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5 Ways a Property Management Company Can Make You More Money

[upme_private]Deciding whether or not to use a property management company for your cabin rental is a big decision. As you’re weighing the benefits and the expenses, we think you may be shocked by all the ways we can actually help you earn more money than if you were to manage it on your own.

1. Allows You to Invest in Distant Properties

There is no doubt there’s a high demand for quality vacation rentals in the Smoky Mountains. However, we understand not all potential property owners live close enough for it to be economically profitable to own and manage a cabin in the area themselves.

By choosing a property management company, rental owners are opening the door to invest in properties many miles away. This is especially beneficial if you want to get into the vacation rental market, but don’t have a high demand in the area where you live or you don’t have time to travel back and forth.

2. Offers Better Marketing Services

Marketing is the number one way to ensure that your rental property stays occupied. That being said, marketing can also be pretty expensive, especially for property owners who choose to do all of the work themselves.

Between creating and maintaining ads and  searching for new leads and potential customers, this effort can be pretty time consuming. Thanks to the larger budgets that property management companies have, as well as their insight into market trends, cabin owners who choose to work with us get to experience all the benefits of marketing their cabins to a wider audience without any of the extra costs that add up when you try to market alone.

3. Knows Your Cabin’s Earning Potential

The furniture is in, the tv service is turned on and the hot tub is ready for use. Now that you have everything you need to keep guests happy and satisfied during their stay, it is time to decide how much of a nightly rate you should charge.

If this is your first property, or you aren’t very familiar with the market, this can be a bit of a challenge. You don’t want to guess too low and cheat yourself out of potential income, but you also don’t want to charge too much and deter potential guests.

When you use a property management company, they will take all of the guesswork out of rental costs. We have years of experience and knowledge of market trends when it comes to renting your property and we will ensure that your cabin is listed with the best rates so you are making the most from your investment.  Your ROI is very important to us.

4. Lowers Maintenance and Cleaning Cost

When you first think about money, in terms of your rental property, it is easy to focus on the amount you expect to collect each time the unit is occupied. However, there are several circumstances and instances where a property management company can save you money that you may not even realize, like maintenance costs.

Thanks to the fact that we operate our own maintenance and cleaning crews, most likely the charge for services will be significantly lower than if you were to look for it on your own. Hiring a 3rd party team can get pricey every time your cabin is made ready for new guests.   Plus,  it’s time consuming to schedule maintenance and cleanings for every time your cabin needs it.

5. Takes Up Less of Your Time

Everyone’s time is valuable. Property owners who choose not to rent their cabins through a property management company are solely responsible for everything that a guest experiences during their stay in that rental. This means that the owner will receive every late-night phone call and will be responsible for check in and check out procedures, finding maintenance workers to take care of any issues reported, and wondering if there are issues that were not reported yet but need attention,  hiring and keeping a good cleaning crew who shows up every time you need them and does a great job, and everything else that takes up time to make sure that the guest is satisfied.

Although it is not costing you actual dollars to do all the work yourself, it does take time away from your ability to do other things that you enjoy. We have all heard the phrase that time equals money, and by using a property management company, cabin owners are able to spend their time doing what they really want to do whether it be extra hours at work or enjoying free time.  Not wrestling with the issues associated with owning a property in another state and trying to delegate and hoping you’ve found trusted individuals to take care of things for you.  Trust us!

Yes, you will pay the management company a commission.  And at Stony Brook Cabins we will earn every penny of it and then some.  We diligently take care of the business of maintaining and renting your property.  We promise to take care of it as if it were our own.  We are here when you can’t be.  We live here.  We work here.

If you would like to learn more about all the ways we can help you earn more money with your rental property, feel free to give us a call at Stony Brook Cabins. We would love to talk to you about how your property might fit into our program and what you can expect from our management company.  Please call and ask for Pam.  She would love to speak with you![/upme_private]