Vacation rental homeowners who could use a top level property manager, may not realize what a big difference it can make. Many vacation rental homeowners have so much on their plate, yet move into survival mode and continue with the never-ending tasks, including late night calls, and not realize there’s a better way! Hiring a property manager can save homeowners a lot of time, and needless stress. After all, life is short!
If you’re not sure whether you’re one of those people, here are 7 signs it’s time to hire a property manager and take a little off your plate.
1. You Have Multiple Properties
Managing one vacation rental property can be time-consuming, but managing multiple properties can feel like a full-time job. Over time, you’ll experience burnout (if you haven’t yet), and it can affect the quality of care for your properties.
Hiring a property manager means you can focus on expanding your portfolio without sacrificing the current properties’ success and gives you the freedom to focus on other things in your life: work, family, vacation, or your next project.
2. You’re Often Out of Town or Unavailable
Are there times when you’re unable to respond quickly to guest or maintenance issues? Being available at the drop of a dime is not only incredibly taxing, but for many people, unrealistic. This is especially true when you are someone who likes to travel or have regular outings.
If this describes you, taking that next step to hire a property manager and delegating your time allows for those trips out of town or a more flexible schedule.
3. You Don’t Live Near Your Vacation Rental Property
Most people don’t live next door to their vacation rental. It’s difficult to effectively manage a property if you’re not able to physically be there. Even if your property is just an hour away, two hours of commute time can add up.
Reliable property managers can help you avoid the stress and extra cost of traveling back and forth just to make sure everything is running smoothly. They’re your extra set of eyes on the property and can keep you updated on everything without you rushing back and forth.
4. You Don’t Have Experience in Rental Property Management
Even if you know your way around a toolbox and can handle some maintenance issues, there’s more to property management than fixing things, such as:
– Rental agreements
– Determining rates
– Understanding landlord laws
Hiring a professional with experience can give you peace of mind that all aspects of property management are being handled properly.
5. You’re Having Trouble Finding or Keeping Guests
In today’s digital world, marketing is a vital aspect of a successful rental property. Hiring someone with the experience and knowledge can mean better advertisement and ultimately, more frequent vacationers for your property.
Because marketing is such a specific skill that takes years to master, having someone who has rental property marketing experience will not only save you time, but also attract higher-quality leads, generating more revenue.
Not only will they have the know-how to draw in potential renters, but they also have systems in place for screening them as well. This means you’re less likely to encounter issues with guests in the future.
6. You Don’t Understand the Legal Jargon
Laws and regulations surrounding rental properties can be confusing and overwhelming. If not followed properly, it could result in legal issues for you as a landlord.
Hiring a property manager who knows, understands, and can explain all the rules and regulations can save you from potential legal troubles.
7. You’re Feeling Overwhelmed
At the end of the day, your mental health and overall well-being is most important. Being overwhelmed is reason enough to hire a property manager. While property management is a great source of income, it can become taxing under certain circumstances, especially busy seasons.
If you find yourself relating to any of these signs, it may be time to consider that next step for your rental property.
At Soar Vacation Rental Services, we offer rental property management services for vacation rentals on Galveston Island. We’ll handle everything from guest correspondence, virtual tasks, and Airbnb or Vrbo account maintenance. Contact us today to see how we can be your boots on the ground and take the burden off your shoulders to make your rental a success!