Vacation rentals can be a great way to make money and invest in the future, but as all owners know, it takes a lot of time and energy to create and maintain a successful rental. Some of these time-consuming tasks include communicating with guests, managing caretaking, regularly adjusting prices, organizing check-ins and check-outs, calendar coordination, marketing, and optimizing multiple listings.
Professional and experienced vacation rental management companies like Rental Advisor are on call 24/7 and do all of the above and more with knowledge and efficiency. Yet, many owners are wary about paying the 20% management fee, convinced that the money they save validates the extensive time and energy they spend trying to market and book their property.
Interestingly, after being in the vacation rental business for over ten years, we find that owners who manage their properties themselves actually end up losing money in the long run.
For example, imagine that an owner charges a nightly rate of around $200 and enjoys a 60% occupancy, making around $3,600 per month. Owners like this may wonder why they need a property management company when they are doing fairly well.
Fortunately, when Rental Advisor takes over, we dramatically improve occupancy rates in the vacation rentals we manage. If we increase occupancy by just 13% (4 more nights booked per month), the owner is making the same amount of money without having to increase the nightly price. The best part is that though they are earning the exact same amount as before, they are now doing zero work! In other words, we deal with the headaches while our owners sit back and relax.
Just imagine… No more messaging guests day and night, arranging cleanings, adjusting prices, organizing check-ins, working on marketing strategies, etc.
Now, imagine that Rental Advisor can add another eight bookings per month and increase the nightly rate as well. Even with the 20% fee, an owner's income increases even more.
Fortunately, you don’t have to imagine! This is because we have:
Super Host status and an extensive knowledge of listing search engines, which makes our properties more visible and increases bookings.
Experienced advisors who understand dynamic pricing, listing optimizations, and so much more.
Booking specialists who are on call 24/7 to answer guest questions and accept bookings.
Calendar coordination that allows you to be in complete control of when you’d like to block off time for family and friends.
Aggressive marketing that focuses on bringing in maximum cash flow and steady bookings.
Reservation management that guarantees that all inquiries, screenings, and check-ins are taken care of.
Caretaking and property management that assures caretakers are on track and accountable so that guests are happy.
So, the question is, why would an owner choose to manage their vacation rental themselves, when they could put their feet up and relax while enjoying an increased income? Feel free to email us to find out more.
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