Florida is one of the most popular places for tourists to visit in the United States. Last year, the Sunshine State welcomed over 137 million visitors.
You may be considering turning your property into a vacation rental after hearing those numbers. However, you may be overwhelmed by the thought of managing it yourself.
No worries, you can use a short-term property management service.
What are the advantages of this? Here are five of the biggest benefits.
1. Flexible Location
The biggest advantage of using a service is that you do not have to be physically located in Orlando to own this property. You can have a base in a completely different part of the country such as New York and still make money off of this property.
For snowbirds or people who can't uproot to Orlando, this could be a great option to get the best of both worlds.
2. Passive Income
Going off of the above, using a property management service is an easy way to earn passive income. You have someone handling the needs on the ground while you can sit back and relax in your base.
It takes away your responsibility for daily needs and truly turns this into a passive investment property.
3. Strategic Pricing
As a property owner, you may have no idea how to base your nightly rate. A short-term property management service can put a strategy in place on how to price your nightly rate accordingly.
These companies have experience with this and know what factors to consider. They can do the market research required as well as use dynamic pricing to fill as many dates as possible. All of this should result in you maximizing your profits.
4. Managing Guests
One of the disadvantages of managing a property like this is the large guest turnover. Guests are likely only staying at your property for a few days and you have to get it ready for the next guest quickly.
Well, you can delegate all of that to a property manager. They can handle things like communicating with guests, maids, other vendors, and more.
5. Promoting Your Property
Lastly, a property management company can help you promote your vacation rental on the appropriate platforms. If you are having trouble with your vacancy rate, it is a sign that you need to get the word out to more people.
A good way to draw people in is with professional photos and the right caption. About 83% of people claim photos are very important when choosing a property.
Property managers can help make sure that your property makes the best impression possible to people online.
Get Short-Term Property Management
These are five of the biggest benefits you get when you use a short-term property management company. It is the easiest way to maximize your profits along with delegating certain tasks.
If you need a good resource for this, you should use PMI Property Alliance. We are a real estate asset management company based in Orlando, Florida that is dedicated to taking care of your real estate investment.
Message us here to learn more!
