33 Questions to Ask a Potential Short Term Rental Property Manager
Owning a short-term rental property can be an excellent source of income, but achieving success relies heavily on finding the right property manager. This expert will handle everything from guest bookings and calendar management to repairs and maintenance, freeing you up to focus on other aspects of your life. With so many property managers available, navigating the selection process can feel overwhelming. Worry not! This guide equips you with 33 crucial questions to ask potential candidates, ensuring you choose a reliable, responsive partner who maximizes your investment's potential.
Guiding Your Questions:
Remember, these questions are a springboard. Tailor them to your specific property and add your own inquiries based on what matters most to you.
Screening and Guest Management:
Guest Screening: How do you verify the identity and background of potential guests? What steps ensure only trustworthy individuals stay at my property?
Pet Policy: Do you allow pets? If so, what specific policies are in place for pet-friendly rentals?
Market Knowledge and Optimization:
Local Market Insights: What amenities and features are most sought-after by renters in my area? Can you identify opportunities to enhance my property's value?
Design Expertise: Do you offer assistance with design and decorating to maximize my rental's appeal?
Experience and Resources:
Track Record: Do you hold "Superhost" or “Guest Favorite” status on Airbnb or similar platforms? How much of the portfolio holds status?
Workload Management: How many listings do you currently manage? Does this number impact the level of attention my property receives?
Logistics and Service:
Laundry Management: How do you handle laundry? Will cleaners utilize on-site washers/dryers, or will they take linens and towels off-site?
Supply Recommendations: Do you have a suggested list of essential items to keep on hand for guests?
Owner Access: Can I easily block my calendar for personal use?
Technology and Tools:
Property Management System (PMS): Do you use a PMS? If so, which one, and how can I familiarize myself with it?
Local Expertise: Are you familiar with and willing to assist in obtaining short-term rental permits?
Vendor and Insurance Considerations:
Vendor Recommendations: Can you recommend reliable local garbage companies, short-term rental insurance providers, or other vendors?
Licensing and Insurance: Are you properly licensed and insured to protect both my and guest interests?
Financial Management and Transparency:
Trust Account Usage: Are revenue payments held in a trust account for secure handling?
Booking Platform: How are bookings handled? What percentage of guests book directly with you?
Pricing and Revenue Optimization:
Pricing Strategy: Do you utilize automated pricing software like Price Labs? If so, how will it impact my property's rental rates?
Maintenance and Upkeep:
Handyman Services: Can you assist with handyman services and routine maintenance to keep my property in top condition?
Consumable Replenishment: Do you restock essential supplies like toiletries and cleaning products?
Value-Added Services:
Additional Offerings: Do you offer value-added services like groceries, private chefs, or massage services? If so, how is revenue shared?
Cleaning Procedures: What cleaning procedures do you follow to ensure my property is well-maintained and guest-ready?
Communication and Reporting:
Communication Frequency: How often will we communicate, and what reports can I expect to receive?
Fee Structure: What are your fees, and what services are included/excluded?
Additional Considerations:
Guest Information: Do guests receive a local guidebook and house manual to enhance their experience?
Cancellation Policy: What is your cancellation policy for guest bookings?
Local Market Insights:
Cleaning Fee Comparison: How do your cleaning fees compare to the market average?
Portfolio Performance: What is the average occupancy rate in your portfolio, indicating your success in the short-term rental market?
Market Tracking: How do you stay informed about local trends and property performance? What information will be included in monthly reports?
Design and Collaboration:
Local Design Trends: What decor styles are most popular with renters in my area?
Contractual Agreement: Is there a formal contract outlining the terms and expectations of our partnership?
Seasonal Fluctuations:
Seasonal Variations: What are the high and low seasons in my local market?
Building a Strong Partnership:
Owner Expectations: What information or actions from me would be most helpful in building a successful working relationship?
By conversing over these insightful questions, you gain valuable insights into a potential property manager's experience, approach, and commitment to excellence. This empowers you to make an informed decision and select a partner who aligns with your unique needs and goals. Remember, a strong and collaborative relationship with your property manager is fundamental to maximizing the success and profitability of your short-term rental venture.
