Being the owner of short-term rental properties and vacation rentals is as much of a business challenge as any other. Both demand dedication and commitment in order for it to be successful. Dripping Springs investors seem to consider both short-term rentals and vacation properties as channels of passive income. Nonetheless, what most people don’t tell you is that short-term and vacation rentals are often even more hands-on than long-term rental homes. Because of frequent changes in tenants, proper management of your short-term or vacation rentals is essential.
As far as management is concerned, there are fundamental differences among short-term rentals, vacation rentals, and other long-term rentals. But rather than being different tasks, managing short-term and vacation rentals simply requires more: more marketing (and more often), more tenant screening, and more cleaning and preparing the rental property for the next tenant.
If your idea of an entrepreneurial venture is that of managing short-term rentals or vacation properties, you will need to have excellent organizational skills and an enthusiasm for responding to tenant inquiries. Prior to putting up your rental property on the market, consider filling in a few key roles first.
Unless you are living within the same neighborhood and are willing to professionally clean your rental property yourself, consider hiring a house cleaning service. Get yourself a good and reliable housekeeper to help you maintain your property and keep it fresh and clean for every guest. This person can help you identify potential problems early and address them before they become expensive repairs.
Regarding repairs, it’s best to get yourself a good handyman, too. This person will have to live within the immediate vicinity so that he or she can attend to any maintenance issues or guest complaints. If your short-term rental or vacation property has a pool or spa, you will need someone to keep it clean and to regulate the chemical levels.
Go ahead and hire one person to do the job. Or, if necessary, be willing to hire different individuals if it means getting a job done well and delivered on time. And, tenants will leave poor reviews if the property conditions are not what they anticipated it to be, which can make it harder to rent your property in the future.
Moreover, communicating with tenants should be something that you consistently work on, aside from caring for the property itself, since they are your target market. A successful short-term or vacation rental begins with effective advertising. Advertise your rental property using a website or app platform. Add your rental to the list and it will certainly get more attention. A website is also a great way to bring more attention to your rental properties. Setting up a website for a vacation home, in particular, is inexpensive and very effective. Include lots of photos and a fact sheet about your property. This will serve to answer any initial and generic questions possible tenants might have before they decide to rent. You can also allow your guests to view availability, request reservations, and to pay their rent and deposits online. In doing this, you are actually making the transaction convenient for your tenants, right from the beginning. Even so, good communication is essential to any successful business. As the property owner, you will need to respond quickly and effectively to inquiries, tenant complaints, and more. If confrontation and personal dealings are not something you foresee yourself handling, a good option may be to hire a property management company to handle your tenant relations for you.
The right Dripping Springs property manager can offer a high level of professionalism and customer service, making it significantly easier for you to sit back and enjoy what you’ve already worked hard for. Short-term and vacation rental tenants need their space and privacy, and that means that you should give them an experience worth remembering. Anything you can do to help them feel satisfied with their stay in your rental house can help keep your properties fully leased month after month, year after year.
If you’re looking for professional property management, we’ve got you covered. Real Property Management Longhorn has a team of Dripping Springs property management experts waiting to provide assistance when you need it. From filling vacancies to handling maintenance, we make things easier for you. Contact us online or call us at 512-580-3099 today.
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