Around 44% of landlords hire a property manager to oversee and manage their rental units. While it is possible to run your investment portfolio without help, it's much more difficult.
There are a lot of advantages that come when you hire a short-term property management company. Whether you've been managing your vacation property in Greensboro for years by yourself or if you've recently made a property purchase, this guide can help you.
Below, we're going to discuss the benefits of hiring a team to manage your short-term property rental.
1. Fast Response to Market Changes
A short-term property management company will also be ready to change your investment strategy. The market can change quickly and if you aren't proactive, you could lose a lot of profits.
A team will anticipate these changes and shifts. They'll have a plan in place to ensure you don't miss an opportunity. This will allow you to be more competitive in a tough market.
2. Higher Rental Income
One of the reasons so many people work with a property management team is the potential for higher income. An expert will know how to keep your rental occupied.
They'll have more connections within the industry. This gives them an advantage and allows them to reach more people.
As a landlord, working on your own, you may not have access to certain sites. You may not have all the knowledge you need to fill your vacancies faster.
A property manager will know how to capitalize on peak seasons, events, and local attractions. They'll be able to increase your monthly income with ease.
3. Maintenance and Inspections
One of the hardest parts of owning a short-term property is the required maintenance. Your property will need to be inspected after each guest.
Supplies have to be restocked, and the laundry has to be done. This is a lot to do on your own. If you don't live in the same city as your rental property, you'll have to hire help.
Working with a short-term property management team will give you peace. You can work on other parts of your business or focus on your personal life without worrying about the day-to-day tasks. Even if you live near your investment property, you don't want to have to schedule your weeks around other people's vacations.
4. Flexibility
Short-term property management also gives you greater flexibility. You won't have to worry about being available for emergencies.
You can leave town or go to dinner without being available to renters 24/7. A property management team will assist in protecting your property even when you aren't around.
Grow Your Business with Short-Term Property Management
As you can see, there are numerous benefits of short-term property management. You can grow your business and protect your investment when you have a team of professionals backing you.
We know this is a big step and you may have some questions or concerns before you sign a property management contract. PMI Marathon is the number one property management franchise. Our team has helped hundreds of investors and property owners.
We are confident we can do the same for you. Give us a call today to get started.
