It’s no surprise that real estate can be a lucrative market. With everyone looking for rentals to make some more money off it, it would be profitable to have a vacation rental in a vacation spot to really reel in the profits, especially during vacation season. But how do you upkeep and manage a vacation rental that may be cities, or states away? Thats where hiring a professional property management agency can come into play to make managing your rental easier. But how do you find the right property manager for your property? Here are some tips in getting the right Destin property management.
One of the best ways to find a great property manager is by referral from trusted sources. If you know anyone that has a vacation rental in the same town, it may be worth it to contact them to see who their property manager is, and their opinions about them. Another good source for a referral is from the real estate agent that sold you your property to see if they have any good referrals. Be sure to take your referrals to your state’s Real Estate Commission and the Better Business Bureau, and make sure that they are accredited, licensed, and have no outstanding complaints.
Meet With Your Prospective Managers
After you consolidate all of your choices down to just prospective managers, it is important to arrange a meeting with each and every manager to gather a first impression. First impressions are everything in today’s world, because with so many options to choose from, why choose the one with the worse first impression? And if the first impression doesn’t go well, you can also continue to expect the same results. It is important to also see the manager from a prospective tenant’s point of view, as the manager will serve as the point of contact to the tenant.
Get An Idea of How the Manager Will Advertise Your Property
To make profit on the property, you need to have someone who will effectively and efficiently advertise your property. Knowing all their tactics and how they do it will be key in your decision, from how they advertise, where they advertise, and what they advertise. You should know if they are going to place your property’s information online, in the newspaper, or any other media, online with whether or not they will put a sign in the front yard and what the sign will look like, and any other advertising related questions you may have.
Take A Look At All the Paperwork
Make sure you take a look at, fully understand, and evaluate all of the paperwork for both the contract between you and the property manager, and also the property manager to prospective tenants. Make sure that the lease details all what is expected by both the property manager and the tenants that will be staying in the lease.
After you have reviewed everything you need to, you can pick a great property manager, and start raking in some real estate money.