There is no doubt that running a vacation rental house can generate a substantial side income for its owners; however, managing a successful rental is not that fun. A property manager’s job entails an endless list of responsibilities and overwhelming day-to-day tasks. Different roles of a property manager and doing them all can be stressful, plus the requirement of always being within reach to handle any issues that come up during a guest’s stay.
Hopefully, as a vacation rental owner, you have a wide range of services, apps, integrations, companies, and tools to reduce your stress and workload as much as you need. You can outsource some of your duties with different types of services available out there like concierge, cleaning and maintenance services, or leave your whole property management in the professional hands of a vacation rental manager.
Although their duties might differ based on the type of property they manage, and the terms of their contract with the property owner, the roles and responsibilities of a property manager are critical. They are in the centre of your vacation rental operations.
Simply, a property manager’s job is to handle ALL the daily operations of a vacation rental from managing guest enquiries, preparing listing details, reservation processing, cleaning, maintenance and repairs to marketing, pricing, finances, insurance and taxes.
Having a look at a property manager’s leading roles to run a successful vacation home can pretty much help you decide whether you need to hire a vacation rental manager for your property or not.
Listing the Property
Listing your vacation rental property on online booking websites (OTAs) is the first step in a property manager’s job. Every short-term rental need to have their own direct booking website to maximise their profits and take control of their marketing strategies. However, listing rentals on OTAs with well-written descriptions, quality photos, a complete list of amenities and a competitive price can enhance its visibility and guarantee a high occupancy rate.
Pricing and Revenue Management
So much depends on the price in an increasingly competitive seasonal market like hospitality. A vacation rental manager must be familiar with the market and know that fixed rates are of no help in this business. They should be able to set dynamic prices based on the factors like seasonality, day of the week, local special events and holidays demand predictions.
A property manager must also manage the budgeting to cover all the expenses and generate a steady income.
Filling the vacant dates is a vacation rental manager’s core responsibility. A vacant unit can earn no income neither for the manager nor the homeowners. A key role of a property manager is to implement their marketing knowledge and get help from online booking channels to secure bookings and maximise the ROI.
Managing Complaints and Guest Communications
A property manager’s job includes a lot of communications. They must respond to the enquiries of the people who are most likely to book their listing, handle any issues that arise during a current guest’s stay and keep in touch with the past guests to encourage them to return and BOOK DIRECT.
Coordinating the Staff
A vacation rental’s concierge, housekeeping, and maintenance staff will carry out all the operations management. They will take care of the check-ins and check-outs, clean and prepare the house between two rentals and keep the property in its tip-top shape for the next guests. It is the role of a property manager then to assign tasks and coordinate and monitor the staff to ensure everything goes smoothly based on the investors’ expectations.
Property managers must also run house inspections with the help of their cleaning crew to inspect any damages and breakages and tackle the security deposits and vacation rental damages.
Improving Guest Experience and Collecting Reviews
Happy customers not only are willing to come back and tell their friends about their stay at your property but also will be glad to pay more and increase your income. This is the role of a property manager to do everything they can to enhance the guest experience and use different methods to encourage their guests to leave them positive reviews and comments.
Reporting to the Homeowners
Vacation rental managers must try to meet their property investors’ preferences and goals and report to them on a regular basis to keep them in the know of what’s going on in their properties. They must continuously feed their clients with invoices and financial balances to assure them their investment is lucrative and growing.
Managing short-term vacation rentals can make a rewarding side income, yet it involves a lot of work. If you are interested in running a vacation rental home but don’t want a full-time job managing a property, then you can entrust the job with a perfect property manager. The role of a property manager is to carry out the key duties of managing your short-term rental on your behalf and save you countless headaches. The owners of multiple investment properties in various locations take advantage of professional help to their properties.
When looking for a proper vacation rental manager for your property, look out for the following job requirements in your applicants’ resumes and interviews.
- communication skills to work with staff, guests and property owners
- the ability to take control of difficult situations
- be thick-skinned to work under pressure
- problem-solving ability
- decision-making skills
- entrepreneurial spirit
- good with money and pricing
- have sharp marketing skills
- work experience in the industry
- familiar with hospitality technology solutions
It is the role of a property manager or a rental property investor to habitually monitor your property management. You can meet them on a regular basis and go through their reports carefully to ensure they are managing your rental in a way that meets your expectations and bring about the yields you rightfully deserve! .