What is vacation rental management?
Vacation rental management is the process of managing and renting out properties for short-term vacation rentals. It encompasses various activities, including marketing, bookings, guest communication, cleaning, maintenance, and more.
A vacation rental management company or property manager handles the day-to-day operations of a vacation rental property on behalf of the property owner. This includes listing the property on rental websites, handling guest inquiries and bookings, managing payments, coordinating cleaning and maintenance, and dealing with any issues that may arise during a guest’s stay.
The management company works with the property owner to set up pricing, availability, and house rules and takes care of all aspects of renting the property.
Vacation rental management companies typically charge a percentage of the rental income as a management fee. They may also charge additional fees for services such as professional photography, listing creation, and setting up the property on multiple platforms.
For property owners, the benefits of working with a vacation rental management company include the following:
- Not having to handle the day-to-day operations of the property
- Having access to the company’s marketing and distribution channels
- Gaining access to the company’s experience, knowledge and expertise in the vacation rental industry
- Having a professional handling guest communication and issues
- Having a reliable source of revenue from the property
For guests, using a vacation rental management company ensures a professionally managed property and the assurance that a reliable team of professionals supports their stay.
Overall, vacation rental management is a way for property owners to earn rental income from their property while also taking advantage of the expertise and services provided by a management company.
💡 Thinking about starting a vacation rental management company? Download our free property management agreement here.