So, what’s the big deal with residential management companies, anyway? Can’t you just do everything they do yourself? What’s their secret? The truth is, there are so many things they can do that you either can’t do yourself, don’t have time to do, lack the resources to do, or don’t have the expertise to do effectively. Let’s take a look at the three secrets residential management companies know that you don’t:
Secret #1: Advertising Is More Than Craigslist
In the old days, if you had a rental property you wanted to get tenants for, you would just put an ad in the paper or throw a quick ad on Craigslist and wait for the calls or emails. Now, with so many ways to attract renters, both short-term, long-term, and vacation, you need to know what you’re doing and where to find your demographic.
A good residential management company knows the most effective ways to advertise your property, the best platforms for promotion, and the marketing tricks to make sure you get the high-end tenants you want so you can reap the rewards of your rental property.
Secret #2: It’s All about the VIP Treatment
When you have a rental property in a unique and highly desirable location like the Vail Valley, you have to cater to the clientele you are going to attract. VIP treatment makes the difference between a high-end customer renting your property or going elsewhere. Anyone can go to a hotel and get that, but being able to get the kind of extras that make a vacation or long-term stay really special while staying in a private home allows you to charge more and get great reviews, as well as ensure return customers.
Some of the things you can expect to get from residential management companies that you can’t necessarily provide yourself include:
● Cleaning and housekeeping before, during and after rental
● Property upkeep including landscaping, lawn care and snow removal
● Pet care management
● Concierge services including dinner reservations, excursion arrangement and recommendations for local attractions, shopping and events
Secret #3: Don’t Forget the Administrative Side of Things
Wanting to use your property in Vail as a rental property is a great idea. However, you need to consider the administration of such an endeavor? And we’re not even talking about the advertising and marketing side of things. To successfully and safely rent out your personal property to strangers, you need an effective applicant vetting process, the right contracts and leases, and legal recourse in case of damage to your property or failure to pay. This is one of the biggest secrets residential management companies know that you don’t: how to juggle the paperwork.
To find out what else one of the best residential management companies can do for you, contact Fireside Properties today.