Pros and Cons of hiring a beach house rental property managercommunity
Ever wondered what the pros and cons of hiring a beach house rental property manager are?
Weekend getaways are one of the first things people jump on as summer approaches. This means there is almost always a large demand for beach house rentals making it a good source of income for beach house owners.
Additionally, not only is it a great opportunity to earn income but you can also enjoy the beach house property yourself whenever you need to. Who wouldn’t want a good return on their investment?
However, as with most investment properties, there is always a question of whether it’s worth hiring a property manager to look after your property. Below we have combined a handy list featuring the pros and cons of hiring a beach house rental property manager.
Are beach house rentals a good investment?
There might be a lot of questions when it comes to purchasing a beach house and whether it is worth the investment. First of all, buying a beach house to rent can become a good source of stable income in the long term. Beach house rentals are a good return on investment, a good vacation spot during the off-season as well.
However, owning a beach house and renting it out can come with a lot of challenges. You could either rent the beach house property by yourself or hire an experienced property manager to manage the property for you.
The Pros and Cons of Hiring a Beach House Rental Property Manager
Good Service and Improved Response Time
Most owners of beach houses don’t live in close proximity to their property. This is a major disadvantage when you are managing your own beach house property. The ability to service your guests 24/7, and in case of an emergency, can be difficult if you do not reside locally. Hiring an experienced property manager to rent your property could not only improve response time in case of any emergencies but ensure that the service is impeccable.
A property management service can ensure regular checks are done to your property while also doing proper background checks on the guests wanting to rent it out. The turnaround time between guests exiting the house and new guests arriving can be quicker when managed with an expert team than it would be if it was self-managed.
Experienced property management agencies will have the latest technology, resources, and expertise to reach the largest target market audience for your property and represent your property in the most professional way. A self-managed property is unlikely to have access to, or the budget to, achieve the same results.
Bookings, Marketing, and Promotion
Hiring a property management agency to manage your beach house rental property may seem a little expensive in the short term, but it won’t be long before you see the rewards and realise the good investment. Most property managers have a team working on the bookings, marketing, and promotion of their property listings to get more visibility, reach a greater audience, and respond promptly to guest enquiries, resulting in a better return on investment. This process is time-consuming when done well, so if you have a busy life and are time poor (like most of us) then marketing and promoting your property would be more challenging if it was self-managed.
Increased Property Exposure
A property management company will help spread the word through its own social media and gain more visibility for the property. Every property manager has their own team to handle the listing of properties and the ability to increase its visibility online.
Most rental properties are selected based on the reviews they receive and having a property manager handle your beach house can help with increasing the demand during peak season. The team will ensure the ratings remain high by providing exceptional customer service and ensure the visitors are enjoying their stay to the fullest.
More Challenging to Build Rapport
When guests arrive at a beach house property they often prefer a familiar friendly face to greet them and hand over the keys. This gives the guest a sense of security and also allows the owner to build a rapport with the guests. However, with a property manager, this may not always be the case. After all, property managers might have a tight schedule to visit other properties around the vicinity. In the end, it comes down to selecting an appropriate property management firm that would best suit your beach house needs.
Control Over Guests and Management
Most owners might find it difficult to give full control to a new property manager if they’ve previously managed the property themselves. Hiring the right property firm is very important in order to be able to understand the owner and the potential rental clients.
Maintenance fees and taxes will increase
It’s no secret that owning a beach house is an expensive affair. The taxes are higher due to the high demand for it. There is a high maintenance fee for a beach house as there is more corrosion due to salt from the sea. Frequent repairs to both the interior and exterior of the beachfront house might be needed.
Hiring a beach house rental property manager can be expensive but can surely be the best investment in the long term.
At Coast and Country Getaways, we have one of the best beach house properties all over Victoria. Don’t hesitate to contact us so we can prepare the perfect accommodation for you.Return to Blog