Over the last several years, more and more vacation homes have been popping up around the United States. The demand has gotten so large that the vacation rental home market is now worth over $82 billion.
If you are someone who has an interest in the real estate industry, you may have considered buying your own rental property. However, you may not know anything about rental property management.
This is where a vacation rental management company comes in.
What can they do for you? Here are some of their most common responsibilities.
The first thing that a vacation rental management company can do for you is post proper photos of your vacation property. That means hiring a professional photographer to get the best photos possible of your property.
A professional photographer is more likely to have the proper camera equipment, know what photo angles of a property look best, think about the scenery of rooms photographed, as well as be aware of what lighting can benefit or hurt a picture.
Photos play a bigger part in getting bookings for a vacation property considering that 83% of people claim photos of a property are very important for this.
Think of the photos as the first impression of your property. They can make a difference in people deciding whether or not they want to learn more about your property.
Another thing that a property management company can do for you is market research for your local area. They can give you an idea of what you should be charging for certain bookings.
There are a few factors that come into play here. The most common ones include what neighborhood your property is located in, how big your property is, and what time of the year people want to book your property.
Your property manager may suggest surge pricing if there is a big enough difference between peak season and low season. If your rental property is by a beach, that could mean charging triple the normal rate for summer months compared to the low season.
Get a better idea of what your property's true worth is.
Finally, your property management company can take over all guest concerns while you can focus on the bigger picture for your property. These tasks include handling any concerns that a guest messages the property management company about.
Some take this a step further and take care of the entire check-in and checkout process for guests. They could either have someone come to the property to take care of that or come up with a self-service system that lets guests do this easily.
Learn More About Vacation Rental Management
These are some of the perks that you can get with vacation rental management. If you are an individual property owner, it allows you to get some help with these tasks.
That includes marketing your property, pricing it accordingly, and handling any guest concerns.
Do you want to learn more? Message us here with any questions that you have.