What is the Time Investment of Owning a Vacation Rental?

When purchasing a second home for rental income, the first investment you think about is the financial cost of purchasing, owning, and maintaining a vacation rental. But have you considered the time you’ll invest in the process?

On average, it costs the owner 10 hours per week to maintain a vacation rental and provide a stellar experience for their guests. Time constraints are a common reason why homeowners contact Finger Lakes Premier Properties (FLPP) every day about managing their second home for both short and long-term rentals. At FLPP, we can manage the entire process by providing our owners with the following time-saving services:

Property Website & Profiles

Congratulations you have purchased a home to rent to vacationers coming to the Finger Lakes! Now how are you going to list it? You may choose to use one or a variety of third-party booking sites, each with its own calendar to update, description to maintain, and reviews to respond to. At FLPP, we manage all of your listings. From taking the professional photos to managing the profiles on each site, in addition to listing your property our top-ranked website attracting over 300,000 unique visitors each year, we’ll manage this cumbersome process for you.

Online & Onsite Reservation Agents

No need to worry about checking your email frequently for new inquiries. Our highly skilled reservation agents will follow-up, book, process payments, and secure a guest license agreement for each reservation. Between the virtual tours and knowledge of our agents, your prospective guests will have all of their questions answered about your home before their arrival. Our mobile-friendly website also provides guests the ease of booking and paying online.

24/7 Guest Services

We have a manager on duty 24/7 to answer any guest calls, eliminating your need to be available during their stay. If there is an urgent need to visit the home, FLPP will dispatch a member of their team to respond to your guest’s concerns.

Professional Housekeeping

The cleanliness of a house makes not only the first impression but a lasting impression. Cleanliness is an extremely high priority. We have professionally trained Zone Leaders and Housekeepers who are skilled and work diligently to prepare for all arrivals. All of our housekeepers are trained and scheduled to clean the entire house and switch out the linens between each reservation, at no cost to you! Depending on the size of your home, this could take up to 8 hours of your time alone! For more about our housekeeping services, click here.

Maintenance & Landscaping

Our Maintenance Department can provide repairs and home improvements for you at competitive rates. Each Maintenance Technician on our team is qualified to handle everyday issues that a renter might have while in your home, and we also work closely with preferred local vendors who meet our qualifications to offer services to our owners at the best rates possible. Our team also provides year-round services to homes throughout the region, including winterizations, snow-removal, and seasonal upkeep to further save you time on maintaining your home. For more information about our maintenance services, click here.

Yield Management

Some homeowners will set one rate for their home for the entire year, missing out on potential income based on local supply and demand. At FLPP we have a Yield Management team who monitors booking trends, consumer behavior, and the competition to present the right price for your rental to the right customer at the right time to maximize your earnings.

Marketing

When you list your home with FLPP you have the competitive advantage of being included in the diverse marketing strategies of FLPP’s team. From professional photography and virtual tours to instant exposure to FLPP’s establish digital networks and guest database, your home will be viewed by thousands of potential visitors almost instantly.

Book Keeping & Tax Filing

The experienced staff at FLPP does not stop with the front line. Members of our Accounting Department have been pro­viding timely owner statements and payments for 25 years. All financial transactions are in accordance with generally accepted accounting principles. You will receive automatic payment each month for your reservations and our team will prepare your annual tax documents for your vacation home.

Find Out More!

If you are considering renting your home or purchasing a home as an income property, keep all of these points in mind when calculating the time investment of maintaining a vacation rental. For more information about the property management services offered at FLPP, contact our Owner Services Department today at NewOwners@FLPPlake.com or 888-414-5253, option 3.

 

 

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