Oceanside is a great rental area with a large population and a lot of opportunity for investment. Naturally, there are plenty of pain points when it comes to having a property managed properly. Unlike with traditional rentals, there are also special concerns that particularly impact vacation rentals. Trusting the right company that has experience with both is crucial to your ultimate success.
Vacation rentals are special, and you require a special kind of company to work with, in order to maximize your return on investment and to minimize your losses. Oceanside is a great opportunity for making solid profits in Cali without a lot of the issues rentals often have. Trusting the right company can take you from “doing okay” to amazing success in short order.
Bad Management and Pain
Bad management can turn a good deal on a great rental into a palace of pain and a bottomless pit of lost money and wasted wealth. Bad management will put a bad tenant in place, let them trash the property, and then charge you, the owner, because “they can’t afford to pay for this.” Bad management will sit around collecting a direct deposit, doing the absolute bare minimum to keep getting paid, and ignoring everything else. Bad management will nickel-and-dime for everything, until even a profitable rental starts barely breaking even.
Bad management is easy to find but often hard to spot. Bad management will have very few positive reviews online, but not so many negative ones, because they will tend to quit on people who really care. Sadly, that is the only type of proactivity you are likely to get out of bad management.
The Difference Between Short Term and Long-Term Rentals
Most rental properties are fairly simple and straightforward. All you have to do is to lease them up, and you may be good for several years, doing little more than responding to maintenance requests, and occasionally raising the rent based on the local market. A property manager in this kind of scenario can mostly coast and be reactive, with only minimal money left on the proverbial table.
In a vacation rental scenario, there are additional concerns to deal with. The property must be furnished, and the furnishings need to be kept in solid condition. As well, the property needs to be cleaned after every person leaves, which may be a dozen or more times in a single month. Being able to act quickly, from handing off the key (and getting it back, of course) through the cleaning and re-listing process, is an essential part of property management in an environment like Oceanside.
A Company You Can Trust
Working here in Oceanside has a major set of challenges, and not every company can keep up with them. You need a company that understands the unique troubles of running vacation rentals, maximizing your income and keeping the process as efficient as possible. Working with Promise Property Management will help you build a solid rental income while preserving the condition of your property.