Time to Take Stock of Your Profits from Summer Rental Season

As summer comes to an end, now is the perfect time to take stock of your profits and vacancy record. With the return to vacation post-COVID, the rental season was at an all-time high, which means your vacancy rate should have been at an all-time low. If you didn’t get a full calendar, how much of it could be due to your Charleston property management company? These are areas to consider where they could have dropped the ball.

Internet Presence

Never before have professional images and good copy been more important. The best way to keep your rental full is by presenting it in the best light. If you haven’t had your images and marketing content updated lately, it can make your property look aged, even if it is not. Before the holiday rental market is in full swing, consider hiring a professional photographer to capture your rental and update some of the decor to be more competitive.

Cost-Competitive

It’s a hard line to cross, trying to get the highest rental price for peak season while not charging so much you are out of the running. The costs of rentals and hotel accommodations have skyrocketed. But you want to keep your rental costs low enough that you can keep your calendar full. It takes an experienced Charleston property management company to know how to reach that happy medium where you get the most rentals and fewest vacancies.

Maintenance and Repair

One thing that has been a challenge post-pandemic is finding materials and labor for things like maintenance and repairs. Things seem to be stuck in the supply chain. Even if you can find someone to do the labor, the cost of materials is high and they are hard to get. If your rental has major issues, that makes a poor impression on rental guests. Even minor repairs make a difference, so you have to bite the bullet and pay for things to look good or you risk bad reviews and ratings, which can put a severe dent in your rental’s competitiveness.

Communication

Yes, it has been a very busy rental summer, but that doesn’t mean it is okay for your property management group not to get back to renters who have questions or concerns. If your company’s communication was lacking, that can lead to poor reviews that reflect badly on you. Make sure that you have a property management group who understands the importance of customer service and being responsive to your renter’s needs.

Cleanliness

Another issue now that the pandemic is over is that things like cleanliness will probably forever be more scrutinized. It is no longer enough to do a quick run-through. People are wary of germs and contagion. If your rental has been left in subpar condition, that is a huge no-no. Make sure not just that your property management group is responsive, but that they also have the right subcontractors, like cleaners who uphold the same high standards.

As we head into fall and the kids return to school, the summer rental season might be over, but we are anticipating a busy fall and holiday travel season. It is a good idea to regroup and evaluate how well your summer rental did. If you aren’t entirely thrilled with the job that your current property management group has done, it might be time to switch to Sea Turtle Property Management Group. We are seasoned professionals who will get it right – right from the start. Contact us today! to discuss how we can get you maximum rental income and minimum vacancy rates.

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