Managing rental properties is a professional industry and keeping owner’s investment protected, clean and producing revenue is important. As a few Best Practices, honesty, transparency and preventative maintenance are at the heart of keeping owners on your rental program.
Being honest with your owners on the services you provide and the revenue they can expect is at the top of the best practices list.
Educating your owners to truly understand the benefits you bring to the table and setting the expectation level for revenue is incredibly important to ensuring a long and successful relationship.
When communicating your services to an owner be completely transparent about fees for your services. Be up front about what you charge for commission, cleaning, damages and any other services you offer.
Keep up inspections and preventative maintenance of your owner’s unit. The owner has entrusted you with a large investment and the better care the unit has the less time it will spend out of order and available for rentals, meaning you both make more money.