Buying a Vacation Rental Property on Oahu, Hawaii - Part 4
Ok, now that we've answered some FAQ's,let's return to the topic of using a Property Manager vs. Renting Your Vacation Home By Owner
Using a Property Manager vs. Renting Your Vacation Home by Owner
According to an article written by a community editor at "Community from HomeAway" an online organization that deals with optimizing your vacation rental business, the following points were made: When you are thinking about how you will manage the rental of your vacation home, you have to choose which management style will work best for you.
Using a Property Manager Should you choose to worth with a property manager, you should start by researching management companies online. Analyze the results that come up on the search engines. The main objective for the management company that you choose is: can the company rent your property? Since the Internet is the number one place where vacationers look for properties to rent, you will want a property manager who focuses on building their Internet presence.
To start, look to see where the company comes up in the search results by putting in the name of your town and various search terms. If you see the particular company's name come up again and again, that's certainly a company you want to investigate. In addition to Internet research, talk to other property owners in the area to see if they can recommend a good property manager.
Additionally, you can ask your real estate agent for names of management companies. Agents constantly visit properties so they can see if the management companies are doing a good job of maintaining them. Agents can be an excellent source of referrals.
You will want to find a property manager who can and will handle everything for you. In exchange for their services, they typically charge a commission, which can range from 20 to 50 percent of the rental income.
To be Continued...........
Mahalo For Reading.