Experts predict that vacation rental properties will generate $19.3 billion this year. Further, 450 million people globally use vacation rental properties. In the United States, 1,985,280 vacation rental properties have a professional who manages them.
Short-term properties can be a lucrative investment. However, you need short term property management to help maximize profits.
That is because short term property managers possess a vast amount of experience. Since they are handling many clients and have worked their way through a wide range of circumstances, they have seen it all. Plus, they are the best source to go to when you have questions about vacation property regulations.
Property managers ensure success, and here is why.
Professional Property Maintenance
You will only attract short-term renters with a clean property. A pristine property leads to a superior customer experience and positive survey responses after they leave. Without help, cleaning the property after every visit can take a lot of time.
You also want to inspect the property and clean it quick to get a new visitor in. The way to make money is through high occupancy rates throughout the year.
Renters may need assistance during their stay. It is essential to address their concerns promptly, and professional property management helps with this too.
Streamlining the Process For Checking In and Checking Out
Excellent property managers will handle the registration process. They will also look to make it the most efficient for you and the visitor.
This includes coordinating keys and providing itemized appearance directions. Should the visitor need support, they will give this too.
Effective Property Marketing
You will need to attract visitors. This requires intelligent property marketing. Property management experts know where to list the property.
They also know the tricks of the trade to make a listing that draws in customers through images and clever, creative advertising descriptions. An expert short-term property management company knows what visitors are looking for from your property, and they will capitalize on it.
Short-term property rentals must be able to provide their visitors with 24/7 guest support. Unexpected situations can happen; when renters need help, the property management company will give it.
Whether it is a concern of the visitor, a lost key, etc., the property manager will handle it and with a professional touch.
Optimize Your Revenue
Pricing determinations throughout the year will impact your occupancy rates and ROI. You want to ensure that short-term rentals are not overpriced or underpriced, but at the right rate.
Furthermore, in areas like Park City, Utah, there are certain times of the year when you can exploit a higher amount. It can be by holidays or by the season. Let a professional help you price it right throughout the year.
The Experts in Short Term Property Management
Short-term property rentals can be a magnificent investment opportunity when you have the right partner to help you. Choose PMI Park City for your short term property management needs.
We are a full-service real estate asset firm with state-of-the-art technology. You can see how your investment property is doing with real-time access to billing and maintenance requests.
We are a fast-growing, locally owned, and independently operated dynamic franchise with the power of perfection for nearly 20 years. Contact PMI Park City today!