If you’ve been managing your vacation rental property by yourself, you know the amount of work it takes to maintain, clean weekly after the tourists leave, inspect as well as market the property.
The majority of homeowners who invest in vacation rental homes or condos for the first time, decide to manage it by themselves booking it via VRBO or Airbnb. There’s a booking setup cost as well as a commission but it’s worth. It gives you control over your property as well as projecting the cost.
After the first year, most of the homeowners tend to start shopping around for a property management company to take care of their property.
There are a lot of property management companies on the Outer Banks and choosing one over another is not an easy task.
Where to start?
Outer Banks Association of Realtors is a good source. They have a directory of Real Estate Companies on the Outer Banks.
Do you want to choose a big property management company or a small one?
There are advantages and disadvantages to both. Big companies have a bigger budget to market properties. They’ve been in business for many years and they have many repeat guests which will help to book, at least for the summer months.
Big companies will not be able to give you personal attention and there are times that you may not even know what’s going on with your property, especially if you don’t live on the Outer Banks. They may take more commission than the smaller Real Estate companies.
If your vacation rental home is in Hatteras area, you may want to consider a small property management company in Hatteras. Most companies from the North of the Outer Banks don’t want to drive to Hatteras and as a result, your property will not receive the love and care it deserves. Also, Hatteras islanders like the staff at Shore Details are friendly and knowledgeable about the issues in Hatteras.
If you want the personal touch from a small vacation rental property management in Hatteras, make sure you know their marketing strategy, commission as well as bookings for your home.
Let them deal with the complaints from the tenants while you get money deposited directly into your bank account. Now this does feel like an investment, right?
Shore Details is a small property management company that uses VRBO to give homeowners easier access to their weekly rentals. We have a number of repeat rental guests as well as guests who’ve used our concierge services that we target to book the properties for our homeowners. We have a competitive marketing strategy to attract new guests and to make sure those new guests come back to rent with us every year. Another thing that most people don’t admit but it’s true is the gut feeling after you’ve talked to a property manager. If something they say doesn’t feel right, there’s probably something not right. For those particular ones, research more until you are satisfied or talk to another company until you are 100% sure this property management company will be the right fit for you.