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Ready to fill your vacancies? Start here!

Ready to fill your vacancies? Start here!

The Key to Managing Short-Term and Vacation Rentals

Family Arriving at their Vacation Rental

Owning properties for short-term rentals and vacation rentals is a legitimate business. Rental property ownership requires work and ongoing supervision to be profitable, just like any other business. New investors in Newport occasionally believe that a vacation home or short-term rental will provide them with a source of passive income. But in actuality, vacation and short-term rentals frequently require more maintenance than long-term rental properties. Impactful property management is even more crucial to your long-term success when tenants change frequently. Let’s assess in greater detail what it takes to effectively manage a vacation rental.

Short-Term versus Long-Term Rentals

There are major differences between managing a short-term or vacation rental and managing other long-term rentals. Managing short-term and vacation rentals demands more marketing (and more often), tenant screening, and sanitizing and preparing the rental property for the next occupant. Depending on your neighborhood, you may be required to file additional licenses and taxes if you are permitted to offer short-term or vacation rentals.

Tips for Managing Short-Term Rentals Effectively

There are a few things you should be aware of if you intend to oversee your short-term rentals or vacation property yourself. If you want to manage your property on your own, you should first assess your suitability for doing so. To accomplish this effectively, you will need strong organizational skills and the ability to quickly respond to tenant inquiries. If your rental property is far from where you live, you might also need to hire people to fill a few important roles.

Consider hiring a house cleaning service if you are not nearby, willing, and able to professionally clean your rental property yourself. A dependable housekeeper will be able to report back to you after each visitor and can watch your property for you. This person can spot potential problems early on and address them before they become costly repairs.

Regarding repairs, you will likely require a reliable handyman. The right candidate for this position will be near your property, have a wide range of skills, and be able to resolve maintenance issues and guest complaints quickly. If your vacation or short-term rental property has a pool or spa, you will need someone to maintain it and control the chemical levels.

To ensure the job is carried out regularly and correctly, you might be able to hire one person to handle it all, or you might need to hire services from several different people or businesses. After all, if the property condition does not live up to expectations, tenants will leave bad reviews, making it more difficult to rent your property in the future.

Finding and Screening Tenants

A few things about finding and interacting with tenants are important to understand in addition to taking care of the property itself.

An efficient marketing campaign is the first step in a successful short-term or vacation rental. Listing your home on at least one of the most well-known websites and app stores is crucial. Having a website is also crucial to making your rental properties easily accessible. Particularly cheap and effective is setting up a website for a vacation home. To assist in responding to many of the queries that prospective tenants are likely to ask, you can include a lot of photos and a fact sheet about the property. Additionally, you can let your visitors view the availability, make reservations, and pay their deposits and rent online. Such comforts are necessary to ensure that your tenants have a good experience right away.

Along with efficient marketing, you’ll also need tenant communication skills. The ability to effectively communicate can make or break your chances of owning rental properties that are profitable. As the property owner, you must reply promptly and efficiently to inquiries, tenant complaints, and other issues. Hiring a property management company to take care of your tenant relations could be a good choice if you are unable to handle tenant relations in person.

The Professional Property Management Difference

The proper Newport property manager can provide professional standards and customer service, free up your time, and make your life significantly easier. Short-term and vacation rental tenants require space and privacy, as well as a great experience. Your properties can remain fully leased month after month, year after year, by doing anything you can to make sure tenants are happy during their time in your rental home.

To keep your rental properties occupied and your tenants satisfied, Real Property Management Delta has a team of local property management experts at your disposal. We take care of the hard work for you, from filling openings to managing maintenance. We are also familiar with local laws and can help you navigate the process of licensing your rental property, if required, as well as taking care of other taxes where applicable. Keep in contact with us online.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.