The decision to hire a vacation rental manager is usually based upon cost. No doubt, popular vacation rental listing sites have made it easier than ever to self-manage your vacation rental and avoid property management fees. I am a property manager by trade, but I truly believe anyone can self-manage their vacation rental. It is definitely not easy, however. Here are some signs that maybe it is time for you to hire a vacation rental manager.
Low Occupancy for your Vacation Rental
The top goal of any vacation rental owner is to earn rental income on your property. You might be doing something wrong if your calendar has too many vacancies as compared to your competition.
Advertising your property on the major listing sites is great, but that is not always enough. Vacation rental property managers can have other resources to attract guests, an already established clientele and the means for bringing in more repeat business.
It is also very important to “strike while the iron is hot” and respond to any potential guest bookings or inquiries as soon as possible. You could be missing potential bookings if you are too busy with other priorities.
Guest Complaints are Adding up
We all receive a negative review occasionally, despite our best efforts. Angry customers are much more likely to leave a negative review than a happy customer is to leave a positive review. Still the vast majority of online reviews for vacation rentals are positive. Approximately 80% of Airbnb properties have at least a 4.5 star rating.
Multiple negative guest comments or reviews should tell you something. Your property maintenance or cleanliness may be substandard because you are not effectively managing your service providers. Guests may be unhappy with your level of service because you are too busy with other aspects of your life.
One or two negative reviews isn’t concerning in itself, but when unhappy guests are the norm for your vacation rental, you need to re-evaluate if self-managing is right for you.
You are Concerned with Guest Safety and Regulatory Compliance
Does your property have all the proper safety equipment such as fire extinguishers, smoke alarms, etc. and are these in proper working order? A good vacation rental manager should be constantly inspecting your property to make sure all safety devices are properly working. They should also be performing any preventative maintenance to minimize or eliminate safety issues.
Regulatory issues can be related to city codes and registration requirements as well as hotel or sales tax reporting. Fines and penalties can be steep for violations. Again this is something a manager will most likely handle on your behalf.
It is definitely time to hire a vacation rental manager if you find yourself concerned with either of these major issues.
You Have had Several Bad Guests
Bad guests are those that do not follow your house rules. They have loud parties, more people than is allowed and cause damage to your vacation rental. It has been my experience that you should have very few of these types of guests. My company hosts several thousand vacation renters a year, and at least 95% of these guests check-in and out without any issues.
Of course everyone has a bad guest from time to time. The problem is when you have several bad guests in a short amount of time.
Vacation Rental managers have heard it all and seen everything. They understand how to effectively screen guests. They also have the experience to understand the subtle signs to look for when choosing whether or not to accept a reservation.
There is also something to be said for a vacation rental manager always being there to keep an eye on your guests. Guests tend to follow the rules when they know the manager is nearby and always available, as opposed to an owner that lives several hours away and is hard to reach.
Your Vacation Rental has Become a Burden
Owning a vacation rental should be a joy. Vacation rentals can be great multipurpose properties that allow you to invest in real estate and get some personal enjoyment.
New vacation rental owners may not realize the amount of work involved with self-managing. This can turn your fun vacation home into a source of stress. It is time to hire a vacation rental manager when this happens.
