If you own vacation rental property, you might be surprised to learn that one of the most important steps you can take to turn a profit is to hire a great property rental agent. If you are new to vacation property ownership and are tempted to go it alone, here are a handful of reasons to resist the urge:
1. Maximize your time: If you hire a rental agent to handle the day-to-day tasks associated with managing your income property, you will have more free time left to identify additional investment opportunities. Even if you are just starting out, renting a single vacation property, we’re convinced you will enjoy the passive income and wish to expand.
2. Marketing your property: An experienced rental agent will intuitively know exactly where to advertise your property as well as the method for creating compelling marketing materials. And since empty units don’t bring in income, filling vacancies quickly through effective ad campaigns equals money in your pocket.
3. Setting the rent: Don’t make the rookie mistake of looking to the classifieds to see what other landlords charge for similar properties. Although that may provide a ballpark figure, relying on it will likely leave money on the table or leave your property vacant far longer than necessary. Any agent worth his or her salt will conduct thorough market research before working with you to set a rental price that will provide a win-win for you and prospective tenants.
4. Finding perfect tenants: Why handle the headaches and the details inherent in tenant management? Don’t even let yourself be tempted to approve a tenant with a hard-done-to story, who could potentially bilk you out of timely rent or even eventually result in the need to evict. Experienced rental agents screen tenants for criminal backgrounds and security checks, run credit reports, verify employment and collect previous landlord references, all of which will keep your rental relationships strictly about business.
5. Handling money: Securing payment directly from clients can be difficult or even awkward. In contrast, an efficient billing system ensures timely payments without excuses. This type of collection is particularly important if you own a limited number of properties, or if you’re like most people these days—where cash flow is a concern.
6. Managing tenants: In addition to finding good tenants, a leasing agent will manage all aspects of the tenant-landlord relationship. This is particularly important for vacation rentals, when properties are occupied by so many people. Rental agencies will handle routine and emergency maintenance, which is especially necessary in Lake Arrowhead and the surrounding areas—where small, undetected issues like water leaks can morph into major headaches unless someone is in charge. Hiring a housekeeper is fine for cleaning-related issues. But most maids do not excel at property management, so shouldn’t be left to supervise maintenance on vacation properties.
7. Administer vendor relationships: If you own property, you’ll likely have a steady stream of maintenance workers, tradesmen, contractors, suppliers, and vendors through the doors of your rental. A good rental agent will make sure you get you the best work for the most competitive price, and oversee necessary repairs and improvements.
8. Oversee housing regulations and property laws: Are you aware of every applicable law and regulation associated with renting and maintaining rental property? The list is especially long in California. But wherever your property is located, you must be mindful of local, state and federal regulations, as well as fair housing laws. A rental agent will make sure your investment remains lawsuit and levy-free by making sure everything is in compliance.
9. Live locally so you don’t have to: If you manage your own properties, your investment opportunities are limited to a very specific geographical location. If you hire a rental agent, you won’t be tethered to your rental properties, so you will be able to take advantage of investment deals (and personal vacation days) wherever your heart desires.
10. Maximize your profit: Many rental agents charge a one-time sign-up fee along with a percentage of your property’s monthly rent. The rate runs anywhere from 6-10%, which means that property management pays for itself.
If you own full-time or vacation rental space in Lake Arrowhead or the surrounding areas, consider letting the licensed agents at Arrowhead Property Rental manage your property. If you’re in the market for a great place to vacation in Lake Arrowhead, let us take a crack at turning it into a happy and memorable time. For your convenience, we are open seven days a week and are located in Lake Arrowhead Village on the upper level, overlooking the lake. Our experienced and knowledgeable team will guide you and anticipate your needs, whether you are vacationing or relocating to the area. Call today: (800) 244-5138 for special requests and dates or book online.
No matter where your destination, your vacation will be more enjoyable if you pay attention to what you pack. For instance, if you fail to plan ahead for conditions such as unexpected changes in weather and unforeseen circumstances, you won’t be able to relax. And you’ll end up spending money on sundries such as toiletries, appropriate clothing and/or medications, which will leave less for stuff like snacks and souvenirs.
Here are some helpful suggestions for packing a proper suitcase:
1. Weather Check. Before you even choose your luggage, research the weather at your destination. If rain or snow is in the forecast, get a bag that will allow sufficient space for coats and cold-weather accessories.
2. Make lists. Checklists are great tools to keep you on task.
3. Plan each day in advance. This will help you decide how many pieces of clothing to take. A perfect pack-job will have you using every single item in your suitcase at least once. Challenge yourself not to over-pack. After all; you might be able to do laundry while you’re on vacation.
4. Put heavy, bulky items at the bottom of the case. This will protect delicate items and balance the weight of your bag.
5. Pack several lightweight layers. In fact—you might even consider rolling shirts and pants if you need space and aren’t worried about the weight. If you opt to fold, do so along the garment’s natural seam to keep clothing wrinkle-free.
6. Make the most of the space you have. If space is tight, use forgotten spaces inside your suitcase, like the inside of your shoe. Shoes are the perfect place to stuff socks.
8. Leave room for souvenirs. This is particularly important if your trip involves air travel, where extra baggage typically incurs a hefty fee.
9. Pack fragile items in the center of your case. The more carefully you wrap fragile items, the more likely they are to arrive intact.
10. Keep it clean. Put shoes in a plastic bag. This way, after you wear them, you can put them away without risking damage to any other items.
When you’re planning your next vacation getaway, consider booking a condo or house in beautiful Lake Arrowhead. Let the licensed agents at Arrowhead Property Rental help make your Lake Arrowhead vacation a happy and memorable one. For your convenience, we are open seven days a week and are located in Lake Arrowhead Village on the upper level, overlooking the lake. Our experienced and knowledgeable team will guide you and anticipate your needs, whether you are vacationing or relocating to the area. Call today: (800) 244-5138 for Special Requests and Dates or book online.
This is just a sample of where the blog posts will be. We will include lots of photos and links and will tag it so it will generate SEO.