Owning vacation rental property can be a really lucrative and somewhat easy way to break into, or even build a business around, investment property. It is, however, so far from being hands-off. Keeping up with vacation property can be a trial for even a veteran property owner, so you might be considering enlisting the help of a seasoned property management team to help you out.
But how much is that going to cost? Is the price tag worth the benefits? Learn the basics of finding a vacation property management team today from the experts at Southwest Mountain Realty!
Understanding Average Vacation Rental Management Fees
If you came hoping for a hard as concrete number, we’re sorry to disappoint! The answer here is that it really depends on a wide range of factors. The price can change quite a lot depending on what kinds of services for which you’re looking to a property manager, the type of vacation rental you own and operate, and even the location of the rental.
If you’re feeling lost, we’ll start with what kinds of services a property manager typically offers:
- Maintenance and upkeep of the property, including cleaning and contracted work
- Bookkeeping and records management
- Advertisement (this can be very broad, ranging to everything from newspaper ads to full-scale media marketing)
- Risk management and assessment
- 24-hour emergency support
In addition to these services, the type of property also plays a big role. Cabins or single homes can often be priced at a much different rate than a condo, for example. If you’re looking for a ballpark estimate, you should generally expect anywhere from 15-35% of rent.
Isn’t That Higher Than Standard Property Management?
It is! Vacation rentals tend to demand a higher price because, as you may already know, there’s a ton of work to be done for vacation properties. They see loads of traffic and their fair share of rough use, and handling the bookkeeping can be far more intensive than a standard property.
Is It Worth It?
This is largely for you to decide, of course. However the general consensus, as well as our honest opinion, is yes. There are a ton of benefits to a professional property manager, not the least of which being that you don’t have to treat every single property like it’s a massive time sink. This gives you the freedom to focus your energy on building your business or simply enjoying your passive income.
Vacation Property Management in Phoenix & Queen Creek, AZ
Are you the owner of vacation property in the Phoenix area? The specialists and seasoned property managers at Southwest Mountain Realty can offer you top-class management services! With our service guarantees, knowledge of the area, and no hidden fee guarantee, you’re sure to get the quality you and your property deserve.
Contact us online or give us a call at 480-237-9979 to find out more!