Five signs you need the help of a reputable airbnb property management business

Airbnb property management in Edinburgh can be a lucrative business. A very lucrative business indeed. Whether you’re new to airbnb, are still thinking about getting involved, or an experienced investor with a portfolio of rental properties, chances are you’ll still need a little help from time to time. Like any other job there will be days when you can feel that it’s all too much, but by contrast, there are also more periods where it’s very definitely worthwhile. At Elite Property Management we can help ensure that you feel rewarded and satisfied all of the time. After all that’s our job, and we take great pleasure from doing it. In this latest blog we look at how you can better understand some of the day to day challenges landlords face and overcome them to ensure airbnb property management works out to your advantage.

We fully understand your airbnb property management needs

What’s right for you very much depends on your individual circumstances. We look at five sure-tell-tale signs that suggest you might need the help of a professional property management company 

1. Your phone rings off the hook

As a property landlord, you pretty much need to be available 24 hours a day, seven days a week. Put simply, it goes with the territory. It doesn’t matter if you’re a long term let landlord or someone managing short term and holiday lets. on any given day, you could be dealing with telephone calls from prospective tenants booking viewings or receiving from sitting tenants about repairs or inspections; agreeing key handovers or phoning around to find quality cleaners for a last-minute booking; chasing up tradesmen or arranging safety certification. Being a landlord requires excellent communication and organisational skills and moreover the time to put them into practice. And then things can of course go wrong. For example you might need to deal with middle-of-the-night emergency calls from tenants or neighbours.

And you must remember that this is not your day job. If you find yourself wincing when the phone rings, it’s probably time to consider using a property management company. They’re very much available around the clock to - when you can’t always be - to professionally handle any issues that arise, leaving you free to get on with all the other demands in your life.

2. Your landlord duties are taking up far too much of your time

It’s true that some people thrive in their role as landlords, enjoying the levels of multi-tasking required and the potential juggling act needed to keep everything running smoothly. For others, the constant demands can feel like too much, especially if they begin to impact on your primary work or family life. In addition, you need to factor in any travel time to your properties, which by nature might be disparate, and if you have multiple properties then all your responsibilities will be multiplied. If you feel that you spend most of the day, carrying out work in your properties, booking cleaners or rolling up your sleeves to do things yourself, arranging maintenance or repairs, trying to pin down a reputable tradesman, arranging and accompanying viewings, then perhaps your duties as a landlord are becoming all-consuming. This is a definite sign that you need to work with a professional property manager.

3. You’ve higher than expected vacant periods

Vacant periods tend to be expensive. Whilst a week here or there between long term lets is acceptable and allows for routine maintenance, deep cleaning or any other maintenance work, longer and more numerous periods of vacancy are just simply costing you money. If you’re dealing with this on a frequent basis and you’re not able to identify any key causes, you’re likely to need a professional airbnb property manager to get you back on track. They’ll ensure that any property is marketed properly, at the correct price, using reputable property search portals, and directly marketed towards desired short term let or long term residential tenants. A property manager screens prospective tenants very quickly and effectively, increasing repeat short term let bookings and ensuring your property is cared for, for the duration of any let.

4. You’re struggling to get paid on time

Chasing for rental payments and dealing with itinerant tenants can be time-consuming and costly, in particular if there is any knock-on effect on your cash flow. If you’re a short term property let landlord, then chances are your guests pay their rent upfront – but as a long term let landlord, you still need to manage and handle deposits. Long term let landlords take deposits and transfer them into a government-approved tenant deposit scheme. If you’re struggling to get rents paid on time, and stressed about this it’s is a sure-fire indicator that you need a professional property manager.  Often, just having to deal with a professional third party can influence a tenant’s behaviour – but you can be confident that your property manager will be skilled in handling any landlord-tenant conflict and will recognise if a situation requires legal involvement.

5. You’re confused about property legislation

Do you fully understand the terms of a Private Residential Tenancy? Do you need to be registered as a private landlord? How often you can legally raise rent? Are you up to speed with the potential change in law governing short term lets? That’s quite a lot to take in and there’s a lot of legislation governing the private rental sector in Scotland, This is particularly important for landlords based elsewhere or for those with multiple properties across several locations. If you’re operating illegally – even if by mistake rather than by design -  you could find yourself in legal trouble. IAn accredited lettings agent will work within all current legislation and use current best practice to ensure that you, your property and your tenants are all compliant.

It has to be Elite for all your property management needs

We can take care of all your airbnb property management needs from your property listing and price, key exchange, cleaning, laundry, maintenance and much much more, so you can sit back and relax whilst your rental income grows, and your guests go home happy with the service they receive. So, what are you waiting for? If you’ve got the property, we’ve got the airbnb property management expertise to get things off the ground for you, allowing you to fully enjoy the financial benefits. Contact us today to find out more.