daunting to potentially rent your space to a bad renter, hiring a management company can be a great way to weed through the bad vacationers and even keep awesome renters coming back season after season.
Whether you gear your getaway toward couples, families, or groups of friends, listing your vacation rental property with a management company is a smart move. A great vacation property management company will work with you to market your property in a way that attracts the renters you want in your vacation home.
The management company will also deal with bad renter issues. Hiring a company to manage your vacation home can save you the headache of dealing with legalities and paperwork or other issues that may arise (such as damaged furniture or stolen items from your property!), which can save you a lot of time and frustration in the long run.
Another reason to hire a company to manage your vacation property is to have professionals in the industry act as your customer service team.
Communication: a great management company will have impeccable response time to your renter’s needs and questions. Many companies offer response services 7 days a week, and up to 14 hours a day! Think about the time that would save you from needing to be available to your renters if an issue arose.
And because they focus solely on managing other people’s properties, hiring the right company will ensure a quality team of knowledgeable people who have plenty of experience dealing with renter issues, property maintenance issues, and more. A good management company works with a variety of properties in many different locations and offers well-rounded expertise on managing vacation rentals.
Sometimes, the potential maintenance or renter issues alone are good enough reason to hire an experienced, established company to manage your vacation property. Many management companies can immediately and professionally deal with issues that arise based on their customer service experience and their relationships with maintenance companies located near your rental property.
If you are not an expert in the industry, it can be extremely stressful to deal with such issues. A staff that is highly trained to do so will offer better customer service to your renters than you might be able to when an issue arises – especially if you are not living near your vacation property. Good customer service will be another reason why your best renters will rent your property again – or recommend it to people they know!
Proximity to Your Property
If you live far away from your property as many vacation rental property owners do, having a management company handle your property is a great way to ease the pain of traveling a lot to deal with your rental.
A management company can handle all things related to your property so that you don’t have to travel last minute when, for instance, a pipe bursts, the power goes out, or a renter locks themselves out of your vacation home.
Hiring a company to deal with the random problems so you don’t have to is definitely worth the investment compared to the cost of traveling to your property when the need arises. Some property owners may have a friend or family member whom they rely on when such issues present themselves – but you can’t beat an experienced team at a property management company when it comes to immediate, expert response. You could literally save hundreds of dollars (not to mention a few headaches) by hiring a property management company for your vacation rental.
Less Stress on You
Saving both time and money also means you’ll be less stressed out about your vacation rental property. The time it takes to truly manage your property well can sometimes come along with a boat load of stress, especially if you are already working full time and do not have the appropriate availability or amount of time to spend on taking care of your vacation rental.
A vacation rental management company can take care of marketing your property (making sure it’s attracting the type of renters you want), securing bookings, processing payments and paperwork, communicating with renters, booking maintenance, and much more.
Not only will you need to spend time at the property to fix things, but regular cleaning and maintenance are absolutely essential to getting renters to book your place more often – and therefore earning more money.
Less Work = More Free Time
Your money is worth your free time. When you decide to hire a company to manage your vacation rental property, you will have more time to spend on other things.
Without the burden of regularly checking your bookings, connecting with renters, and cleaning or working on your property, you can spend more time with your family, your friends, working on other projects, or going on your own vacations.
Perhaps more vacation rental properties are in your future? Let a management company take a load off to free up some space for you to find your second vacation rental property to purchase!
Sum it Up
You should by now know that if you’re looking to make more money on your vacation rental and reduce the stress brought on by managing it yourself, hiring a property management company is the best choice to make.