As property managers in Pensacola Beach, we understand that whether you're a newcomer in the vacation rental industry or are already expanding your portfolio with new beach condos and homes, there's always a seemingly endless list of to-dos.
From buying cleaning supplies to setting the ideal pricing strategy for your rental, it can get pretty hectic. That's why we like to share our expertise with property owners and help them make the right decisions that will lead their businesses to success.
In this blog, we'll provide you with a crash course on Pensacola Beach property management.
Here are the top 10 things you should know:
First things first — one of the major aspects of setting up a short-term rental is having to bear costs. When you're launching a new rental in Pensacola Beach, you'll be met with startup expenses.
Generally, when it comes to costs, it's very important to plan ahead. Determining your costs for your beach rental can sound complicated, but you can count on us to make it easier.
Let's break down the two types you need to consider:
- One-time costs: these are the expenses you have to consider when setting up a new beach rental. These are costs related to repairs you might have to make before listing your property, as well as the costs involved with buying furniture, creating a nice decor and adding unique amenities that will make your rental rise above the competition. Also, you'll have to invest in top-notch photos to advertise your rental.
- Fixed costs: these are regular costs to any property owner, like paying for utility bills, internet, specific supplies, and paying the staff. They are like the ones you have to deal with when maintaining a private home. It doesn't matter if you are getting lots of guests or not, these are fixed costs you'll always have to deal with.
Pro tip: don't worry too much if your first months have negative revenues. When you're just starting in this business, that's normal. It takes some time for your rental to build momentum — stay optimistic!
The decor of Portside Villas unit 13.
Nowadays, guests are continually seeking unique experiences. Therefore, when establishing a new rental, investing in good decor and modern appliances is crucial.
Creating a distinctive ambiance that captures the attention of potential guests is a wise idea. Achieving this isn't as challenging as it may seem if you draw inspiration from your surroundings. When you do so, the results are usually impressive and tell a story that connects with local culture.
In our Pensacola Beach market, guests expect to find rentals featuring beach-related decor, and that's certainly something that contributes to enhancing their experience.
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When decorating your home, you can draw inspiration from your very surroundings. Consider how you can leverage the local allure and incorporate it into your decor. The Beach Decor of Portside Villas Unit 17.
Investing in the right amenities for your type of property is a key aspect of standing out in our highly competitive market. Going the extra mile through amenities is the secret to creating that unique element guests are looking for. Good amenities will also bring you more bookings and increase your revenues.
Amenities like smart TVs are no longer considered a luxury; guests already expect to find those when they rent a short-term property. Based on our experience, hot tubs and private pools are highly sought after by most guests. So, if you want to create that "wow" factor and a memorable experience for your guests, these are the amenities you should have in mind.
Another essential amenity that will catch the attention of potential guests — and get you extra dollars — is a well-equipped and modern kitchen with all cooking appliances. Believe it or not, guests like to wear their chef's hat and a full-size kitchen is one of the main reasons people choose short-term rentals over hotels.
If you want to impress your guests — and you should — don't be afraid of using your imagination and creativity to create an exceptional experience.
Pro tip: one thing we have realized over the years is that guests really appreciate pet-friendly rentals. Considering this option will open your business to a larger portion of the market visiting Pensacola Beach.
More and more guests appreciate pet-friendly beach rentals.
Every professional manager in Pensacola Beach and beyond understands that maintaining your beach rentals spotlessly clean at all times is one of the most crucial factors contributing to a high score. Cleanliness significantly influences rates and reviews, and that's why we make it a top priority.
At Pensacola Beach Properties, our cleaning staff shows their expertise before every check-in, addressing visible issues such as replacing linens and towels and sanitizing hard surfaces, floors, showers, toilets, and hot tubs.
We also offer deep cleaning services to rental owners. This involves moving heavy furniture and appliances to clean underneath, inspecting walls and ceilings for cobwebs, and treating wood surfaces, among other tasks.
We stand out as one of the few companies in our area with in-house cleaning inspectors — ensuring that all tasks are consistently performed to the highest standards.
Besides cleaning, consistently maintaining your rental in good condition is vital to upholding a high-quality score. Your cleaning staff plays a crucial role as they are the ones who report damages and maintenance needs.
Given the higher turnover of guests in a beach rental, it requires more frequent maintenance than a regular home. It's advisable to periodically inspect the rental yourself or have a reliable party do so on your behalf. Regular checks should include assessing your supply inventory, replacing old or damaged items, and inspecting sinks, showers, and baths.
Do not overlook significant tasks like repainting walls, repairing flooring, and changing carpets, as neglecting these can lead to higher costs in the future.
For beach rentals, unique environmental conditions, such as salt exposure, should also be considered. As property managers in Pensacola Beach, we have devised strategies for regular check-ups and preventive actions. We keep owners informed about any damages that may occur to their properties and provide recommendations for regular maintenance.
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The professional photo of Beachin' Fun's living room.
Once you have perfected your decor and top amenities, it's time to capture all its charm through great photos.
