3 successful ways to manage your holiday rental in Barcelona from all over the world
Commonly, property owners do not live in a commutable distance from the establishment, and therefore, find maintaining and generally looking after the property very difficult. With that in mind, we have compiled a list of realistic and feasible ways in which you can efficiently monitor your property from many miles away, without the need of physically being in a commutable radius.
Find a trustworthy team
Working with people you trust is fundamental to ensure that your property is reaching its maximum rental potential, especially for owners who do not have year-round access to the property itself. You should research and inquire about different property management companies who offer services that would take less pressure off you as an owner.
- Transparency. They should be able to provide you with statistics, occupancy details (including availability), at all times. It is your property, you should know exactly what is taking place in it.
- Maintenance: Similar to transparency, your apartment should be looked after. Your property management company should be able to inform you if any breakages, leaks, or damages occur in your apartment. Above that, they should also be able to have a maintenance team on hand that can resolve the problems, such that it does not affect your rental activity.
- Services: Do they offer the standard service that all property managers offer? A simple check-in, check-out would not allow your apartment to reach its full rental potential. There would be no justification in regards to increasing prices. Find a management company that cares for its guests, owners, and the local community. For example:
- providing and installing noise meters in apartments to ensure that building residents are not disturbed by your guests.
- offering services to your guests such as taxi services, activity tickets, or even cleaning services could enhance your guests’ experience.
It is extremely important that the occupants in your apartment are happy when they arrive, and even happier when they leave. They impact your apartment activity due to reviews written that the public can see, and if they are unhappy, the power of digital technology could heavily influence whether people are willing to book your apartment or not.
Professional property management companies often use the latest high-tech software to give owners a virtual window into their rental property. The software gives you secure anytime online access to rental agreements and financial statements along with updates on inspections, property maintenance, and marketing efforts.
Some managers even post-inspection photos to give owners additional peace of mind. Whenever you want to know how things are going, you can just log on. The software also gives owners another way to communicate with management, in addition to phone calls and direct e-mail.
Know the law, know your rights:
Get familiar with the basics of landlord-tenant law in the relevant country. Owning property may feel thrilling, but comes with sober responsibilities. If you fail to learn the fundamentals of rental property laws in the state where you own, you set yourself up for problems from better-informed tenants. Worse, you could let yourself in for costly legal action.
If you don’t have time to review the law, hire an attorney who can give you an encapsulated version of what you need to know.
Already working with a property management company? Find out if Stay U-nique can help you earn more profit from your holiday rental with our revenue forecast, by clicking the button below.