Are you considering using your second home to make extra income or planning to invest in short-term rentals but don’t know where to start? Maybe you have already begun renting your home on Airbnb and find yourself struggling with the day-to-day management of the business? If any of these scenarios are true, then hiring a professional Orlando property manager may be the best solution for you!
In order to hire the right Orlando vacation rental management company, it’s important to understand your needs and expectations. We recommend starting to research different companies by investigating their industry experience, asking questions during consultations, checking references from their current clients, and evaluating their customer service skills.
You’ll also want to analyze their knowledge of the local laws and the various marketing strategies proven to work for vacation rentals. Let’s start by taking a look at the purpose of hiring a vacation rental manager:
What does a vacation rental management company do?
A vacation rental property manager can be an invaluable asset for anyone looking to rent their second home or invest in short-term rentals. They are responsible for all aspects of the rental process, from marketing and advertising your property to managing check-ins and check-outs, providing customer service, and handling maintenance issues.
A great Orlando vacation rental manager will also have knowledge of local laws related to renting properties as well as experience with successful marketing strategies that increase bookings. Ultimately, a qualified property manager is key to maximizing profits while minimizing stress in running your business.
Which tasks can a vacation rental property manager handle?
A professional full-service Orlando vacation rental manager typically handles the following tasks at a minimum:
- Property advertising and marketing
- Rate management to maximize earnings
- Communication with guests
- Bookings and signing of rental agreements
- The check-in and check-out process
- Bookkeeping and accounting
- Maintenance issues and repairs
- Cleaning services between stays
But that’s just the start. Some companies, like us, continuously invest in brand awareness and expand marketing initiatives year after year to increase visibility for their properties.
What qualities will a great Orlando property manager have?
Your initial research will show that they have excellent ratings when you search for their company name on Google, and you’ll easily find information on their website about what services they offer to homeowners. They will have firsthand experience within the Orlando market and know your specific community like the back of their hand. While there are countless tale-tell signs of a knowledgeable Orlando property manager, they should succeed in these 5 fundamental categories:
Revenue Management
A professional vacation rental manager will have a revenue management team that consistently keeps track of market trends, real-time data, and numerous key performance indicators (KPIs). Their local experience, paired with industry software, will ensure your property is priced right every night.
Marketing Expertise
In addition, your Orlando property manager should have extensive knowledge of successful marketing strategies such as listing on multiple channels, using SEM/PPC campaigns, and engaging in email marketing. They’ll list your vacation rental on numerous websites — like Airbnb, VRBO, and their direct booking website.
Property Care with Love
Great property managers understand that taking care of a rental property is more than just collecting rent from guests. They will provide stellar cleaning services between stays and handle any necessary repairs or replacements in a timely manner, ensuring your guests have an enjoyable stay at your property. Many properties in our area have pools and other unique amenities that need attention on a regular basis, and your manager should also handle coordinating these tasks — like pool cleaning, lawn care, and pest control.
Comprehensive Owner Services
The ideal property manager will understand the importance of utilizing technology to keep track of bookings, handle payments, and manage communication between you (the owner) and your potential or current guests. They will provide you with an easy way to access your property data and make owner reservations as needed. For us, we offer our homeowners an online portal that they can access 24/7 and provides insights into their current reservations. They can even create owner blocks for their own stays with a few clicks of the mouse.
Your manager should also be able to handle all of the paperwork for you — including business licensing, monthly statements, and year-end tax documents.
Excellent Guest Experiences
Last but certainly not least, a distinguished Orlando property manager will prioritize guest experiences! They will create an environment that leads to positive reviews and repeat guests, which is essential for homeowners looking to maximize their vacation rental profits. Your ideal property management company will also have a team available 24/7 to answer any questions your guests may have, provide support when needed, and handle any issues or complaints.
Ready to partner with a fantastic vacation rental management company?
In summary, your vacation rental management company should provide you with a wealth of information and continuously stay ahead of the trends to help you achieve your real estate investment goals. They’ll have access to market insights and real-time data that you may not have if you rent out your property on Airbnb by yourself. Which, in turn, should help you generate more revenue from your Orlando real estate investment property.
If you’re ready to learn more about partnering with a local vacation rental management company filled with a team of experts, then we’d love to chat! You can start by learning more about our management solutions on our website and scheduling a time to speak with Marcelle about your Orlando investment property.
You can find her calendar by following this link, and her email address is: alice@myvillakey.com.