Do you want to learn how to hire a property management company to help you manage a vacation rental home? Some people who are happy letting their friends or family members to choose a vacation rental home for them which might be a smart move, but hiring an expert is the best move.
Hiring a property management company is important because you will ensure that your guests and investment are in good hands. So, how do you choose the right property management company? You don’t have to waste your time thinking because you are going to learn the top tips for hiring the best property management company for vacation rental homes in this article.
1: How long has the company been servicing vacation home in this area?
Some property management companies that have been in this business for more than ten years and there are those that were started recently, but what is important is if the company understands the local market. You want to make sure that the person choosing a vacation home for you knows more about the local area. Avoid the ones that don’t know more about the local area.
2: Fees and Contract Terms
Management fees vary from 30 to 50 percent of the nightly rate. This rate is for a full-service manager. Also, know how long the contract term you want to sign will commit you to a property management company. Most of these companies have contract terms that usually range from 6-12 months. To avoid getting locked in the contract, you can ask the manager to include an out clause that is based on your performance.
3: Services included in Management Fees
“Do not assume that the property management company will take care of everything.” according to Nancy Evans of Red Hawk in Phoenix. “There are some things that the management fees will cover, and there are some things that might not cover. So, you should get a list of these things and makes sure that the services that you want are provided. Some of these services include housekeeping, maintenance, and repairs.”
4: Updates of Property’s Condition
Last, but not least, you want to make sure that property Management Company you want to hire focuses on maintaining their vacations homes. The company usually perform walkthroughs when a guest departures which means that if there are some issues in the home that need to be taken care of, the company will take care of these issues. Their regular maintenance means that you will never find any damages when you are moving into a vacation rental home.
These are the top tips for finding a property management company for vacation rental homes. Use these tips to choose the right property management company.