Hundreds of thousands of vacation homeowners manage their own rentals. The majority of them use some type of platform, such as Airbnb, to market and administer their bookings. While there are a lot of ways to stay involved in the process of dealing with guest inquiries, much of the booking process itself is now automated; you’ll get a notification when a guest books, and most communication will take place within your booking platform. Payment is transferred via this website, and sometimes even the lodging taxes are taken care of and remitted to the appropriate authority.
However, self-management is more than simply keeping pace with a booking website. If you’re renting out your ski-in/ski-out condo, you’ll need to spend some time diversifying your plan. You don’t want to put all your eggs in one basket. This is where self-management can become more challenging; you’ll need to stay on the ball with each process you take hold of. Here are a few key responsibilities you’ll need to figure out while self-managing your vacation condo.
Coordinate your listings and ensure they’re correct, up-to-date, and consistent.
Update your website and manage reservations, calendars, and payment processing.
Utilize social media to get your property out regularly. This could mean developing anything from a Facebook account to a Twitter account wherein you announce booking availability.
Work with suppliers, such as cleaners, maintenance providers, and third-party providers who many manage the home in your absence. If you plan to take this on yourself, you’ll need to allot the appropriate amount of time to complete the tasks.
Remarket to guests who may have booked your home via a third-party site. You’ll want them to come directly to you next time, as it will save you money.
Manage your taxes. Locations have lodging tax requirements. Figure out how to do yours and to whom they should be remitted.