After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
If you own a vacation home that you rent out when you are not staying in the space, you may be struggling to fill the home or care for it if you live out of town. There are many benefits to hiring a property management company to help you with a vacation rental. Here are three key ways that a property management company can assist with vacation rentals.
They Can Help to Advertise the Property
One of the ways that a property management company can help you with your vacation rental property is by advertising the property for you. When it comes to vacation rentals, you may have to advertise in many spots to help increase occupancy and decrease vacancies. Many people have no idea where and how to advertise a rental property. A great management company knows how to advertise for the area your rental home is located in to help draw vacationers in.
They Can Handle Deposits and Payments
Another benefit associated with hiring a property management company to help you manage your vacation rental is that the management company can handle deposits and payments. Taking payments for a vacation rental is very different than accepting a monthly rent check from a long term tenant. You have to collect a deposit when someone books your home, and then you have to collect payment, along with any taxes and city occupancy fees, when they check in. There is a lot of accounting involves. A property management company can handle all of this on your behalf.
They Can Tend to the Property
The final benefit associated with hiring a property management company to care for your vacation rental is that a property management company can tend to your property. They can hire maids to clean the home between guests. They can hire contractors if something breaks. And they can do routine walkthroughs to look for damage and maintenance issues. If you live out of town, this can be challenging to do on your own.
Managing a vacation rental can actually be more time-consuming than handling a normal rental home, as the number of people coming and going is much higher. If you own a vacation rental but it is too hard for you to manage, you are struggling to fill the home, or you simply want to sit back and cash a check, hiring a property manager to manage your property may be the right move for you. Contact a property management company today to discuss your needs and how this type of company can help you.Share