How can I monetize my vacation property without a headache?
Many homeowners would like to turn their low-use property into a profitable asset or a way to earn income to defray costs. The most flexible way to do this is to make them available on platforms specialized in vacation rentals, such as Airbnb, Vrbo, Booking, among others.
However, the decision to manage your property in this type of rental implies planning and a high volume of work, which can consume time and energy from the host who seeks profitability above the traditional annual rent.
What most new hosts don't know is that it is indeed possible to earn money from your property without having a headache. The name of the type of company that can help you with this is a “vacation rental agency”.
Do not know what it is? Continue reading this text to learn more.
But first, let's get to know who the season host is and what he does.
Who is the season host?
It's every homeowner who makes their second home available - be it on the beach, in the countryside, in the mountains or in a studio - for rent during the season.
In addition to preparing descriptions, adding photos and uploading the property's advertisement on specialized platforms, the host also has certain fundamental tasks so that there are no problems with the reservation.
Duties of a host:
A host has a kind of code of conduct that he must follow so that the guest's stay is cozy and peaceful. In this sense, their duties are similar, for example, to those of a host at a party:
- Inform the date and time of check-in and check-out;
- Be present at agreed times, for guest reception and key delivery;
- Monitor whether the stay is being profitable;
- Keep the house clean, organized and with a decoration that makes the environment pleasant;
- Say goodbye to guests in a friendly way and get the keys back at check-out;
- Cleaning and inspection after guests leave;
Not to mention that there is a lot of work that you will have to do before booking and after your stay:
Pre-booking: quote request, booking confirmation, booking reminder, check-in information, property manual with instructions and local tips, message at check-in.
After the stay: thank you message, offer options for the next reservation, feedback evaluation.
A lot of work, isn't it? No doubt. And, in addition, many people are not prepared to deal with demanding guests or simply do not have the time to manage a property.
Knowing this, vacation rental agencies, such as Meu Anfitrião, do all this work for you and also optimize the earning potential of your property by delivering professional management.
Interested? Learn more about vacation rental agencies:
A vacation rental agency is not a real estate agency. The focus is on a specific customer profile: guests traveling during the season.
How to choose a good vacation rental agency?
For the right choice, consider factors such as:
Experience: That is, how long the company has been in the market. Also, don't forget to check the number of properties in your portfolio, the number of reservations already made and the comments from guests who have already visited the houses.
Team: Try to find out if the agency has a dedicated team that will take care of all the details: creating the ad and its promotion and the operational part, that is, coordination of reservations and maintenance.
Platforms they work on: Find out on which specialized platforms the agency will make your property available. Remember: quantity is not quality! Give preference to those that manage your ad on the main platforms, such as Airbnb, Booking, Vrbo. Also prioritize agencies that have their own platform, to reduce the cost of fees.
Implementation cost: Opt for agencies that do not charge an implementation fee, such as Meu Anfitrião. Only then will you be sure that they believe in the potential of your property and that they are really willing to work on it.
The previous topic leads us to some other questions:
Financial transparency: Here comes the importance of having access to all data relating to the reservation, through the owner's intranet. With it, you will know how much the guest paid, what commission was deducted and what amount you will receive.
Dynamic Pricing: Know the criteria used to determine the daily price of your property. Also find out if the price is updated, that is, if it accompanies the occurrence of events, such as music festivals, concerts, holidays and commemorative dates.
Available plans: Study the plans that the agency will present to you and understand which plan is ideal for you. Many landlords only need basic management. Meu Anfitrião offers two plan options. Check it out here.
Now that you know what a vacation rental agency is and what it does, you might be wondering:
Why would I need one?
The reasons why you should hire a specialized agency appear, above all, in the personal benefits of not having to worry about the day-to-day booking of your property. Let's imagine the following situations:
You are planning a vacation away from home with your family and want to rent your apartment during this period. With your property entrusted to an agency, you will be able to enjoy your trip and your family, without worrying about unforeseen circumstances and guest management;
You are someone who travels a lot for business and would like to monetize your home while you are out of town. Having a season agency take care of everything, you can focus all your energies on the important meetings;
You have a second home that only generates expenses, and this is the opportunity to monetize and reduce maintenance costs. By offering it for rent, the need for maintenance would naturally increase. By hiring an agency, you don't have to worry about looking for providers to support you in this logistics, as the agency already has reliable contacts for such services;
You bought a studio with the sole purpose of turning it into business real estate. With an agency, your only job will be to pay the property's fixed bills.
Count on us to achieve your personal and financial goals!
We live in a time when it has become easy to seek help for any type of activity we intend to perform. And, good news, Meu Anfitrião specializes in property management through Airbnb, Booking.com, TripAdvisor, Alugue Temporada, Hoteis.com, among more than 40 other platforms!
Meu Anfitrião allows you to enjoy all the benefits of being a host, without the stress and hassle of being involved in the day-to-day management and operation of your vacation home.
Contact us to learn more about our plans.
Meu Anfitrião, your home in good hands!