How to Choose the Best Property Manager for Your Short-Term Rental Property

New to Airbnb? Been doing this for a while, but wondering if you should switch Property Management Companies?

Here on the Emerald Coast in Florida's Panhandle, Short Term Rentals are big business. There are dozens, if not hundreds, of Property Managers to choose from. Your choice of Property Management Company can be the difference between a successful, profitable investment property and a regret-fueled headache.

A good property manager has excellent customer service, both for the owners and their guests. They employ diligent cleaning and maintenance crews, and they are quick to foresee, notice, or react to the inevitable issues that arise. In short, they know how to earn a 5 star review from reasonable guests. 

So where do you start in selecting a Property Manager for your beach investment? 

1) Narrow it down to a few choices. Ask your trusted Real Estate Agent (like the experts on the Endsley Team at Gulf Realty 30A) who they recommend. We'll supply you with a short list of options to see who might be the best fit for your property.

If you aren't currently working with us, feel free to send us a message and we'll give you some recommendations. 

Is your rental located somewhere other than the Destin to Panama City Beach area of Florida? Hop onto VRBO and Airbnb and look for superhosts who host 5 star properties in your area. Oftentimes these will be hosted by professional property managers, not individuals. Reach out to them. 

2) Ask the right questions. Here is a list of possible questions to ask Property Managers to see if they'll help lead you to Short-Term Rental Success:

• Would you please send any informational materials you have about the terms, pricing, and services you offer, including an example copy of your contract?
• What is your management fee, and what does it cover?
• Do you provide the door lock, linens, and/or thermostat for the property? 
• What websites will you put the listing on? VRBO and Airbnb?
• If you don’t use VRBO or Airbnb, can I list it on those sites myself? 
• Will this property be promoted on any social media channels?
• Do you allow the owners to have input on the amount charged?
• Do you adjust the prices up and down based on the market and demand? (This is called dynamic pricing)
• Can I provide a welcome gift? (ie water, cookies, etc) 
• Do you include a professional photographer for the listing photos?
• Do you charge the owners for weeks their friends and family make use of the property?
• How do owners go about reserving weeks for their personal use?
• Do you meet the guests in person at check-in?
• Who does the property inspection after a guest checks out to look for burned out bulbs, stained furniture, or other maintenance issues?
• How often does management spot-check the cleaning crews' work? 
• How much do you charge for routine maintenance (i.e. replacing hvac filters), and what is included?
• How do you handle as needed maintenance like a clogged drain, internet not working, a/c is broken, etc? (Many Property Managers will automatically fix issues up to a certain dollar amount like $200 and invoice you for the work. Any issues above that amount will require your approval before fixing.)
• What is the charge for after-hours emergency maintenance? 
• How often do you disburse funds to the owners, and are payments made electronically or via paper check?
• How do you screen guests to be sure they are abiding by minimum age requirements, maximum occupancy rules, etc?

3) Read the reviews on the properties they currently manage. This is an important one. Look specifically for mentions of things like "Very responsive", "took care of the issue quickly", and "Home was spotless". 

4) Check resources like Yelp, Google, and the Better Business Bureau to read reviews of the Company. You can also ask the Company for a list of references if you'd like to speak to other owners on their program. 

A well-run, professional Property Management Company can be one of your greatest allies in your short-term rental investment journey. Take your time to explore your options, ask the right questions, and double-check the company's reputation. You'll be giving yourself -and your investment- the best chance at succeeding! 

Happy investing friends!

- Julie