With the housing market’s recent surge, you may be more interested in real estate investments than ever.
Long-term rentals with finicky tenants may not be the route for you, but scooping up a vacation home in your favorite locale could be the perfect way to dip your toes into the market. However, if you don’t live close to the property you want to buy, you may have trouble managing and maintaining your property.
Luckily, there are solutions that make it easier than ever to manage your short-term rentals and Airbnb listings remotely. In fact, investing in short-term rental properties is one of the top small business ideas to start right now!
Check out the following options for updating your property’s features, simplifying guest interactions, monitoring your rental’s performance, and managing upkeep from the comfort of your primary home.
Invest in Smart Appliances & Home Automation
While you may not have considered purchasing expensive tech for your rental property, installing some smart products could really change the way your rental process works. For instance, you could use a video doorbell to keep an eye on who enters your property without having to stop in. This could also be a great investment for periods when you have no guests, ensuring that no one takes advantage of your empty vacation home or visits without your knowledge.
Further, you can invest in smart appliances that help lower your utility costs. While you can’t control guests’ behavior, you can try to get ahead of any excessive use by choosing the right products. Try switching out your large appliances for energy-efficient options and install a smart thermostat that allows you to control heat and air settings remotely.
Try Contactless Guest Interactions
In 2021, we’re rethinking all kinds of interactions to find convenient, contactless solutions. You could invest in another tech solution—a smart keypad lock—to streamline guest check-in and keep your property secure. Rather than having to meet your guests upon their arrival, you could simply send them the key code and let them enter on their own.
This way, you won’t have to worry about keys getting lost, stolen, or copied. You can create new key codes for each guest and delete them after their stay, effectively checking them out of your property without any risks.
Monitor Your Property’s Performance
Nowadays, you don’t even have to research your local market yourself to determine how your property is doing. You can find online providers that offer Airbnb statistics for your market and get an idea of how your income and booking rates compare to your local competitors.
Accessing these analytics can help you see potential problems with your rental plans and make necessary changes, like adjusting your rates or trying new advertising methods. If you stay on top of your rental’s performance, you can make sure that you’re getting the most out of your investment and outcompeting other hosts in your area.
Hire Out for Maintenance
The final issue to resolve before you can manage your rental property remotely is to hire people to care for your property while you’re away. Instead of having to visit your property to clean, restock necessities, and repair anything in your home between guests, you could hire professionals to provide those services.
Most property owners hire a regular cleaning service and many others provide guests with contact information for other hired professionals just in case something breaks or needs to be serviced during their stay.
While this may seem like an expense you could easily cut by doing some DIY work, property owners who live far from their rentals can’t really avoid hiring out. Additionally, these services can make your rental appear more professional and polished to guests—adding even more incentive to rebook your property or recommend it to a friend.
With these convenient solutions, you can make money on your rental properties without any heavy lifting on your end. It’s never been easier to streamline your property management and enjoy your investment.
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