You just bought a vacation rental property near Disney World in Florida. Whether it’s in Orlando, Kissimmee, Davenport, Clermont or elsewhere you are not sure whether you should hire a local property management company or if you should try to manage your rental home, condo or villa by yourself.
The best answer depends on three important factors:
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Would you like to be a landlord or an investor? It isn’t entirely a black and white choice, you can do parts of both. Property management can be involved though, especially in the demanding short term rental industry. If you’re spending all your time fixing broken toilets and collecting deposits from incoming guests then how will that affect your ability to find and close more investment property deals?
Many wealthy investors choose to spend more time finding new deals than performing the day to day operations involved in running a commercial property. They hire excellent vacation rental property management companies – and not just to give themselves more free time, it also comes down to skills.
Is your property near Kissimmee, Davenport or even Orlando?
Do you live less than 20 minutes away from your vacation rental villa? If you live in Davenport or Kissimmee off the Highway 192 or the Highway 27 then it’s no problem to visit your guests in the morning when there’s a water leak or to show them how to use your home theatre equipment. But if you live a long distance away, or even overseas, you won’t be able to take care of your guests with the same efficiency that a local Davenport property management company can.
You may be tempted to do everything yourself. This is a great way to begin your investing career. If you do it right, you’ll definitely reduce your overheads and generate cash flow by not hiring a professional Florida property management company.
If you are thinking of self-management, do you have the necessary skills? Can you evict guests who’ve stayed past their checking out time? Do you know how to locate and negotiate the best deals with cleaners and maintenance companies? You can definitely learn all this, but if you don’t have the time or inclination to learn you’ll be best served by hiring a business to business property manager.
Property management services may not cost as much as you think – often a good Davenport property manager will save you money in the long run… a great Davenport property manager could even make you money. An experienced local rental management company may have advertising links with travel agents or a large directory of repeat customers to place in your home. This means that they will be able to get more rentals for your holiday villa quickly, and without the expense of advertising you would have on your own. You should also get free placement of your own guests, so any weeks the property manager gets for you is extra income for you - free money in your pocket.
When your guests are arriving a good management company will care for their needs 24 hours a day, whether it’s recommending local attractions, passing on discounts for Disney World tickets or fixing lightbulbs and blocked toilets. Good property managers will pay for themselves in time and money savings. Great property managers will make you more money.
Stoneman Vacation Villas is dedicated to providing the best property management service in Orlando. We take care of multiple villas along the US 27 and US 192, and we are local property owners ourselves so we know the issues that any homeowner is facing.
We offer short term vacation rental property management and marketing services to property owners in the Orlando area. Please contact us with any questions you may have, whether you’re a seasoned property owner looking to get more bookings or even if you’re just thinking about buying Orlando real estate.