Florida is one of the hottest destinations in the United States. From July to September, Florida had more than 35 million visitors.
This was a new record for the third quarter. For the year-to-date, Florida has hosted over 105 million visitors.
With so many tourists coming to the Sunshine State, vacation rentals see plenty of demand. This includes Fort Myers, a popular destination on the state's west coast. With the right management, you can fill all of your bookings for the calendar year.
Read on for a comprehensive guide to vacation rental management. Explore your rental management options and how to earn passive income on your investment property.
How Does Vacation Rental Management Work?
Managing a rental property is tough work. You have to market the property to get bookings.
Once tenants agree to come, you need to prepare the property for them. It has to be spotless, or you will have negative reviews and a poor reputation. When something breaks during their stay, you are on the hook to promptly fix it.
Once the short-term rental ends, you start the entire process again. This process burns hundreds of hours of your time.
For these reasons, many owners turn to an investment property management company. They will handle all of this tasking for you. With more time on your hands, you can focus on expanding your real estate portfolio.
Relying on property management turns your investment into a source of passive income. You can earn money while putting in little direct work towards the property.
What Do Vacation Management Companies Do?
Rental management companies perform many valuable tasks for their customers. It starts with marketing campaigns designed to generate more leads for your property. They also handle customer inquiries to help convert these leads into bookings.
Your vacation property manager will coordinate all bookings. The goal is to fill as many days as possible and maximize your revenue.
When a tenant comes in, the vacation property manager will get everything ready. They will hire a cleaning company to change the sheets, mop the floors, and dust the home from top to bottom. The property manager handles check-in and check-out as well.
Also, property managers take care of any maintenance required in between or during stays. If the hot tub breaks, they will visit the property and arrange for a professional repair person to come in.
Property inspections are another important part of their job. They will inspect any property damage after a tenant's stay. This inspection is the basis of any fees levied against the tenant.
Your Guide to Property Management for Vacation Rentals
You are now ready to hire a rental property manager. Without a property manager, handling day-to-day tasks becomes overwhelming.
Vacation rental management handles everything from coordinating bookings to property inspections. They do all of the hard work so that you don't have to.
PMI Gulf Property Solutions has decades of experience managing vacation properties. If you are looking to hire a vacation property management company, contact us today at PMI Gulf Property Solutions to speak with an expert.
