24 Sep 2021
If you own a vacation property or are considering one, then you’ve no doubt thought about everything that goes into owning a vacation rental property (other than the income from the investment). As with all things, not every vacation rental management company is the same in terms of fees, structure, or quality. To pick the right one to manage your vacation investment, learn how vacation rental management works before signing a contract.
What Goes into Vacation Rental Management?
Vacation rental management is a round-the-clock job. Vacation rental management companies:
Advertise places to stay, which includes managing listings
Communicate with travelers answering questions and providing support
Facilitate insurances and securities for travelers
Book listings and manage payment
Ensure properties are cleaned, maintained, and stocked for the next guest
Solicit feedback and reviews from travelers regarding their experience
Note these are just some of the services involved in vacation rental management; some services, such as cleaning are extra or are passed along to the guest. Further, some services like emergency maintenance and repairs, pool or hot tub maintenance, biannual or annual deep cleaning, etc. are extras not part of the vacation rental management company’s general contract.
Importantly, the company that you work with may offer more; they may offer less. Some also have a la carte services in which you can select a basic vacation rental property management package and then selectively choose the rest depending on your situation. For example, you might want to do the cleaning yourself or hire a separate cleaning service. Whatever they offer and you agree to will be part of your contact and will impact what you’re compensated and how.
What’s Most Important in Vacation Rental Management?
That said, when looking for a vacation rental management company, look for a company that has the following:
A proven track record with other property owners (ask for references especially among property owners in your area or with your type of property)
Great marketing and strong guest reviews (read the reviews guests have left on the properties the company manages to determine if they are meeting satisfaction in terms of property function, maintenance, cleanliness, etc.)
Services that you need; if you have a pool, golf carts, spa, etc. that you need inspected after each visit, make sure the company provides those services
A transparent contract and fee structure
A good rapport and excellent communication with you (for example, some companies have digital portals for property owners as well as 24-hour access to communication)
Again, a vacation rental is an excellent addition to your investment portfolio, but what makes it really work for your is by finding a vacation rental management company with a tried-and-true record of success and a big reach to those who travel in your community.
Are you looking for a vacation rental management company on the Emerald Coast? If you are, contact us at My Vacation Haven and let us show you about how our vacation rental management works.