If you have a property that you rarely use, why not consider using it to generate some revenue by turning it into a vacation rental? Property rentals for vacation purposes are becoming increasingly popular among travellers who need a cosy place to stay for a night or so. These places are great venues for a retreat, group project, business venture, or even simply for a slumber party among a group of friends. This is far different from a hotel as a home property puts a twist to your stay.
Airbnb is a company that offers home rental services and one that you’ve probably heard of. The company does not own any properties itself. Rather, it acts as an intermediary between those who want to rent a space and those who are looking for space to rent. How does it work? There is a variety of home spaces in every part of the world and no shortage of individuals who are willing to have their spaces rented out. Airbnb acts as a platform between the two groups of people. Now, if you need a place to stay, you can simply sign up online, book a particular space, and savour all the amenities and comforts that a home rental property can offer. It’s as simple as that!
Now if you have a property that you are willing to share for rental vacation, then it’s best to collaborate with a property manager. However, selecting the right property manager is no minor decision. It can be rather challenging to find someone who is right for you. With that being said, here are three important aspects that you should consider when collaborating with a vacation rental company:
Property Management Experience
The first thing that you should consider when looking for the right property manager is the experience they have had. A company’s track record in offering rental services in the area is something that has to be taken into utmost consideration.
Most property management companies have encountered challenges with properties and vacation rentals that are specific to their city. How the management deals with such challenges might be a barometer to be used for you to determine if collaborating with them is a plausible decision.
You should also bank on a company’s experiences in looking after vacation properties, in securing a property, and in making the needs of their clients as a top priority. Property management experience matters.
Service Pricing Breakdown
The pricing and services included should also be taken into consideration when dealing with your property manager. The property management company that you will make a contract with should be transparent with all of the costs and provide a breakdown so that you know exactly what you’re getting. If he or she tries to conceal information or make it unnecessarily difficult for you to get information related to costs, chances are the company might not be reliable and dependable for your vacation rental pursuit. It’s important that you think twice before signing the contract. Better yet, check out to see if the company concentrates more on its wide range of services available and has excellent reviews. In such a case, maybe the price is right. You can give it a go and sign the contract.
Personnel Responsible for Marketing
Finally, you should look into the company who will be responsible for marketing your vacation rental. The entire reason why you are looking to pay a company to care for your vacation rental is to get clients who can book your property without having to go out and look for them yourself. Some companies do not include marketing in the terms and conditions of a vacation rental. You might want to get a company who does offer such a service. What’s the use of paying a company to look after your property when no one knows that your property exists? This defeats the purpose of having a company work for you. Therefore, ensure that marketing is included in the package so that you can be as hands-off as possible.
If you’re looking for an Airbnb management service in Toronto, Air Busy Bee is here to help - get in touch today!