Vacation rentals are a lucrative way to earn income. However, many people are turning to Airbnb property management companies for their short-term vacation rentals. Rental management provides many benefits such as freeing your time to focus on other aspects of your life. It is critical to choose the right property management company though. Here are some important things to consider when it comes to selecting the best vacation rental property management company.
Vacation Rental Marketing Services
Perhaps the thing that takes the most time for owners of short-term rentals is marketing. Between listing rentals on various booking sites, responding to inquiries, and taking reservations, there is a lot of work to do. One of the biggest benefits of an Airbnb property management company is offboarding these tasks.
However, it is critical to ensure that the vacation rental management company you work with takes care of actively marketing your properties. You want a company that will ensure their listings on all of the most popular booking sites in order to attract the widest possible audience. This is a key step in ensuring that your rentals are consistently occupied, keeping revenue coming in. www.poconotoprentals.com
The best vacation rental management companies will conduct direct marketing in addition to passive marketing. Rather than simply leaving your properties on websites for people to find, these companies will leverage their existing database of past clients for marketing campaigns. This will enhance your occupancy rate and has the potential to greatly increase your annual revenue. This is an extra step not provided by many companies but worth looking into.
Care for Your Airbnb Property
While marketing is certainly a time-consuming task, another thing that will increase peace of mind in your decision is knowing your Airbnb property management company is taking good care of your short-term rentals. There are numerous things that go into maintaining properties including cleaning between guests and seasonal maintenance and repairs.
The best vacation rental property management companies will have staff on the ground where your rentals are located. This helps ensure that they are cleaned up to standard between rentals, meaning that the next guests will be pleased with the condition of the property. Having staff on hand also enhances the responsiveness to customer concerns during the course of their stays.
Of course, one aspect that many companies cannot provide is addressing maintenance and repairs. Top companies will rigorously inspect for potential concerns and damage between stays, helping you select trusted vendors for any services needed. The most successful companies have relationships established with tradesmen and handymen that are able to do a job well for an affordable price when needed. Leveraging this expertise is an added benefit of selecting a good Airbnb management company.
Stay Abreast of Trends
The short-term rental market changes frequently. It is critical that you select an Airbnb management company that spends time monitoring trends in order to keep your property a lucrative one for potential clients. This typically requires a multifaceted approach.
First, the best vacation rental management companies have their fingers on the pulse of the market. They are able to monitor the going rates of comparable properties in the area in order to offer competitive pricing that maximizes your revenue while keeping your property occupied as often as possible.
While monitoring price is one important aspect of staying on top of the market, another is understanding the amenities and features desired by your segment of the market. This is particularly important for those with high-end vacation rentals. Whether it involves fitting your Airbnb with the right furniture or doing remodels that will improve its value on the market, finding a comprehensive property management company that assists with these things can boost your bottom line.
Understandable Fee Structure
With short-term rental property management companies providing a wide variety of services, it is no surprise that many also have a wide variety of fee structures. In some cases, this can become quite confusing for the property owner. No one wants to have to get out a calculator in order to figure out what they will be paying during the next billing cycle.
Most property owners prefer a vacation rental property management company that has a simple, easy-to-understand fee structure rather than complex ones that can vary over time. For those people, seeking out simpler fee structures can be an important consideration. Fortunately, some companies offer a clear fee inclusive of all their services.
Protection of Your Assets
Your vacation property is a valuable asset and something that deserves protection. However, we all know that accidents do occur from time to time. Thus, an important question to ask when evaluating potential property management companies is whether they provide additional insurance on your property. Some companies will include small insurance policies with each booking that covers the accidental damage that occurs now and then with occupied properties, a service that adds up in value over time.
Another fear that many short-term vacation homeowners have when it comes to renting their properties is the threat of chargebacks that can take away their rental income after the fact. The best vacation rental property management companies institute a no-chargeback policy, ensuring that any chargebacks are not passed along against the owner’s bottom line. These companies are typically ones that do a thorough job of vetting potential guests and providing strong customer service, minimizing the likelihood that a chargeback will occur in the first place.
Help with Bureaucracy
If you own property, you know that there is paperwork that comes with this fact. For people with vacation rentals, there is often additional paperwork such as licensing and permitting. This can not only be cumbersome but can also be easy to forget about. Fortunately, the top companies will add these aspects to their to-do list including annual re-permitting when necessary, making it a valid thing to inquire about when interviewing companies.
One thing no property owner wants to experience is forgetting a key deadline. This could result in their property having to come offline while you jump through bureaucratic hoops to ensure that your property is back in good standing with the local government. Add in the fact that these policies vary by locality, and it can be frustrating. With a good vacation rental management company, you won’t have to worry about this.
Ready to Offload Your Stress to the Professionals?
If you are seeking an Airbnb management company for your short-term rentals in the Poconos, we would welcome the opportunity to serve you. Feel free to look around our website to learn about the service we provide. If you would like more information, we are happy to provide you with a free rental evaluation. Above all, we want to empower you to make an informed decision that meets your needs.