Are you planning to use your second home as a vacation rental to make extra income? Maybe you’re renting it out yourself on Airbnb and feel overwhelmed by day-to-day tasks. If so, hiring a vacation rental property manager could be the best personal and financial decision you make.
However, you don’t want just anyone managing your Airbnb or vacation home. Finding and hiring the ideal vacation rental manager will save you countless headaches and increase the net value of your home in the long term. You want a company that takes care of every detail you can imagine without locking you into an exclusive long-term contract.
Why You Need to Hire the Right Vacation Rental Manager Over Just Any Vacation Rental Manager
When you look at the time, energy, and money involved in managing a vacation rental–it’s easy to see how quickly it can become a second job. An owner who manages their vacation rental themselves spends on average 30 hours a month on marketing, cleaning, property maintenance and upkeep, handling reservations, and restocking toiletries.
Full-service management companies, such as Vacasa, will handle everything while earning you more revenue. This includes the marketing and rental logistics like promoting your home, pricing it accurately, confirming reservations, regularly inspecting the property’s condition, and providing professional, local 24/7 guest service.
Don’t settle for less than the best for your home and your peace of mind. The ideal vacation rental manager is part marketing genius, part data scientist, and part concierge. They’re also a good neighbor, with risk-screening processes in place to help keep your property, your community, and your guests safe.
Indicators of a good vacation rental property manager
With many vacation rental managers advertising similar services, it is difficult to know which are better just by looking at their websites. Consider the following when narrowing your choices.
The size of their staff and their rental portfolio
A vacation rental manager with a sizable portfolio probably has a fantastic rapport with homeowners and understands the basics of successful vacation rental management.
But, portfolio size can be misleading. They might manage a good deal of homes, but may not have enough staff for 24/7 guest support. This is crucial during peak season when turnaround time between bookings is much shorter. Otherwise, it could cause negative reviews.
You want a vacation rental manager who can appropriately scale their staff and operations to be on site at a moment’s notice. At Vacasawe use predictive analytics to staff our professional local teams based on market demand, whether it’s during peak season or for a huge conference during the slow season. Every home and guest gets the best individual care before and during every stay.
Their knowledge of digital marketing and online booking channels
Competition for bookings is fierce. Airbnb and Booking.com have over 32 million property listings alone. There could be dozens–maybe hundreds–of similar rentals in your market booking on the same night with better listings, better prices, and better reviews.
Your vacation rental manager should know booking channels work and how to maximize your listings so they stand above the crowd. They should also be on more than a few websites.
Do a quick search on Airbnb and Vrbo for their properties. If you can’t find them, or they don’t show up before the second or third page of search results, you need to look elsewhere.
Vacation rental property management contracts and fees
How much are vacation rental property management fees?
Depending upon the location and breadth of services, vacation rental property management fees can range from 12% to 50% of your rental income.
The biggest trap is settling for a vacation rental manager who promises higher short-term returns for a lower management fee. While fees may feel like a much better deal, you usually wind up paying much more in fees for additional services, and a great peak season doesn’t mean much if your home is vacant for the rest of the year.
Contracts are a pain point for many vacation homeowners because of the above scenario. A year-long contract with a manager who can only book 4 months of the year is a net negative, plus the operational costs and safety concerns of bringing external vendors into your home to clean the carpets or fix the A/C.
When looking at your budget, consider the long-term benefits of hiring a full-service vacation rental manager who can do it all and provide hotel-quality services that guests expect. If you plan on selling your vacation rental, a full booking calendar can help justify a higher asking price.