It's time to plan your next vacation rental and you're looking at various rooms and even homes and cabins online. There are quite a few choices from private individuals but there's also those managed by property management companies like Total Concept. What's the difference?
Everyone is likely familiar with services like AirBnB where you can rent a room or even a whole home, but there can be some downsides that a property management service already has covered. Here are a few items of concern that a properly managed rental has already taken care of for you.
The owner of the property is serious about their rental business.
The fact that a property owner hired a firm speaks volumes about how serious they are about their property. The management company does take a percentage of the rental for their services. Anyone who sees the value in this appreciates your business and is looking to provide their renters with a premium experience.
Things work. When they don’t they are fixed.
A professional property management company has a plumber on speed dial when the toilet breaks, or if anything else goes wrong. Their job is to be there 24/7 to take care of anything that might go wrong. A private individual likely does not have the same connections nor the staff to go out and address any situations that hopefully don’t come up.
The PM company hires or employs a cleaning crew trained to clean all surfaces and leave the place looking like you are the first person to arrive. Things like kitchen utensils, sinks, refrigerators, and baths will be clean.
The management firm is constantly inspecting the property for issues that need to be addressed and making the repairs and improvements that the property owner approves. Your arrival is anticipated and all is in order ready for your visit to be an enjoyable experience.
Things to look for in a property management service
Number of years in the business. Even if they are new, how long have the principals been in this field?
Are they real estate agents? Many states, including New Hampshire, require that a full service property management company also have a real estate broker license. If not, they may not be in compliance with their own state laws.
Are they insured? We don’t mean health insurance. Do they have proper liability insurance in force to be in the property management business. A good property management company is also bonded.
Online reviews. Check various reviews to see what people are saying online about the PM company renting your desired property. Any busy company is bound to have a few bad reviews from customers that will never be happy, but what do the majority of the people have to say?
Memberships. What organizations are they a part of? Also check any social media to look at their level of community involvement and what the community may be saying about them. Here at Total Concept, we are active in our local Real Estate Board and actively engaged in real estate activities both on the Rental and Sales fronts. Simply put, we know the area real estate industry.
Use the phone. Email is fine for some communication, but before booking a property, talk with them. If they are professional, they'll likely want to talk with you anyway to make certain you are a good fit for the property they are managing. On-line booking may be convenient, but, here at Total Concept, we want to ensure that both our Guests and Landlords are a good fit for each other. This level of service, and fiduciary, is something that tends to evade today’s on-line booking models. Also, Guests should use this call to interview them and learn more about the rentals they have available. You might learn about something even better than what you are viewing online.