4 tips to manage your short-term rental from anywhere
Can you manage a successful airbnb business from anywhere? Yes! This a common misconception we hear when people are deciding on their next investment property. You can absolutely run an efficient vacation rental property from anywhere in the world and here's exactly how we do it.
Investing in a property where you live might sound convenient, and it often is-however, it doesn’t always make sense from an investment standpoint. Sometimes investors or those interested in getting into the short term rental game may not live where others would want to vacation. Or you may live in an area where prices are too high and your return on investment would be too low. The good news is-managing a short-term rental property from a distance doesn’t have to be a nightmare.
Here are four tips that you can take action on today so you can efficiently manage your vacation rental property from afar while, most importantly, giving your guests a 5-star experience.
Tip #1 - Find Reliable Cleaners
The most important step we have found in running our short-term rental from afar was finding a trustworthy cleaning team. They will be your eyes and ears for your property! Since you don’t live in the area it is vital that you pick a team that you know will show up, look for damages, account for missing items, and most importantly-clean your property so your guests are always satisfied. Unfortunately, finding this isn’t always easy, so knowing what you are looking for beforehand can be helpful. Giving your cleaners a checklist for each room and showing this to them before you hire them helps prevent from hiring someone that may not be able to meet your expectations. Making sure your cleaners are willing to photograph the property before and after a clean not only helps you see the great job they are doing, but it helps in the reporting of any potential damages. Whether near or far from your property, having photos for liability purposes is always a good idea.
Pro tip: Keep your cleaners happy and build that relationship. If you're looking to continue buying more rental properties, this is an opportunity for your cleaners to scale with you.
Tip #2 - Assemble the Rest of Your Dream Team
When it comes to running your property it’s always best to prepare for a rainy day. Building a team that will be there for you when you run into issues will help minimize stress and maximize revenue so you hopefully won’t have to block your reservation schedule if there is a problem. Building a good team typically involves a handyman, plumber, pest control and even a pool cleaning service if your property has one. Having these set into place allows for a quick call if your cleaning team or guest notices an issue.
Pro tip: Always have a backup plan. Keep a list of reliable resources to fill in if your first option isn't available.
Tip #3 - Automate, Automate, Automate!
Whether your short term rental is in your backyard, or across the country, automation is key! As you grow your real estate portfolio it is vital that you have your systems in place so you know your guests will always have the information they need when they need it. The first place to start is to implement a property management system. This will make your life easier when it comes to handling day-to-day tasks for your short-term rental. With this in place, you can automate messages to your guests discussing check in processes, property rules, and all of the need-to-know basics for your guests. We personally love having a property guide that is automatically sent to guests when a reservation is made. This will also help keep you and your cleaners on the same page when it comes to guest turnover. Here are a few examples of software that specializes in short-term rental management:
Guesty (this is what we use at Relaxed Stays)
Hostfully
Hostaway
Lodgify
Pro tip: Implement dynamic pricing with a tool like PriceLabs that will monitor demand in the area and automate your daily rates on Airbnb and VRBO.
Tip #4 - Hands Free Security is Key
So we’ve got the cleaners and rest of the team squared away, as well as your property management system in place. Now, how do the guests get in if you aren’t there? Installing smart locks for your short-term rental is a game changer! Most brands are able to link right to an app on your cell phone as well as any property management platform you might be using. Linking your smart locks to your property management system allows you to automate codes for your guests, and if linked properly will only work during the appropriate check-in/check-out window. Here's what we use at our properties:
Front Door Lock: Yale Assure Lock (AUGUST or ZWAVE)
Front Door Security Camera: Ring Video Doorbell
Pro tip: Keep a lockbox available with a spare key just in case. Examples: ORIA Key Storage Lockbox, Igloohome Keybox
Self-manage Your Airbnb Effectively
The key to running an efficient short-term rental business from afar is knowing that, without having to think about it daily, your guests are feeling like they are taken care of! This goes over all of the need-to-know basics when managing your vacation rental property from anywhere:
Find reliable, trustworthy cleaners
Build the rest of your team (handyman, plumber, pest control, pool cleaning service)
Implement a short-term rental property management system (PMS)
Install smart locks and integrate with your PMS
If you have any questions or want to learn more on how to run an efficient and profitable airbnb property, please leave a comment, email us at info@YourRelaxedStay.com, or book a call below.
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