Vacation rental management is usually outsourced service since it can be extremely difficult to manage a property – from very fine services details, expertise and time consumption this activity is based on, to a remote-location problem when a landlord is far away from his property but want to capitalize on it with no risk posed.
While there are a lot of companies that provide vacation rental owners with these services, here are the 7 things to consider when choosing a short-let property management company for your Vacation Rental Property or Vacation Rental Apartment.
1. The rental management company should take full responsibility for the property
The management company should be well-established and diverse it its know-how in order to prepare, market, advertise, rent, service, and manage to-to-bottom your short-term rental property.
A full-service management company should also forward repair requests to the local property manager they have in place, handle guest questions, complaints and maintenance issues, so you don't need to get involved unless absolutely necessary. This might come at a extra fee but it is you to decide how and where to allocate your time.
The vacation rental property management company should also look after your property as if it is their own home. Take care of the guests upon check-in, stay and check-out.
This also means that if a guest has caused some sort of issues or in the very unfortunate event cause damage to your property, you shouldn't have to pay for the loss or void periods occurred. Insurance and strict management rules can easy sort such rare situations out.
It is extremely important to see previous work done by the company you intend to start working with. Their current listings, reviews, portfolio of properties managed, meet the team, make sure all verticals of the services needed to ensure success in this endeavor will be covered professionally. From professional photography of your property – through very good customer services and – effective calendar and occupancy management.
If it's the Airhosted vacation rental property management company ruining your property, we will be applying our years of experience in order to smoothly solve such situations.
In simple words the vacation rental property management company you choose to work with should take full responsibility for the vacation rental property of yours!
2. Insurance and risk management
You property is your asset. You should indeed capitalize on it but also eliminate any risk. The vacation rental management company should not only itself be insured but also make sure your property is covered in its services package as well.
The vacation rental property management company you choose to work with should have excellent insurance coverage to protect your apartment, villa or other type of accommodation from damages or anything that could happen out of the regular usage of the property by its guests.
A well trusted company will have an action plan, risk management in place and a to-do list to act in order to prevent and spot issues from the very beginning and also act if such still happen.
In this context we are happy to share that Airhosted is insured by the world's best and Switzerland's top insurer Allianz. By working with us and contracting us to service your vacation rental property you take full benefit of this insurance and this way your home stays fully and properly protected.
3. Pricing and price modeling
It is extremely important to pay a significant attention if the company you are looking to start working with is experienced in and know how to approach the Pricing modeling of your vacation rental property.
Managing a calendar from price perspective is something the company you contract should be paying close attention to so that hour property can always stay properly adjusted to the market demands, seasonality, etc.
Also different property may accommodate guests in a different set of booking options which also comes down to the pricing modeling.
All that will ultimately result in maximizing efficiency, profits and also satisfied guests. This all plays significant part in the marketing aspect of your property. And should be done right – by professionals with experience.
Pricing should also be developed in way that is transparent and easily understandable by potential guests. Simplicity is king in this context.
If you want more information about how Airhosted can advise and help you in that domain, you can directly contact us or browse our website for more information.
Stay tuned and expect part 2 of this article so that you will be able to read more valuable tips and information on the topic. In the meantime contact us if you have any other specific questions or comments you want to discuss.