So, you’re in search of a vacation rental manager? Whether this is the first vacation home that you want to list as a short-term rental, or you’re looking for a new company to manage your fleet of vacation properties, our guide will help you make an informed, stress-free decision. We’ve compiled all the questions you should ask when wondering how to choose a vacation rental management company. Let’s dive in.
In this guide we’ll answer:
How do other short-term rentals perform in my market?
What are vacation rental management fees & contract terms?
What services are included in my contract?
How do you advertise my home?
How large is your rental portfolio?
How do I know my home will be in good hands?
Why should I partner with a vacation rental management company?
How do other short-term rentals perform in my market?
A great vacation rental manager should be an expert in all aspects of your local market. Be sure to ask them about the other types of vacation rentals in your area and their rates, seasonal trends, and local regulations.
Unlike traditional management companies, which use simple on and off-season pricing, we use our proprietary dynamic pricing model that leverages 75 to 150 pricing “seasons.” These seasons capture and optimize revenue based on occupancy, day of the week, seasonal fluctuations, holidays, and market events.
What are vacation rental management fees & contract terms?
Short-term rental management companies can charge you anything from 12-50% of your rental income. While a lower management fee with higher promised profits sounds great, make sure you know exactly what services are included with your contract so you don’t end up breaking even. If your budget allows it, consider paying above-average management fees in return for services that will wow your guests, boost your ratings, and ultimately drive more revenue.
Also, ask about the terms and conditions of your contract. Can you end your contract early if the company isn’t performing well or isn’t delivering on the promised services? Know your outs and any opportunities for negotiation.
When it comes to contracts, one size doesn’t fit all. That’s why we offer customizable programs that work for you. Our flexible management options let you choose what’s right for you and your home. Select between our Master Lease and Vacation Rental Management agreements:
Master Lease
We pay you a guaranteed monthly rent in exchange for leasing your vacation property to AvantStay. The amount is a fixed, previously agreed-upon monthly rent that you receive regardless of season or how many bookings we make.
Vacation Rental Management
We earn a percentage of the revenue we bring in and pay you a monthly revenue share. The amount varies, depending on the season and guest demand, with a potential for higher profit during high-demand periods.
What services are included in my contract?
Management fees and contracts should help you deliver an exceptional experience for your guests. When vetting vacation rental managers, ask what is and isn’t included in your contract. Services like marketing, interior design, photography, listing and pricing your home, managing reservations, and home maintenancef are all worth investing in to ultimately maximize your revenue. Consider partnering with a full-service company, like AvantStay, that can deliver these services.
How do you advertise my home?
Once your home listing is live, the approach any vacation rental manager takes to advertising and distribution is key to your success and can make the difference between getting plenty of bookings or getting overlooked.
Ask where they plan to advertise your home, how many bookings come from their site, what other listing sites they partner with (known as OTAs or Online Travel Agencies), how they drive positive guest reviews, and other services they provide like photography or search engine marketing. On average, vacation rental companies that manage over 1,000 properties only list on five platforms, so be sure to vet carefully.
With AvantStay, our powerful distribution capabilities are included in your management agreement. 40% of bookings come directly from our site, but we also optimize each listing across more than 60 distribution channels, including Airbnb, VRBO, La Cure, LVH, TripAdvisor, Expedia, Booking.com, and Homes & Villas by Marriott International.
How large is your rental portfolio?
When inquiring about a vacation rental manager’s portfolio, it’s important to gauge two things: does a large portfolio mean they’re successful and maintain good relationships with homeowners, and how do they scale their operations? Ask if they can provide owner testimonials, case studies, or even put you in touch with a current homeowner to see if their management is a good fit for you.
A good vacation rental manager will scale their operations to ensure all properties receive top-notch care. Ask about the ratio of staff to rental properties in your area. At AvantStay, we have one of the lowest homes-to-employee ratios in the industry, meaning for every home in our collection, we have several employees on the ground and at our headquarters that can give you their full attention.
How do I know my home will be in good hands?
Are you worried about noise complaints from your neighbors? Or wonder who will bring guests fresh linens if requested mid-stay? Be sure to ask potential management companies about maintenance, security, and guest and owner support services offered.
To give you peace of mind, we manage inquiries, vet every guest, and take care of their every need during their stay. Our local operations team manages the maintenance, upkeep, and surveillance, while our housekeeping team professionally cleans your home after every stay in adherence with our premium and CDC-grade cleaning standards. In addition, we provide and install home devices such as smart locks, noise sensors, doorbell cameras, and more, compliments of AvantStay.
Why should I partner with a vacation rental management company?
A full-service vacation rental management company should create a stress-free experience for you. Owning a vacation home can be expensive and time-consuming, so we offer the first hands-off approach for short-term rental owners. We use a proprietary tech suite to power bookings, operationalize in-field management, and activate an elevated guest experience. If you have questions, our team of experts is here to help. Unlock your vacation rental’s full value and get started with our team today.