If the idea of employing a Cape Cod property management service to one of your Cape Cod rentals is new to you, you’re sure to have some questions about the how the relationship works and what the benefits are. Here’s an outline of the pros and cons of Cape Cod property management services:
Less Work for you
Cape Cod property management services, in essence, take care of all the hard, time-consuming work on your Cape Cod rentals. Your property manager will be there to answer tenant inquiries, as well as supply information, organize the workforce, meet with potential renters, and ensure that bills are paid on time. In addition, the property manager takes control of all responsibilities related to finding and screening new tenants. These property managers are well-versed in local laws and seasoned in rental procedures, which not only saves you, the property owner, time and money, but also reduces the risks involved, and ensures effective screening processes.
Cheaper 3rd Party Services vs. Cost Increases
Contracting a Cape Cod property management company generally reduces the costs involved with the third-party maintenance, cleaning, and customer services of which they employ. While, they many not hire the cheapest services on the market these parties are incentivized by future business on the property, leading to fairer prices. These mutualistic relationships encourage trustworthiness and responsibility among vendors, and can be particularly beneficial for property owners who are not well connected within the industry.
Everything comes with a price, and quality property management in Cape Cod is no different. As a part of the contractual agreement you will form with these services, you will either pay a base fee, or a commission rate related to the rental income your Cape Cod rentals generate. Property managers can be contracted at various price points, and sometimes it is worth it to pay a little bit more for home insurance, and quality management services.
Lack of Attentiveness
Property Managers are not property owners, and thus they will not always handle business in the way that you would yourself. For those that need complete and utter control of every matter involving their Cape Cod rentals this route is probably not the preferred. On the other hand, property managers tend to be rather strict in their screening processes, and may turn away moderately acceptable potential tenants for slight imperfections
The use of property management in Cape Cod has, and will continue to grow throughout New England. There are lots of Cape Cod Rentals on the market, and property owners value the level of services provided by these companies. They make it easy to turn your property into a monthly premium, while assuring your vacation home is free for use when you want it.
If you think third-party property management services would make a good fit for your Cape Cod vacation home, browse our website for more information, or contact us here. Together we can make your vacation property into the profitable investment you’ve always wanted!