Owning a second home is a dream a lot of people have. In addition to creating a convenient place to vacation, second properties also offer convenient tax write-offs and the chance to rent out your property to others for additional passive income. However, if you aren't thrilled about the idea of being a short-term rental landlord, you could work with a property management team. Here are three tasks property management teams can take off of your plate, and why you will love the service they offer.
1. Keep Your Rental Busy
When you rely on your vacation home for a steady stream of passive income, it pays to keep the place as booked as possible. However, unless you commit to marketing your property in your free time, it can be tricky to keep the rental booked, which could make it difficult to turn a profit.
However, property management teams often have entire pages on their website completely dedicated to client rentals. These pages make it easy for anyone looking for a place to stay on vacation to find it, generating interest in your business. By keeping your rental booked, you can rely on a steady stream of income, helping you to pad your monthly budget.
2. Handle Calls from Renters
When you rent out a property, you can count on a few things to happen for sure. Oftentimes, vacationers have plenty of questions, from where to get the key to the pool to what time they can check out on the last day of their trip. Oftentimes, it can be difficult for landlords to handle the influx of calls and texts whenever the property is rented, especially if landlords have jobs, families, and other homes they manage.
Property management companies can manage the time-consuming work of answering rental calls, creating a better guest experience for your renters while reducing your personal workload. Additionally, many teams offer 24/7 service, giving guests fast, easy, and accurate advice whenever they use your property.
3. Manage Repairs Efficiently
When things go wrong at your vacation home, it could damage your entire property. For instance, a simple leak in the ice maker could allow a steady stream of water that damages your flooring, or a damaged air conditioning system could allow humidity to build inside your property.
Fortunately, property management teams always have repair professionals on call and ready to handle problems, protecting your house and your financial stake in the property.
Remember, anytime you start thinking about working with a property management team, it is important to vet different businesses carefully and do what you can to read as many landlord reviews as possible. Consider talking with other landlords in your area about who they use to manage their listings, how their overall experience has been, and whether they would recommend the service.
To learn more, contact a vacation property management team.