Your Rental Home Wants You to Wait Until It’s Ready

Every client we’ve ever had has wanted as little vacancy time for their rental as possible.  Zero days are optimal; every day after zero winds up costing them money in utilities, mortgage payments, and maintenance.  Not wanting to lose any money leads to a mentality of getting the home on the market as soon as possible, regardless of condition and resident situation.

So some clients want us to put their homes on the market prior to them being ready for occupancy.  What I mean by this is that the home has not been completely repaired and there are still personal items in the house.  They (or their current tenants) also are within the process of moving.

The rationale, by itself, is sound.  The greater the length of time the house is on the market, the greater amount of potential tenants that can see it.  If more potential renters see it, the law of large numbers would dictate that someone at some point would love it and want it.

However, does this really work?  I would argue it doesn’t.  Huh?  Why’s that?  Isn’t it common sense?

Simply, the American consumer’s mind works differently now.  There is an inundation of information being flung at them on a constant basis.  Most of it is ignored; however, there are some marketing messages that get through (like a rental listing).  If the consumer takes the time and makes an inquiry to visit the property, there is typically one shot to get them.  Their attention span is limited.

This one shot means that the house has to look perfect.  This visit needs to conclude with the prospective tenant loving the house.  If they see or feel something they don’t like, it will probably turn them off and they will want to find another home.  And there are many other rental houses on the market that look very similar.  The competition is fierce!

 

So why does this matter?  Maybe the diamonds in the rough that aren’t turned off by the home’s uncleanliness will be unearthed and they’ll take it.  It’s certainly possible.  But are renters who don’t care about the condition of the home desirable?  If so, there may be disappointment when move-out time arrives and the home doesn’t look so great.  Clean people typically want clean homes.

The other main reason is that once the marketing of the property begins, momentum is started.  The rental is on the top of all the searches from rental websites, people who are waiting for a rental are told about it by their property managers, and it is fresh.  This is when things typically happen for an average rental home- the first two weeks.  Interested calls, inquiring e-mails, and subsequent showings come quickly.  They need to be harnessed and converted into applications and security deposits.

But when the rental house isn’t up to the task, momentum is stunted.  Interested, potential renters see the property in less than ideal shape and compare it to better kept homes on the market.  The home loses out.  Or the current tenant in the home is packing boxes to move and glares at the renter who is interrupting their evening after work.  The house looks horrible and the vibe is bad.  Potential renters flee to the next home.  Can you blame them?

With rental homes, it’s more about quality time on the market and less about total time.  Make sure the rental home is ready and most inviting when the most people want to look at it!

Rental Home Walk-Throughs: 4 Ways to Protect Yourself

“You know you have a good compromise when both sides are slightly unhappy.” (Many Authors Credited)

As a Charlotte property manager, my least favorite part of the job are the end-of-lease walk-throughs; that is, when the tenant moves out, and we visit the property to check out its condition. If there are damages, we need to decide whether they are “normal wear and tear” (no charge to the tenant) or damages that need to be repaired from the tenant funds. It’s very subjective.

There are three scenarios when it comes to these property manager walk-throughs. The house is left in:

Great condition: The tenant gets their security deposit back and the owner doesn’t have to pay much to get the home in market shape. Everyone is happy. Mediocre Condition: Some of the damage is normal wear and tear, and some of it was caused by too much rough play by the tenant. This is where the greatest conflicts occur between owner and tenant. Poor Condition: The security deposit is basically conceded by the tenant. They know they don’t deserve anything back and hope that there is no future contact concerning the property. The owner is able to use the security deposit to mitigate repair costs.

 

I’m going to focus on the most challenging situation, the home left in “mediocre condition”. This can elicit two different responses from the same walk-through report:

Owner: “You’re killing me! That tenant treated my home like a kid’s tree house and they are only being charged $500 for damages? Add a zero please! They should be put in jail! Did they ever think to cover the food in microwave so it didn’t erupt all inside of it? Did they decide to save money on towels and wipe their hands on the walls? The carpet was new when they moved in! You’re being easy on them! You represent me, remember? Why do you like them so much?”

Tenant: “You’re killing me! I treated that home like my own! I cleaned it daily. We took our shoes off when we were inside (which we shouldn’t have even bothered with, being that the carpet was shoddy-looking when we moved in- I told you this!! Remember??) There might have been a couple things wrong, but I could have fixed them for like $50! $500? Are you crazy?? I thought you liked me! This is highway robbery! You’ll be hearing from my attorney!”

