The vacation rental market is set to grow by 84 billion dollars during 2023-2027. There has never been a better time to grab a slice of the rental market pie than now. Investing in real estate is a great way to build your portfolio, but the money you make from the rental property is the main benefit.

Managing a rental property can be a lot of work. The best way to capitalize on your property without spending all your time managing it is to hire someone to do it for you.

Keep reading to find out what questions you should ask if hiring a service that specializes in vacation rental management in Northern CA.

Service Fee

One of the first things you should ask your prospective rental management service is how much will it cost. Each service is different and the way they structure their fees will also differ.

You need to understand what fees you’ll be charged as well as the percentage they’ll be taking as their commission. This is the only way you’ll be able to assess if you can afford to hire them.

What Services Do You Offer?

When choosing a vacation rental property management company, you need to make a list of the services that are important to you. It doesn’t help you if you find a great company that fits your budget but they don’t offer the services you really need.

If you don’t want to be bothered with cleaning the property, you should look for a company that is full-service, or combines its services with third-party maintenance and cleaning services. Companies that prioritize property care are important if you aren’t located close to the property.

A full-service property management company will handle everything for you, including:

  • Marketing your property
  • Ensuring your property is booked
  • Handling reservations
  • Communicating with renters
  • Responding to emergencies
  • Keeping your listings up to date
  • Regular maintenance and regular cleanings

If you prefer to be involved with your property, you might not require a full-service property manager. This is why it’s important to decide what services you need beforehand, as it will make it easier to find a suitable match.

How Long Have You Been in Business?

Experience is king when it comes to dealing with rental properties. You want to know that they have been in the business for a while and they’ve made a success out of it. Companies with years of experience and a proven track record will give you a sense of peace that your property is in good hands.

The longer a company has been in business, the more likely it is it’ll be able to help you turn a profit. These companies will know all the ins and outs of the market and will handle any issues that arise.

But don’t worry if you find yourself in a new market. Rental management services might not have existed in your area a few years ago, so you won’t be able to find a company that has years of experience. If it comes to this then you need to rely on other questions to ensure the potential service is the right fit for your needs.

Some questions to ask newer companies include:

  • How many properties does the company currently manage?
  • What types of properties does the company mainly manage?
  • What is the occupancy rate of these properties?

If you’re dealing with a newer company, the best information will come from their current and previous clients. If their clients are unhappy, you’ll find out pretty quickly and it might be best to steer clear of them. 

What Happens When the Property Is Empty?

While the goal is to never have an empty property, that isn’t always the case. So, it’s important to find out what happens if your property isn’t rented out during the low season. 

You need to find out how the property will be maintained during this period and if there are any services you need to consider during this time. It’s important to keep up with the landscape and management of the property, even if no one is staying there.

So, it’s a good idea to discuss in detail what will happen when the property isn’t rented and the fees surrounding it.

How Will You Keep My Property Safe?

One of the benefits of owning a vacation rental property and outsourcing the management is that you don’t need to be located near the property in order to be successful. But the downside of this is that you can be hours or days away from the property if something goes wrong.

You need to discuss with your potential vacation rental management companies what will happen in the event of an emergency

Regular home checks are necessary to ensure the property is maintained properly, so be sure to ask how often they’ll check on your property. You can also ask if they have any systems in place to keep your home safe.

Consider Vacation Rental Management in Northern CA

Managing a rental property can be tiring work. You need to find people to stay in your rental, ensure that your property is ready for the next guest, and stay on top of maintenance. If you’re looking for a way to make your rental property more profitable, while doing less work, consider hiring a company that specializes in vacation rental management in Northern CA.

If you’re ready to hire a vacation rental management service, contact us. BookitBnB is a full-service vacation property and Airbnb management company that offers a wide range of services to keep your property booked.