Industry Expert, Ben Edwards
Why do many vacation home owners decide to rent their property?
Managing owner expectations: Is it a home? Is it an investment?
Should owners expect rental cash flow right away?
Property enhancements yield higher returns
Why hire professional property manager?
It’s a partnership not a “vendorship”
VRM hopping jeopardizes revenue
Key characteristics of great VRMs
Selecting the right VRM
Partnering with VRMs
Understanding the distribution channels
Expectations of a property manager
Social media & marketing
Importance of guest demands
How much revenue should be set aside or reserved?
How the vacation home should be owned?
Liabilities & special insurance
Expectations of Home Owners Associations
Tensions of owning a vacation home
Liabilities & special insurance
Short term vs long term rental
Go-to services
Seasonality of beach homes
Revenue expectations
Annual rental expectations
Maintenance & cleaning expectations
The value of a big business
What home owners should focus on?
Owning a beach vacation home
Expectations of servicing a beach home