There are a lot of property owners who choose to self manage their vacation rental. However great value can be found in hiring a vacation rental property manager. Here are 5 key things that many owners don't realise until they have already jump head first into self management...
1. It is extremely time consuming! You are solely having to field inquires, vet travelers, answer property related questions, and manage the day to day financial, and on the ground operations of your property.
2. Promoting your property, and knowing the vacation rental market of your particular local is KEY! This is crucial to the overall property performance as an income property.
3. Being knowledgeable on the local short term rental regulations, and the specifics of the vacation rental season is a must.
4. Having to be available when potential travelers are looking to book properties, which typically is before work, after work, and on weekends.
5. Knowing how, when, and where to market your property so it appears higher in search results.
A great vacation rental property manager can do all of the above for you, and much more to assure your property outperforms your expectations.