When deciding to rent out your vacation home your first question may be, “Do I need a property manager for my vacation rental?” If you are looking to generate substantial income and not looking for a second job, the simple answer is yes.
In order to run a successful vacation home rental operation, you need to put your business hat on and start thinking about your second home as a revenue stream. Getting the appropriate support staff in place will be key to your rental success and will also help you protect your home as the vacation getaway you always intended it to be.
Property maintenance is a constant for homeowners and maintaining a second home an airplane trip away can be both time consuming and challenging. Hiring a local property manager to handle the maintenance and upkeep of your vacation home will give you the peace of mind you desire while also ensuring your home is in tip-top shape for renters. It is critical that your home be well maintained to ensure the best possible guest experience. Positive experiences lead to positive reviews, your best form of online marketing.
We recommend hiring a property manager who is well networked with service providers in the area as this person can help hire and oversee your housecleaner, the lawn and pool service companies, window washers, etc. For repairs, they will tap into their network and get multiple bids and check references to ensure the best people are hired for the job.
Your property manager should be put in charge of all household supplies. They can help you create a home inventory and take care of shopping when it comes time to replenish or replace.
During a guest’s stay, your property manager should be on call to handle any repairs or issues that arise. After every stay, they should do a review of your home to check for any damages and ensure everything is in working order and well-stocked for the next visit.
To ensure there are no surprises, your property manager should help you set a budget for the home and be put in charge of a house bank account. They can use this account for receipt of rental revenue and for payment of all recurring bills. These funds can be accessed for replenishing household supplies and for covering miscellaneous repairs.
We cannot stress how important a top-notch local property manager is to your vacation rental business. However, they’re not the only partner needed; a house cleaner, concierge and vacation rental agent should also be part of your rental team. Some property managers’ capabilities may include house cleaning and concierge duties, however most property managers lack the expertise needed to navigate the highly competitive and complex world of online marketing. For this role you need an experienced sales and marketing professional who can drive qualified leads and secure bookings. And that’s where we come in. Elite Destination Homes is a vacation rental company that’s been handling vacation rental marketing for luxury homes since 2005.
Still questioning, “Do I need a property manager for my vacation home?” Maybe you’re now wondering how to find one? In either case we can help. We have local property manager partners in over 20 international destinations and are well connected in the vacation rental business. If you choose us as your vacation rental agent we can help you source a top-notch property manager.