Why Go with a Property Management Group? Part I
Do you have a second home in a popular vacation area? If so, and you would like to turn the time its sits empty into some extra income, then renting out a vacation property can be a great way to generate additional revenue. There are a few things to consider before you take the plunge, generally it’s not as easy as finding a renter and cashing in.
An experienced property management company can make the daunting task of renting your property completely manageable. There are different types of property management. They range from booking services, which will focus on marketing, and managing your inquiries and bookings, property management companies, which will handle maintenance and upkeep, and finally, full-service agencies which can take care of everything from collecting payments and meeting guests as they arrive to marketing. It all depends on your budget, the amount of time you have to dedicate to managing the many aspects of renting, and how involved you want to be.
There are taxes, fees and payments, insurance, inquiries and bookings, cleaning and maintenance, marketing, and other administrative tasks involved. Overwhelmed yet?
As an owner, you’ll need to determine how much time you have to spend on the day-to-day operations. Do you have a few hours a day - almost every day - owners spend trying to market and manage their property? A few hours a day may not seem like a lot, but if you’ve got a full-time job or do not live close to your rental property this can be nearly impossible without help. Stay tuned over the next couple of weeks to learn more about how an experienced property management / rental agency such as Dream Destinations LLC could be the right choice for you.