Is your investment property in Indian Harbour Beach sitting vacant, collecting dust, and doing nothing to add money to your accounts? If you want to generate more cash without stress, rent it out! You can maximize the property's earning potential by hiring a short-term rental management company.
With help, you can put more cash into your pocket without worrying about attracting tenants, cleaning, or other time-consuming tasks.
Not sure if hiring a management company is worthwhile? Read on to discover the benefits today!
Attract Reliable Renters
If you don't have a marketing strategy in place, your rental property will remain vacant. Unfortunately, rental vacancy rates in the US have increased to over 6%. If you're struggling to attract guests, hire a rental management company.
An experienced property manager will develop a marketing strategy with your ideal renters in mind. For example, they can hire a professional photographer. Eye-catching photos, virtual tours, and video footage will help your listing stand out online.
Even adjusting the description can make your rental property more desirable.
Your property manager will screen applicants to help you find reliable renters. They can review the applicant's rental history to confirm they're trustworthy. If they've damaged properties in the past, you won't want them in your rental.
Running a background check and credit report will confirm that the applicant can pay rent on time. Your property manager can use state-of-the-art technology to simplify payments. If the renter doesn't pay on time, you can automate late fees.
Increased Earning Potential
As a real estate investor, you'll want to maximize your return on investment. Renting out a vacation property can become lucrative if you have help. A short-term rental will bring in more cash than a long-term rental if you avoid vacancies.
You can work with your property manager to discover tax deductions. There are deductions for:
- Cleaning and maintenance
- Insurance
- Management fees
- Utilities
With enough tax deductions, you can record a loss and save money. There are even tax breaks for short-term rental owners. The best property management company can help you discover the tax laws in Florida that apply.
Enforce Rules
Choosing the wrong renters could prove more costly than leaving the property vacant. For example, some guests may bring their pets with them. Pets can cause damage, leading to expensive repairs.
Your property managers can enforce rules to protect you and your investment property.
Less Wear and Tear
The best property management company will schedule routine maintenance. Maintaining the property can lead to fewer renovation projects.
They'll complete repairs quickly while choosing contractors that offer competitive rates. Trusting an experienced property manager will give you peace of mind and help you save money.
Choose Short-Term Rental Management
Attracting vacationers to your short-term rental property can put more cash into your pocket. You don't have to do it all alone. Instead, work with a property management company.
PMI Brevard can help you stay ahead in this competitive industry. We'll handle everything from bookings to housekeeping while using cutting-edge tools to help you succeed.
Contact us today to boost your earning potential with our management services.
