A property management company must fulfill many roles for each property it oversees. Those who oversee vacation rentals have even more. Most Americans go on at least one vacation a year, and it has been proven to reduce heart attack risk by about 50%. In addition, 52% feel well rested, 49% have better sleep, and 53% are more reconnected with their families following a vacation. It is a property manager’s job to sure that a vacation goes as smoothly as possible for each tenant. Read on for some of their responsibilities.
Sets Rates and Contracts
It is up to a property management company to determine what rates they should set for rent on each of their properties. This is especially important for vacation property management, because rates will change depending on seasons or local events. It is also up to the managers to come up with a contract outlining what is expected of them and each tenant that comes through their property.
Maintenance
Luxury vacation rentals come with a high level of expectation. That expectation is that they will be clean, with all amenities in working order. Property management services include handling all maintenance needed on a property, so that each tenant should have no complaints.
Paperwork
Lastly, property managers must be held responsible for all paperwork for a property. This means ensuring that the property is up to regulations and standards, completing any tax paperwork, and any other overhead services needed to own a property. This falls solely with the person whose name each property comes back to.
Do you think property management companies have a difficult job? Could you work for one? We’d love to hear your thoughts and comments!
