As we roll into another year, many will resolve to make the upcoming one a time to improve their lives, increase their savings, and reduce their costs. If you are one of them, then 2023 should be the year that you hire a property management group. Although it seems like an expense, the benefits and advantages gained from hiring one will save you tenfold, both financially and personally. These are just some of the reasons you should resolve to let your rental be someone else’s burden in 2023!
Maintenance is a MUST
For most property owners, it is difficult enough to manage the home they live in, much less the second one. Finding good help was not easy a year ago, and it is getting even harder in these uncertain times. The best way to protect your investment when you can’t be there to fix things is to hire a company that will not only be your eyes and ears; they will be your to-doers to get done what you need to do!
Inventory and Loss
When you have a rental that you can’t monitor, you really have no way of holding people accountable when things are broken or go missing. All of those little things not only add up to big expenses, but when something is broken and you aren’t warned, it creates a poor impression of your rental. Most rental property owners live far from their second home or rental and can’t inspect it as they should when people flow in and out. A property management group will be there to make sure that things are in good condition and your “stuff” is not only there, but intact and making a good impression.
Ratings and Reviews
Many property owners choose to go it alone to “save money,” but what they don’t recognize is that ratings and reputations are what either make your rental competitive and stay booked, or can tank your rental income and leave it sitting vacant. If you aren’t on top of your renters’ experiences, addressing their concerns, and manning the ship, it can be really easy for someone to have a poor experience and leave a bad review. Unfortunately, a bad review typically leads to another because people have already formed an opinion, right or wrong. The small price that it costs to make sure that your ratings and reviews remain top-notch is well worth it in vacancy rates and competitive rental income.
Let’s face it: you have a rental so that you can make money “on the side,” but if you are always attending to what is going on with renters, maintenance, cleaning, and messaging for bookings, it is no longer a side job! If you want to give yourself a break for the upcoming year, think of it this way: with all of your extra time and energy, you can throw that into a new venture or just enjoy more quality time away. Be kind to yourself this year!
As we head into 2023, many will resolve to make their lives easier for the year ahead. At CVP, we are committed to making sure that your property is cared for, your rental guests are pampered, and your rental rates are competitive enough to line your pocket. Contact us today to discuss how we can help make the upcoming year the best ever!