Short-term property rentals are accommodations that allow people to stay for a short time as opposed to long-term rentals, which usually allow a year-long stay. A short-term rental can accommodate people for a few days or more, or for even as short a period as one night.
People such as business travelers and tourists looking to stay within local limits tend to prefer short-term rentals. With people increasingly turning to online short-term property rental marketplaces such as Vrbo and Airbnb, the demand for such accommodations has increased.
While property owners are aware of the lucrative benefits of short-term rentals, they are also conscious of the management hassles involved. Property owners unable to self-manage are turning to short-term property management companies to address the issue.
Benefits of Hiring a Property Management Company
Whether you are a beginner in the short-term property rental industry, or cannot afford the time and efforts needed to manage such rentals, a property management firm can help. From bookings and property maintenance to guest hospitality, a management firm takes care of a range of rental functions.
If you are in the market for a short-term rental property management firm, then here are some ways to choose the right partner:
Obtain referrals from real estate agents or industry peers. Check websites of prospective companies to know more about them. Find out their experience in short-term rental management.
Examine company ratings to know where they excel and where they lag. Check customer reviews for ratings on guest service, timely repairs, communication, and accessibility.
Check for Service License and Property Management Credentials
A property management firm must come with a proper service license to practice its trade. Ask for certifications from recognized trade bodies in property management. Such credentials give an assurance that the firm has the technical capability to deliver on its service promise.
Find Out About the Firm’s Property Marketing Strategy
A short-term property management firm typically provides the following services:
- Marketing of your property
- Creating listings
- Round-the-clock concierge services
- Guest screening
- Guest check-in and check-out
- Housekeeping services
- Property maintenance
It is important to know how the firm would market your property. Check their existing customer listings. Do listings present properties fairly? Are the features and services clearly listed? Are photos used in the listings of good quality?
You do not want to lose customers due to poor or incorrect presentation. Ensure that the firm is meticulous in its presentation of listings. Ask if they use a professional photographer for property listings.
A good marketing strategy:
- Defines target audience accurately
- Ensures that your target audience finds your property listing easily. Firms use strategies such as search engine optimization, submitting listings on multiple websites, and email marketing, to increase property visibility.
- Presents your property well (high-quality images, clean text, easy navigation, etc.,)
Examine the Contract Thoroughly
Read the contract without missing any detail. It should clearly list:
- The services that the firm has agreed to deliver
- Fees agreed upon by both parties
- Your responsibilities as a property owner
- Termination clauses
- Contract duration
A quick online search will show you numerous short-term rental property management companies in your area. You can choose a company that best suits your needs using the above tips.
With a reliable partner by your side, you can get the best financial returns on your short-term rental investment. You can entrust the company with the end-to-end management of your property with complete peace of mind.
Nest Host has been consistently delivering on owner expectations of high-quality rental management services and above-average market returns. With a 5-star rating and a Superhost status, we continue to lead the way in short-term rental management, including Airbnb management.
Nest Host offers end-to-end short-term rental property management services ensuring complete peace of mind for you. Get in touch with us at [email protected] or 1-833-637-8333 for more information.