Columbus, Ohio is a popular vacation destination for tourists who want to learn more about the history of the state's capital. The city is also home to industry conventions and expos, making it a top destination for business travelers.
If you own a second home, apartment, or condo in this area, you have an opportunity to generate a sizeable side income from the rental market.
This means you need a reliable and experienced vacation rental management company to help.
Here are three tips for finding a company that will deliver high ROI percentages.
1. A Full Suite Of Services
The first thing you need to do is assess your needs. Your management company should have services that meet every one of your goals, from listing to property maintenance. Otherwise, you'll generate more expenses through multiple services.
Thus, you should make a short list of property management companies in your city that offer the services you need. Next, visit company websites to learn more about these services. A hallmark of a good management company is detailed service pages.
Contact information should be visible, and property managers should be prompt to new client inquiries. Book appointments with top choices to learn more about their management protocol and rates.
A Dedication to Property Maintenance
Next, prioritize your needs.
One of your biggest priorities should be property maintenance. You'll need a property manager to make daily check-ins on your property when it's vacant to ensure it's in great shape for listings and showings. Check-ins also ensure the health and safety of the property.
Excellent maintenance is crucial when marketing vacation rentals. Your target market is looking for a relaxing experience. If you're marketing to business travelers, they're likely looking for a quiet space with a home office space.
Next, clean up your rental's curb appeal.
This step includes:
- Front yard lawn care
- Tree trimming and removal
- Porch repairs and upgrades
- Exterior paint jobs
- Roofing and siding work
You should also clean up your backyard with professional gardening, deck remodeling, and outdoor lighting. Consider adding a pool if you're marketing to that demographic. You may want to add a granny flat to accommodate even more guests; this means more money!
Tenant Management
The next factor to look for is excellent tenant management. Your vacation rental company should apply rigorous background screening to check for financial reliability, criminal history, and past landlord-tenant relations. This step will save you the cost of property damage, complaints, and late rent.
The application process also works as a filter. Only the best applicants should be contacted.
Once a tenant is approved, your property manager will walk them through the short-term leasing process. Thus, you need a lease contract written by a legal professional. This point speaks to the importance of hiring a company that has its own legal team.
Vacation Rental Management Matters
Don't pay the cost of going it alone. Managing your own vacation rental may lead to missed opportunities and income. Invest in vacation rental management that can ensure consistent income and a high ROI.
PMI Soda City is an expert in short-term rental management. Explore our services or book an appointment to talk to a property manager.
