What are the Differences between Vacation and Residential Property Management in Lakewood Ranch - Article Banner

Residential Lakewood Ranch property management is something that you’ll need when you’re renting out your property to long-term tenants who sign a lease for a year or longer. Typically, your property manager will handle all leasing, management, and maintenance. They’ll renew lease agreements and respond to repair issues. They’ll hold your tenants accountable and collect rent on time. You hire property managers for your residential rental home to protect its condition and ensure it earns what you expect it to. 

With vacation rental properties, your needs are a bit different. You’re looking for a strong management team that can keep your property occupied, take care of all cleaning and turnover periods between guests, and handle the accounting, payments, and deposits. 

Maybe you’re renting out a long-term residential home or a vacation property or both. Here’s a quick look at the differences in the Lakewood Ranch property management you’ll need. 

Lakewood Ranch Marketing and Leasing

For residential properties, management companies will market to tenants who are looking for a long-term lease in a rental home. They’ll take photos of an empty house, schedule showings, and handle the application and screening process before one tenant is selected and the lease agreement signed. 

Vacation rentals are different. The screening process is much different when you’re welcoming short term tenants versus long term tenants. There’s a different liability standard, and the leverage you have with vacation guests is not nearly the same as the expectations you’re likely to have for residential tenants.

Marketing will need to be aggressive. A good management company will keep up with listings and include photos and descriptions that highlight a well-furnished home with everything a short-term guest will need. Many communities have restrictions that require short term renters to stay for at least a month. They don’t want daily or nightly turnover. This will require a unique contract for that amount of time, payments, and a local management company that understands the special requirements and restrictions in each community.  

Day-to-Day Property Management in Lakewood Ranch 

For residential properties, your property manager will stand by to take care of any issues the tenants might have. You can expect rent to be collected on time, accounting statements to be provided, and routine inspections, renewals, and protection against things like eviction, late payments, and property damage. 

With your vacation rental, the property manager you choose will need to be more hands-on. Guests are likely coming and going every month or so, and you’ll need a management company that can ensure everything is cleaned and prepared between guests. You’ll need to have someone available to help your vacation renters around the clock, in case something unexpected happens or if they need help accessing the property.

Vacation renters are typically upscale consumers, especially in neighborhoods like Lakewood Ranch. They will have high expectations for how the home is furnished, cleaned, and maintained. Your property manager will need to be prepared to meet those standards. 

Maintaining Long Term and Vacation Rental Homes

Preventative MaintenanceMaintaining a vacation home requires frequent inspections and a lot of preventative maintenance. Your property management team should be prepared to respond to any issues that arise during a stay or between guests. 

Both vacation rentals and long-term leases require a qualified team of licensed and insured vendors who can provide outstanding, cost-effective work as soon as you need it. Good property managers will have relationships in place with vendors and contractors so you don’t have to worry about where to find a plumber or a landscaper. 

There are a lot of other differences in how a vacation rental is managed. You’ll need furniture and linens, for example, as well as an understanding about how the laws, rules, and taxes may be different. Whether you’re renting out a vacation home or a long-term residential home, please contact us at Anchor Down Property Management. We’d be happy to help you navigate these Lakewood Ranch property management markets.