This year, Florida featured prominently in the prestigious Travellers’ Choice Awards for the best US beaches. St. Pete’s Beach topped the list and Madeira Beach debuted in the ninth spot.
Wonderful beaches are a major drawcard for tourists. So, if you own a condo in Madeira Beach or you’re thinking of buying an investment property in John’s Pass, you’re onto a good thing.
A Madeira Beach condo rental can bring in a tidy income if you employ the right property manager from the start. Here’s how to set it all up.
Why Do You Need a Property Manager?
A property manager administers and oversees every aspect of beach condo rentals.
They have all the necessary hands on deck to ensure your rentals run smoothly. Their office personnel, maintenance teams, and managers ensure you don’t need to worry about a thing.
Employing a property manager for your oceanfront beach rentals offers several other benefits, such as:
- Providing a point of contact for guests queries and concerns
- The marketing power to maximize your rental occupancy
- Reducing the effort associated with managing multiple properties
- Prompt resolution of administration and maintenance tasks
- Improved earnings due to high guest satisfaction and repeat business
If you live far from your St John’s Pass, there’s no better way to ensure your vacation rentals go off without a hitch.
Getting Started With Beach Condo Rentals
You need to know you can trust the people you put in charge of your oceanfront beach condo rentals. So step one in the process is choosing the best local property manager for your needs.
Research all your options before you settle on a property management agency. Look for property managers who have experience in the business and an excellent track record. Online reviews can reveal a lot about their business ethics and performance.
Make sure they have a website to market their properties and an online reservation system for maximum customer satisfaction.
Ask if you can speak to some of their other clients, so you can find out first-hand how they work and what they offer.
Then, visit some of their other vacation properties to see if they’re well maintained and filled with happy guests. Once you’ve made your choice, you can set up a meeting with your chosen provider to discuss the finer details.
What to Expect From Property Managers
Most property managers offer a host of services and base their fees on which of these you need. Never sign an agreement with a property manager until you’re certain about which services you’ve signed up for.
Make sure you know who will be screening the rental tenants, what type of maintenance issues your contract covers, and who collects the money.
You should also ask about their reporting procedures. Will they contact you for approval before carrying out repairs? How often will they provide you with a detailed breakdown of income and expenses?
Clarifying these issues at the outset helps you know exactly what to expect and when to expect it.
Some of the items you need to discuss include:
- Which aspects are the owner’s responsibility and which ones the manager will handle
- The length of the agreement and termination clauses
- Fees involved in the service as well as any commission charged
Once you’re in agreement and you’ve signed the contract, this is what to expect from your property manager:
Before they sign an agreement with you, a property manager should visit your condo to determine whether it’s suitable for their customer base and to set up a rental rate.
At this time, they’ll also advise you on any extra amenities you should install to attract the best revenue, and which ones you can do without. They’ll also discuss aspects like your policies on pets, smoking, children, and other aspects of renting your condo out to vacationers.
The property manager will either arrange for new locks or ask you for a set of keys so that guests can access the property.
Promoting Your Property
As soon as you’re all on the same page regarding rates and policies, your property manager will prepare your home for its first guests. Then they’ll set up extensive marketing initiatives to ensure you get your share of the 86 million people who still vacationed in Florida despite difficult times.
You’ll see your condo advertised on their website, in print publications, and listed with online travel agents.
Your property manager will make sure your condo’s exteriors and interiors always look neat and appealing and also handle all the photography needed for marketing it.
From time to time, the manager might need to adjust your rates according to supply and demand or run special offers to attract more customers during quiet times of the year.
A property management agency will draw up a rental agreement with guests, go through the occupancy guidelines, and make sure they pay in advance for their accommodation. They’ll also manage the collection and refund of a security deposit.
They conduct both the pre-and post-occupation inspections, check guests in, and handle any necessary repairs promptly.
Once the guests leave, they’ll ensure your condo’s spic and span for the next arrival.
Regular property inspections help you avoid major repairs. A property manager will resolve small maintenance issues before they become big problems.
Thanks to their ongoing arrangements with the best contractors and handymen in the area, you’re assured of the best prices when it comes to maintaining or repairing your St Johns Pass condo.
A property manager also deals with seasonal maintenance issues if required such as keeping your garden neat and tidy.
Legal Advice if Needed
If you find yourself embroiled in a legal dispute or litigation, a good property manager knows how to find the best property attorneys to help you.
They also know all the legislation involved in vacation rentals, to prevent you from getting into trouble in the first place.
Work With the Best Madeira Beach Condo Rental Managers
John’s Pass Condo Rentals have been in the property management business for almost 3 decades. We offer a full team of professionals to ensure your Madeira Beach condo rental property brings you the best possible profits.
Get in touch right away if you’d like to set up a free property evaluation and get started making real money from your beach condo rentals.