Are you new to the short-term rental scene? There are, of course, many things to consider when diving into this venture. But we’re going to focus on three things in this blog:
Location
One of the things we want you to consider is the location of your rental. You may be considering purchasing a property somewhere you love (maybe it will be your retirement home one day). You may consider renting a property in the same town you already live in.
The location can impact how much you charge tenants, the number of occupants the property can hold, and if you want to handle it yourself or hire a property manager. If your short-term rental isn’t in the same town as you (or even the same state) it’s a good idea to partner with a trusted property management company. Otherwise, you’re going to spend a lot of time on the road.
Availability
Another thing to consider is your availability. Even if your short-term rental is local, it can be difficult to keep up with everything. There are reservations to handle, cleaning to take care of, not to mention routine maintenance. You need to be available for guests and you have to deal with vendors. If you’ve got a lot on your plate already and you want to make some passive income, a property manager can come in handy. A property manager can free you up to do other things while they handle the details of your short-term rental.
Vacancy rating
You also want to consider your vacancy rating. The whole point of investing in a short-term rental is to make money. If you get into it and you’re not getting the vacancy rating you’d like, it may be time to ask for outside help. A property manager can help you maximize your marketability, choose the right rental price, and keep guests satisfied.
When you’re ready to invest in a short-term rental, you need to be prepared. There are a lot of details to consider. If you have a property you want to get ready to rent, reach out to us at PMI. We can help you get your short-term rental listed and seen by guests.
Once you start accepting bookings, we can motivate your guests to come back and provide great reviews to increase your vacancy rating. Learn more about what we can do for you by reaching out to us at https://www.breckenridgevacationrentalmanagement.net/
