There are several factors in choosing a property management company for short term rentals:
- Be sure they actively service the area and community which your buying and have experience in this particular area. Do they have a current owner in this area who would refer them.
- In this particular community/resort and similar property, what are their booking rates and occupancy rates. As for ROI on a similar property to yours.
- They should have aggressive marketing strategies for obtaining strong bookings for your property. What websites do they advertise on? What social media are they actively involved in? What are their guest retention strategies for follow up bookings?
- Do they offer an interactive calendar so that you can market and book your property as well.
- How long have they been in business. (You are looking for long-term stability.)
- How much insurance do you carry and is the staff bonded. What's covered.
- How will equivalent rentals be handled.
- What are the monthly management fees and what do they include. What are the booking fees. Are there other charges.
- Will you receive monthly statements and ask for an example of one to review.
- How are emergencies handled.
If you have additional questions, please feel free to call or email:
Realtor & Investment Home Specialist
La Rosa Realty, LLC
01.407.274.8476 / firstname.lastname@example.org