If you decide that you would prefer the help of a certified service property management company in getting your vacation rental on the market or taking care of some off the services you offer, you may have a difficult time finding where to start. Which questions are the really important ones, and how do you know what to ask? Well, as the leading provider of New England’s rental management services, New England Vacation Rentals is here to help. Here are some of the most intuitive frequently asked questions, designed to divulge and inspect the information you receive from any full service property management company:
How Long Have You Been Involved in the Local Vacation Property Market?
In the real estate market, location is everything. However, we don’t mean this in the traditional sense, but that whenever considering a property manager or rental management services your first question should address their knowledge of the local market. Real Estate markets can be vastly different, even within states, and you want a manager who has a good grasp on the local bylaws, as well as all the factors involved with the vacation season of your particular area.
What Are The Terms of Your Contract and What Charges Are Involved With Your Services?
The fees involved with most full service property management companies’ are generally 30-50% of the rate your guests pay per one night’s stay, which is quite hefty. If you are looking at partial rental management services rather than full-service, you may want to know whether their 3rd party or in-house on-site services can be purchased separately, so that you can take care of the other parts of the business yourself.
As far as contract length goes, most certified property management services have contracts lasting anywhere from 6-12 months. Logically, you would prefer not to get locked into a contract, but if it’s unavoidable, ask your manager to include a clause which allows you to opt-out of their services if they do not perform up-to-par.
What Services Do You Include in Your Management Costs?
Many “full service” property management companies actually charge you separately for specific services, so before entering any contract, make sure that your property manager gives you a complete list of every service included in the management costs. Also, be sure that they provide all the services that your rental will need.
Do You Accommodate Guests Who Book Through 3rd Part Channels or Directly From the Owner?
Most certified property management services should be willing to accommodate guests which do not book through their channels, but this is definitely something you will want clarified before entering into any contracts.
What Marketing and Booking Strategies Do You Utilize?
If you’re hiring a full-service property management company, you want to make sure they can effectively take care of the marketing and booking services you are hiring them for. How responsive is the staff? What additional costs are involved in your marketing strategies? Is your website mobile-friendly, and do you accept credit cards? This is an extensive multi-segmented question, and it is best to do some research about everything you will need answered in terms of marketing and booking strategies before asking your potential property manager.
When Will You Update Me On The Condition Of My Rental Property?
You want the rental management services you employ to check your house often. This means a walk through after each guest departs and routine checks in the off-season. You want to know your vacation home is in good hands!
While, these are some of the best questions to ask your potential rental management services, you can never have enough information. Check out what a few of their current clients have to say, and try to discover some tips for the local market. Last of all, trust your gut. If they have everything you are looking for, but something just doesn’t feel right, do some more research and see what you can find. If you have any questions or would like to learn more about our certified full-service property management services, feel free to contact us!