It’s no secret that to keep a business running, the company has to make sure they’re making money. It is not a simple task for vacation rental managers to maintain payment schedules, cancellations, future payments due, deposits, and declined or charged back cards or who wants a refund. A job like this requires constant organization…

When working in a business it is pretty standard practice that customers come first. However, you must always have top of mind that a great company, and amazing customer service, starts with the employees. Many times, businesses do not end up succeeding because they focus solely on sales and making money. Yes, the reason we…

Social media is critical today, but not everyone thinks about Instagram. Instagram is one of the most popular social media platforms out there, with more than 800 million users worldwide and owned by Facebook. Not every business can use Instagram, but vacation rentals are rich with photo and video opportunities (try memes too!). You can…

So now that you’re a property manager, you should have accepted that many responsibilities fall onto your shoulders — many of which you have absolutely no control over! Not only are you handling the property owners’ needs, but the guests and your staff as well, not to mention the physical aspects of caring for the…

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….