The town of Vail experienced record-high visitation days this year. Tourism in Vail, CO is booming! If you own real estate in Vail, it's time to start renting it out.
With help from a short-term property management company, you can make the most of your investment.
Not sure how to find a reliable short-term property manager? Read on for the tips you need for an effective search today.
1. Know Your Needs
Before you begin researching management companies, outline your hard needs versus wants.
Consider the problems you've faced when renting out your property in the past. For example, perhaps your guests didn't pay on time. Maybe you're not offering them a convenient way to pay.
Perhaps you struggled to find vendors in Vail, CO who can complete maintenance requests in a timely manner.
If you haven't experienced many major issues with your rental property, choose specialized services. If you need help with everything, look for a company that offers comprehensive services. For example:
- Rent collection
- Access to technology
- Tenant screening
- Leasing agreements
- Managing guest requests
- Maintenance/finding vendors
Making a list of your wants versus needs will help you determine which companies to prioritize. You'll have an easier time narrowing down your options. If a company is only capable of helping with one item on your list, keep searching.
2. Check Experience
There are over 296,200 property management companies in the US. Not every company specializes in short-term property management. Some have zero experience handling real estate in Vail.
First, determine how long each company has operated. Consider how many properties they're managing in Vail. Try to find a team that specializes in helping investors in the area.
These companies will have a better understanding of local property needs, laws, and rental procedures. They'll also know how to attract guests to your short-term rental.
If the company is new to the industry, continue your search.
Make sure each company is licensed and insured. Determine if they have credentials that speak to their education or training.
To find the best short-term property management company, read online reviews. Look for companies that have glowing reputations among other real estate investors.
3. Review Services
Look into the services each company offers. Ask for an itemized list of all their capabilities, along with prices for each. Determine if the company will work with you to develop a customized plan.
You shouldn't have to pay for rental management services you don't need.
Before choosing a property management company, compare prices between three options. Don't make the mistake of choosing the cheapest option. Comparing prices will help you recognize the average price of each service.
If any company charges beyond the average, ask why.
Make sure you confirm they offer a guarantee before signing an agreement.
The Best Short-Term Property Management
Finding a short-term property management company in Vail, CO is easier than you might think. Use these tips to narrow down your options. Then, choose a company you can trust with your real estate in Vail.
Need help with your Vail investment?
Contact us today to learn more about our services.