BalloonBnB
Property Manager
Why Should I Hire a Property Manager?
Every vacation rental investor must pass the junction between DIY property management versus hiring a property manager. The do-it-yourself is a toll-free way, yet full of ups and downs while taking the ask-for-professional-help road takes you to your aim smoothly and swiftly in return for a small fee. Which way would you pick as a smart short-term rental manager?
There’s a lot more to being a vacation rental manager than most people assume. A rental property is a great deal of work. It requires professional hands-on management to take care of an endless list of daily operations like housekeeping and repairs, routine maintenance, guest communications, managing occupancy, addressing complaints and marketing efforts.
It is not sensible to spend your limited time and energy personally handling the day-to-day issues of your property while you can hire a property manager and smartly spend your precious time on expanding your business and coming to grips with what matters most: marketing.
What Does a Property Management Company Exactly Do?
Property management companies are skilled at managing vacation rentals and working with investors and their guests.
They can handle a variety of tasks, depending on the level of delegation outlined in your contract with them. These tasks may include checking guests in and out, providing key handover, performing housekeeping and maintenance, managing revenue and occupancy, and handling security deposits.
When deciding whether to hire a property management company, it's important to consider how much work is involved in running a vacation rental and whether you have the time and resources to handle these tasks on your own.
Some of the most significant tasks that a property management company can take care of include guest communication and booking management, housekeeping and maintenance, revenue and occupancy management, security deposit management, and compliance with local regulations.
Guest communication and booking management: This includes handling inquiries and booking requests, as well as coordinating check-ins and check-outs.
Housekeeping and maintenance: Property management companies often have a team of housekeepers and maintenance personnel to keep the property clean and well-maintained for guests.
Revenue and occupancy management: A property management company can help you maximize your rental income by setting competitive pricing, promoting your property, and keeping it booked as much as possible.
Security deposit management: A property manager can handle the process of collecting and returning security deposits to guests.
Compliance with local regulations: A property management company should be familiar with the local laws and regulations regarding short-term rentals and ensure that your property is in compliance.
It's important to consider whether you have the time and resources to handle these tasks yourself, or if it would be more efficient to hire a property management company to take care of them for you.
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"An experienced property management team can help to maximize the exposure of your rental property by actively seeking out high-traffic online travel agencies (OTAs) and engaging in proactive sales techniques. This can include directly contacting local businesses and authorities to increase the number of direct bookings and reduce vacancy rates. In addition, these property managers typically have extensive marketing and advertising programs, allowing them to draw from a larger pool of potential tenants.
One of the key responsibilities of a rental management team is carefully screening potential guests to ensure the best fit for your property. This includes identifying any red flags that may indicate a potential issue and working to find the most suitable tenants for your rental."
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"A vacation rental management company can help to alleviate many of the responsibilities and headaches associated with owning a rental property. They handle tasks such as housekeeping and maintenance, coordinating staff and handling any issues that may arise. By performing regular inspections and identifying potential problems early on, they can help to prevent small issues from becoming major repairs, potentially saving you significant amounts on emergency repair bills.
In addition, these companies often have a network of trained housekeeping staff and a team of repairmen on hand to handle routine maintenance and emergency repairs. This can help to maintain the overall quality and standard of your property."
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Another significant role a vacation rental property management team can play is revenue management. There is a full-time revenue manager in each company who is constantly observing the market and uses sophisticated tools to optimise the pricing and increase your occupancy throughout the year.
They can also help you sort out your bills, mortgages, taxes, utilities and security deposits. Besides, they generate tax documents and provide you with advice on easy ways to maximise your rental income.
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A property manager’s job is to take care of all your communications. They respond to your potential guests’ inquiries and complaints, and repair requests during a guest’s stay, keep in touch with the past guests and encourage them to return.
Therefore, you can rest assured that the property manager is a strong point of contact that improves the guest experience and collects stellar reviews.
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Another great advantage of hiring a professional property manager is the ability to avoid legal hassles. Property managers try not to overstep discrimination laws.
With a complete understanding of all the state and government laws, an experienced property manager knows how to deal with it in a way that will save time and money while remaining within the limits of the law.
How Much Does it Cost to Hire a Property Manager?
Don't let concerns about cost deter you from hiring a property manager - in the long run, it can actually help you to make more money. By attracting better guests who stay longer and causing fewer damages and repair needs, a property manager can help to keep your rental property in top condition. This can lead to increased income and a more successful investment.
By relinquishing the ongoing responsibilities of your vacation rental to a competent property management team, you can benefit from a valuable source of passive income and scale your business without sacrificing your time or becoming overwhelmed by the workload.
Vacation rental management companies typically offer a range of payment options, including fixed fees or a percentage of income. At Balloon BnB, we offer customizable solutions with a percentage-based fee ranging from 10-20% depending on the services chosen. We also have special discounts for rental owners with multiple properties, making it easier for them to enlist each unit for management.
Property Management Pricing Packages?
Online Management
At Balloon BnB, we handle all the key aspects of your vacation rental business, including advertising your properties on online travel agencies (OTAs), managing finances and revenue, and handling guest communications around the clock. We are here to help alleviate the burden and make the process easier, whether you are new to the vacation rental industry or an experienced professional. Our goal is to take the load off your shoulders and allow you to focus on other priorities while we handle the day-to-day management of your rental properties.
Quality Assured
If you want comprehensive management support, our never-ending service plan may be the right choice for you. In addition to managing self check-ins, our team is available to handle meet and greets and provide quality auditing and proactive sales efforts. With this plan, you can relax and let us handle all aspects of your vacation rental business. You won't need to worry about a thing!
Remote Management
In addition to providing general management services, it is important to maintain the condition of your rental property. Our remote management plan offers assistance with managing supplies and overseeing the cleaning and maintenance of your property to ensure it is well-maintained. With this plan, you can enjoy the benefits of professional management support while still keeping your property in good condition
Should I Hire a Property Manager to Rent My House?
There are several factors to consider when deciding whether to manage your vacation rental property on your own or hire a trusted property management service. These can include the size and location of your rental, the number and type of amenities offered, the number of properties and units you manage, your availability and the average occupancy rate.
In general, you may want to consider hiring a property management company if you:
live a significant distance from your vacation rental
own multiple properties and units in different locations
want to benefit from owning a property but are not interested in the day-to-day management of a vacation rental
feel overwhelmed or frustrated by the responsibilities of managing a property and want to have fewer things to worry about
do not feel well-suited to managing a vacation rental property
have a full-time job and see your vacation home as an investment and a source of additional income
have a growing business that is becoming more complex and in need of additional help to manage your property properly
Working with a property management company that has specialized experience can be extremely beneficial for you, your property, and your guests. These managers can help you to achieve your goals and preferences and keep you informed about the status of your business through regular reporting. You can also stay involved in the process through your Zeevou account and communicate your expectations with the team.
By hiring a property management company, you can enjoy a hands-off stream of income while growing your business. With all the benefits of professional management, why would you want to handle the responsibilities of your property on your own?