How to Choose Your Property Manager ~ The Business Blog
Hint: it’s not the cheaper option!
“You get what you pay for.” – a phrase often heard after something you purchased doesn’t last as you anticipated it would or isn’t the quality you expected. From everyday purchases like food or an umbrella when caught in the rain, to investment/management services like choosing a contractor to build your home, or utilizing an investment company to increase your wealth, consumers must evaluate a product or service’s cost versus expectation in order to choose what fits their needs best. They must weigh all variables relevant to the purchase to define their expectation of value, while the provider or seller has to convey the worth of said product or service. When it comes to knowing how to choose your property manager, at Southern, we make it easy.
In the vacation rental management industry, this adage is no different. While determining the value of a service is different than a one-time purchase product, the strategy or reasoning is the same. Consumers must establish their needs and expectations, do their own research to verify validity to then compare the service/product to determine the balance of quality and cost and choose accordingly.
In our industry, vacation rental management companies are paid through taking a commission of the gross rental income made over a year, and some even charge monthly/quarterly/annual fees for maintenance or other expenses. A lower commission may sound enticing, but you’ll likely see some regular fees to help offset some costs.
At Southern, we are interested in building a long-term, mutually beneficial relationship with our homeowners. That’s why our owners never see a maintenance, marketing, linen, or other fee on their statements. You’ll never see a charge for credit card fees, reservation fees, linens used by guest, changing lightbulbs, replacing A/C filters, even professional photography and a keyless lock system – our owners never see a charge for any of it. We believe that having a transparent working relationship with our property owners will only lead to better service and long-lasting relationships.