So, you took a leap of faith and invested in your first short-term rental property. Now what?
You may feel overwhelmed by the prospect of managing a vacation rental, and not know what to do next. Not to worry!
Read on to learn about some of the best short-term rental management strategies you can have to make your life easier and maximize income from your vacation rental.
Use a Property Management Company
A property management company is a full-package solution if you're too busy or overwhelmed to manage your rental property. These experienced professionals can do it all, from guest screening to maintenance.
Outsourcing your work to a property management company is especially good if you don't live in the area or you travel frequently. You can have the freedom to take care of other business, without worrying about your guests.
Stay in Communication With Guests
Have you ever tried to message someone, only to be left on read? That feeling is much worse when you're trying to talk to your vacation rental owner.
Be proactive in communicating with your guests. Try to be flexible with check-in and check-out times to accommodate their schedules.
They will remember this when they leave you a review later on, and positive reviews are a proven rent increase strategy.
Obtain Proper Insurance
To feel secure about renting out your property, you'll need a few different types of insurance. This can depend on where you live and local regulations. Consider:
- Homeowners insurance
- Host liability insurance
- Disaster insurance
You will have peace of mind that you won't have to pay too much out of pocket in case something happens to your vacation rental. Check your policy regularly for updates, and to see if you need to make changes based on past experiences.
Focus on Guest Satisfaction
When your guests are satisfied with their experience, they're bound to leave good reviews for your property. Some guest satisfaction tips include:
- Stocking amenities
- A guidebook
- Prompt communication
- Flexibility
Make it clear that your guests are the priority. One of the best property management tools in your arsenal is thinking of ways you can amplify the experience for your guests.
Include Valuable Amenities
You don't want to just have run-of-the-mill amenities. Your vacation rental should have perks that stand out amongst similar properties in your area.
For instance, consider adding a hot tub so your guests can soak after a long day of outdoor activities. Ensure fridges and pantries are fully stocked so guests don't have to make a grocery store run when they arrive.
Short-Term Rental Management Made Simple
Short-term rental management doesn't have to be a chore. Use these tips to make it easier than ever to keep your vacation rental booked and busy all year round.
Have you thought about upgrading your short-term rental? PMI Coeur d'Alene is here to help with that goal.
Our experienced team is dedicated to providing the best experience for Idaho landlords and guests. Reach out to us today to begin your property management journey.
