If you’re reading this, chances are you are a Summit County homeowner. You own a home in an extremely popular resort destination with a big earning potential in the vacation rental market. The vacation rental industry in Breckenridge is huge and there are hundreds of companies in the county who offer their services to help homeowners who are new to the rental venture and/or need help with daily operations. Choosing the right provider can be overwhelming. We are here to help by offering tips for choosing the very best property manager for one of your most valuable assets.
This is the first in a 5-part series with tips to help you choose a property manager for your vacation rental property. What we will cover:
Suggested Search Tips
- Mystery shop 3-5 companies: Visit their website. Call their office number and send a direct email with an inquiry about one of their properties. Take note of the type of response you receive (how quick, how friendly, how informative). You should also send inquiries through Vrbo and Airbnb for the same purpose. Responsiveness to phone calls and emails is of utmost importance in the vacation rental industry. Not only are guests most likely to book with the first company to respond, but when an emergency is encountered, time is of the essence for quick action. Furthermore, complaints made by neighbors must be handled within one hour to stay in compliance with town and county ordinances.
- If your Realtor endorses a particular company, ask if they receive a referral fee doing so. Ask about first-hand knowledge about the care the properties receive.
- Read VRBO and Airbnb reviews for any company you are considering.
- If time and money allow, stay a few nights in a home managed by a company you are considering signing with. You will receive first-hand experience of how the guests will be treated, how timely issues are addressed, and you can do a casual inspection of the property to get an idea of how well the home is being cared for and maintained.
- Find out what the employee:home ratio is for any company you are considering. The gold standard is 1:4 (one employee for every four homes). When it comes to the best care for your home and the most attention to listing and pricing details, you want your home to be a big fish in a small pond.
- Interview potential companies and know The Five Most Important Questions to Ask Your Property Manager.