Vacation Rental Mastery Series Part 3: Our Onboarding Process
Welcome back to Part 3 of our series: Rental Property Investment and Ownership. If you missed the earlier posts, make sure you don't miss the first two pieces in the series, Part 1: State of the Rental Market and Part 2: Maximize Your Rental Income. We've been exploring the work, care, and intention that goes into owning an investment property. The good news is, when you work with an experienced Property Management Company like Benchmark Management
Benchmark Management: Our Emerald Coast Property Management Onboarding Process
When people are beginning the process of seeking a Property Manager for their home, many don’t quite know where to begin. If that's you, don't worry. We work with plenty of first time investment owners, and are always here to answer any questions that should arise! Come along now as we walk through the Property Management onboarding process at Benchmark Management!
1. Initial Meeting
First, we like to open the discussion about your property. Whether we physically walk the property or review photos, we need to get eyes on the unit and its location to accurately assess demand. During this stage, we’ll discuss our services, offerings, contract, and fee structure. It’s an exploratory phase for both of us, and communication is key to starting a successful partnership. Don’t hesitate to ask any questions you have!
2. Onboarding
The next step is onboarding, which begins with a signed agreement. From there, we introduce you to your Property Manager and their team. We’ll continue discussing your goals and any changes needed to meet them. This includes taking an inventory of your home to ensure it has all the required items for renters. We may suggest additional items, and together, we’ll set a rate structure for your property.
3. Maintenance Walk Through
Our Maintenance Team will walk through your home to familiarize themselves with its unique aspects. They’ll make suggestions for immediate attention and for future improvements, working with you to ensure your home is rental-ready.
4. Listing Preparation
While the Maintenance, Property Management, and Rates teams prepare the home, our Marketing Team is hard at work. We’ll schedule professional photography and craft compelling copy for your listing. Once everything is in place, we’ll publish your property on the leading vacation rental sites and on benchmark30a.com. Through our own marketing strategy, we secure nearly 70% direct bookings.
5. Welcome Guests
From here, we take care of everything! Sit back and relax while we handle guest marketing, cleaning, revenue collection, taxes, reservations, 24/7 emergency services, and maintenance. You can be as involved or hands-off as you prefer. Some owners like to stay updated with their Property Manager, while others prefer a more passive role.
Choose Benchmark Management for Your Property Management Services!
Benchmark Management is a full-service management company, and your vacation property is our passion. We hope this outline of our onboarding process has helped you in your search for the perfect rental management company. This is, of course, a simplified version of what goes into choosing a partner in property management. If you’re interested in discussing more, feel free to contact us. We also explore the process of choosing a Property Manager in the last installment of our Property Management Series: Part 4: Finding the Right Property Manager.
If you have any questions or need advice, we are here to help. Interested in a projection? We can provide one — just contact us at listwithus@benchmark30a.com, and we’ll give you a detailed projection based on our portfolio and industry data from 30A, Destin, and Panama City Beach. Check out our property management page for a more detailed view of our services.