How to Increase Your Value as a Vacation Rental Manager
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 get those pennies. So, how can you make sure your offer is good enough to get the business? What makes you different will be your forward thinking into the future of your business and how your processes can affect the 3 main areas property owners are looking for — CASH, CARE, and COMMUNICATION.
In this blog, we cover a tactic that will all but guarantee that you deliver a high quality of CARE for your property owners. As the economy has improved and revenue is easier, many owners want to know that their properties are being cared for well. Take the advice of this blog and then add it to your sales pitch as something of value that you add to the relationship with your property owner clients. Explaining your processes and plans during the sales pitch will help ease your new clients into trusting that they are in great hands with you.
CARE – Have a Backup Plan
The secret to the perfect property manager? I wish I knew! However, there are a few ways to at least look more perfect than the rest. Many managers search long enough to find that one contractor or specialist for each role during a turnover. That is a good start, but when things go wrong, the best managers have lined up at least a few backups for each role whether cleaning, maintenance, emergencies, or just answering the phone. That sounds simple, right? You’d be surprised how many managers stop looking for help once they have one good person in each role. Don’t let that be you! If you’re in this business for any length of time you are sure to see many people burn out or just bail on you. Have a backup plan! Often, we make our best hiring decisions when we don’t need someone right away. You can get to know several people, try them on a few things, and make commitments later as you need help. You can also find people who are happy where they currently work full time, but are happy to jump in and help you if things go awry in the future! This tactic is a great way to not only protect yourself from the chance that someone can’t show up to work on a busy day, but also if you’re steadily growing unit count, you have various backups that are tried and trusted and may be ready to step into full time with you when you need them. Make it a habit to spend a portion of your work week making these connections and recruiting for roles throughout your business. The toughest part of scale is getting the right people in place at the right time.
As a vacation rental manager, you have an advantage; you’re learning with us! Your clients will notice. Make sure to manage the home well, keep it in shape. execute the cleaning, maintenance and inspections thoroughly while you have control of the property and you’ll have fewer emergencies and complaints — the rest (growth and profitability) will follow along nicely.
Come join us at Vacation Rental University today to see what you can accomplish as a vacation rental manager once you’re properly equipped!