Ownership of short-term rental properties and vacation rentals is just as much of a business as any other. Both are in need of a good work ethic and close supervision to succeed. Broken Arrow investors often assume that having a short-term rental or vacation property is an instant way to receive passive income. However, the truth of the matter is that short-term and vacation rentals are often even more hands-on than long-term rental homes. As a consequence of frequent changes in tenants, short-term or vacation rentals demand a lot of concentration, as they need to be managed properly.
There are fundamental differences in handling short-term or vacation rental and other long-term rentals. But rather than being different tasks, managing short-term and vacation rentals simply requires more: more marketing (and more often), more tenant screening, and more cleaning and preparing the rental property for the next tenant.
If you have excellent organizational skills and a knack for answering multiple tenant inquiries, then perhaps you’d want to consider making a business out of short-term rentals or vacation properties. A few key roles have to be filled, though, before you decide to put up your rental property for rent.
Unless you live in the vicinity and can professionally clean your rental property yourself, consider hiring a house cleaning service. In order to keep your property organized and maintained well, you will most likely need to hire a reliable housekeeper. This person can help you identify potential problems early and address them before they become expensive repairs.
Repairs come with the territory of property investments. It’s always best to have a good handyman on call. This person will have to live within the vicinity of your property and can easily be accessible for any maintenance issues that need immediate action, or even accommodating guest complaints. If your short-term rental or vacation property has a pool or spa, you will need someone to keep it clean and to regulate the chemical levels.
If the need arises, be willing to hire one person, or different individuals, to get the job done. What’s important is that your property is maintained well and good. Ultimately, tenants will leave poor reviews if the property condition is not what they expected or wanted, which can make it harder to rent your property in the future.
Furthermore, you should prioritize communicating with tenants and getting your property on their radar, aside from caring for the property itself. A successful short-term or vacation rental begins with effective advertising. There are a lot of websites and app platforms that will advertise your property for you. Make sure you list yours in one of them! Another way to get traction on your rental properties is by setting up a website for it. Setting up a website for a vacation home, in particular, is inexpensive and very effective. Don’t forget to include lots of photos and a fact sheet that contains frequently answered questions regarding your property so that possible tenants will know ahead of time. You can also allow your guests to view availability, request reservations, and to pay their rent and deposits online. This makes it possible for your tenants to see that you are ready to cater to their needs.
Nonetheless, there’s nothing better than good communication. As the property owner, you will need to respond quickly and effectively to inquiries, tenant complaints, and more. If you think that you will not be able to handle tenant relations, a good option may be to hire a property management company to do it for you.
The right Broken Arrow property manager can offer a high level of professionalism and customer service, freeing up your day so that you can do what you want to do. Short-term and vacation rental tenants need their space and privacy, but that doesn’t mean they aren’t looking for quality service. Anything you can do to help them feel satisfied with their stay in your rental house can help keep your properties fully leased month after month, year after year.
If you’re looking for professional property management, you’ve got it. Real Property Management Tulsa has a team of Broken Arrow property management experts available to facilitate your needs. From filling vacancies to handling maintenance, we get the job done for you. Contact us online or call us at 918-532-7020 today.
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