Top 6 Frustrations of Vacation Rental Homeowners

…and how Finger Lakes Premier Properties can help!

On the surface, jumping into the vacation rental business seems like a no-brainer for open-minded homeowners. Fluff the pillows, snap a few photos, list on a booking site, and collect the cash… done. At Finger Lakes Premier Properties (FLPP), we often hear about the frustrations homeowners have with maintaining their vacation rental themselves. The good news, we are here to help! We’ve outlined the top 6 frustrations below to inform prospective vacation rental owners, and to reaffirm current owners that they are not alone.

Problem #1: How do I determine my rental rates? Do they need to change? If so, how often and by how much?

FLPP has the solution: FLPP offers a Yield Management program at no cost to you! This optional program provides a systematic adjustment of pricing and length of stay designed to drive occupancy and revenue based on your home’s characteristics and demand. When a new reservation is secured you will receive a confirmation. Each confirmation includes the rate the guest was charged for their stay. FLPP offers an online Owner Portal for all the need-to-know information about your home! For example, it provides access to your year to date income, a dashboard of income and expenses for a given time period, and access to the rental calendar. Making an Owner Reservation from this portal is quick and easy!

Problem #2: I am no longer able to complete a screening process through third-party booking sites.

FLPP has the solution: FLPP’s screening process ensures that the guest’s expectations are met/exceeded. This screening communicates our policies and procedures with prospective guests who must sign a rental agreement to complete the booking. FLPP speaks to all of our guests by phone to ensure age limits are met, pet policies are understood, and that parking and occupancy requirements are understood.

Problem #3: I am spending hours cleaning, maintaining, and completing maintenance tasks at the property on turn over day.

FLPP has the solution: We can help! We offer a turn-key full-service option. Our services ensure our owner’s properties are well cared for at all times. We take pride in the quality and consistency of our cleaning and maintenance services. Our services are tailored to ensure our owners and vacationing guests achieve their goals.

Problem #4: I have had untimely payments after a guest has stayed.

FLPP has the solution: FLPP provides owners with monthly statements by the 10th of each month, or the bank’s next business day. Statements provide a summary of your rental proceeds along with any expenses or charges from the previous month.

Problem #5: The third-party booking sites are not always responsive in answering my questions.

FLPP has the solution: FLPP has a dedicated team in the Owner Services Department. They are here as your advocate! They can answer questions, accept any feedback or comments related to your home, reservations, or guests. We respond within 24 – 48hrs, 7 days a week to all questions.

Problem #6: Third-party booking sites do not provide a 24/7 helpdesk to my guests.

FLPP has the solution: For your convenience, we provide 24/7 guest services year-round by phone. You will no longer need to be available to answer guest calls during their stay. Our Penn Yan office is staffed 7 days a week. During the summer we are open 9:00 am – 8:00 pm (all week) and 9:00 am – 5:00 pm during the off-season (Monday – Friday).

There are millions of successful vacation rental homeowners around the globe, and not all of them use a property management company. Your level of knowledge and effort determines your success. As the leading vacation rental company in the region, we want to ensure the demands of entering the industry are understood by every homeowner, whether or not they partner with us.

Ultimately, you’re responsible for a family’s lodging and become the backbone of their entire vacation. This is a huge responsibility. At FLPP, we have full-time employees for housekeeping, maintenance, guest services, reservations. Anything a guest could possibly need is a phone call away, and we’re always happy to help.

Finger Lakes Premier Properties has been in the vacation rental business for 25 years. Contact us today at (877-386-6022), or via email at newowners@flpplake.com, for information about our property management program.