Buying a Vacation Rental Home on Oahu Hawaii – Part 12

Posted on Wednesday, August 24th, 2011 at 10:39am.

Buying a Vacation Rental Home on Oahu Hawaii – Part 12hawaii statue

How To Choose a Vacation Rental Property Manager (Interview)
This is an edited transcript of Christine Karpinski's How to Rent Vacation Properties by Owner, found online at Community at Home Away.
Host, Christine Karpinski: Today's guest is Steve Trover. He is the CEO of All Star Vacation Homes in Florida. Steve is actually a property manager. I know people are going, "What? Christine is interviewing a property manager?" Yes, I am. I know that renting by owner isn't for everybody, and if you do decide you want to use a property manager, I have got Steve on the line and he is what I would consider one of the really good property managers. So we're going to ask him a whole bunch of questions about what we can do if we are looking for a property manager.

Steve had started in this property management online in 1997. Remember, folks, in 1997 the Internet was not widely used, so this has pushed his web site, All Star Vacation Homes, to be one of the top traffic web sites for vacation rentals through property managers. So it is one of the better web sites, he is very well known and very well respected. He is a member of VRMA, which is the Vacation Rental Managers' Association, and has a whole bunch of other accreditations as a property manager. As I said, he is definitely one of the better, cream?of?the?crop property managers.

Steve, thanks so much for joining.

#Christine: OK, we are going to get right into this. I know a little bit about you. I want to talk about, if I needed to find a property manager, what would I need to look for in a good property manager?

Steve: I think the primary thing is someone that you feel you could trust, and I think that that is going to take a little bit of time. It's going to happen over time, but obviously, in your initial discussions, somebody that you just work well with.

You are looking for a partner, and I think a lot of owners go in looking to be a customer, and I think that in most cases we need to look at the rental client as the customer, and the property manager should be your partner, someone that is there to take care of your property at the level that you would want it to be taken care of, yourself. Kind of somebody that's there when you can't be, and you really have to feel comfortable with that person.

So I think relationship, and just really feeling good about that person or that group of people, if you will, to begin with; but there are a lot of other things, such as, how long has the company been in business, what accreditation does it have, what kind of reputation does it have within the industry, and obviously, what type of marketing and operations do they offer, as well.

Christine:
OK, so I guess you need to feel comfortable with the person; but how do I know, I mean, let's face it, when you feel comfortable with somebody, they're not always going to be the most efficient. What I think I would want is somebody that I could communicate with well. Is it unreasonable to ask your property manager to have communications with me on a regular basis?

Steve: Not at all, and I think that you might do that right in the beginning, by asking some questions both by telephone and by email, and see how they respond and how they communicate even before the contract is signed. Then also, obviously you could ask for them to give you some other owners, to give you an idea of how they work with those other owners, so maybe you can ask some questions from some references for them.

Christine:
Yeah, references, I guess. That would be a really big thing.

Steve: Absolutely and I think most good property management companies are going to easily be able to offer some of those references to you. Make a call to those owners just ask those things that you're concerned about such as communication.

Read the rest of the Interview.

Read Buying a Vacation Rental Home on Oahu Hawaii – Parts 1-11

 


 

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