Yes, indeed the success of your holiday home rental business will depend on how much time you will be able to put in in running it. So before you even start working on the marketing plan for your holiday home rental business, you must determine how involved you would like to be in the rental process. Renting your vacation home though not a full time job, does requires some level of dedication, effort, and time to succeed.
As the owner, here are some of the tasks involved in your holiday home rental business:
- Advertising your property
- Responding to inquiries
- Updating your availability calendar
- Taking reservations and payments from guests
- Collecting and remitting sales and other related taxes
- Handling guest requests and complaints
- Hiring service providers including housekeepers, caretakers, key-holders, etc.
- Scheduling housekeeping between changeovers
- Managing maintenance issues.
Ideally holiday homes are located in destinations away from the city where the owner resides. As such, shuttling between his residence and his holiday home every time a guest visits, doesn’t make good business sense. There will be occasions when the owner or someone representing the owner, needs to be stationed at the property to take care of certain tasks like passing on the keys or cleaning the house, or be present during emergencies.
Owners must also understand that there are areas which require professional expertise. For instance, when it comes to advertising your property, holiday home rental websites will do a better job than you because they are more competent and have wider exposure to the market. These websites are also more capable of handling traveler inquiries and taking payments on your behalf.
Owing to these issues, most vacation rental homeowners choose to employ a property management company who can effectively take care of most of the tasks on behalf of the owner. However you should only hire a property management company or a caretaker if you don’t have the time or the desire to run your vacation home rental yourself. In a nutshell, for owners there is no right or wrong way to rent one’s holiday home. Your choice to hire a property manager should be determined by your desired level of involvement in the entire holiday home rental business and how much free time you have.
So based on the areas of I would say a minimum of an hour or two daily is undoubtedly a necessity.