With summer over and our season about to “kick in,” many of our customers who took advantage of great pricing to jump into the vacation rental market are now wondering how to go about renting those properties, more specifically, if they should hire a management company or try to go it alone.
Of course, as a broker who runs Duncan Vacation Rentals, a very active property management company, my advice to our customers and to all investors is to hire professionals to get the job done. An expert property manager can help market rental properties to minimize vacancies and maximize income, particularly if, like TeamDuncan, they use easy to find web sites and easy to use on-line booking programs. In addition, a pro will have the ability to fill vacancies with the best possible tenants, oversee the property so it is kept in good condition, coordinating routine repairs, track income and expenses, negotiate rental agreements, comply with federal, state and local laws, and finally, respond to tenant requests and deal with problems.
Hiring a professional management company is an excellent way for an owner to save time and even money, given all the services the professionals can provide for a relatively small fee. Given the fact that most vacation rentals have probably been booked by now for the upcoming season, if you’re just getting started with renting out your new vacation rental, don’t hesitate to ask a pro. We can’t be a substitute for an owner, but we can certainly owners reach their investment objectives.