A vacation rental property, especially when it is in a good destination, is a great way to invest in real estate in your area. However, to have a successful vacation rental you need to manage it properly, which can be done with a vacation property management service. Here are some details for you to consider as you look for a professional property manager to handle your vacation property.
One of the first details that you can consider when looking for a property manager for your vacation rental is the types of services they offer. This also depends on the type of services you want to hire out. For example, if you are looking to hire a property manager to handle all the vacation management tasks and don't want to worry about any of the process, you can find out what services would be available.
Find out what type of advertising and marketing the vacation management company provides and how they go about finding and screening renters. You should also check out their website and see how it runs and how user friendly it is to successfully bring in renters. Is there also a way for renters to ask questions about the property if they have any?
If you want to handle some of the management along with hiring a property manager, be sure you talk to the property management professional to make sure that is possible and if you would get a discount on the services. If you want to handle, for example, cleaning the property out between each renter but you don't want to handle repairs to the house, you can arrange this between you and the property manager.
Ask About Contract Fees
When you decide to use a vacation property management company with your rental property you should also find out about all the fees that would be included in your agreement. How much will they charge you for a sign-up fee or will they charge a renter finder fee each time they complete a booking? You should find out if they will require a percentage of the rental income based on if the rental is a weekly, monthly, or daily fee.
You should also make sure there is a contract clause in place that would allow them to make repairs under a certain amount and when they need to get your approval for any repair costs that exceed a certain amount. For example, if your vacation rental needs a new sink disposal installed, which might cost a couple hundred dollars to repair, do you want the property manager to get your authorization to make the repairs or can they handle them and include the cost in your monthly invoice?
For more information, contact a vacation property management service today.