How To Work With A Property Management Company – A Guide For Siesta Key Vacation Rental Owners

We’ve all been there. You’re sitting around the dinner table with the family, listening to everyone talk about their day, wishing there was a way to make a little extra money without actually having to work. It sounds like a dream, doesn’t it?

What if we told you that it doesn’t have to be? We have your attention now, don’t we?

All you need to make this dream a reality is a trusted property management company to turn your vacation home or cottage into something that can earn you additional cash throughout the year. 

Our knowledgeable Siesta Key staff would love to help. We are ready and willing to answer any and all questions you may have. There are many Siesta Key rental companies you could choose to work with. Here is why we stand out from the crowd along with answers to many of the frequently asked questions that we receive. 

Most Common Owner Questions and Problems

Should I do it myself?

The first thing that we hear many clients say is that they feel they would be better off handling everything themselves. While that may seem like the easy route to go, in our experience, it can actually bring more chaos and stress into your lives than anything else. Most clients have their vacation homes further away from their everyday homes than they are willing to travel each week. Sure, renting the property might not be a daunting task, and having your new guests arrive will be great. You can set ground rules, collect payments, and be a gracious host to those guests from the comfort of your own home.

However, what happens when an issue arises that requires your immediate attention? If your rental is even two or three hours away, and the problem is something that is causing damage over time, every second counts. These situations are when it makes sense to have a property manager handling your rental property. 

beautiful white sand Siesta Key Beach

Should I work with a national company?

There are a few national property management services, but they are not truly local. Again, if a guest has a problem or something is damaged, they are no better off than you would be handling it yourself.

We are a local company with years of experience and an office staffed with real people that know the area. We are down the street from the homes and condos we manage, which means we can quickly respond should a need arise.

I’m sick of my rental company destroying my home.

This is probably the #1 comment we hear from owners. If you feel like you spend your vacation fixing your own property, that is a big problem and it shows you that the company you are currently working with isn’t doing their job.

We care for your property like you would. What is the point of having guests stay in your home if they are going to trash it? We work to include technology into your home that decreases the chances of having guests that disrupt the neighbors, waste money on energy bills, or devalue your home’s value.

What is my actual gross income?

It is very important when vetting your management company that you understand the rental structure of your agreement. Many companies have hidden fees, charge the owner for the credit card processing (up to 3% cost), or charge exorbitant fees that are actual profit centers for the company and they are not actually tied to expenses. Many of these deceptive tactics have made many homeowners think they were paying less than a 20% commission when in reality, they were paying far more. Also, many companies try to inflate their Gross Annual Rental Projections by including taxes in fees in their analysis. In most cases, the homeowners’ actual income is ONLY the rental rate received minus the management companies commission. Fees and taxes should be tied directly to expenses and operating costs, so these are expenses and not earned income. If a Property Management Company is showing you Gross Annual Rental Revenues, inclusive of Fees and Taxes, this is a deceptive tactic to inflate their projected rental values for your home. Transparency is vital and we are always happy to discuss our fee structure and how it protects you, the homeowner, and our Gross Annual Rental Revenues will always just include the rental rate, and they are almost always higher than our competition.

How is rental performance in the area?

Fun things to do in Siesta Key

Siesta Key has been ranked top beach in the U.S. several times. When you also consider the amazing food on the island and the proximity to downtown Sarasota, this is the ideal area for the vacation rental market.

We have seen substantial increases in tourism and rental income over the last decade. Not only are you making a good investment by turning your empty house into income – you are poised to do it just when industry leaders predict a travel boom.

Our experienced team is knowledgeable of the local markets. They can answer any questions regarding local hotspots, high and low seasons, rates for similar properties in the area, and what trends may be affecting the area positively or negatively. For years, we have proven our worth by steady growth and revenue increases.

How Are We Different From Other Rental Managers?

For those who are reading through this article but are currently with a different property rental company, let us explain what exactly we do differently. Have you arrived at your property after a guest left only to find it in a horrible condition? Or, are you tired of the many increases in charges, and fees, and perhaps a decrease in revenues? Siesta Key Luxury Rental Properties can change all of that. 

Our management fee is 20% and that includes credit card fees, accounting, marketing, distribution, access to a full-service maintenance team, and more. We send payments to owners on the 15th of every month based on the prior month’s revenue. Our contracts don’t lock owners into a specific term, which means you can leave whenever you want. We do require that you honor the rentals on the books or paying to have them moved. Learn more on our website, or call us directly at 941.349.1125.

We don’t just focus on marketing and renting your home, we go above and beyond. Many years of experience taught us that it’s the personal touches the keep guests coming back. We offer online grocery orders and delivery, a professional linen program, and many other services that companies do not. Little additions can increase the comfort of visitors – and you.

Our staff is available 365 days a year with after-hours staff for emergencies. But there are other ways we can increase your peace of mind. We include NoiseAware technology that makes sure we are being good neighbors to the rest of the street. Learn about how we ensure clean linens for all guests or keep reading to discover how we take steps to give owners peace of mind.

Peace of Mind

A code will be given to each guest that is unique to them. At the time of their departure, the codes are reset, and a new code is then generated for the next guest. Each home that we manage uses Smart Technologies for all the locks, thermostats, and door sensors. We also require that each guest renting the property is at least 25 years of age. We like to ensure that each guest coming into the home understands the importance that it has to you. 

cocktails at your luxury rental

Team of Professionals

We have curbside service through waste management in each area. All the trash cans are retrieved, and then returned to their designated areas each week by the waste management company. This way, guests do not have the task to do while on vacation. They can simply sit back, relax, and enjoy themselves. We have a band of licensed and insured professionals that will also handle all the lawn care, tree trimming, fertilization, pest control, and pool cleaning and maintenance. They, along with the property managers, will ensure that your property always looks its best. 

Have We Convinced You?

Kick start your return on investment now! Our talented and knowledgeable staff are ready to answer any other questions that you may have. Learn about our processes and procedures for home security, age requirements, trash, and vendors and services.

What Do The Property Managers Do?

The property manager acts like the perfect neighbor, close by to help with anything your guests may need. 

Our property managers will oversee the major aspects of your home, including any and all questions from potential guests. They inspect homes before and after each reservation.

By now, we have hopefully convinced you to at least give us a call to find out more about adding your investment property to our growing list of rentals. Let that property bring your family even more than a vacation spot throughout the year. Please give us a call at 941.349.1125 to set up an appointment to speak with one of our property management experts.

Location

Siesta Key Luxury Rental Properties
5111 Ocean Blvd. Suite B, C & D
Siesta Key, Florida USA 34242
941.349.1125(Office)
Hours of Operation: 9am - 5pm
#SiestaKeyLuxury #iHeartSiestaKey

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