How to Handle Short-Term Rentals and Vacation Rentals

Short-term and vacation rentals can be a challenge to manage since there is little time for building a relationship with the transient tenant. But the rewards come from the additional revenue they can generate since premiums are much higher. Getting good reviews is vital to attracting a stream of good tenants.

Below, we look at some of the key things that landlords should be doing to manage short-term and vacation rentals:

Set The Ground Rules

Being clear about what’s expected from your short-term tenants, as well as what they should expect from you, is vital to a successful short-term rental. Communicate any rules or limitations around your property early on to help set expectations. What, if any, items do you provide when they rent the property? Do you have a noise curfew to avoid upsetting the neighbours?

Target The Right Audience

Setting clear boundaries for your property and targeting appropriately will ensure there are no nasty surprises for you or your short-term tenants. If your property is perfect for a family with young children looking for a quiet break but not so good for a hen-do gathering, then make sure your marketing is clear about that fact. It will mean no nasty surprises for either party.

Communicate, Communicate, Communicate

Communication is critical to ensuring a happy liaison between you and your short-term tenants. Be accessible to their questions both before and after they arrive and provide as much information as possible about your property and the surrounding area that might be of interest – such as local attractions, taxi services and popular restaurants.

Be Ready To Impress

Short-term rentals tend to be vacation trips or corporate lets that last only a few days or weeks. This means the time to impress is limited but impress you must. The quality of service you offer is critical, especially since the popularity of your property – and therefore the success of your short-term lettings – is likely to be based on the reviews you generate. Special touches such as a welcome card, local produce or even a bottle of wine will receive a mention in the reviews you get, while being accessible to answer questions and a professional and engaging approach will also be appreciated.

Plan Your Short-Term Rental Calendar

Many of the above points will rely on you being accessible as a landlord. So, if you are letting short-term properties over the summer or Christmas for example then make sure it doesn’t clash with your own vacation or make contingency plans if it does. Short-term tenants won’t appreciate that you also need a break. Equally, the natural fluxes in demand will mean at some times of the year you will need to put in extra marketing effort to fill voids and maintain a high occupancy rate for your property. If you have done your best in terms of offering great service, however, then you should be able to minimise your property’s downtime since it will be in demand thanks to your amazing reviews.

Keep On Top Of Maintenance

Guests will be quick to pick up on a property that’s looking tired; a bathroom that’s getting mouldy or a temperamental dishwasher – especially if it’s a property they’ve chosen for a vacation. As their landlord, it’s essential to keep on top of maintenance and possible niggles as soon as they emerge rather than have your short-term tenants tell you instead. Whether it’s you or an external company going in to clean and prepare between lettings, ensure you keep an eye out for any signs of wear and tear and act immediately or suffer the wrath of unhappy guests which can damage future rental potential through bad reviews. (We can help with refurbishment if required.)

Decide Whether to Self-Manage Or Use A Short Term Rental Management Firm

There’s no doubt that short-term and vacation rentals are harder work – that’s why there is more money to be made from them. If you decide the above list is too daunting to do yourself, however, you can always outsource the management to us – we have the experience and knowledge to do it on your behalf.

Unlike other letting agents in the area, we do it all. We manage Airbnbs and single lets as well as corporate lets, and specialise in HMOs, property sourcing, property management and property refurbishment. For more information, please see our Landlord Compliance Checklist