How many of your Long Island vacation rentals are sitting vacant, collecting dust? Without help, your vacancy rate will continue to rise! Instead of losing money, hire a short-term rental management company.
There are now over 290,300 property management businesses in the US, with nearly 32,200 in New York alone. Without a plan, you could struggle to narrow down your options. Use these three tips to find the best NY short-term rental management company today!
1. Look for Experience
With so many New York property managers to choose from, it helps to prioritize experienced professionals. Determine how long each NY short-term rental management company has operated. Consider how many vacation rentals in Long Island they're currently managing.
An experienced team likely uses proven strategies to support their clients. Learn more about their processes, resources, and techniques. Determine if they use state-of-the-art technology and automation when offering their services.
Experienced property managers are more likely to spot areas of inefficiency. They can leverage their years of industry experience to give you a competitive advantage.
An inexperienced team, on the other hand, likely needs time to develop processes and strategies. They may make costly mistakes while managing your properties in Long Island.
Confirm that the company is licensed and insured. Ask if their property managers complete training or have credentials that speak to their level of expertise.
2. Explore Their Services
Choose a full-service rental management company. Their range of services can save you time and money. You won't have to hire multiple companies for the help you need.
Their services could include:
- Accounting and reporting
- Guest services
- Booking coordination
- Maintenance and repairs
- Cleanings and inspections
About 80% of property managers coordinate or complete maintenance and repairs. Maintaining your vacation properties can help you avoid more costly repairs in the future.
Consider the problems you've faced when managing your vacation rentals in Long Island alone. Look for a company that offers services that align with your needs.
For example, perhaps you've struggled to book your properties in Long Island. Look for a company that has marketing experience. Ask how they've lowered a client's vacancy rate in the past.
3. Read Online Reviews
To find the best property managers in Long Island, read online client reviews. Client reviews will help you find a reputable company worthy of your trust. It can also help you recognize which companies to avoid.
Look for problems that repeat between different clients. Chances are, you'll experience the same issues. Remove those companies from your list of options.
Look for companies that communicate with their clients. If their property managers aren't responsive, you could struggle to get help.
Long Island Short-Term Rental Management
Don't make the mistake of hiring an inexperienced short-term rental management company. Instead, use these three tips to find a team you can trust with your Long Island properties. With their help, you can book your rentals out for the entire year!
Need rental management services? PMI Eastern Long Island has almost 20 years of experience helping property owners maximize their earning potential.
We use state-of-the-art technology and award-winning services to maintain our strong record of success. Schedule a consultation to request help with your vacation properties today!