Mitigating Risks, Maximizing Rewards With Vacation Management - Article Banner

Renting out a vacation property in Bradenton, Anna Maria Island, or any of the surrounding areas is a fantastic way to leverage the area’s beautiful beaches, local recreation, and fantastic real estate market. People flock to this part of Florida from all over the state, and they also come from other parts of the country and even elsewhere in the world. 

Vacation homes along Florida’s Gulf Coast always earn money. 

There are a number of benefits to investing in vacation rental properties, but there are also a lot of risks. How do you know if reliable, responsible people are renting your property? What if there’s damage? What if there’s a vacancy?

What if there’s a hurricane? 

You can enjoy all of the benefits of owning vacation investment homes without any of the risk when you partner with a great vacation management company on Anna Maria Island. When you have an experienced, proactive property management partner working with you to advertise your home, find guests and tenants, and keep the property well-maintained, you can maximize what you earn and reduce what you lose. You can also achieve the peace of mind that’s so necessary when you own a valuable asset such as a vacation home. 

Here is how working with a vacation management company, like ours at Anchor Down Real Estate & Rentals, can help you have a more profitable, less risky rental experience. 

Keeping Vacation Rentals Occupied with Guests 

You can’t make any money on a vacation home that’s vacant. 

Unless you have a lot of time to spend looking for guests and advertising your property on the dozens of vacation websites that are available, you can find yourself falling behind the competition when it comes to attracting and placing vacation guests in your rental home. 

Property managers who specialize in vacation homes, however, know how to reach those potential guests who are looking for their next vacation home. We understand marketing and advertising. We understand the importance of stellar photography and engaging listings. 

Moving from “interested” to “booked” is a journey that requires constant attention. Your vacation management company will understand how to sell your vacation home to the people who are considering where they want to stay. We’ll invest in:

  • Virtual tours
  • Ongoing communication, via email, messages, and phone
  • Updated photographs
  • Testimonials and reviews from former guests

A strategic and robust marketing process will ensure that your vacation property remains occupied all year long, even during traditionally slower seasons. Don’t resign yourself to long vacancies when you’re renting out a short term vacation home. It doesn’t have to be that way. 

Understanding Local Rental Values and Increasing Profits 

How much should you charge per night, per week, and even per month? 

Another great reason to work with a vacation management company. We have experience in the local market. We know why prices will be higher in February than August. We can crunch the numbers and analyze the data so we know exactly how much of a discount we should offer returning guests or long-term visitors. 

Pricing a vacation rental is a lot different than pricing a long-term residence. It’s extremely seasonal and the per-night price could vary dramatically from one day of the week to the next. You need market experience and you need expertise in the market and the industry. The wrong price will chase away potentially great guests and ruin your return on investment (ROI). Don’t make the mistake of pricing your property incorrectly. One way or another, it will cost you money. 

A good property manager will study the competition. We will also gather a lot of data, and we’ll put together a pricing strategy that’s both profitable and competitive. 

Pricing requires a solid understanding of the season, the strength of the local vacation market, and the unique amenities and attributes that your property has. Property managers know that a pool will dramatically increase what you’re able to charge. Proximity to the beach is also an asset. Don’t take guesses when you’re attaching a value to your furnished, short-term vacation rental. Partner with a management company that specializes in vacation investments so you know you’re earning as much as you can without increasing vacancies. 

Guest Relations and Property Management in Anna Maria Island 

The people who come and stay in your property are looking for privacy and space. That’s why they choose to rent a home rather than stay in a hotel. They appreciate the space and privacy that a private rental provides, but they still want the exceptional service that’s often found at hotels. They want recommendations on things to do and places to eat. They want to know who to call if the hot water goes out or if fresh linens are needed. 

Your vacation property managers can provide the type of relationships that those guests want and need. 

We know that this is a relationship business, and we start building the relationship even before your guests come through the front door. We take the time to get to know them; finding out how many people will be staying, what they’re hoping to do, whether they’ve ever been to the area before. We can provide concierge-style services or we can leave them alone to enjoy their stay. We understand the importance of responsive communication and creative problem-solving. 

A vacation management company can be the point of contact for all of your guests, current and incoming. This will ensure you’re making the best possible impression on the people staying in your home, and setting the stage for a potential repeat booking

Whether it’s a light bulb that has burned out, a microwave that isn’t working, or an issue with the locks, your management company is ready to respond 24 hours a day and seven days a week. This takes a lot of pressure off of you, the owner, and ensures a great experience for you and your guests. 

Protecting the Condition and Value of your Vacation Investment 

Lean on your vacation management company when it comes to preparing for hurricane season, scheduling preventive maintenance, keeping up with pest control and landscaping contracts, and overseeing the cleaning of your property between guests. 

A good property manager avoids deferred and unreported maintenance. We’re keeping a close eye on your property, taking a look at anything that might need a repair, replacement, or improvement. Whether we’re talking about furniture, appliances, or amenities, we want to make sure that your property is safe, habitable, and likely to remain in good shape for years to come. 

Tenant damage should be rare. It should be repaired immediately, and any guests who cause problems or break things should be held accountable for the cost that you incurred due to repairing the damage. You can count on your vacation management company to enforce that accountability. 

In Florida, there’s an entire tropical storm season in which we are constantly worried about hurricanes and other severe weather. Your management company will monitor weather problems, make recommendations if it looks like a storm is coming, and rebook vacationers who may have to cancel their plans. 

You shouldn’t worry about how well you can protect your property. Partner with experts who know how to ensure the condition of your property is protected and the value of that home is growing. 

Residents and Risk Management in Vacation Homes 

Fall DownAnything can happen. A guest could fall down stairs at your vacation property. They could overflow the bathtub or break the hot tub. There might be a ball thrown through a window or perhaps a strong storm could knock out the power and send a tree crashing down onto the roof. 

You don’t want to be the one who gets the middle-of-the-night phone call, and you don’t want to be the one who always has to imagine the worst-case-scenarios. Property managers have been taking care of rental properties for a lot longer, and most of us feel like we’ve seen it all. We can see the risks pretty clearly in enough time to make sure they never turn into disasters. We’ll conduct frequent and thorough inspections of your property. We’ll make sure the guests we place aren’t likely to cause damage or disrupt neighbors. 

If there’s a pool at your property, we’ll ensure all appropriate fencing and monitors are installed. We’ll work only with licensed and insured vendors who can be counted on to do good work and stand behind that work. We’ll reduce the risk of lawsuits and claims by keeping your property in compliance with all of the relevant state, local, and federal law. 

You’re safer when you use a vacation management company. You’re leveraging experience, resources, and knowledge that private owners don’t always know they’re missing. 

We would love to talk with you about how we can help you have a better and more profitable experience renting out vacation homes. We know the Anna Maria Island market well, including all of the surrounding beach communities and the entire Bradenton area. If you have any questions about how to effectively rent out your vacation home with less risk and more reward, please contact us at Anchor Down Real Estate & Rentals.