4 Ways Vacation Property Management Increases Property Profitability

When you own a vacation property that you offer for short-term rental purposes, your primary goal is to make a profit on what you own. While some owners do well managing these properties on their own, bringing in the help of a vacation property management company can make a major difference in profitability. Take a look at the top reasons why short-term rental property management increases the profitability of your property and your annual revenue. 

1. Well-maintained properties are less likely to experience costly damage 

It is not often that the owners of a vacation rental property will live in the area of the actual property. Unfortunately, this can also mean maintenance tasks are overlooked or put off. Over time, small issues can become bigger, more costly problems. Property managers take a hands-on approach to maintenance, oftentimes contracting with area professionals with scheduled periodic maintenance. 

2. Vacation property management means fewer non-booked days 

All rental properties can experience fluctuating demand—this is a normal occurrence. However, the general rule is you want your property to be booked more often than not, and some owners do struggle to make this happen. When you work with a property management company, the company handles things like advertising and marketing your rental, streamlining the booking process, and quickly relisting the property when a booking is canceled. Overall, this means you will see your property is rented out a lot more. 

3. Rental property payments are streamlined and effectively handled 

Cash flow management is one thing that can come as a challenge with short-term rentals. You will have a lot of expenses and payments coming from multiple guests during any given month. The more efficiently these payments are handled, the less likely it will be that you have missing or mishandled payments that are never credited to your account. Property managers often use an in-house accountant or team of accountants that keep tabs on things like payments, expenses, and bookkeeping. 

4. Vacation property management keeps guests coming back 

A well-managed property will be clean, inviting, and offer everything a guest will be looking for in a home away from home. Property managers take the time to tend to those small details like stocking toiletries, cleaning corners, and replacing necessities in the kitchen so guests leave with only the best impression. When this occurs, you are far more likely to see guests return for a stay down the road. 

For more information, contact a vacation property management service in your area.