Property managers are really trying to do the right thing, but are stuck in the middle of competing interests. It’s sort of like being friends with both the wife and the husband when they are in the midst of a divorce. You want to be friends with both (like usual), without either of them feeling slighted. Practically-speaking, that can be tough to do!

To make this experience as clean and easy as possible, I’d offer the following four suggestions to landlords:

Trust your instincts- there is no “right” answer and it is usually impossible to make both parties entirely happy Be specific on damages and document repair costs Have a consistent methodology on how costs are assessed Take pictures or use video during the walk-through so tenants can see the damages they are being charged for

Though rental home walk-throughs can’t always be pain-free, there are ways to limit potential fall-out from this necessary part of the property management business.

Budgeting for A Luxury Villa

Let’s face it-when you think of a vacation, you think of white sands, pretty beaches, and catnaps on warm park benches. However, there’s also a bit of a problem-for every good thing, there are several bad things that you need to keep in mind…

First of all, budgeting is one thing that is really hard and rather scary about vacations. After all, you can’t expect to just randomly pop up one day and say “Oh, hey! Let’s go ahead and find a nice, pretty vacation spot with our next paycheck!” You have bills, other commitments, and loads of other things that you need to keep in mind and avoid screwing up in order to go on vacation. But the question is-is going on vacation really as hard as you might think?

You see, it’s really a lot easier to budget for a vacation and renting a luxury villa than you might think. After all, you don’t want to go to a hotel-what’s the fun in that? You get woken up by drunken college kids, weirdoes who have the wrong room, and loud music at two am. The point? You need to be prepared if you want to get ready to go on vacation-especially if you want to rent a luxury villa!

 

 

The main thing that you need to keep in mind is that you need to budget, plan, and make sure that you are prepared.

First of all, you need to see when your budget would best permit it. The way to do this is to look at how much disposable/free income you have. This means that you need to see just how much you can save each week and guess about how much you will have saved in time for your vacation.

Second, you need to see how much money you can potentially save. For example, if you have a shoe addiction, then you may want to cut down on buying them. This will allow you to save more money and also to have a better idea of how much more you can save.

With this in mind, once you have an idea of your budget, you need to see how much it’s going to cost you when you finally get the chance to go on vacation. Ask not only for summer prices but also for prices for the off-season. You may not realize it, but most people will give you a discount if you ask to vacation during the off-season or rent a luxury villa and book it before the summer.

The next thing that you need to do is get a contract. Contracts are important and make sure that you don’t get messed over when it comes time to finally go on vacation. It also ensures that the landowner knows that you’re reputable and if you aren’t-well, you signed!

The point is, you can budget for a luxury villa. Just remember a few last tips:

When renting/saving for a luxury villa, do not give up your stress-relievers. Living a little bit more frugally can be stressful.

Consider going halfsies. It’s a lot cheaper and better for both of you or however other many people you bring with you!

Have fun with your luxury villa!

Advertise a Holiday Home Rental Successfully – Find Out How!

How do I advertise my own holiday home?

As a way to promote a vacation home rental on the internet, you want to discover a site that can continue to work hard to publicize your premises. Most holiday homeowners, that have a home that they don’t really use for a portion of their time, wish to understand just how exactly to advertise their holiday land as a way to bring in cash and pay for their own costs. Whilst the economic downturn continues, holidaymakers have found they will have less money into their own holiday funding and are searching for methods to cut holiday expenses. These would be the exact same men and women who need a holiday home rental and also you want to publicize your holiday property in order that they can find it and reserve directly with you personally.

What if I look for when picking a website in order to advertise my holiday home? Locate a website that charges a set annual fee to promote your premises and will not charge commission whenever you rent your premises. Aid in creating your advertising If you’re a newcomer to internet advertisements does your website enable you to make an ad for the holiday home rental? Many folks believe it is quite frightening to generate proper text to’sell’ the land to prospective tenants.

