Our clients have told us managing their short term vacation rentals can take them up to 40 hours a week. That’s definitely on the high side if you just own one property, but short term rentals can be time consuming. Here’s what’s involved managing a property.
Pre-Planning: The Research
Not all short term rental properties are created equal. Before you purchase a home in Avon, you’ll want to make sure it’s legal to rent out (most are). Then, you’ll want to make sure it’s attractive to vacationers, with the right amenities, and that it’s priced right for its value. When we work with clients, we take advantage of our familiarity with Avon and the research platform Airdna to create a detailed report.
Optimize: Room Setup
With short term vacation rentals, you’re balancing beauty and ease with functionality. Get rid of anything that’s dry-clean only and make sure there’s nothing super breakable, and paste instructions on the TV and coffeemaker. At the same time, you have to put some faith in the guests—they’re not rock stars out to shatter every wine glass.
When we set up a property, we use
Optimize: Create Processes
You will need a certain number of systems in place to run a successful short term rental. At the minimum, you’ll want pre-drafted emails to answer common guest questions when they inquire about your property and a plan for housekeeping (another way remote access smart locks can be helpful).
List: Photo + Video
High resolution, well-lit, and wide-angle photographs that showcase your property’s beauty are a must. So are detailed descriptions of your property’s amenities.
List: Multi-Platform Marketing
Airbnb and VRBO have some overlap in their audiences, but not every property is on both platforms. That’s a mistake because to reach the widest audience, you’ll want to be on both sites. We use Guesty to list our clients across multiple platforms. It also helps us avoid double bookings (never a good thing).
Financial Planning: Mind the Details
You’ll need to collect taxes and send them in periodically, as well as ensure your business licenses are up-to-date.
Enjoy: Let the Money Roll In
This part is up to you. Do you take on the mantle of an innkeeper and run everything yourself? Or would you rather view this as an investment and outsource the work? We’re here when you need us!