Short-term rentals have some real benefits. You’re given a little more flexibility. For example, you can block off dates when you want to use it and accept rentals during the times when you’re away. This is just one reason many people choose to go this route as opposed to a long term rental.
However, if you’re looking for a little more freedom and flexibility in your schedule, you may want to look into a property manager. Renting, in any form, short or long-term can come with a lot of responsibilities.
Between the maintenance and answering guest calls and messages, you can quickly become inundated with work. The short-term rental which was supposed to provide you a more passive income and allow you more freedom becomes more work than originally expected. Thankfully, a property management company can allow you to make that dream a reality by handling all of these needs.
Another benefit to leasing out a short-term rental is that you can typically charge more than a long-term rental. However, you’ll also typically have a higher vacancy rate. The good news is, a property management company can help increase the occupancy rate by listing your property with high-quality photos, ensuring the property is ready for guests, and keeping the guests satisfied when they arrive.
There is a benefit to people staying in your rental for shorter periods as well. Your property probably won’t be worn in as quickly as a long-term rental, where someone is living in it full-time. This can help you reduce the amount you’d spend on maintenance needs. A property management company can also help with this by catching maintenance issues early on and keeping the property clean and up to date.
When it comes to running your short-term rental you need to be strategic. You need to go the extra mile to help guests leave happy since ratings will speak volumes to potential future guests. A property management company can help increase satisfaction and even prompt guests to provide you with positive reviews.
As you can see, there are plenty of benefits to investing in a short-term rental, but to make it a truly passive income and increase occupancy rates, it’s smart to partner with a trusted property management company. At PMI, we’ll do our best to reduce vacancies and increase guest satisfaction. Visit our website to learn more: .
