Four Partners Essential To Building A Successful Vacation Rental Business

By Elite Destination HomesVacation Rental Management

The vacation rental business is growing at a rapid pace and can serve as a great way to offset a vacation homeowner’s mortgage and maintenance costs. However, homeowners may shy away because of the hours required to manage bookings and the effort needed to meet the demands of this complex industry.

Good news, there are a number professionals you can partner with that will make diving into the vacation rental business much less daunting.

Property Manager – Ensures Your Home is 100% Guest Ready

Choosing someone to manage the maintenance of your home will be crucial to the success of your vacation rental business. Your property manager will oversee housekeeping and handle all property maintenance. They should be well connected in the area as they will be helping you hire and manage the housekeeper, pool service, exterminator, landscaper, air-conditioning service, etc., They will ensure any repairs are taken care of and that household supplies are in stock. We recommend you build a house inventory that can serve as their shopping list for getting your home set-up. Then, have the property manager use it as checklist after every guest visit to assess for damages and ensure everything is in working order and in stock. Something will eventually go wrong, so you want a person with a sense of urgency who will respond quickly and stay in communication while they are getting the issue resolved. (Read more about the importance of a property manager.)

Concierge – Creates Memorable Experiences

Choose a concierge who is passionate about the area and about creating memorable experiences for guests. You want someone who is creative, fun, energetic, bright and connected with what’s going on in your area. Someone you will look forward to seeing when you visit.

Your concierge’s main role is to make your guests feel at home and well cared for so choose someone who is willing to contact the guests before they travel to discuss pre-arrival arrangements.  Have them greet your guests with a welcome gift and provide a tour of the house and property explaining how the appliances and electronics operate. They should make your guests aware of the cleaning schedule and provide them with an itinerary. You want someone who can help your guests have an authentic local experience by offering recommendations to the best neighborhood merchants and restaurants as well as unique local activities. If an extra bed or towel is needed, they are on call to cater to the vacationer’s every need. In case of emergency your concierge will be your guests’ first point of contact, which will help you rest at ease even if you are halfway across the globe.

Housekeeper – Makes Sure Your Home is Spotless

Hire a reliable and detail oriented housekeeper with strong references. You want someone who will be on time, work hard and be willing to look in the corners for dirt. Choose a person who cleans from the top down, starting with the chandelier and finishing with the floor. We recommend choosing someone with staff so when there is a small window of time between guests they have options for who they can deploy. And we suggest scheduling a test-clean when you are in town so you can ensure standards are understood and met.

Create a checklist to be used each time the home is cleaned and establish a set rate per cleaning. Determine a consistent cleaning schedule, typically mid-week and immediately following the guest’s stay. Keeping a clean home is fundamental to a successful vacation rental business.

Vacation Rental Agent – Secures Qualified Bookings

Marketing your home as a vacation rental is both a complex and competitive business. Hiring a professional vacation rental agent will give you peace of mind that your home is well positioned and broadly distributed. At Elite Destination Homes we’ve been successfully marketing luxury vacation homes since 2005. We can help you set your rates and position your home against competition. We will promote your home across 20+ international online channels and with the top travel agents. We respond quickly and professionally to inquiries and have a growing database of discerning clientele that we continually market to. We review occupancy, revenue and promotions weekly to turn open calendar dates into booked vacations. Our sole focus is on maximizing rental revenue. Learn more about our vacation rental marketing services and see how we compare to other vacation rental agent options.

Successfully renting out your vacation home may seem daunting.  However, with the help of professionals you can build a lucrative vacation rental business and still carve out the time to truly enjoy your vacation home.

Ready to dive in? If you start with us we can help you get the rest of your partners in place. We can also help you get up and running by leading you through our tried and true process for setting up a vacation rental business.