Additionally, you ought to own as many photographs as you can of one’s property and also to help exude the charm of this town, exquisite surrounding area, etc., as most individuals when confronted with an option of properties that are similar to rent may decide on the one which looks the most useful. Bearing this in mind assess the number of photographs you’ll be permitted in your own advertisement – roughly 20 is just a fantastic ordinary number. Take note some internet sites provide you with 4 afterward bills extra for many others.

advertise holiday home

Make Sure That the website you choose has a great google’ position

We’ve got each used the internet search engine’ Google’ if you would like to check up something or to come across a web site on a certain topic. Whenever you obtain the final results of your hunt people simply consider the very first page – based”fact” – hence it’s essential that the site you pick has got an excellent google’ rank. Which usually means that should somebody typed into a key phrase like’visit to Spain Grove ‘,”’Google’ will search for internet sites that are believed to be more useful and reliable to give information on such key phrase.

In case the web site you decide to publicize your holiday home includes an excellent google’ standing subsequently a website is far more prone to appear on the initial page of results and also many more people will probably look at the website and visit your holiday home lease! Try and locate a site to market your holiday home rentals that’ll’search engine optimize’ your personal advertisement, as opposed to simply the entire site.

This usually means it will be certain there are a number of essential phrases in your own advertisement. All these ought to be placed to match google search calculations’ which subsequently means holiday-makers will arrive in your holiday home advertisement directly without visiting any one of the competitions on the remaining part of the site and potentially book directly away. Apply of’ social media websites’ You may well be fresh to the notion of social websites on the internet however this can be a really excellent method to having the premises’ on the market’.

Internet sites like’Facebook’ and also twitter’ may be rather helpful when you’d like to advertise holiday home leases. Links which you’re able to placed on those web sites might lead right to an own advertisement. 1 web site specifically that frees vacation property rentals by the owner’s guide may actually setup real estate reports together with Facebook’ and also twitter’ and can explain how it operates by sending a’sstep by step how to advertise your premises directly into your holiday-making people’.

That really is indeed beneficial in the event that you’re a little’Technophobe’! There are a number of fantastic holiday land leasing internet sites on the market however one we all know of that provides such support. Nevertheless, it’s well worth assessing what different sites offer for that amount of money to help that you get the cheapest deal on those cash-strapped times!

Holiday Home Property Management – Marketing Tips For Owners Who Are Marketing Their Own Properties

florida

Effective marketing is an integral element of lucrative holiday home property management. Unless the vacation house is achieving good levels of occupancy, the yields on the vacation home won’t be maximized. If you use a letting agent, the agent will handle all marketing and PR for your benefit and you don’t need to be worried about it.

The better vacation home services companies will also occasionally have the ability to assist you with your site and online marketing. However, several holiday homeowners don’t use agency services and prefer to manage their own properties.

Marketing is a specialist area and for that reason, owners are often much less proficient at marketing as they are in other facets of property management. So if You’re an owner who markets your own holiday houses, here are six marketing tips to help you win customers and achieve the highest possible yield from your property investment:

TIP 1: Firstly, work out who your target audience is for the vacation home. Taking into consideration the price band, place, style and design of the house, what sort of individuals are most likely to want to remain there? By way of instance, some holiday homes are great for families with young kids, some are perfect for older people who are interested in being near nature, some are fantastic for young individuals who need to be close to attractions and nightlife.

A clear definition of your target audience is a crucial first step to successful marketing. As soon as you’ve defined your target market, add any accessories and accessories to the vacation home that are the type of thing your target audience will appreciate. By way of instance, a vacation home aimed at young families will be made more appealing by a choice of age-appropriate DVDs, a choice of toys and the supply of items like cots or buggies your customer would prefer to not bring with them.

 

TIP 2: once you’ve chosen the target market for your vacation home, consider all of the ways that you can attract this specific target audience. Which are the magazines and papers your target audience read? If you’re not sure, ask the advertising departments at different books to send you information on their readership. This will help you work out where you should be marketing or looking for some free coverage through PR

TIP 3 Make the most of the internet. The world wide web is used by nearly all prospective clients as their first port of call for study when they’re arranging a holiday. So it is very important your vacation property is presented and it can be on the internet. Whether you have your own site or your market on a site belonging to somebody else, don’t be tempted to cut corners on photography to the web site.

It’s well worth having a professional photographer to ensure that your vacation home looks it’s very best. Constantly use online booking if possible, so that it is as simple as possible for a client to go ahead and reserve once he or she has been fascinated by your vacation home.

