Vacation Rental Guide / Definition of Short term rentals / What is Short Term Rental Management?

What is short term rental management?

Short term rental management is a way to manage rental properties which see new guests more frequently than regular residential lettings. Instead of overseeing tenants that might live in units for a year or more, these managers are in charge of vacation properties or other short term properties for weeks or even days at a time. Management companies take care of a number of things for the property owner. For example, maintenance jobs, payment collection and so on. In general, the property manager receives a percentage of the rental amount to carry out their role.

Those that hire a short term vacation rental property management company may see better outcomes in terms of booking numbers as these professionals really understand the short term rental market. This professional is able to cover a wide range of tasks that need to be done for the rental which the owner does not know how to do, such as advertising, marketing and maintaining the property.

Benefits of a short term rental management company

There are many benefits to having a short term rental management company to work with. As an owner of a short term rental property, it is important that the property is maintained and in the best shape at all times. If you’re not always in the immediate area, you’re unable to do this regularly. The manager that you hire is able to provide not only the maintenance but also take care of cleaning, renting and administrative tasks that are required in order to keep the rental property running smoothly.

As an owner, this means that you have less to worry about, including stress that might come from organizing and handling this. It also means you have a company you can trust in case your rental property needs some repairs or work.

Short term rental management software

Short term rental management software is an online program that provides the owner with a way to manage all of the properties, connect with guests and stay on top of everything to ensure that the properties meet guests’ needs. This software can also provide short term rental management contracts, as well as other specifics that make life easier.

Providing a multitude of tools for the user, you can expect to find the best of the best when it comes to cashing out with some exciting benefits and features of the software that handles the backend of things, so you don’t have too.

Short term rental management fees

There are short term rental property management fees that come with hiring a management company to take care of everything. These fees differ depending on the company, but also on the specific amount of rentals that you have and the short term rental fees that are coming in from them. Make sure that they have a property management license before hiring them.

You can then negotiate a price that you both agree on. This can either be a flat rate or you can use a percentage of the amount that you get in a month for the rental properties.

Short term rental management contract

The short term rental management contract is something that is important to have. This is an agreement between you, as the owner, and the rental management company. It should state the scope of work that they are providing you with, along with the price that you are going to pay them. This way, the contract is there to provide the safeguard for both parties in case of dispute. It is an important document to have when making any business deal with any third party.

Short term rental management companies are great to work with and to have. Even when something as small as a sink leak or a lock requires attention, these companies will go out there and do the job so you don’t have to. This takes a weight off your shoulders and also ensures that the properties stay in the best shape possible. It is what everyone wants when working with a short term rental management company and can help provide the best guest experience for short term vacation rentals.