Being the owner of short-term rental properties and vacation rentals is as much of a business challenge as any other. Both demand dedication and commitment in order for it to be successful. Miami investors often believe that short-term rentals or vacation properties are equivalent to passive income. The truth, however, is that short-term and vacation rentals are often even more hands-on than long-term rental homes. As a consequence of frequent changes in tenants, short-term or vacation rentals demand a lot of concentration, as they need to be managed properly.
As far as management is concerned, there are fundamental differences among short-term rentals, vacation rentals, and other long-term rentals. But rather than being different tasks, managing short-term and vacation rentals simply requires more: more marketing (and more often), more tenant screening, and more cleaning and preparing the rental property for the next tenant.
If you have excellent organizational skills and a knack for answering multiple tenant inquiries, then perhaps you’d want to consider making a business out of short-term rentals or vacation properties. You might want to look into filling in a few key roles before renting out your rental property.
Unless your residence is close and you are able to professionally clean your rental property yourself, consider hiring a house cleaning service. Give your property the attention and care it needs by getting a reliable housekeeper, making sure that the rental is clean and ready for every guest. This person can help you identify potential problems early and address them before they become expensive repairs.
Repairs are inevitable as they are part of maintenance. Hence, it’s a good idea to get yourself a good handyman. This person will have to live close to your property and can swiftly respond to guest complaints and maintenance issues. If your short-term rental or vacation property has a pool or spa, you will need someone to keep it clean and to regulate the chemical levels.
It shouldn’t matter too much if you hire one person who is able to do the job or if you hire different individuals. What should matter more is the delivery of the service — effectivity and efficiency are key! And, tenants will leave poor reviews if the property conditions are not what they anticipated it to be, which can make it harder to rent your property in the future.
Aside from the actual caring of the property itself, you need to know some things about communicating with the tenants, as well as making sure that word of your property gets to them. A successful short-term or vacation rental begins with effective advertising. There are a lot of websites and app platforms that will advertise your property for you. Make sure you list yours in one of them! A dedicated website for your rental properties will make it easier for tenants to find them. Setting up a website for a vacation home, in particular, is inexpensive and very effective. In order to be efficient and effective, include lots of photos on your website, as well as a fact sheet about your property. Provide as much information as you can so that you save yourself the time and effort of having to provide details for every single inquiry. You can also allow your guests to view availability, request reservations, and to pay their rent and deposits online. In so doing, you are making your business transparent and trustworthy for your tenants.
Nonetheless, there’s nothing better than good communication. As the property owner, you will need to respond quickly and effectively to inquiries, tenant complaints, and more. If other matters restrict you from being available at a moment’s notice, a good option may be to hire a property management company to handle your tenant relations for you.
The right Miami property manager can offer a high level of professionalism and customer service, freeing up your day so that you can do what you want to do. Short-term and vacation rental tenants need their space and privacy, so make sure you’re able to provide them a great experience. Anything you can do to help them feel satisfied with their stay in your rental house can help keep your properties fully leased month after month, year after year.
If you’re looking for professional property management, we’ve got you covered. Real Property Management Dade has a team of Miami property management experts prepared to assist you. From filling vacancies to handling maintenance, we’ve got you covered. Contact us online or call us at 305-501-1511 today.
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