Is a Property Manager Right For You?
There are a few different approaches that can be used when trying to rent out your vacation home. You can either do everything by yourself or hire a property manager that can do the work for you – for a fee of course. If you have some time to put in to promoting your rental property then it would be a good idea if you managed the property yourself. If you do not have the time then hiring a property manager could be a good idea for you.
Most people that rent out their homes have multiple property’s and the rental income from those property’s help to pay off the mortgage, taxes and other costs associated with owning a home. However, due to owner’s careers and personal lifestyles they do not necessarily have the time to manage their properties.
Benefits of a Property Manager
A property manager has many advantages that may be utilized if you find yourself short on time these days. A property manager can answer all booking questions and make the bookings, advertise your property for you, maintain and keep your property clean, among many other irreplaceable activities. You do not have to be bothered when a sink is leaking, or a toilet gets clogged, or when a tenant locks there selves out of your vacation rental. You can effectively run the property and free up your time for other important jobs that need to be completed.
Just because you have a property manager does not mean that you have lost any control of your vacation rental property. Property managers can be hired to do only a select number of tasks like check-ins, check-out, cleaning and maintenance; while you focus on marketing, advertising and bookings. You can contract out as many tasks as you want or just a few tasks you want.
A property manager can be paid on an hourly basis, per booking basis (most common) or per maintenance request such as a broken toilet. It’s important to outline exactly what the property manager should do and when they should do it along with all terms of monetary compensation.