Financial management is key to being successful in the vacation rental industry. Read on to learn 3 main things about financial management in the vacation rental industry that are important to know.

Net-rate is becoming a crucial financial component of managing vacation rentals. So, what is this new thing and why do I need it? Well, to start — it isn’t actually a new concept, but for some reason vacation rental managers have forgotten about it or ignored it. Talented, hardworking entrepreneurs in any industry should always…

What Makes up Your Value Proposition in a Crowded Space? The best vacation rental managers are those who are prepared for anything, anytime. Every nook and cranny is observed, and every “t” is crossed and “i” gets dotted. To keep your clients happy, your services must be worth every penny — or someone else will…

One of the key components in any form of real estate is knowing your market. For vacation rentals, knowing which channels are most effective for the homes you manage is the key to success. Bear in mind that certain distribution sources may be “hot” in some areas, while others may not produce. For instance, HomeAway…

How Often Should You Check in with Property Owners? Many property managers tend to only reach out to owners when there is a problem — we use the cover of being “busy” to justify this awful customer service. This is unfortunately a very reactionary business by default, so managers need to take every opportunity they…

The Truth It’s easy to get caught up in multiple to-dos. Your day job may be a 9-5, but your home life is always 24/7! Unfortunately, so is your vacation rental business. If you think your vacation rental property will rent itself out naturally and your cleaners will always do a great job, you’re mistaken….

As property managers, we are frequently presented with difficult situations. Dealing with our clients in a professional yet assertive manner can be especially challenging. One common issue that arises is the concept of restricting owners’ use of their properties. Many can’t help but wonder: to restrict or not to restrict?

Micah Berg knew early on that he wanted to start his own business — and that’s exactly what he did. In 2009, he took over a failing vacation management company and transformed it into one of the leading companies in the industry. Now, The Top 100 Magazine is featuring Micah in its 2018 edition of…

In the vacation rental industry, we often can be quick to offer a full or partial refund to guests when an issue arises, just to stop the pain of the complaint and do whatever it takes to avoid the dreaded negative review. However, refunding guests when there is an issue creates a major profit loss…

What’s the best way to kill your success in the vacation rental business? Bad reviews. Put yourself in the shoes of a traveler for a moment. You go onto your OTA of choice, you look at the properties and find a gorgeous property that fits in your budget and is available for your travel dates….