Finding the right property manager to list and service your luxury vacation home is essential to maximizing both your rental income and investment appreciation. Your property isn’t a typical rental, so don’t settle for a typical manager. Here are eight questions to ask to ensure you find the right partner to help you reach your goals.
1. How will you market my home?
For a luxury home to generate bookings, you need exceptional photography as well as extensive experience merchandising the premium elements that matter most to your target audience. Ask to see listings the manager has for comparable properties. Then ask how they will reach qualified prospective guests. What channels will they list your property on? What services do they offer to ensure the highest-quality, most effective listing?
2. How you will care for my luxury home?
Properly maintaining a luxury vacation home requires a much different approach than a typical marketplace rental. Make sure the manager has a structured program for preventative maintenance with regular walkthroughs of the property, a routine cleaning schedule, a set turnaround time for handling repairs, and prioritization of safety and security items.
3. How often will you report to me about my home?
As with any significant investment, you want to keep close tabs on the status and performance of your home. The best managers provide at least monthly summaries of all bookings, rates, costs, fees, service calls, and guest issues, including reviews and complaints. They should also be available to you as necessary to address any concerns that arise.
4. What are your guest-facing service standards?
Your home is a luxury property. To secure repeat business—and future bookings—it must offer a complete luxury experience, and no detail is too small. Ask how guests are welcomed. Is there an on-site concierge? Is there help with itinerary planning? Daily housekeeping and 24-hour maintenance service if something goes wrong? Your prospective guests are demanding travelers; your manager must be experienced in exceeding their expectations.
5. Are your service providers thoroughly screened, licensed as appropriate, and insured?
This is critical. To guard against liability and other risks, the best managers thoroughly vet all providers who service your home or interact with your guests. Housekeeping, concierge, and maintenance companies all need proper licenses and insurance coverage. Insist that this be covered in your contract.
6. How does your fee structure work?
Does the manager have real economic skin in the game, or are they simply passing through all the booking and marketing risk to you? Experienced managers have the wherewithal to offer annual financial guarantees, depending on the location and condition of your home. Will they work with you to achieve your goals—whether you are seeking to monetize months you don’t use your home or capture a yield-based investment return?
7. How do I know that guests will be pre-screened and that rules of the home and community will be honored?
Luxury vacation homes are often located in communities with strict rules: maximum occupancy, pet and noise restrictions, smoking bans, minimum renter age requirements, and more. Be sure that the manager knows these rules in detail, and has experience in setting expectations and enforcing them appropriately with guests. The last thing you want is a dispute with fellow property owners that could tie up your ability to rent out your home.
8. Will I be able to vacation in my home when I want to?
It is your vacation home, after all, so you want to make certain you can vacation in it. How does the manager help you enjoy your investment while still maximizing your return?
Inspirato manages, staffs, and maintains an exclusive portfolio of branded luxury vacation homes. With decades of experience in the luxury hospitality and property management industry, our team is excellently equipped to handle your luxury vacation rental, from marketing and booking to maintenance and the complete guest experience.