Over the years, we've met many rental owners who thought they could save a few hundred dollars by taking beach rental photos themselves with their smartphones. There's no doubt those tiny cameras have developed into high-quality tools, but your vacation rental deserves better treatment.
Having a skilled eye and the right equipment will make all the difference in your rental photos. Also, professional lenses can work wonders with interior and exterior photographs.
That's why we always suggest investing in hiring a professional photographer. At Pensacola Beach Properties, we contract the best professionals in the market to shoot our properties. In this competitive market, having fantastic photos of your property is a significant advantage. Trust us; with the right pictures, you can most likely boost your nightly rates by 50% or more.
Trust us; with the right pictures, you can most likely boost your nightly rates by 50% or more.
Superb photos? Check. Now it's time to advertise your property to the world.
The most popular listing websites among vacation rental owners in Pensacola Beach are Expedia, Airbnb, and Vrbo. However, Airbnb and Vrbo stand out as the prime ones, bringing in more bookings than the others.
You should be familiar with the specificities of each platform and select the ones that best fit your type of property and the way you want to run your business.
Here are some aspects to investigate about listing websites:
- Does the platform provide subscription-based pricing or charge per booking.
- Does it offer insurance coverage?
- Is it well-received by your target audience?
- What are the booking-related costs? Review their policies carefully regarding host fees, guest fees, credit card fees, and any other potential costs to avoid surprises.
- Does the website offer trustworthy customer support? Remember that technology can sometimes present challenges.
- Does the platform support software integrations? As your business grows, you may want to incorporate additional tools to streamline your operations.
In this industry, you can choose multiple platforms. In that case, aim for the optimal mix that will work best for your target audience.
Pricing can determine the success or failure of rentals. It's natural for property owners to want to set a high price after investing in decor, amenities, and photography. However, it's crucial to step back and examine your rental in a detached way.
All the factors mentioned above influence the establishment of nightly fees. Calculate your major and minor costs and add your expected profit margin. Once sorted out, compare your rental and its offerings against similar properties in the market. Ask yourself: Is the price I set for my rental fair and competitive?
If the answer is positive, that's your optimal nightly fee. However, pricing is never static; it changes based on certain circumstances, especially demand.
In the hospitality industry, setting a dynamic pricing strategy is key. This involves adapting your rates based on your guest's disposition to pay. For instance, you can charge higher prices during high seasons and lower prices off-season.
Setting the right price is a continuous challenge, and things can get complicated. The good news is that technology can assist you. There are software options available on the market, such as Wheelhouse, PriceLabs, and Beyond.
Property managers in Pensacola Beach understand the impact these pricing software tools can have. They can significantly reduce your workload, up to 70-80%, while potentially boosting profits by 20-30%.
Now, imagine having a skilled professional manager on top of that working full time. At Pensacola Beach Properties, we have a highly dedicated Revenue Management staff constantly working on improving pricing strategies. In this way, you'll maximize your profitability to the highest degree.
Everything set? Great! That doesn't mean your work is done, though. When those bookings start rolling in, that's the time when the real work starts.
A substantial part of your work in owning a beach rental property entails handling guests and establishing a good relationship with them. That's a very important aspect to lead you to success.
Guests expect you to be an exceptional host ensuring they have a flawless experience. The best strategy is to focus on aligning guests' expectations with reality. This means that you need to make sure the major aspects of your rental, such as pictures and descriptions meet the reality. Once a guest arrives at your place, they should find exactly what they saw in your photos.
Another major element in this game is communication, which is very time-consuming. To optimize this process, a good idea is to offer a great deal of information to guests in advance through your rental descriptions, manuals, as well through guidebooks. You should do it in a way that tackles as many questions as possible before they're asked.
Even with guidelines and great descriptions, guests will always come up with questions. At Pensacola Beach Properties, we have an amazing customer service staff working 24/7 to address guests' needs. Also, we understand how important replying to guest inquiries quickly is a major aspect in getting 5-star reviews for the beach rentals we manage.
Be prepared to deal with guests breaking your rental rules or leaving the place filthy dirty after they leave. You might also come across broken items and damaged amenities. The fact is that the way you deal with these issues will influence your success as a host.
It's important not to take things personally when your guests behave inappropriately. When unpleasant surprises happen, try to detach emotionally and remember that you're running a business. This mindset will help you see things differently and deal with unexpected situations smoothly.
Here's a valuable tip: as a homeowner, it's natural that you'll feel attached to your beach rental after spending a lot of money, time, and effort building something great. You can't help but see them as your own house. But remember that your rentals are a tool to bring you money, so it's helpful to think of them more like a product rather than a private home.
Hosting is both an art and a science. If you ever need help with the business of Pensacola Beach Property Management, you can always count on us!
At Pensacola Beach Properties, we take excellent care of beach rentals and develop strategic marketing approaches to boost bookings and revenues.
For more professional tips on how to manage your Pensacola vacation rental in the best way possible, visit our blog section - we love sharing our expertise with like-minded owners.