TIP 4 Do not miss out on the massive potential profitability of attracting repeat customers. Many people like to come back to the exact same holiday home for several years if they have a fantastic experience first time around. So make it easy for potential repeat customers to opt to return.

Set up an email newsletter so you can keep in contact with them and tempt them with a stream of special offers in addition to news about the local area and perhaps even a webcam. You might also like to think about offering a reduced rate if clients reserve to return next year, whilst they’re still on their first stay. Individuals tend to be sad to leave so it’s a fantastic time to lure customers with the possibility of a return trip.

Many accommodation providers in the tourism sector see around 70% or 80% of customers returning. Taking advantage of the prospect of winning repeat business is a vital tool for successful marketing. TIP 5 Attempt to increase your reservations by thinking laterally about how clients could enjoy the vacation home from the peak season.

Most holiday home property management businesses say that although the peak season achieves full occupancy without too much trouble, the biggest marketing challenge is achieving high occupancy early and late in the season. That is where effective marketing can really come into its own. One tried and tested tip is to make a theme for a rest.

By way of instance, maybe your vacation home is near gardens that look amazing in the early Spring. In that case, this can be made in an effective marketing proposal, pointing out how close your vacation home is to major gardens and possibly even developing a partnership with neighborhood gardens, so you provide entry tickets as part of the rental cost for the week.

If you start thinking laterally about what’s happening in the neighborhood of the vacation home at various times of the year, you’ll find it easy to think of successful marketing strategies for achieving more sales from the peak season. TIP 6 The last tip is to pay close attention to how you are able to stand out from everybody else.

The vacation home market is competitive and it’s crucial to stay 1 step ahead of the rest. It goes without saying that cleaning solutions and key holder services must be organized to the highest standards and your client will expect these to go like clockwork. To stick out in the competition you need to go 1 step further than just providing a simple service. These days, many self-catering vacation homes also provide daily cleaning solutions – bringing a service normally only associated with resorts to the vacation home market.

Is It Worth Renting a Holiday Home?

When booking a vacation, a lot of people will naturally book their accommodation in a hotel, or book a package holiday where their area is included. The alternative is to book a vacation home or apartment, either independently with the owner, by means of a leasing company or hotel, or as part of a package deal. This can often work out more economical both in relation to the rental price and with respect to the amount of money you can spend during your journey.

There are a few methods of reserving your apartment and each has its own benefits and drawbacks. Firstly, it’s possible to reserve an apartment, villa or vacation home within a package deal. As a family, this is often the best, and many cost-effective, way to publication. You can book through a well known, trusted company and a certain standard of accommodation will be ensured. For standard holiday destinations, this is often the best thing to do.

It takes the hassle out of booking and flights often work out cheaper when booked this manner, as can the lodging. The downside comes if you’re trying to go somewhere a bit more unusual, or whenever you’d prefer to not be on a hotel complex. If you would rather prevent said masses, this way isn’t for you. The second means of reserving your apartment is to go directly through the owner.

If you don’t know and trust that the apartment owner, this may be somewhat risky. You do not know if the apartment is kept tidy and clean or whether all conveniences are in working order. Having said that, if you know the owner or you’re inclined to take a risk, booking your vacation home this manner can be an excellent way to save money. Individuals using their own holiday houses regularly will usually care for them well; this implies that their home is very likely to be kept to an outstanding standard.

townhouse-check-point

They will often observe any rental cash they get out of it as a tiny bonus so that they are not likely to overcharge you for using it. The other way you could reserve your accommodation is to do it throughout the hotel where the vacation home is located. If in a hotel, apartments are often maintained by a management firm. This means that a great standard of cleanliness can be anticipated.

The apartment and the hotel will be kept to a very particular standard to be able to satisfy both the owners and any rental customers. Renting through a hotel is somewhat more expensive than renting directly from the owner, but could still work out considerably cheaper than staying at a hotel. Additionally, you’ll have the choice of self-catering. This can save you a lot of money compared to eating at a restaurant daily.

Regardless of the risks, I’d advise thoroughly researching your choices in the location you would like to go to and putting some serious thought into renting a vacation home or apartment as opposed to staying at a hotel. The Holiday Bid Game provides customers the opportunity to win holidays and vacation-related items in the lowest unique bid online auctions. They also offer vacation news and destination tips in addition to information on the best way best to win a holiday.