On Sanibel and Captiva, a number of folks are buying now and renting their property until becoming full-time residence upon retirement. Others are buying for investment purposes, and using the property as their vacation home or part-time residence.
Whatever your motive, you have a few options when it comes to renting your Sanibel Vacation Home. The biggest decision you’ll have to make is whether to use a vacation rental management company or not.
Using a Vacation Rental Management Company
Vacation Rental Management Companies or “VRM’s” are a group of professionals who manage every aspect of renting your vacation home. Services vary slightly between companies, but most of the VRM’s on Sanibel and Captiva Islands handle everything from listing your property, booking your guests, collecting payments, providing customer support and managing maintenance requests and cleaning services.
When selecting your VRM, you should interview a handful of companies to compare their pricing and services. Ask around your neighborhood or complex to see who other people recommend. Don’t forget that your real estate agent is a great resource, as they often have referral programs and experience working with these companies directly.
One article on HomeAway.com suggests verifying the following information before hiring a property manager:
Using a Vacation Rental Management Company is beneficial for home owners who are not in the area to oversee their property themselves. However, using a VRM is not your only option.
Renting By Owner
Instead of relying on a company to manage your Sanibel Vacation Home, you may choose to run your own rental program. With easy-to-use vacation rental websites like HomeAway.com, VRBO.com and VactionRentals.com, owners are able to market their properties, manage their booking and collect payment all on the same platform.
The most common reasons people choose to manage their own rental property is to maintain complete control of the process and to save the commission that VRM’s receive when managing your vacation rental. There are, however, a few challenges for those trying to manage the entire process from a distance.
Hybrid Management Programs
Some VRM’s offer “a la cart” services for owners who need help in certain areas of managing their vacation rental. Talk with a few companies in the area to see what types of packages they offer and if they will develop a personalized management plan to meet your needs. If you choose to partner with a VRM to manage your home, be sure all parties are clear on the roles and expectations, and the guidelines to managing your home are clearly stated within a signed contract.
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