A Beginner’s Guide To Vacation Rental Management
Whether you’re looking to rent out a single room in your own property or you own a number of larger properties that you are looking to market as holiday rentals, vacation rental management is a booming sector at the moment. If you’re new to the industry, however, you may feel a bit overwhelmed with all that it entails. So in this blog, we’ll give you some hints and tips to help make your experience in vacation property management an easier one.
Vacation Rental Management Pros and Cons
As with any new business venture there are a number of things to be aware of before you dive in headfirst. Holiday rental management offers many distinct advantages to other rental options but there are also some drawbacks that you should first consider.
The positive side of vacation rental management:
- It’s a recurring income stream that can be particularly lucrative during peak season when you may be booked solidly for several months.
- You can rent to multiple different people throughout the year.
- You have the flexibility to decide when you make the rooms or properties available.
- You will likely see less wear and tear on your property than if you offered it as a long term rental so your maintenance costs may be a little lower.
The downside of vacation rental management:
- You may have lean periods where your room or property remains vacant.
- You WILL get the odd nightmare guest who is very hard to please but they will be few and far between!
- You have to ensure that your property is well maintained and presents well to maximise guest satisfaction, re-bookings and positive reviews.
- You will need to ensure you comply with legislation and safety regulations including obtaining the relevant licence from your local council to operate your vacation rental.
- The vacation rental management space is highly competitive so you’ll have to get smart with your marketing or secure the marketing services of property management experts.
There are LOTS of things to juggle from managing your property’s availability, keeping it looking good, responding to guest queries, managing customer expectations and delivering an all-round great service.
Fortunately, there are systems and software that can make vacation rental management a breeze. Investing in a cost-effective, industry-leading property management system will lighten the load in so many ways. From managing direct bookings with an online booking system to marketing your property effectively with a beautifully designed website created by people who know the industry and what sells, to a channel manager that helps you manage where your holiday rental is listed, you need to know what to look for in vacation property management software.
At HiRUM we have been supporting businesses like yours for over 20 years. We’re the property management software experts that businesses large and small turn to for support. Our software integrates with leading industry partners such as AirBnb and we can support you to get your vacation rental management business up and running with ease.
Whether you rent out a single room, a couple of holiday homes, run a bed and breakfast or maybe a caravan park, HiRUM’s vacation property management software has been designed to accommodate property managers just like you. Let us help you simplify your business. Give the team a call now on 07 5574 4990 for a free demonstration of our software.
Interested in booking a demo of HiRUM PMS? Complete the form below and one of our friendly staff will contact you shortly.
Other articles of interest:
3 Essential Tools To Transform Your Vacation Rental Management Business
The Top 3 Features To Look For In Vacation Property Management Software
Property Management Software For Small Business: 3 Things To Look For
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