Why Should Homeowners Go With a Pro?
The following blog post was partially written by Trisha Howarth and posted on the VRMA blog. The commentary in italics has been added by Erin of Alii Destinations.
It may be tempting to place your home on a “for rent by owner” website and attempt to handle the rental of your home without using a professional agency. While saving on agency fees may be tempting, are the savings really money in the bank?
Time is money. The value of having an agency handle rental for you allows you to focus on the enjoyment of your second home versus the rental and maintenance aspects associated with home ownership. Filtering inquiries, booking reservations, greeting guests, servicing the guests while they are in your home, maintenance calls, trust accounting, tax submissions, and marketing all take a large amount of time. How does the return on the time it takes to do all these items compare with your regular earning potential during these hours or to the value of time spent doing things you love?
**We get all sorts of calls and questions at ALL sorts of hours- what cab or car rental company would you recommend, what time is sunset, do the trees block the view, where can we get a massage, etc. At Alii Destinations we are happy to answer these questions and are often thanked by our guests for being so quick, responsive and knowledgeable. Responding to all these questions quickly is important to ensure a guest has a positive experience but in all honesty it can be very time consuming.
Security of your investment is key. On-site personnel is essential for assuring that your home is in good order and guests have left the home as they found it. What if something does happen during a guests’ stay? Handling collections and legal issues surrounding damage or an event can be difficult especially if the issue isn’t caught in a timely manner. How will you know if your home is secure and maintained without hiring someone to check it for you?
**Depending on the property, we often provide check-in services in which someone is there to meet the guests in person and show them around the property and how to use the amenities. We also have a thorough check out process to ensure no damage has occurred during the guest’s stay.
Exposure through marketing brings awareness and results in bookings. When you list your home with a website provider you become limited to one stream of exposure. A professional agency may list your home of the very website you are considering and pay the associated fees; however, an agency invests money in many forms of advertising including web, print, direct mail and public relations.
**Exposure is key and we have many different marketing streams being utilized to increase bookings for all our properties.
Satisfaction comes in many forms. In the short-term the savings may seem worth it; however, peace of mind is worth something. “For rent by owner” sites taut booking results, but what about your personal experiences with rental guests and the overall experiences of the guests themselves? Taking the worry out of maintaining a home you visit several times a year, the challenges of customer service and all the various components of renting a home is what a professional agency does.
Peace of mind is worth its weight in gold- it really is.
Relationships with other vendors are invaluable. Alii Destinations has strong relationships with many vendors on island- pool service companies, AC repair, appliance repair, landscapers and most importantly our in house licensed construction crew (sister company, Imagine-It Builders). Being able to quickly respond and solve any issues that come up is critical to ensuring a happy guest and most importantly, that your rental home is properly cared for and maintained. These strong relationships have been formed over many years and cannot easily be replicated, especially on Maui where as many know “island time” can be a real curse sometimes.
Before listing your home on a “for rent by owner” site, research rental agency firms and weigh your options. Vacation rental management companies with proven track records can offer a way for homeowners to enjoy their second home instead of manage it.
**We have many happy clients who will gladly provide you with a reference in regards to our services as a successful property management company.
Posted April 29, 2015