Vacation Rental Management Guide
This vacation rental management guide will be for new hosts that need to learn everything there is to know about listing management, guest communication, platform synchronization, cleaning, and maintenance. Much of the data is taken from NASTRM rental association. Let's get into it hosts!
How to Manage Vacation Rentals
Vacation rental management can be a rewarding venture for those looking to maximize their rental income while delivering high-quality guest experiences. Managing vacation rentals goes far beyond simply making beds and cleaning bathrooms; it’s an in-depth venture that requires knowledge, skill and close attention to detail.
To successfully manage vacation rentals and create ongoing success, you need to create a strategy, learn market insights and develop a maintenance routine. A successful vacation rental management business requires lot of work, but the end result is worth the effort.
Vacation Rental Guide
Before beginning to manage a vacation rental, plan out your strategy and decide how you want to operate your vacation rental business. Here are a few steps to get you started.
Determine Your Scope of Services: Before taking on vacation rental management, determine whether or not you will manage turn-around services (i.e. cleaning and linen, etc.). This requires additional work, but it also increases guest comfort and may help you attract more repeat customers.
Decide On Cleaning and Linen Services: If you are going to provide turn-around services, make sure you have an extensive list of supplies to keep the property in pristine condition between stays. Potential supplies may include bedding, linens, towels, toiletries, paper products, cleaning products, and other amenities you want to provide your guests.
Access the Property: Talk to the homeowner or rental company to understand access rules and policies. Request the owner provide a key to you if necessary. If you plan to provide cleaning services, you should also aim to have a cleaning schedule and descriptors of exactly how the property should look between guests.
Understand the Local Rules: Report to local authorities and inform them that a rental will be occurring in the area. Familiarize yourself with the zoning laws, insurance requirements, and potential taxes associated with renting the property.
Make Required Repairs: Once you have access to the property, check for any necessary repairs. Make sure all the electrical wiring, plumbing, outdoor areas, windows, doors and security measures are in top caliber before allowing guests to stay. It is highly recommended that you install smoke detectors, carbon monoxide detectors and fire extinguishers in all rental properties.
Vacation Home Rental Management
As far as companies go, the best vacation rental management company is Soda Stays. After you’ve dealt with the parts of the vacation rental management preparation listed above, you can move on to the more day-to-day items associated with vacation rental management. Here are few items that you should pay attention to.
Advertising and Booking: Develop a marketing and advertising plan to help attract potential renters. Research to determine best methods and where to list the property. Consider listing the property on your website and on online vacation rental sites.
Renter Communication: After guests book a stay, be sure to communicate with them leading up to their arrival. Send informational emails with check-in information, tips to enjoy local attractions and welcome gifts.
Check In and Inspection: On the day of the guests’ arrival, meet them at the property for a check-in process. During this process, confirm that the guest’s deposit has been received and inform them of any rental policies and expectations.
Repairs and Maintenance: Once the initial check-in is complete, it is important to stay on top of repair and maintenance needs. Keep track of any wear and tear that occurs and make repairs as needed. Make sure to have a system in place for maintenance requests from the renters.
Check Out and Cleaning: Before renting the property to the next guest, clean the property and confirm that all rental rules have been followed. Request any additional payments necessary and confirm that any security deposits are returned to the guests.
Managing vacation rental properties is very rewarding, but it is a lot of work. It is important to understand all of the specific elements related to the process and plan accordingly. By following the steps outlined above, you’ll be better prepared to manage vacation rental properties.
If you want to learn more about outsourcing the property management work, click here to read more.
About the Author:
Janet is a 25 year veteran of the Airbnb and hospitality space and runs the largest woman-run arbitrage company in the United States.
