How to Know if You Should Hire a Property Management Company
Property owners will need to recognize that while they’re handing off the tasks of managing the actual short-term rental property to an outside party, they remain responsible for managing the property management team they choose. They must still be able and willing to communicate their vision for the rental business and preferences in terms of booking rates, guest rules, decor choices, maintenance and cleanliness standards.
A short- term management company may be the best solution for the following types of investors:
Those who travel frequently
Those who live in another town, city, state or even country than their rental property
Those who would like to sometimes use the property as their own personal residence or vacation spot
Those who have multiple properties and can’t easily manage them all
Those who would rather spend their time finding new properties to invest in or working on another business
On the other hand, hiring a short-term property management company may not be a good idea for:
Investors with only one or two properties who enjoy hospitality and property management and want to avoid paying a third party to perform these task
Those who don’t feel comfortable delegating tasks to an outside party
- Lux Living, Smart Staying -