If you’ve started the search for the right company to manage your vacation rental, you know what an overwhelming task it can be. Ask the following questions before you enter into a partnership, to be certain you find a good fit.
First, ask whether the company handles all cleaning and maintenance vendors, and whether they conduct routine property inspections. A quality management company should have a clear focus on caring for your asset. For example, they should make it a policy for all guests to purchase damage waiver protection plans to cover property damage and loss.
Next, ask whether the company’s management involves global marketing and partnerships with all major travel websites. Do they also use innovative marketing strategies like search engine optimization, strategic database marketing, and Facebook remarketing? Do they have enough staff to quickly respond to guest inquiries? And on the subject of guests, do they have staff that will greet each group upon arrival, deal with any issues they might have while in house, and offer concierge services?
A good management company should also have a plan for the initial setup of your property so that it performs well from the start. At a minimum, they should conduct a thorough inventory of the home and help you stock anything that’s missing, obtain professional photography, and assist in quickly getting positive reviews. They should also have a plan for ongoing market analysis, and ideally use cutting-edge tools like dynamic pricing software, to ensure a maximum return on your investment.
Finally, ask whether the company offers different levels of service for different management commissions, and whether they have any hidden costs or extra fees. Confirm that they pay the listing fees charged by websites like Airbnb and VRBO, and that guests pay cleaning fees and credit card fees. Ask them if you’ll get a statement that shows you exactly how much money is coming in and going out each month.
Armed with all the information above, you’ll be sure to make a wise decision about the best management for your vacation rental!