What is short term property management?
Short-term property management refers to the practice of managing a rental property for a short period of time, typically less than a year. This type of property management is often used for vacation rentals, corporate housing, and other types of temporary housing.
In short-term property management, the property owner or manager is responsible for finding tenants, setting rental rates, collecting rent, and handling any maintenance or repair issues that may arise. They may also be responsible for cleaning and preparing the property for new tenants between stays.
Short-term property management can be a lucrative business, as rental rates for vacation properties and corporate housing are often higher than those for traditional long-term rentals. However, it can also be more challenging, as there is a higher turnover rate and a greater need for flexibility and responsiveness to the needs of tenants.
Vacationbandb.com
Short-Term Rental Guide: Tips & Insights | VacationBandB.com
What can make short term property rentals easier?
Software can help streamline many of the tasks involved in short-term property management, making it easier for property owners or managers to run their business and for tenants to book and stay at the property.
1. Online booking: Software can allow potential tenants to easily browse available properties and book their stay online, without the need for phone or in-person communication. This can save time for both the property owner and the tenant.
2. Payment processing: Software can handle the process of collecting rental payments, including setting up automatic payments or allowing tenants to pay online. This can save time and reduce the risk of late or missed payments.
3. Maintenance and repair tracking: Software can help property owners or managers track and manage maintenance and repair requests from tenants, ensuring that issues are addressed in a timely manner.
4. Scheduling: Software can help property owners or managers schedule cleaning and maintenance tasks between stays, ensuring that the property is always ready for new tenants.
5. Communication: Software can provide an easy way for property owners or managers to communicate with tenants, whether it's through email, SMS, or a messaging platform. This can help ensure that any questions or concerns are addressed quickly and efficiently.