Do you own a property that you rent out to earn income? Do you manage it on your own? Don’t you ever wish you could let a third party manage it for you and free yourself from all the hassles that property management brings? If you are a trained hotelier or have extensive experience in the hospitality industry, you may find it simple to manage your property yourself. However, if you are doing it just because you don’t know that vacation rental agencies exist, then take time perusing the following three steps on how to find and choose the right rental agency for your property.
Tip # 1. Find a reputable agency.
Find a reputable agency that has a good portfolio of similar types of properties in the area where you holiday rental is. It would be a bonus if that agency maintains an office near the location of your property. This is important because some renters would be happy to know that they can promptly call the attention of the people concerned when problems arise. A radius of a few miles would be an adequate distance from the property to the office, although having said that, some people don’t really mind at all if the rental agency’s office is near or not. It’s enough for them that they are given contact numbers or email address of the agency so that they can communicate whenever the need arises. Do some research on several rental agencies and find out which of them has the best portfolio. A local chamber of commerce may be a good source of information regarding the reputation of such rental companies.
Tip # 2. Read the details.
Select at least three companies who offer the best management contract. Ask each of them to supply detailed quotations and management contract details. To help make your choice, study each of their quotations with care and check the details of their respective contract. The fine details in the documents will potentially influence your decision as to which contract to enter into. Important aspects of the contract should include: guarantees specifying the minimum number of weeks the property can be booked during the contract; schedule and mode of payment; maintenance work; and marketing.
Tip # 3. Does the agency market itself well?
Apart from the details in the contract, you might also want to know the marketing strategy of the agency you are considering, both for their own business and for your property. Check if the agency has a website of its own and see whether its website makes a good impression on you as a potential client. Find out how it advertises its managed properties as well, from which you can get idea on how they are going to handle your property. Does the agency also advertise in major or regional newspapers and magazines or even on national or regional dailies? A well-advertised agency has a better chance of getting clients than those who do not place advertisements on any form of media.
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3 Tips To Choose An Agency To Rent Your Property
