How to Manage Your Vacation Rental Remotely?
By: John Garcia | Date Posted: July 8, 2022
Table of Contents
Vacation rentals provide the opportunity to create passive income, making them an excellent investment opportunity. Yet, they do still require some work.
It’s important for those considering a vacation rental to think about how they’re going to manage the property, especially if they’re located far from the rental.
While remote management is possible, it still may be a good idea to get professional help. Also study passive real estate investing.
Get Professional Assistance
Anyone considering buying a vacation rental may want to think about if you need property management assistance. A property management company can handle many of the regular tasks associated with owning a vacation rental, allowing the owner to relax and enjoy the income with less work.
Choosing the right company to work with is important, and you also need to make sure that they offer the services that you need to ensure that you will be a good match for each other.
Invest in a Security System
How is the property secured when there are no renters? How can the renters feel more secure when they’re at the property? A security system works well in both of these instances and can provide peace of mind to the rental owner and any renters visiting the property.
Vacation rental owners may want to look into how to create a security system or purchase a pre-designed system that’s easy to install and can be used remotely.
The security of your rental property is of utmost importance when you manage it from another state or city. It’s impossible to be there every moment to resolve questions and concerns your tenants might have, and security breaches are simply not an option.
Your tenants will benefit from extra peace of mind and security when you install a security system. In addition to preventing break-ins and vandalism, home security systems can be used to monitor vacant properties.
When it comes to home security, there’s plenty to think about. Modern door locks with digital keys, along with carbon monoxide detectors that alert users digitally, are included in modern systems and are extremely sought-after by property managers as well.
The combination of a smart keyless lock only needs to be changed for new tenants moving in. It also eliminates the hassle of changing keys when a tenant moves out or loses their keys.
You should clearly communicate the expectations of your tenants when adding a security system to the property. It is your responsibility as a landlord to maintain digital security systems and to incur the costs associated with their upkeep.
In order to avoid any confusion or legal repercussions down the road, you should also highlight these items in the lease.
Find Reliable Contractors in the Area
Things will wear down or break over the lifetime of owning the vacation rental. When they do, it’s not always possible for the owner to handle repairs, especially if they do not live nearby.
Instead, it’s a good idea to take the time now to find reliable contractors in the area. If anything does go wrong, there will already be someone to call to fix it. This can help speed up the repair of anything that breaks and keep the vacation rental in great condition.
Look into Housekeeping Services
Cleaning between renters is needed, but not something the owner will likely want to do on their own, especially if they do not live nearby. Instead, take the time to look into finding housekeeping services that can come between renters to reset the property.
Check out what is included in the services available and make sure there is a solution that fits the needs of the rental owner as well as the housekeeping service.
Learn How to Market the Property
How will renters learn about the property? Marketing is crucial for this type of rental, and it’s important to market in just about any location to attract potential renters who plan on visiting the area.
Vacation rental owners will want to learn as much as possible about marketing their property and may want to consider working with a property management company that can help with the marketing tasks. This will help keep the rental booked to bring in as much money as possible.
If you’re thinking of buying a vacation rental property, now is the time to start looking into how to manage it when you live far away. While it is possible to handle some tasks remotely, it’s likely a much better idea to work with a property management company.
They can handle just about everything for you, making it easy to manage the property from afar and to keep it rented so it brings in more money.
Verification of tenants
To manage a rental property out of state, thorough screening is crucial. It involves verifying the income and criminal history of potential tenants to ensure that they meet your standards.
Tenants should be screened to avoid troublesome tenants who can cause legal issues, loss of income, and a negative reputation for the property. Tenant screening involves checking credit scores, criminal backgrounds, rental histories, and income verification.
You should observe fair housing laws as a remote landlord. Almost all tenant screening services are accessible via the Internet and do not need you to communicate with either the tenant or the provider.
To summarize
No matter whether you have a single house or a multi-building apartment complex, owning a rental property in another state is not easy. It is challenging to manage remotely, but don’t take it too seriously.
To be successful, you need to surround yourself with the right people, know the right systems, and use the right tools.
In summary, here’s our advice for managing rental property remotely:
- Make sure your rental property is secure by installing a security system
- The importance of online property marketing cannot be overstated
- It is great to be able to show your home by yourself with smart lock systems
- Screen tenants online using tenant screening tools
- Make use of e-leasing tools when leasing
- A professional local vendor and property management software are the best investments you can make.
Thank you for reading!
