Looking for local vacation rental management companies to oversee your rental property in Southwest Florida?
You’ll want to interview a few local companies before signing a contract! We’ve gathered some tips and specific questions to discuss with each agency. Why interview multiple companies you ask? Because, each company has a different dynamic, different rates, different service levels, and different approaches to vacation rentals.
Assuming you already know to ask about the level of services offered, such as who handles the bookings, the cleaning, the maintenance, the checkin process, etc. here are some other questions you might not have considered.
Tell me about your business?
What you’re looking for is a little background info. How many employees do they have? How many properties do they manage? And, how long have they been servicing Sanibel & Captiva? Don’t mistake long-standing companies as being “better,” it’s all about the level of service provided. So, check out their online customer reviews (like TripAdvisor), and ask them to explain what happened if there is a negative review.
What are your fees?
Many companies take a percentage of the rental income earned, others charge fees, and some charge a combination of both. Be sure you understand every fee that you are responsible for, paying special attention to additional fees for advertising, background checks, and/or cleanings.
What does the fee cover?
It might seem aggressive, but don’t be afraid to ask where your money is going specifically. Understand the portion that goes to advertising, the fees paid out to third-party booking sites, fees for certain taxes or licenses, etc. This is will help you better understand and justify the cost of hiring a vacation rental management company.
What are the booking rate plans for my home?
Know what they plan to charge vacationers per night/week/month. Ask about in-season vs. off-season rates, and holiday rate packages. In addition, they should provide you an estimated gross rental income statement for your property.
Is there a limit on how many days I can stay?
Even if you don’t intend to use your property, you might find that you’d like family or friends to come down and stay. Discuss the process for blocking out time on the calendar, and any restrictions they have on owner usage.
How are “upgrades” to my property handled?
Some companies might require certain technology or offerings for each of their rental properties. Be sure to ask who pays for the tech upgrades that will be needed, for instance, smart TVs, keyless entry, high-speed internet, etc. Also ask the protocol for updating furniture, linens, beach gear, as they get worn out over time.
More Resources on Vacation Rental Management Companies
I hope this gives you some food for thought when interviewing our local vacation rental management companies. To read more articles we’ve written on the topic, click here to visit our vacation landlord hub page.