How to Manage A Short-Term Rental Property

Vacation properties can be a lucrative source of income, particularly in a place like Canmore where tourism is a major industry. If you are a new owner of a vacation rental property, there are some best-practice strategies to satisfy both your guests and your wallet. Read our guide for tips and tricks on how to manage a short-term rental property.

Proper Marketing

To set your short-term rental apart from others and attract guests, you should take the time to work on your marketing strategy. The two most important things to consider when marketing your property, particularly online, are your property photos and descriptions. Keep images updated. Whenever there is a change of information regarding your rental, make sure the property description reflects that. In Canmore, visitors are typically coming to the area for accessibility to the outdoors. Highlight the views from your property (who can resist mountain peaks?). If your rental is hidden away, talk up the seclusion and connection with nature.

For a property that is nestled in the midst of the town, make sure to enlighten your guests on the local amenities such as equipment rental sources, eateries, bars, and other local gems. Remember, reviews are a key resource to attract guests; to receive positive reviews keep your marketing transparent!

Accessibility

Guests will be immediately turned away from booking your rental if they feel there is a lack of communication. As a short-term rental owner, you must be accessible to your guests. Most potential renters will have questions before they book their room. If they cannot get a timely response, concerns about the professionalism of the owner will be raised. Guests also expect to be able to reach out to the property manager during their stay if they have questions or concerns. Again, customer service is a major factor in receiving positive reviews on your short-term rental property.

User-Friendly Services

Especially with the available technology, guests are searching for convenient and user-friendly amenities with their vacation rental process. The first user-friendly service a property manager should focus on is the web portal. With platforms like Airbnb and VRBO, guests and hosts are able to directly communicate through the site.

The second area that impacts guest satisfaction is the payment processing system. Choose a system that is easy for both the guest and the owner to navigate. Again, many vacation rental websites have an in-platform payment system that are proven to provide a positive experience for both guests and hosts.

The third area to invest in is up-and-coming technology trends. One of the newest (and most convenient) trends coming to short-term rentals are digital smart locks. This system provides guests with a unique code for self-access upon arrival. Smart lock systems generate a random code for each stay and are reset upon guest check-out. The ease of digital smart locks eliminates the need for coordinating specific arrival and departure times and provides the guests with more privacy.

Enlist Help

Particularly if your short-term rental property is remote from your permanent residence, you’ll need to enlist help! Research and reach out to reputable service companies. A great way to find the ideal businesses to help you with your rentals are word-of-mouth referrals from other vacation rental owners. A few of the most critical services to employ:

Cleaning service

Guests expect to arrive at a tidy vacation rental. Hiring a cleaning service to pick up and deep clean your property before and after visitors is the perfect way to ensure guest satisfaction. If you’re looking for a business to keep your property clean between visitors, check out EcoFriendly Summit Cleaning Services! They handle a variety of property types and specialize in Airbnb and short-term rental agreements.

Lawn/Landscaping Care Service

Another area to avoid neglecting is the lawn and landscaping of your rental. The exterior of your property should reflect a level of professionalism and curb appeal. Hiring a well-respected lawn and landscaping service can help guests feel at home and pampered by arriving at a well-manicured yard with beautiful and maintained landscaping. For seasonal or year-round lawn upkeep and services, reach out to Canmore Maintenance. With additional snow removal and waste removal services, they are your one-stop rental service!

Maintenance Services

You can’t be responsible for routine maintenance check-ups if you live hours away from your property. You’ll also need emergency contacts in case an issue arises while your guests are staying at your property. By establishing a relationship with a local reputable maintenance service, you’ll have peace of mind while you’re away. Here are a few local recommendations for a variety of maintenance needs:

• HVAC: Cascade Mechanical
• Electrical: Wildrose Electric
• Painting: Peak Performance Painting
• Construction: Bart’s Construction or Ashton Construction Services

Property Manager

The extra income is great, but maybe managing your short-term rental seems like more work than you’re wanting to put in. This is where a property manager comes in! If your vacation rental is a condo (or similar layout), there may already be a property manager that handles other spaces nearby. Ask around to other short-term rental owners to see if they are already working with a professional (and satisfactory) property manager to find the perfect fit for you.

Whether you’re searching for your next short-term rental investment or in need of someone to work with you on managing your property, reach out to us at Canmore Real Estate Company. We are experts at handling all types of property transactions and would love to be of assistance. To get started, contact our seasoned real estate agent Devin Stephens. Devin is happy to help in whatever way he can, just give him a call at 403.688.7769 or reach out via email at [email protected].