🏡 Increase Your Vacation Rental Profits in Kissimmee & Davenport with These Tips! 🌴

[Alberto Nikodimov]

The Orlando vacation rental market is hotter than ever, attracting a large number of tourists. However, with the surge in vacation rental homes, it's crucial to stay ahead of the competition. Here are some key insights to maximize your investment:

1️⃣ Partner with an exceptional property management company: The rise in the number of vacation rentals has led to an increase in average property managers. If you choose to hire a property manager, ensure they comply with all laws, regulations, and pay the necessary taxes. Don't overlook this critical aspect of your investment.

2️⃣ Exceed guest expectations: With fierce competition, successful vacation homes must stand out. Focus on decor, themes, and impeccable maintenance to create an unforgettable experience for your guests. Exceptional customer service is also a must!

3️⃣ Stay legally compliant: Authorities are becoming stricter in monitoring licensing and state tax contributions. If you choose to self-manage your vacation rental, ensure you comply with all legal requirements to avoid any issues down the line.

4️⃣ Minimize liability with a proactive property manager: Many property managers fail to reduce their clients' liabilities. Make sure your property manager takes proactive measures, such as posting necessary pool signs and selecting appropriate furnishings that minimize accidents and owner liability. A knowledgeable and diligent property manager will protect your interests, reduce liability, and provide peace of mind.

By following these strategies, you can navigate the changing landscape of the vacation rental market and maximize your profits. Stay ahead of the game, provide an exceptional experience for your guests, and select a property manager who prioritizes compliance and minimizes your liability.

[Michael Baum]

Self manage! Only you care about your vacation rental! 

[Alberto Nikodimov]

Hey @Michael Baum, it seems like you've had some negative experiences with STR (short-term rental) management companies. This is unfortunately a common issue for many investors, and it's precisely why I decided to establish my vacation home management company. Having worked for and observed how other management companies operate, I noticed that they often prioritize their own interests over those of their investors. Being an investor myself, I wanted to make a difference, so I created a company that values honesty, transparency, and, most importantly, profitability for our investors. While there are a few other similar companies out there, they are indeed quite rare.

I understand where you're coming from, but I sincerely hope that my company and other reputable management companies can change your perspective!

[Michael Baum]

Nope @Alberto Nikodimov, zero experience with any PM's. I just like keeping my money. In our area 35% is the norm and I was quoted 40% from one PM. Most won't drive out to our house as it is pretty far from town.

I fine self managing easy as pie.

[Alberto Nikodimov]

@Michael Baum I'm glad it is working out for you. The lack of a professional management company & high prices are perhaps due to the area where your home is located. In our market average PM fee is 18%-25%.Some of my friends who own a single short-term rental tend to manage it themselves to avoid the 20% management fee. However, once you expand to 3-4 units, start operating on multiple booking platforms, and have to handle state and local county taxes, self-management can quickly become a full-time job. This is typically when they reach out to professional property management services like ours.

We also cater to many investors who simply don't have the time to manage their properties themselves. Companies like ours offer a great option for them, providing expert management services and freeing up their time.

[Brooklyn McCarty]

I don’t agree with #1. Self management allows you to be in control of the property and save commission fees, putting more money back in your pocket. 

[Alberto Nikodimov]

Hi @Brooklyn McCarty, self-management works if you want to have a part time job or a full time job if you have more than 5 properties. If you want to concentrate on growing your portfolio while maintaining a career, you need to have a property manager. In addition to this, there is a huge difference in the performance of them home when is being managed professionally by a great management company vs when someone self-manages. When the management is done right, it pays for itself.

[John Malone]

@Brooklyn McCarty self management also can unlock some lucrative tax strategies as well!