Outsourcing your vacation rental management will relieve you of all the headaches and stresses managing a vacation rental can give. Paying a monthly management fee is far better than hiring outside help to clean and maintain the vacation rental, get it ready for occupancy and provide in-house service when a client arrives. They can provide consistent and efficient service, which is more than what a rental owner is willing to give. They have the expertise and resources to provide the best service possible and they have to maintain a certain standard to be at par with competition. Here are the steps to find a vacation rental management agency.
- Check listings in the newspapers and yellow pages. Search the web for realtors and property managers and property management associations. These vacation rental management agencies usually have websites where they list the vacation properties that they manage. Try to get in touch with the property owners if this information is available and check their satisfaction rating, their experiences dealing with the specific rental management, their rates and the services that they offer.
- Make a short list of agencies that you are considering and get in touch with them. Call their customer service hotline and make inquiries. Visit their website to learn more. Know which types of vacation rental properties they manage and if your own vacation rental qualifies.
- Find rental management agencies that local to the area where your vacation rental is. This will greatly facilitate access to your property; provide immediate assistance when needed and able to get in touch with you directly instead of dealing with a third party. They will also be able to advise you on the required repairs and remodeling needed to make your vacation rental competitive. In times of inclement weather, a local manager can readily make repairs.
- Check out what conditions the property management agency requires before you place your property under their management. You can determine that from the types of vacation properties they manage. Some property managers go for niche management and will only manage properties fitting this niche.
- Once you have identified the properly management agencies, call and set up a meeting to discuss your property. You should send pictures of the exterior and interior of your vacation rental with description and location prior to the meeting.
- Make sure the property management agency is a licensed real estate broker. Ask for referrals, testimonials and references. You should make sure that the company has insurance coverage.
- Check their vacation rental management industry affiliation and membership. Go to the Vacation Rental Managers Association website to check.
- The property management agency you get should only be engaged in property management and not in selling properties. If they are not able to enter an agreement with you, ask them for referrals and recommendations.
- Inquire about their accounting and billing process, their rates and all the management fees. You should also check all the included services in their management contract and the extent of marketing and advertising they will provide for your rental property.
Once you enter into an agreement, the outsource vacation rental company will be your business partner. You should work together to ensure the comfort and satisfaction of guests therefore you need to choose the right vacation renal management company when you decide to outsource the management of your property.