Having your own short-term rental properties and vacation rentals is an entrepreneurial endeavor, just like any other. Both should be given great attention if you want them to work out to your benefit. Stamford investors hold to the view that short-term rentals or vacation properties are automatic sources of passive income. Regardless, the fact is that short-term and vacation rentals are often even more hands-on than long-term rental homes. As a result of frequent changes in tenants, short-term or vacation rentals need to be supervised closely and properly.
Separating short-term rentals, vacation rentals, and other long-term rentals are fundamental differences regarding management. 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 a short-term rental or vacation property is what you’re looking to invest in, first make sure that you have excellent organizational skills and can swiftly attend to tenant inquiries. You might want to look into filling in a few key roles before renting out your rental property.
Unless you are residing within the same area and are capable of professionally cleaning 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.
On the topic of repairs, it would be wise to get a good handyman, as well. This person will have to reside within the same area as your property so that he or she can immediately take action on any maintenance issues or respond to guest complaints. 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.
Whether it’s hiring one person or different individuals to provide the service needed, make sure that the maintenance is consistent and done well. Also, tenants will leave poor reviews if the property condition is subpar or not optimal, 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 multiple websites and app platforms online that can market your property for you. All you have to do is add yours to the list. 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. Make sure to include lots of photos and a fact sheet about your property so that the tenants get as much information as they can prior to contacting you. 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.
Yet, nothing beats good communication. As the property owner, you will need to respond quickly and effectively to inquiries, tenant complaints, and more. If you foresee that you will not be able to handle matters personally, a good option may be to hire a property management company to handle your tenant relations for you.
The right Stamford property manager can offer a high level of professionalism and customer service. This kind of reassurance is what every business owner needs in order to maximize daily productivity. 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 are what you’re looking for. Real Property Management Southern Connecticut has a team of Stamford property management experts willing to provide insight and assistance to you. From filling vacancies to handling maintenance, we make sure your properties are safe and secure. Contact us online or call us at 203-821-7303 today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.