Whilst you can find resources online through blogs, e-books, and general newspaper articles, books are also an informative source, as everything is piled together in one. A way to succeed in this industry is by learning from others. Learning mistakes made by previous homeowners will help you avoid the same ones in the future.
Reading books written by property manager experts themselves will give you an insight into the vacation rental industry on the whole, and some more specific aspects too. So where do you begin? Here are some of our favorite property management books to read:
1. The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants With Fewer Headaches and Maximum Profit
A general overview of everything you need to know for your rental: getting your property ready, housing laws, leases, marketing your rental, problems that may arise and much more. Additionally, the author gives tips on how to be a successful landlord, all the tasks it entails, and how to screen and effectively manage tenants. This book also informs you on how to differentiate the licenses required for the vacation rental business between each state in the US.
For the newbies in the vacation rental industry, as well as those who have been at it for a few years, this is your go-to guide.
2. Vacation Rental Mastery: Beyond Airbnb: High occupancy, Direct Bookings & Serious Money
If you want to be an expert and know-it-all, the Vacation Rental Mastery says it all. The author has been running his own vacation rentals for over 20 years and mentions real-life examples and stories throughout the book. He enables the reader to focus on personal goals and how to plan a roadmap to success.
This book includes all the tools and tips in order to have your own website and the advantages of listing on different websites, including tactical advantages on optimizing on Airbnb, HomeAway, Booking.com, and TripAdvisor. Furthermore, he gives the basics for high occupancy, including how to have a name and listings that stand out.
3. Managing Rental Properties: Beginners Guide to Maximize Profits
If you’re new to this industry and want to calculate your full potential earnings from starting a career in property management, this book will tell you how to maximize your profits. Cameron mentions all the legal documents you need, highlighting the differences between a lease and rental agreement. It also contains typical problems rental managers have experienced in the past and how to overcome them.
The writer touches on some of the disadvantages of working in this sector and how to overcome them. From buying a rental property to transforming it and advertising it, as well as how to screen future tenants, this book is perfect for anyone starting out or considering this type of business.
Written by an attorney, this guide will give you insight into taxes and how to avoid problems with the IRS requirements in the vacation rental industry. Stephen clarifies all the different tax laws, linking to tax codes and covering specific scenarios. He informs homeowners on which deductions they can include and how to calculate it. Furthermore, he advises short-term rental hosts to track income and expenses, and also keep track of supporting documents.
If you have little knowledge or want to find out more about taxes for your vacation rental, this book will guide you and give you all the information you need.
5. Make it Ring: A Simple 3 Step Plan to get Exclusive Property Management Leads
If you’ve bought a property or you want to rent out your current home, the only thing left now is finding the tenants. But what’s the right approach when it comes to driving traffic? This book will give you the essentials in generating leads, informing you how to market your rental, including all the different channels you can utilize, and how to optimize on your mobile phone.
Once you have the leads, the writer teaches you sales techniques specifically designed for this industry, such as how to follow up, what to say (and not say) on the phone and in emails. And last but not least, how to close the deal and sign the contract.
So there you have it, our top property management books. Whether you need to know more about taxes, investment, and laws or just want a good bedtime read, these books will expand your knowledge in the vacation rental industry and help get you started.
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