Choosing a property management company can be one of the most difficult yet rewarding decisions you will make regarding your rental property. After this decision is made, you should have a lot less stress and be able to enjoy owning rental property and knowing that a competent company is handling the day-to-day details for you.
At Stony Brook Cabins, we think there are 7 important questions you should be asking to help you decide on the right property management company. These are our suggestions:
1. How much experience does the Property Management Company Have?
It's always best to go with a company that has a long-standing history of success in the property management industry. The years of experience will enable them to provide you with the best chance for success. We enjoy the travel and tourism industry and have dedicated ourselves to making sure each of our rental properties succeeds in the Smoky Mountain market. Stony Brook Cabins has been managing rental properties for nearly three decades.
2. What kind of reputation does the company have?
Over 80% of travelers look at reviews before making a reservation. Positive reviews are critical to ensure repeat guests, so find out what guests are saying about the company. You might also consider asking for references from a few of their current homeowners. At Stony Brook Cabins (at the time of this publication), we have over 1,000 reviews on Google with a 4.8-star average rating. We think that says a lot. Also, most of our homeowners are happy to serve as a reference.
3. Is the company up to date on marketing trends?
When you're looking for a Gatlinburg/Pigeon Forge property management company, you definitely want a company that keeps up with the latest trends in marketing so your rental receives the maximum exposure possible. Ask about their marketing! At Stony Brook Cabins, we understand it is extremely important to stay on top of the changing industry. For this reason, we spend tens of thousands of dollars on marketing each year. We work closely with a team of experts in vacation rental marketing and revenue management to ensure each of our units has the highest occupancy and revenue all year long.
One aspect of having a vacation rental is being sure the minor maintenance issues that arise are taken care of in a timely manner. One benefit of having a property management company is you don't have to live nearby and you don't have to handle maintenance issues. You also don't have to manage any of the phone calls or emails about minor maintenance issues that are reported by the guests. The average self-managed property owner spends over 12 weeks per year managing their vacation rental, dealing with guests, and booking reservations. Our goal is to manage your property so well that you don't even have to think about it. We guarantee your rental is well taken care of throughout the year and all issues are handled immediately.
5. How does the property management company structure their fees?
It is important to understand the fee structure of your property management company, and you should choose a company that is upfront and open about their fees. At Stony Brook Cabins, we are 100% transparent with each of our property owners and guests. Typically, we charge fewer fees to our owners than most companies in the area. We were founded as a vacation rental company, not a maintenance company. We are here to make money on reservations; we don't use the maintenance on your rental as a profit center. And we are always glad to provide you with copies of bills if needed.
6. ARE there localS involved in the management of the company?
Would you like to be able to call and get quickly to the "boss" to resolve an issue or request special attention? Are you frustrated leaving messages and waiting for "someone" to return your calls? Our team is very hands-on and in the office on a daily basis. They are always available to return a call promptly. Your questions will be answered by the person who is able to get it done and get it done quickly.
7. Are there solid accounting services available?
Wouldn't it be nice to work with a property management group that handles all of the accounting paperwork for you, especially when tax time rolls around? With reliable accounting service, you can relax knowing all of your accounting information will be provided for you in a timely manner and without any confusion. At Stony Brook Cabins, your account is always available to you. We don't hide any charges from our property owners.
If you're looking for more information to help you choose the right property management company for your Smoky Mountain cabin rental, give us a call today. We will be more than happy to help you and answer any questions you may have.