The rental market has not seen this type of fervor in decades. Thanks to COVID hopefully being a thing of the past, many vacationers who were stuck at home for months are getting out and about! The key to your profitability during the summer vacation rental season and beyond is having an Airbnb management company that understands pricing, the importance of ratings, and overseeing all of your rental property concerns. Before you hire one and entrust them with your rental, make sure to look for these five qualities!
If there is one quality that your Airbnb management company must have, it is responsiveness. Not all things can be taken care of or fixed immediately, but they can and must be responded to. Repair needs are not something that you will ever eliminate entirely, but when they do happen, your vacationers don’t want to sit around waiting on a response! Find a property management group that understands communication and responsiveness are some of the biggest priorities there are.
The reason most rental property owners hire an Airbnb management company is because they can’t be on-premises or available to take care of all the many things that it takes to maintain and keep a rental looking great. Before you hire a property management company, make sure that they understand the importance of maintenance to keep your rental looking and working at its best. Renters can be hard on your place, which is why you need someone looking out for your biggest investment! You can’t eliminate the need for repairs, but you can reduce the need for them by being proactive maintenance-wise.
Established in the Market
Find an Airbnb management company with a good reputation in the industry. It takes a lot of experience to get it right. It also takes having a well-established crew of people to help. When you are just breaking into the industry, it takes a while to coordinate things, find the right vendors and subs, and get the process down. You don’t want to be someone’s trial and error!
Maximizing Profits with Quantitative Data
There is an ebb and flow that goes with rentals, and the key to making the most profit is knowing trends for peak and off seasons, along with what is going on in the industry itself. Find an Airbnb management company that has the quantitative data to predict
when you can raise prices and when you should lower them to minimize vacancies. At CVP, we have perfected the rental process and can show you in quantitative terms what works, what doesn’t, and how to get the most all year long!
They Care About Your Rental!
Some rental property companies are all about taking in contracts and the sale, but after the document is signed, some of the promises fall short. Find a company that cares as much about your rental as you do. A good Airbnb management company understands that its success depends on the condition and rentability of your rental. And find one that cares about every customer!
Not only is the real estate market still on fire, the rental one is, too. If you aren’t at zero vacancy for the summer and beyond, then it is time to think about finding a new Airbnb management company. The quality of the company you choose is directly related to your profits, so think carefully and do your research before putting someone in charge of one of your greatest investments. At CVP, we have perfected the rental process and want to ensure that you do too! Contact us today
to discuss how we can take your rental to the next level!