When you own a vacation rental in the Poconos, there’s a ton of profitable potential at your fingertips. However, attempting to manage every detail of your home by yourself can quickly get overwhelming. It can also make you miss out on earnings simply because you don’t have a streamlined approach to business in place. That’s where a Pocono property management team can step in and make all the difference. When you’re ready to make the move to partner with a professional management team, the following are 10 things to look for upfront.
1. Extensive Experience in the Industry
You deserve to work alongside a respectable and reputable property management company, and that begins with aligning with professionals who are extensively experienced in the industry. Be sure to ask your prospective property management company how long they’ve been in the business. A company that’s only been around a few months won’t have the foundations in place that you need to thrive, while a company that’s proven successful over several years will be bringing a lot of insight, strategy, and successful business models to the table.
2. Well-Established Community Connections
A great property management company will understand the value of integrating into the community they serve and the professional industry they work in. Be sure to ask the company you’re considering if they’re part of any professional organizations or local groups specific to the vacation rental industry. If they are, it’s a good sign they’re dedicated to keeping their business a step ahead of the competition, and that they value the opportunity to be involved in local events, efforts, and innovative initiatives.
3. A Stellar Reputation
It might seem too obvious to say that checking a company’s reviews online is essential, but when you’re searching for the right management team, it’s the vital first step in getting a sense of how their business is viewed by others. The property management company you’re considering should be able to provide you with great references as well. Don’t hesitate to reach out to other owners you know who work with the company. Feel free to browse guest reviews of properties they manage as well for a better understanding of their approach to business.
4. A Dedicated Approach to Competitive Pricing
The goal of working with a property management team is to streamline your business. This results in great experiences for guests and increased profit potential on your end year over year. To that end, it’s important to ask a potential property management team upfront about their approach to competitive pricing. The property management team that works for you should be able to clearly outline their strategies for getting your numbers up, and explain how they determine the best pricing models for your home.
5. Insurance, Licensing, and Up to Date on Local Regulations
A legitimate property management company that values integrity will have its insurance firmly in place, licenses up to date, and stay in the know regarding all local vacation rental regulations specific to your area. Don’t be afraid to ask about all of this upfront. A property management team should provide you with proof of all of their certifications upon request.
6. Transparency Around Any and All Associated Management Fees
Contracts are often strictly binding, so before you sign on the dotted line with a property management team, you’ll want to be sure you have a clear and comprehensive understanding of all the fees involved. There shouldn’t be any discrepancies when it comes to finances and your property management team. Everything should be straightforward and transparent, and there should never be any hidden fees. If a company isn’t willing to discuss this from the beginning, it’s a good sign it’s time to look in another direction.
7. Dedication to Helping You Increase Quality Tenant Numbers Year-Round
Your property management team should be fully dedicated to helping you increase your occupancy rates year after year. That means they should also have a great marketing plan in place for your home. Take time to have an in-depth discussion with a potential property management team about how they approach comprehensive marketing strategies. Ask how they handle tenant screening, multi-platform listings, reservation systems, and beyond.
8. Open Communication on All Fronts
Working with a great property management team means partnering with professionals who are committed to keeping lines of communication open at all times for you and your guests alike. Before you sign a contract, make sure you understand what type of communication platform you’ll be using to connect with your team, and what communication offerings they have in place for those who book a stay in your home.
9. A Comprehensive Approach to Maintenance and Cleaning Standards
The integrity of the home you have on the market is important, and equally vital is the safety and well-being of guests who book a stay. To that end, make sure the property management team you partner with has a robust maintenance plan in place. They should focus on not just keeping up with quality home maintenance standards, but implementing superior cleanliness standards. in your home year-round.
10. A Company That Offers World-Class Guest Care
Even the most amazing home on the market won’t attract the number of guests it should if visitors aren’t enjoying a stay that includes world-class customer care standards. When you’re looking for a property management team, make sure they emphasize a dedicated approach to hospitality for your guests that shows up in five-star reviews, return bookings, and great referrals as well.
Reach Out to Pocono Mountain Rentals Today to Learn More
When you’re ready to work with a property management team with the experience in place to help you take your business to the next level of excellence, Pocono Mountain Rentals is here to help. Reach out today to learn more about our comprehensive owner services and how we can help you reach your full potential in this exciting industry.
