Overnight occupancy rates hit 60.2% capacity in Traverse City, Michigan, in 2022. After pandemic lows of 45.6%, our local tourism is rising once again. Now is the perfect time to raise revenue from your rental property!
Short-term property management eases the pressure on you. If you use short-term rental to boost your main income, you should think about teaming up with a property manager.
Before you get started, you need to ask the right questions. Be too hasty, and your investment may never reach its potential.
Our guide can help you choose proper property management. Read on!
1. What Short-Term Property Management Services Do They Offer?
Full-service property management takes care of all the details. You can sit back and watch your business grow without breaking a sweat. Look for property management in Michigan that offers holistic support.
Short-term property management helps you reduce downtime between vacation rentals. The longer your property sits idle, the more money you lose. Your property manager will market your property and give you an efficient platform for easy bookings.
Inspections, maintenance, and cleaning are time-consuming chores for most property owners. Property management enlists help from vetted contractors to do all of this. Your property will always be ready to rent and will be compliant with Michigan housing regulations.
2. How Much Do They Charge?
Quality is key here, so aim for the optimal balance between price and service. Try to save money with less than a full-service company, and you may lose money and business over time. It is worth investing more in service to give customers the ultimate vacation experience!
Premium property managers use top-class platforms with the latest technology. This reduces the chance of missed or double-booked rentals, guiding your customers through their hassle-free rental process.
Fees should be transparent from the start. Avoid short-term property management with hidden fees and extra charges. Examples include credit card fees, gross vs. net payments, and advertising costs.
3. How Long Have They Been in Business?
Reputation is everything in property management. Low-quality services tend to lose quickly in the Traverse City, MI, market. Never hesitate to ask about your property manager's level of experience; you can check their website for extra information.
Their local reputation should be top-notch. Check local reviews or ask your peers for advice. Social media is an ideal place to start, but aggregate sites are useful tools to find the best-reviewed local services.
Check how many properties they service. While a low number of clients hints at a low success rate, too many, and they may not have enough resources to manage them all. Ask how many contractors they use and what their turnaround time is for specific property management services.
Short-Term Property Management in Michigan
Short-term property management frees up your time and helps you maximize your return on investment. Use these questions to guide you to the right property manager for your business.
PMI Grand Traverse is your full-service property management solution in the Michigan area. We will handle everything, from bookings to maintenance and accounting. Our web-based approach widens your scope, offering advanced reporting and real-time updates on your property.
Need a free consultation? Get in touch!