I Bought a Short-Term Rental: How Do I Manage It?

By Spencer Whitehead, Realtor, Red Rock Real Estate

You have just closed on your first short-term rental property, and you can’t wait to vacation there yourself. Suddenly, you realize that there is a guest scheduled to arrive within a few days with another guest following close on their heels. You have no idea how you are going to find the time to clean and prepare the space for the second guest, and to add to your worries, your phone keeps ringing with potential renters asking questions before they book.

As a short-term rental owner, you will be tempted to manage the property yourself to increase your net income. What many people don’t realize is that self-management is very time intensive. Scheduling cleaners, providing maintenance, checking to make sure nothing is stolen or damaged, answering phone calls, returning messages, and advertising are just a few of the demands on a property owner. I once saw a quote on a shirt that read “Why buy it when you can DIY it for 3X the time and money?” This has never been more true than in the self-management of a short-term rental.

What you need is a good property manager who will take care of the day-to-day operation of your short-term-rental property. They will answer the midnight call about the broken water heater, manage the scheduling calendar, and maximize the rental and occupancy rates, leaving you with more time to enjoy your life. So, what exactly does a property manager provide?

Marketing and Advertising.

A property management company handles all the marketing and advertising efforts for your property. They use their resources and network to reach a wider audience and attract more guests to your property.

Booking and Reservation Management.

Property management companies handle the reservations, confirmations, and payment processing for you, reducing the stress of managing these tasks.

Cleaning and Maintenance.

Property management companies arrange for cleaning and maintenance services, ensuring your property is always in top condition for guests. This includes everything from regular cleaning to emergency repairs.

Guest Services.

Did you know the average guest reaches out three to five times between scheduling their reservation and checking out? Property management companies provide guest services, such as check-in and check-out, and 24/7 support for guests. This helps ensure a smooth and enjoyable experience for guests, which leads to positive reviews and repeat business.

Legal Compliance.

Property management companies ensure that your property is in compliance with all relevant local, state, and federal laws and regulations. This includes zoning laws, fire safety regulations, and taxes.

Increased revenue.

By taking care of all the day-to-day tasks and responsibilities and leveraging their advertising network, a property management company helps maximize your revenue beyond what you could do on your own. Ultimately, the sign of a good property manager is money coming into your bank account each month without a single thought of what you need to do for your property.

For more information on the short-term rental market in southern Utah, contact Spencer Whitehead at 435-237-0301 or at spencer@whiteheadrealty.com.

About the Author

Spencer Whitehead, Realtor, Red Rock Real Estate

Spencer grew up in southern Utah and is still awed by the natural beauty of the area. One of his favorite places is the top of Gooseberry Mesa, just outside of Hurricane, Utah. He enjoys spending time outdoors with his wife and daughters. He is a realtor for Red Rock Real Estate and a member of the Whitehead Realty Team.

JESSICA ELGIN REALTOR®