Owning a vacation home means being able to come and go as you please; a property management service gives tourists this experience during a vacation. You can visit museums, bars, restaurants and friends' houses. Whenever you please, you can go to phenomenal locations only a stone's throw from your door, and more. Most rentals have several bedrooms, and linen and towels provided for use. You can also use the washer and dryer if you need to. The property management service you choose should be able to accommodate your specific needs.
Using a property management service generally offers a better deal than booking a hotel, since you have control over the accommodation, including cooking, temperature, and when cleaning services are needed. Here are some of the benefits that a property management service can bring. You can define "next day" or "last day" access to the property, and during these days guests typically pay an agreed discounted fee rather than being charged a full day's stay. There are typically no extra hours or days off; adjacent units are not available for use, and usage is seasonal (new guests may come and go on any given day). If you don't need adjacent units, and you don't mind having strangers pay to use your property, then renting out a condo gives you great flexibility. The right property management service will help you to benefit even more from this.
Views are often the main draw of holiday lets, of course. But there's more than one way to take advantage of those gorgeous trees and incredible scenery. In nearly every location, commercial buildings and resorts will be within a few minutes' walking distance. If they don't mind walking a little, renters will be able to see the action in the heart of their city or town of choice. Having photos and in-person insights from friends and family at your disposal when you list your property is always a great way to market your let well. Choosing the right property management service will also ensure you get the most out of your experience as a host for touristic rentals.
I originally chose to buy a used condo which would be located right next to the beach. After looking at numerous condos at a 40% commission and salaries at the regional real estate desk, I decided to opt for a unit in a development north of the beach instead. Not only did I have a quieter location, I also negotiated a lower price.
What should you look for in your AirBnB?
• Cost: How much are you willing to spend?
• Appearance: What is unique about your unit? (Do you want it painted in a certain colour?)
• Amenities: Does your new unit offer a pool? What else does it offer?
• Insurance: What is the insurance situation / cost?
• Number of bedrooms: How many are you renting? This will affect the overhead, such as the approximation of how much you must pay each month.
If you own an AirBnB property, do yourself a favour and protect it properly by reading your property Insurance Protection, or else your unit may be at risk. If it is damaged, it could cost thousands of dollars to fix. Not to mention you may need to find a way to compensate for the lost income as you won’t be able to do business as usual. You can also ask the company for a list of repairs that have been completed and have them send you a copy of the report. You may be able to write to the property management service to ask them to keep an eye on the condition of your property - though the good ones do this anyway.
Working for a property management service, I can tell you that AirBnB rentals are a great way to earn extra income, but before renting a unit, think twice. Keep in mind that it may take some time to get a return on investment, and furthermore, if many units in the same area are rented out year after year you’ll have extra competition to overcome too. In other words, there are pluses and minuses on both sides to consider, but in any case you can save money, time and effort when you have a reputable property management service supporting you.