Managing your vacation rental property, marketing it, keeping it rented and making it profitable requires a considerable investment of time and expertise. This is especially true if you do not live near your rental property, you own multiple properties or ownership of vacation rental properties is only one of your business ventures. A vacation rental property management company handles the day-to-day business and maintenance associated with the property while using their marketing and guest services expertise to increase revenue for your property.
Good vacation rental property management companies will make life easier for you. The following is a list of the services that a vacation rental property management company will bring to the table:
Complete care - A full-service vacation rental property management company will clean and inspect a property prior to a guest’s arrival to ensure a positive environment
Maximizing your return on property investment – A good management company works to match the guest with the property and location for the perfect fit. This means getting to know the guest’s expectations as well as the amenities and activities they are interested in. They will keep on top of trends in the vacation rental industry including tracking pricing in the area to ensure that your property is generating optimal income and is in line with a guest’s expectations.
Producing reservations through fast guest response - Their website offers easy navigation for potential guests to search for available properties and links to sources of local information, as well as online booking and payment options. A team responds to calls and e-mails immediately knowing that a first responder usually gets the booking. They will make contact following an on-line reservation to validate information and verify who will be renting.
Targeted marketing and advertising to increase revenue - Technology has opened up a wide array of options for advertising and marketing properties. Full-service vacation rental property management companies will employ their knowledge to market and advertise your property. They will know the right mix of traditional, Internet and social media to make your property available and attractive to potential guests.
Local and industry associations boost bookings and revenue - Establishing partnerships with leaders in the local community and developing associations in the property management industry expands exposure in both marketing and advertising.
Tracking and follow-up increase reservations and return visits - Tracking inquiries and following up on a guest’s experience will increase the likelihood of future bookings. Post visit surveys done by the company’s customer service staff and questionnaires can be combined with the latest tracking software to provide management companies with needed input on guest satisfaction or areas of improvement that would increase the likelihood of return visits.
Providing complete property care - Full service vacation rental property management companies will keep your property in the best possible condition from the inside out. A quick response to a guest’s maintenance requests ensures a positive experience and often keeps a small maintenance problem from turning into a larger one. Through regular property inspections, the vacation rental property management company will ensure that service and maintenance issues are addressed in a timely manner and communicate with owners regarding needed updates, repairs or replacements.
Handling the hassles so owners can enjoy the rewards - If a vacation home is not professionally managed, the owner is responsible not only for maintenance and upkeep, but for customer service offered to guests along with the billing and payment. When you use a vacation rental property management company, bookings, rent deposits and payments are handled for the property owner, alleviating a major headache of the rental process. Full monthly accounting statements provide all the detail you need to monitor your investment and simplify tax preparation.
Providing exceptional guest services - If a guest needs assistance during their stay, the vacation rental property management company should employ a response team to handle the issue professionally and expeditiously. From repairs to maintaining inventory to helping a guest find resources in an emergency, a vacation rental property management team can help in most situations.
Expertise on all things local – A good vacation rental property management company stays on top of local offerings, activities, events and attractions. They know the local information a vacationing guest needs to make their stay enjoyable and worry-free.
Whether you enjoy the challenges of vacation rental property ownership or view it merely as an investment, it would be wise to consider working with a vacation rental property management company that specializes in vacation and seasonal property rentals. They have the resources, expertise to increase bookings and boost revenue for your property. They deal directly with guests saving the owner both time and worry in marketing the rental, pursuing leads, booking reservations, handling basic repairs, collecting fees, and responding to guest needs. This provides not only peace of mind, but time to enjoy the real rewards of property ownership.