Vacation Rentals Property Management in the Dominican Republic
The beautiful islands and the amazing weather of the Dominican Republic make it a good destination for many holiday goers. Every year thousands of tourists visit the island for vacation. This has greatly contributed to the economy of the island, and homeowners are among the highest gainers.
If you own a house, ayou can easily list it for a short time renting. As long as the apartment is worth renting, you can rest assure that you will constantly have guests. However, managing a vacation rental requires time and skills. That is why many homeowners will prefer to hand the management of their properties to a vacation rental manager or a vacation rental management company.
So, what is vacation rentals property management? What does a property manager do for a vacation rental? And how much do vacation property management companies charge? We will discuss all these and more.
What is vacation rental management?
Vacation rental management involves advertising properties for short-term rentals, renting them out to people on vacation, and overseeing the maintenance of the apartment. It is similar to conventional property management except that the apartment is rented out for just a few days. Hence, there is a need for more promotion to get regular occupants to the home. Also, there will be no need to interview the tenant and little background check as occupants only stay for a short time, and there will be many occupants within a short period.
What does a property manager do
for a vacation rental?
The major duties of a property manager include:
1. Promoting the Vacation Rental Property
A property manager is responsible for listing a vacation apartment for renting. Since there will be a constant need for guests, the short-term rental manager is required to do promotion and marketing of the facility elaborately. The vacation rental property may be listed on many online platforms as many guests usually search online for available rental facilities.
2. Responding to Enquiries
Even though booking is usually online, most people usually call to get information about the cost, available facilities, and availability of an apartment before booking it. The manager will be the one to respond to such inquiries.
3. Maintenance of the Property
A property manager will also supervise the activities in the apartment and ensure it is used solely for what it was rented for. His supervision role also includes supervising the cleaning of the apartment after a guest left and pre-staging for the arrival of the next guest. He will be responsible for the restocking of toiletries and other materials, mowing, and minor repairs. He will respond to calls from guests when they need assistance and ensure the safety of the occupants.
4. Inventory Management
Vacation facilities are usually fully furnished. Therefore, it is essential to keep proper records of all the materials in the home. This should be checked before and after each guest’s stay. The manager keeps this record and updates them as may be required.
5. Collection of Rent
Guests pay to the vacation rental manager, who then pays the owner according to the payment structure the manager and the owner have agreed on.
Now let’s discuss the amount the manager will deduct from the rent before sending the balance to the owner.
How much do vacation rental property
management companies charge?
There are many ways in which a rental property management company can be paid. The most common is the commission model. Using this model, the management company takes a certain percentage of the total income from the rental. This percentage varies between 10% and 50% in the Dominican Republic, depending on many factors.
It is usually high in areas that require high management and more advertisement than in urban areas that are popular and need little further publicity. However, in most parts of the Dominican Republic, you can expect your rental property management company to charge between 15% and 30%.
It is also possible for the management company to agree on a fixed payment structure. This can go either way. The company may offer to pay the owner a certain amount irrespective of the income generated from the rental or request a fixed amount from the owner while the rest of the income goes to the owner.
This amount will depend on the value of the facility and its location. Suppose you decide to pay your management company a fixed amount. In that case, you will be taking the risk of incurring a loss during the period of low patronage. However, it will be your turn to benefit from the arrangement when patronage is high.
Do management companies do Airbnb?
Airbnb is among the most popular platform for short-term rentals. Homeowners may list their properties for Airbnb, but not all of them are effective in hosting Airbnb. Therefore, it may be more effective for a homeowner to hand over your house to a management company to host for you. All vacation rental management companies in the Dominican Republic manage Airbnb and other short-term rental facilities. Hence it won’t be a challenge to find one to manage your home.
So, Can I hire someone to manage my Airbnb?
If you own a house in the Dominican Republic and wish to use it for Airbnb, it may be a good idea. However, you have to critically consider the management. Except you are sure you will make a good host, it will be better to hire a professional to manage your Airbnb. Vacation rental property management companies are specialized in managing short-term rentals. Hence, you can hire one to manage your Airbnb properties.
However, there are important factors to consider before you choose the best management company for your listings. The first factor is the license. Do not give your property to a company that does not hold a valid license to manage rental facilities in the Dominican Republic.
Also, consider the marketing strategy of the company. It is important that you have guests in your Airbnb as many times as possible. Therefore, the company must have many platforms to promote your business. It must also have many other apartments in its portfolio and has a good review from other clients.
The best company to manage your vacation rentals
If you are looking for the best company to manage your vacation rentals properties in the Dominican Republic, we can help you. We help homeowners in Punta Cana to manage their houses by linking them with the best facility management companies. We have good knowledge of vacation rentals as many landlords have already trusted us with their houses.
It doesn’t matter the kind of your property, whether it is an apartment type, or a villa, or even a mini-hotel. As long as it is available for short-term rental, you can talk to us. Our staffs are well experienced, professionals, and friendly. They have good knowledge of property management in Punta Cana. If you hand over your house to us, you can rest assured that it is in a good hand. We will manage your facilities as if they are ours and keep every item in the building safe. Our fees are affordable, and we can assure you of the best promotion of your property. You can contact us today and join our happy customers.
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