19 Nov 2019
Vacation Rental Homes are numerous in today’s market because a well-managed property is proving to be both an asset to enjoy as well as an investment. . Finding the right rental property manager to market and oversee your home begins with a candid conversation. Here are some valuable questions to ask before agreeing to a partnership with a property management company.
Top Questions to Ask Your Vacation Rental Property Manager
1. Are you a local company or a larger company servicing multiple markets?
There are advantages and disadvantages to both local and non local management companies. Larger international companies have access to more resources and typically have larger budgets to fund marketing and technology. However, they tend to not know specific details about the area and have to rely on paying commissions to local providers costing property owners more money. Many larger brands use local companies to provide the properties they list and do not have exclusive relations with the homes they list.
Local property management companies, like Exceptional Stays, have full depth knowledge when it comes to the market and can answer all guests questions quickly and accurately and make sure guests and properties are properly matched, as well as providing agile service with quick, knowledgeable and professional response 24 * 7, they also tend to have a strong reputation within the community.
2. How experienced are you in the area and how long have you operated in this market?
Depending on the city, vacation rentals may come with a unique range of issues specific to the location. If your rental property management company has years of experience in the area, then they most likely know how to handle any problems that may arise.
3. What services do you provide?
As you search for the best property management company for your home, you’ll need to figure out what services are a good fit. Strive for a full-service property management company that handles every aspect of your rental. These are some of the services you should look for to guarantee a successful rental program while at the same time keeping your property in perfect condition.
- Managing guests from the moment they book until they check out. This will include guest screening, inquiries, and handling of all issues or concerns and fending all calls 24 *7.
- Offer robust in-house concierge services, not contracted to an outside third party supplier
- Securing guests through a professional marketing plan that should include:
- Professional and robust websites.
- Local sales team with lightning speed response time.
- Professional photography and home marketing.
- Collecting and responding to guest reviews.
- Presence on all the major channels: Airbnb, VRBO, Marriott Homes and Villas etc.
- Managing all property repairs and inspections.
- Performing preventative home inspections and maintenance.
- Providing professional caretaking services.
- Performing detailed post departure inspections.
4. Is your sales team based locally?
Steer clear of companies who do not have a local sales team and instead rely on remote agents who have very limited knowledge of the area and of each home. At Exceptional Stays all our agents are intimately familiar with each of our properties.
5. What percentage of your guests are repeat guests?
This is a critical question, vacation rental companies with a high number of returning guests directly relates to guest satisfaction. You want to partner with a company that retains guests, repeat guests tend to be respectful of properties and book direct without having to pay any additional agent.
6. What are the costs and contract details?
There are many components that play into the different costs associated with using a vacation rental company, some items to review are:
- The obvious question is what's the commission split, but before you jump at a proposal with lower commission make sure you are comparing the gross revenue as well, it won't serve you well to pay less commission on much lower rental rates. Rates are typically higher with companies who provide 5 star guest experiences and high touch services.
- Who pays for guests check out cleans?
- Who pays for photography and marketing of property?
- Who pays credit card fees?
- Who pays listing fees to advertise on other channels?
7. Do you provide insurance?
In addition to making sure your vacation rental company has a robust and mandatory insurance policy for each rental it is also important to make sure liability insurance, cyber insurance and professional insurances are comprehensive.
8. How often will you inspect and clean the home?
A dirty, unfit home is not going to entice people to rent it. Small details such as dusty furniture, unreliable Wi-Fi, and other broken amenities are sure to push guests away. To ensure that your property management company will follow through on these needs ask them the following questions:
- Do supervisors inspect the home after cleaning or before a visitor’s stay?
- Do you deep-clean specific areas of the home?
- Has your cleaning staff received proper training?
8. How are you utilizing technology to its full potential?
Don’t sign on with a vacation rental property manager if they are not technologically savvy. The company you partner with should invest in the right tools, some examples are:
- Attractive and user friendly website with online booking.
- e Real-time property reports to owners.
- Dynamic pricing.
- Digital guidebooks.
- Web presence.
- Social Media presence.
Are any of your properties on any major rental sites?
One of the easiest ways to get an idea for a property management company is by finding out whether they list any of their homes on major rental sites. Ask for a detailed list of channel partners that they use to list properties.
At Exceptional Stays, we invite you to ask us these questions—we are committed to taking care of your home. Our Telluride luxury vacation rentals range from condos to cabins to expansive homes; we make sure to put our owners at the top of our contact list. You will get real-time, honest information about your property. If you’re searching for a knowledgeable, energetic, and passionate vacation rental property management company, Exceptional Stays is just what you need.