Owning rental properties can be a great investment. However, the property or properties you own must be managed. It may start with using a platform, such a VRBO to find renters, but you need more than just a way to find renters.
With VRBO, you can manage your property remotely by giving guest access, adjusting lighting and temperatures, tracking the noise level and even providing information for your guests. Here are a few tips to help you manage your VRBO rental property.
Hire an Experienced Housekeeper
While you can do plenty of things remotely with VRBO, you can’t exactly change linens and clean the kitchen in your rental. Hiring an experienced and dependable housekeeper will give you the ability to manage your property better.
Not only will they be able to clean your rental properties, but they can also report back to you if something is broken or doesn’t seem quite right. Hiring a good housekeeper will go a long way when it comes to managing a VRBO rental property.
Have Your Own Website
Along with using VRBO to market your properties, you should have your own website. This gives you a central area for guests to find information and get their questions asks. You can include a fact sheet or an FAQ section answering the most commonly asks questions, which will save you and your guest’s time.
In addition, you can collect guests email addresses on your website, which gives you a way to stay in touch and promote your rentals to them in the future.
Hire a Good Handyman
Managing rental properties means you will have to have someone ready to fix things for you. This person should be able to respond 24/7 as you never know when a plumbing emergency may happen. Make sure you have a good handyman and maybe a good plumber to contact in the event of an emergency or when a repair is needed.
Create a Pricing Structure
Along with maintaining the property and keeping it clean, you want to have a pricing structure in place. You want to have rules and regulations for cancellations or reservation changes, along with pricing for the busiest time of year compared to the slower time of year.
Creating a good pricing structure will ensure you remain profitable with your VRBO rental properties. Make sure you factor in costs, such as ongoing maintenance, cleaning fees, taxes, etc.
It may seem like a bit of a large task to manage a VRBO rental property, but it can be well worth it. When done correctly, vacation rentals can be very profitable and a great investment.
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