Posted on: 28 September 2021
Do you have a vacation property that you use to generate rental income, but you don't have the time to maintain it on your own? If so, you should consider hiring a vacation property management company to take care of it for you. Here are a few things that you should look for when hiring one to manage your property.
Do They Have Similar Property Experience?
It's important that the property manager has experience managing similar types of properties in the past. This means that if you have a single-family home that you are renting, that they have managed single-family homes in the past. This is quite different than managing a condo or townhome, where there is less maintenance involved because the HOA takes care of many things for you.
Do They Have Flexibility With Your Management Style?
It is always worth asking how the property management company conducts business, and if they are willing to be flexible with your specific needs. This can range from using a specific type of rental agreement to performing cleanings after renters are done at certain times of the day. You'll want to make sure that the property manager is working for you in a way that makes life easier and doesn't complicate things.
Is There A Discount For Multiple Properties?
As you start out with your vacation rental business, you may only have one property, but that can quickly expand to multiple properties. Find out if there is a discount for having multiple properties managed by the same company. This can encourage you to work with the property management company because you can save money as you expand your business.
What Services Are Outsourced?
Ask about what services the property management company does themselves, and what services they outsource to other companies. For example, they may have their own cleaning crew that helps clean between renters, but they may outsource help for things like snow plowing in the winter. This will help give you a better idea about what kind of jobs the management company is capable of doing on their own and have more direct control over.
Will They Help Find Renters?
If you are hiring a company that specializes in vacation rentals, you should find out if they assist with finding renters for your property. You may find out that you are responsible for your own advertising or if that is a service that you can outsource to your property management company as well.
For more information, contact a local management company, like Skye Management.Share