The short-term rental industry has evolved over the last few years. Led by Airbnb, several online businesses have been providing guests with unique, comfortable accommodations around the world.
With short-term leases yielding big payouts for homeowners and investors over long-term rentals, you might find managing a vacation rental to be financially rewarding. When you have an extra home, it makes sense to take advantage of its value and make some extra income with it.
However, managing a rental requires a significant commitment of effort and time. If you’re having a hard time marketing your rental, figuring out how to clean it after every guest stay, and managing bookings, have a property manager assist you.
How a Property Manager Can Help
Hiring a property manager for your rental is in your best interests for the following reasons:
1. Earns Profit Without the Labor
A professional property manager optimizes prices, so you don’t have to guess if you’re charging a reasonable price for your guests. They also handle the labor that comes with cleaning the property after every guest stay.
Property managers can also advise you on how best to improve your property to make it attractive to guests. For instance, they can arrange walkway repairs from Salt Lake City for your rental to upgrade its curb appeal.
2. Provides Customer Service
A property manager can help you provide a superior level of customer service. They can answer customers’ questions while you’re not available, from fixing faulty lighting to recommending places to explore.
3. Saves Time
You want to be an excellent host, but you also have responsibilities with your work, family, and friends. Property managers manage the daily details of managing booking details, welcoming guests, and making sure they have the best stay. This leaves you with plenty of time to work and spend time with your loved ones.
Finding the Right Property Manager for Your Rental
Make sure to consider these factors to find the right property manager for you:
Knowledge of the Area
The property manager should know the local market—its high and low seasons, popular property types in the area, and local regulations.
Fees and Terms
Find out if you can afford to pay the property manager’s contract fees while meeting your rental income goals. Question clauses on the contracts, especially those that involve performance. Make sure that the terms also prioritize guest experience.
Ask if the property manager if their fees include services like listing, marketing, photography, maintenance, and in-person visits for issues that may arise during a guest’s stay. The answers to these questions will help you determine if you’re getting the most out of their service with their fees.
Marketing Your Property
Understand their marketing plan. Aside from their website, will your property be listed on major sites like Airbnb and HomeAway? Will they be using search engine optimization to improve your rental’s online visibility? How do they ensure repeat business?
While managing a vacation rental comes with many responsibilities, some services will make things easier for you. Hire a property manager to handle your rental so that you can focus on other activities.