How to Work with a Property Management Company – A Guide for Lido Key Vacation Rental Owners

You’ve been thinking it over for a while, and now you are seriously considering hiring a property management company for your Lido Key vacation rental. Handling rentals on your own is a huge task. It is especially daunting if this is your first go at running a vacation rental, but it is still just as scary and troublesome if you’ve had bad run-ins with other property management companies in the past.

Doing it yourself means you have to take high-quality photos for your website, go about creating said website, find ways to promote your property, draft and edit listings for each rental, take on guests, and oversee the physical management of the properties themselves. And, let’s face it, who has time for that?

Hiring the right Lido Key property managers is crucial for your success, and they can take a lot of the burden from your shoulders. Of course, learning how to work with a property management team takes some time as well as knowledge of how they operate.

Before you sign on the dotted line, though, you need to know a few things about what it means to work with a property management company here in lovely Lido Key.

Here are answers to some frequently asked questions, and what makes us stand out from the crowd.

We Are A Local Property Management Company

The first quality you should look for in a property manager is their familiarity with vacation rental performance in Lido Key. They need to have a good grasp on the local market. They should know when slow and busy seasons are, the most popular types of properties in Lido Key, what competitors’ rates are, and how laws and trends play into Lido Key’s rental market.

For example, they should be aware of how a 2018 ruling on a long-term beach revitalization project is shaping Lido Key. These kinds of decisions shape the market for Lido Key’s rentals, and a good rental property management team will know that.

We are true locals. There are many national companies that manage properties on the island, but they are not hands-on. If there is an issue, they don’t have staff that can quickly check with the guest. Our team is down the street, which means we can efficiently work towards solutions should problems arise with the guest or the property.

Our staff know the area and can easily answer questions from guests about best restaurants, closest grocery store, and things to do. There is always a local person there to assist you or the guest.

Affording the Fees and Agreeing to Contract Terms

A vacation rental property management team could give you a fee that ranges from 25-50% of the income you make from your rental. Paying half of what you make to a management team probably unnerves you. Yes, it is high, and in some areas, these rates go even higher. Yikes!

The right Lido Key rental company will go over your income, and income and occupancy goals with you in order to help create a plan of action that best suits you and your family.

Our management fee is 20% and that includes credit card fees, accounting services, payment of rental-related taxes, marketing, distribution to travel sites, access to a full-service maintenance team, and more. We send payments to homeowners on the 15th of every month based on the prior month’s revenue and expenses. Our contracts don’t lock owners into a specific term, which means you can leave whenever you want. We do require that you honor the rentals on the books at your home, or cover any expenses associated with moving the guest to a comparable and acceptable home. If you want to learn more, contact us to ask us questions.

We see ourselves as your partners. We are in this together, and we do what we can to make you feel confident about working with us.

Marketing Your Property

We work with a marketing agency to promote rentals through various marketing channels including paid search, social media (including Facebook, Instagram, and Pinterest), and email marketing.

Through content marketing and search engine optimizations, we work to increase the rankings of our website to gain traffic to our custom-built website. More viewers for your rental home means more possible bookings.

We strive for 5-star guest reviews and manage business listings on Google and Bing. Through all of these efforts, we have steady year-over-year growth in ROI and revenue.

rental home in lido key

Guest Relationship Management

You cannot be on-site right away to see how guests have left your property. Did they trash the place? Was it spotless? Is there something that just needs to be fixed? All damage – whether it appears intentional or accidental – needs to be thoroughly documented by the property management team and reported directly to you in a timely fashion.

One of our main responsibilities is to make sure the guests are comfortable. A property manager will be there to answer their questions and inspect homes before and after each reservation. Think of them as quality control.

Our team is available 365 days a year with after-hours staff for emergencies. We also offer services such as full-service house-keeping with a professional linen program. See additional details about our services below.

List Your Property

Putting your trust in the right property management company can be tough, especially if you’ve already been let down by one. However, you can rest secure knowing that Lido Key Vacations cares about you and your Lido Key rental property.

Our Policies and Services

A smart and successful property management company should have their policies laid out in plain words on their website for you to read. You will have questions about:

How do we handle security?

We use keyless entry pads and each guest gets a unique door code that they enter. After they leave, the pads are reset and the next guest gets a different code. There are security cameras at the entries, and we limit the number of cars allowed at all of our rental homes, and strictly enforce this, as to not disturb our neighboring properties.

What is smart home technology?

We install smart home technology in each rental. These include locks, thermostats and noise monitors that help you peace of mind and keep energy bills low.

Are we good neighbors?

We think so! We understand that some neighbors can be concerned, but we include NoiseAware technology inside and outside each home to minimize disturbances. We have dedicated property managers that work to make sure guests understand and respect the rules of the community. We even clean the trash cans!

Do we have a trash collection company that handles pick-up?

Our staff handles taking the bins to the street and returning them to the homes.

How do we handle maintenance?

Handling maintenance should be a big deal for a property management company. We work with an amazing group of locals. They are able to address everything from replacing a loosened tile to inspecting all in-home appliances.

Get More Information

Choosing a property management company is a big decision. Learn more about our services, or call us directly at 941-212-0396.