All of us see things through our own eyes, and for the most part, it serves us pretty well. That’s why we have opinions, certain beliefs, and all the things that go into making us unique. This works nicely until we want to sell a product or service. Then the ability to see things through someone else’s eyes becomes critical. That is particularly true when renting a vacation home on the Outer Banks and choosing from different Outer Banks rental companies.
Why You Need A Property Management Company
When it comes to property management and Outer Banks rental companies, it’s important for the homeowner to see what a renter wants and needs from their vacation rental. While this is imperative, it’s also time-consuming. An owner needs to also spend the time and energy needed to understand the market. With an Outer Banks property management company, you as the owner don’t have to do that. We take care of that for you- which is why professional property management on the Outer Banks is so critical. Both the property management company and the homeowner want the same thing and have the same goals. We want to rent the home as much as we possibly can so, in the end, everyone is happy!
The Outer Banks market is very competitive. Even with 95% occupancy in the summer, the best-maintained homes will consistently be the first ones rented at the best price. Having a property manager on the Outer Banks allows you to get a customized course of action for your home. Things you need to provide, updates you should consider, and more. That way for you, as the homeowner, will receive more rental income. While the idea of getting suggestions on what to add to your home may have you sweating dollar signs, not all of the suggestions for making your home more attractive cost that much.
Updating Your Home for Renters
Simple things like new artwork, updating bedding, and even new paint throughout the home can give your home a complete update. Creating a theme for your home and referencing interior design styles that are timeless and on-trend can really impact your rental calendar for the better! You can always get interior design ideas from places like Serena & Lily or inspiration from Pinterest. Take a look at your property from the outside. Do both the house and yard look fresh and well-maintained? Curb appeal is the first impression the renter gets. That furniture that’s been in the living room for 10 years? It’s got to go. Guests want to feel like they’re on vacation and staying in a home that has been consistently updated and cared for.
Even having a routine maintenance and carpet cleaning program with your property management firm can be budgeted and helps keep your home looking fresh for guests. Within updates, making sure to have a well-stocked kitchen with all the accessories a guest needs to cook a big dinner and small but significant touches around your home can keep guests coming back year after year. Updates to your home can make an Outer Banks vacation that much more special.
Avoiding Property Management Hiccups
Just like with suggesting physical updates, Resort Realty property managers suggest what to charge for renting a property based on their vast knowledge of the Outer Banks. Not approving the property management’s recommended rental rates leads to discounting or not booking at all. There are real consequences for not following property management recommendations. Loss of revenue, greater marketing costs because of non-repeat renters, and bad reviews online making it even more difficult to rent the home. If at some point, the property owner wants to sell their house, the rental history directly affects the price of the home.
Owning a vacation rental property does take effort, but understanding what needs to be done and why will make the effort a little more rewarding. Homeownership requires a lot of attention and when you serve the public it requires even more special attention. Being considerate and understanding this from both sides of the communication will optimize the relationship.
If these are things you don’t currently do, it may sound overwhelming; which is a tell-tale sign you need a property manager ASAP! Property managers and homeowners are working together and everything they suggest is to only help, not hurt, your rental calendar. This is a partnership and when you succeed, we all do!