Choosing a Property Management Company: Things to Consider

Buying a property to let out as a short-term or long-term rental is an excellent investment that can be lucrative and rewarding. However, managing a property alone can be stressful and extremely time-consuming, especially if you don’t live nearby.

Property management companies take the pressure off by looking after the property on your behalf. However, handing over the responsibility of your property can be worrisome. Choosing reliable and expert property management is crucial to rest assured your property is in good hands.

Keep reading to learn more about the key considerations when selecting a company to manage your property.

Availability

When residents stay in a property, whether short-term or long-term, time-sensitive issues are bound to arise, fast communication and quick response are vital to ensure any issues are resolved promptly to ensure high customer satisfaction. 

Especially with short-term rental management of Airbnb or holiday rentals, holidaymakers will likely require more assistance than long-term residents. With delayed flights, and lost keys, things don’t always go to plan. Opting for a company with 24/7 guest communication and around-the-clock assistance gives you peace of mind that no matter the time of day, your residents can contact someone whenever needed.

Experience

Some jobs you can do right off the bat to the same standard as experienced individuals. However, property management is not one of them, expertise is developed over time with experience. 

Consider how many years of industry experience the company has in property management, try looking on a few companies’ websites at the range of properties they have previously managed.

Maintenance services should be performed by dependable professionals to guarantee high-quality results. New companies often lack the established network of reliable connections needed to deliver maintenance work at the same standard as a well-established property management company.

Reputation

A good reputation will tell you a lot about the integrity and performance of a company. Holidaymakers are often looking for a relaxing break and are happy to scour reviews to find the place where they will receive the best service. Likewise, bad property reviews are likely to deter people from choosing the property as their accommodation. 

Most short-term rental management companies will have testimonials on their website. it's recommended you read through these to determine whether guests are having a positive or negative experience in properties managed by the company.

Value

While you may be inclined to choose a cheaper management company because it enables you to make a greater profit, the services provided tend to be less comprehensive or of poor quality. When it comes to short-term rental management, it's essential to know that your team are equipped to handle any kind of issue.

Likewise, good management sets up maintenance strategies to prevent damage or wear to a property that could incur higher costs to be replaced. Investing in high-level management can save you money long-term by keeping your property in good condition.

Maintenance Expertise

Airbnb maintenance services should be comprehensive enough to provide you with a hands-off approach. A good maintenance service will have all the procedures in place so that if a problem arises they have a team ready to spring into action.  

Check whether the property management company you are considering offers all the maintenance services you expect, including a high standard of housekeeping and scheduled or emergency maintenance work across appliances, plumbing and electrical systems.

Property Management Fees

Look at how the property management company structures their fees. Property management companies can make a profit in two ways, by taking a percentage of rental prices as commission or a fixed rate monthly.

Another thing to check is whether this price includes all the necessary services or whether they would incur additional costs. Sometimes fees depend on the number of services used per month. In this case, you want to ensure that maintenance services provided are cost-effective and reliable.

Insurance

Airbnb insurance can be purchased by the property owner separately but some property management companies include it in their full-management packages. Insurance policies must have comprehensive coverage of the property and the guests who will stay there. Liability insurance is crucial to cover any accidental property damage or injuries that might happen to guests during their stay.

Reliable Team

Choosing reliable Airbnb management can feel overwhelming with the number of companies available. When making a decision about which company is the best fit for your property, we recommend you meet the team who will be responsible for looking after your property and your guests. This enables you to get a feel for the company and allows you to discuss your needs and concerns and find out how they would manage your property. Team members should be friendly and helpful to ensure a positive interaction with your residents.

At CityGuest Properties, we’re a leading Airbnb management company in London with extensive experience in managing short-let properties.

Our trusted team will handle the entire rental process from start to finish. From advertising the property, booking guests, housekeeping and maintaining the property, we’ve got you covered.

We understand that entrusting your property to someone else can be concerning. That's why we strive to offer reliable and exceptional service. You can rely on us for 24/7 guest communication, ensuring that any issues with your guests or the property are handled promptly and professionally.

Book a free consultation with CityGuest Properties to learn more about how you can unlock your earning potential effortlessly with our expert property management.