The vacation rental industry has been experiencing a strong resurgence in demand. With the popularity of websites like Airbnb, and growing interest in the concept of ‘sharing’, more and more investors are looking into the option of adding short term rental to their portfolios. However, it’s important to be aware that short term rentals have different operating costs and turnover rates than long-term leases. As such, this type of leasing requires more hands-on management and care.
Whether it’s providing guests with local recommendations, making sure the property is clean and stocked, or maintaining competitive rates, the duties of a short term rental management company are much more involved than simply collecting payments. When choosing a management company, investors should look for a team that is well-versed in their specific market and can offer the kind of personalized, attentive customer support that will leave guests with positive reviews.
It is also necessary for short term rental management companies to be familiar with the laws and regulations that pertain to each city, state, and country they operate in. These can often change, and a good manager will keep up with this and communicate with the investor if they need to make any changes to the properties they manage.
Finally, short-term rental managers are responsible for communicating with guests about house rules and check-in procedures before their arrivals. This can be done in the form of emails, online documents, or physical books/binders located at each property. Short-Term Rental Property Management