So, you have Florida vacation rental property that you’re considering using to generate income, and the lucrative short term rental market is the direction you want to go. But have you given much thought into what it takes to manage a short term vacation rental? I mean, REALLY given it thought? It takes more effort than the very passive income of a residential rental, but the bottom line can be much, much higher.
It’s important to be aware that you’ll be responsible for maintaining the property to the high standards required by your guests, platforms like AirBnB, and your Florida local and state government. This includes housekeeping, general maintenance, HVAC maintenance, pool maintenance, landscaping, etc. This can be quite a large undertaking if you’re doing it yourself, and paired with a full time career, it can totally deplete your free time.
This leaves you with three real options. Do it all yourself, which can be daunting. You can hire a co-host like a family member or neighbor. But can you truly depend on them to be available and accurate on a consistent basis? And your third option is to hire a professional management company for your vacation rental. This option may cost a small fee, but it brings you closer to a passive income and that peace of mind is worth its weight in gold.
A professional Florida rental property management company can take care of it all for you. From reservation management to compliance to housekeeping and property maintenance, they do it all. You can relax and take comfort in knowing your Tampa Bay area property is in good hands. No more having to clean messes. No more having to make beds and clean toilets. No more late night phone calls asking how to turn on the TV. And since we’re local to the Tampa Bay area, we’ll even meet the plumber so you don’t have to!
Partnering up with a professional management company for your rental property also adds another valuable resource: marketing. Not only giving your property a wider reach to prospective guests, but a professional management company will have analytics on market trends to most accurately price your rental for the ever changing Tampa Bay vacation rental market. Again, this can be an invaluable asset to maximize the return on your investment.