Category — property management

As I approach my 25^th year in Vacation Rental Management I reflect back over all the many changes that have taken place in the travel industry and the many specific ways vacation rentals have changed. I am also stuck, however, by all of the many things that have stayed the same. Unlike other sectors of the hospitality industry where is only two sides to the equation- management and guests, the vacation rentals sector has three- the owner, the owner’s manager and the guest. This is where some fundamental problems can occur. And, it is really a question of mindset.

How do you view your rental guests? It is amazing how many owners take their rental guests for granted. Most guests, who come to the Outer Banks year after year, would love to find a home that works for them and just keep coming back to that same house. However, it’s amazing how many owners fail to appreciate this loyalty and the monetary benefits of having a regular repeat following. By jacking up rental rates; failing to fix and replace items as needed; not providing the basics in your kitchen; not providing basic services like Wi-Fi; by not upgrading décor and electronics, owners send a signal that they just don’t care about the vacation experience of their guests. Guests, by and large, respond by taking their business elsewhere. Remember, that the things you may be willing to live with when you stay in your own vacation home, are unacceptable to most guests. They are paying good money and have the right to expect a good value and for things to be in good working order. You may not hear a complaint, but they will speak load and clear by not returning to your home. Remember, your home may be one of a kind, but it is not irreplaceable as a place to vacation. Make sure you are showing your gratitude by making your guest’s vacation as comfortable, fun and relaxing as possible. They will reward you with their loyalty.                               

Another mindset to explore is how you see your property manager. Do you see your property manager as your agent, partnering with you to care for your home and serve your guests?  Or, do you see your property manager as a separate outside entity with an agenda different than yours? If so, it may be time to sit down and have a heart to heart and make sure you and your property manager are on the same page. When an owner and his or her manager have the same mindset regarding guest service and property upkeep, it is a beautiful thing. Conversely, when mindsets are at odds, it can be extremely frustrating for both sides. There are many firms on the Outer Banks and they vary in their approaches- make sure you and your management team are a good fit.

This past season has shown us that the Outer Banks has extreme resiliency to economic downturn. While we got off to a slow start, the demand and desire for the Outer Banks remains high. Pre-reservations for 2010 are strong and the economic outlook continues to improve. However, the rental home inventory on the Outer Banks is aging and it is important that we all take the needed steps to work together to provide the vacationing public with clean, well keep homes and work hard to show them our passion for hospitality and our appreciation for their business.