Managing Multiple Vacation Rentals: A Short Guide
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If you’re a vacation rental owner, you know that managing multiple vacation rentals can be a double-sided coin. On one hand, there’s tons of potential income to be had, along with the opportunity to meet people from around the world. On the other, owning multiple vacation rentals requires lots of planning, organization, and attention to detail–in other words, it can be a huge hassle and requires lots of time and energy.
In this blog post, we’ll cover a few aspects to think about when managing multiple rentals, from creating your own system of management to curating a great guest experience.
A System of Organization for Managing Your Vacation Rentals
The first step towards becoming a successful owner of multiple vacation rentals is to establish your own system of management. Staying organized is key to managing a successful vacation rental, and when you multiply that number, it becomes even more important to plan everything out as carefully as you can.
No matter how you decide to go about creating your system, an easy first order of business is to create a few checklists: one for your cleaning crew and another for any regular maintenance that needs to be performed. You don’t even have to write them yourself–there are plenty you can download right from the Internet. This will help you to standardize and keep track of which tasks need to be completed for each of your vacation rentals, allowing you to maintain your high standards for cleanliness and maintenance across the board.
Technology can be a very helpful tool here–not only can it be used to share checklists with your cleaning crews and maintenance staff, it can also help you to streamline and automate your processes for scheduling and bookings.
Keeping track of and managing bookings is crucial to the success of your short-term rental business, especially if you are hoping to own more than one rental at a time. Investing in software that helps you to manage all of your bookings from one place is incredibly helpful, and it can mean the difference between staying organized and falling apart under the stress of managing multiple calendars.
Finding Your Cleaning and Maintenance Crews
To fulfill those high standards of cleanliness and maintenance you set out to hit, it’s critical that you find the right cleaning and maintenance crews to tackle the work for you. Rather than handling every detail of hiring and scheduling the crews themselves, many short-term rental owners opt to outsource the work to a property management company, but if you don’t want to pay the extra commission, it’s certainly feasible to do it all on your own. One thing to keep in mind when you’re managing multiple properties, however, is finding a cleaning and maintenance company with a crew large enough to fit your needs. Multiple properties are not a one-person job, especially with regards to cleaning and maintenance.
In addition to these concerns, inspections should be performed of each property on a regular basis to ensure that everything is working properly. This includes checking that things are in working order like appliances, plumbing, and electrical systems, and fixing any problems that might have arisen since the last inspection was performed.
Curating an Excellent Guest Experience
In order for your short-term rental business to become a success, another puzzle piece is curating an excellent guest experience, one that will keep visitors coming back for years to come. If a guest has a great time, they’re more likely to rebook with you, and there’s a ton of reasons why repeat guests can benefit your business.
The most important aspect of guest experience is communication. This is why it is key to respond to guests as fast as possible, whether it’s just a question about the coffeemaker or something as crucial as how many people the home can sleep. Answering quickly not only helps you to build relationships with guests, it also shows how committed you are to providing the ultimate guest experience.
Finally, try to create the most welcoming environment possible for your guests. This means not only providing the basics, but going above and beyond to make your rental feel like home. For instance, instead of purchasing the cheapest furniture options that work with your budget, spend a little bit more to purchase ones that are cozy and comfortable. Throw in extra amenities such as gaming or sports equipment to make their experience even better–little touches like this will pay off in the long run, and you’ll find your guests coming back each and every year.
Managing Multiple Properties Doesn’t Have to Be a Hassle
Although managing multiple rentals requires lots of planning and hard work, it can be a rewarding endeavor, especially when it comes time to tally up your profits for the year. If you follow this guide, you’ll find yourself ahead of the game when it comes to your short-term rental business.
However, if you’d rather not take on all of the work yourself and elevate your revenue in the process, check out LocalVR’s Program for vacation rental owners. Our Program offers owners the opportunity to preserve their property value and fulfill their passive income dreams, all without ever requiring them to lift a finger.