Vacation Rental Guide / What is Vacation Rental Property Management? / Top Vacation Rental Property Management Services

Vacation rental property management services

For those that are looking to enjoy a second income, vacation rental properties are a must-have. Not only is it passive income, but it is also something that provides a fun way to make money. One of the services that you should definitely take advantage of when you have rentals though is vacation rental cleaning services. By being able to keep track of everything happening in the property, especially with cleaning and caring of the property, you’re on top of everything and have to do close to nothing to keep it running. Management services are the types of services that do this.

Not only that, but it is also important to keep up to date with the inside of your rental by making sure the furniture is nice, fixtures are modern and that everything is in great working condition. Interior design goes a long way on a rental property. There is software that provides you with a way to keep track of all the changes being made so you know what to charge. This software helps owners stay on top of what needs to be done or what was done and managers to effectively market and charge accordingly.

The less you have to worry about with your vacation rental property, the better off you will be. Even when the locks have to be changed, the management company will make sure this is something that is done.

List of Property management services

When you’re interested in hiring property managers, then you need to know what exactly they can provide you with. You might only need some of the services, or you might need a comprehensive, extensive list of all the services provided. It is important to speak with the individual insurance company to find out what they can do for you.

Evaluate the vacation rental property

  • They will evaluate the property and determine what the best rental rate would be for it.
  • Provide documentation with detailed pictures of the inside and outside of the rental.
  • Offer repairs and improvements that can improve the amount of rent that you get for the property.
  • Gather the information on the rental rates from the area and work with the owners of the property to determine which rental rate would be best.
  • Speak about the pros and cons, what the owner would like from the property, pet policy, smoking, etc.
  • They will install and change out the rental locks.

Promote the property

  • They will prepare the home to be rented out.
  • They will market the property so that visitors can view it and find it – create a website, list it on other websites, print publications and more.
  • Increase curb appeal by keeping the outside of the property well manicured.

Check-in guests

  • They will draw up the rental agreement with the renters, confirm their dates and review the guidelines they should adhere to while staying there.
  • Ensure all agreements have been properly executed.
  • Collect security deposit from guests.
  • They do all of the check-ins that are required by inspecting the unit, making sure the guests know about damages, return the security deposits, clean out the units and do repairs, return the keys and put the property back up.

Financial

  • Are you worried guests are not going to pay for the rental? They will hunt them down and receive payments while also enforcing any and all late fees.
  • They will collect the rents and security deposits required.
  • They provide all of the accounting services, making payments, collecting payments, keeping all documentation of the payments in and out, keep track of the tax side of the paperwork and advise the owner of any tax issues that might arise.

Legal

  • They provide legal advisement when there is a legal dispute or litigation.
  • Refer the owner to legal attorneys they can work with.
  • They abide by and understand the legislation and laws pertaining to these rental properties.

Maintenance

  • They will provide periodic inspections on the inside and outside of the home to check for repairs, damage and other needs while also making sure that nothing is in violation and then send reports of the property after doing so to the owner.
  • All of the maintenance is provided by the managers of the property.
  • If any contractors are required, they will find the best ones for the job and check their credentials.
  • They will maintain the outside areas of the house, including leaves, grass and snow removal.
  • They are the ones that maintain the 24-hour emergency helpline.
  • They can provide renovations and rehabilitation projects as needed.