Who says you can't live in a beach or ski resort AND make a great living? You can... by managing vacation rental properties for the property owners.
The secret of success is making your vocation your vacation. - Mark Twain
Most properties (homes, condos, townhomes, villas) in resort areas like beaches and ski resorts are 2nd homes owned by over 6.4 million individuals. The majority of these people only use their property for personal use for under 30 days a year. For the remaining 335 days, most owners then rent their properties short-term (by the night or week) in order to produce income, often to cover the expensive mortgage they took out to buy their luxurious resort property.
The Property Management Opportunity:
By providing services to these home owners (and to their guests) including renting their property and ensuring that it is well maintained and secure, property managers help owners earn more income. To perform this role, a vacation rental property manager typically gets between 30-45% of the rental income. Vacation rental property managers typically do not OWN the properties they rent; they simply rent and care for other people’s property. In short, they generate income off of the investments of others, instead of having to risk investing in their own rental properties. And if you are already an owner, wouldn’t it be nice to earn income off a property where someone else is responsible for the mortgage?
Vacation rentals (short-term lodging in privately owned residences at vacation destinations) is one of the fastest growing segments of the $700 billion travel industry, generating $18 billion/year. Americans planned 328 million leisure trips this summer (up significantly from last summer) and a survey by Zonder shows that rentals are increasing, even as the economy slows. This is due to the comparatively lower cost of vacation rental holidays and the higher-income demographic of the beach or ski vacation guest!
The demographic of the 2nd homeowner is an attractive one to have as a customer base. These are people (maybe you) with the means to own a 2nd home; they value a high level of service and dependability and are willing to pay handsomely for it. However there are very few companies that property owners can confidently turn to to manage their vacation rental properties on their behalf.
Why aren’t more people jumping into the vacation rental property management business?
- Developing the systems to track all of the details can be a technically daunting, expensive and difficult. You have to worry about guest payments, owner accounts and launching a website to market the properties. This can requiring many months of investment time before you can start earning real income.
- Without a proven track record, it is difficult to convince owners you have the means to successfully rent their property.
- Just having properties to rent doesn't mean people will rent them... and when you don't rent them, you don't get paid. Marketing properties to rent them at a profitable rate can be difficult and requires experience and the use of a multiple-channel marketing strategy (driving traffic to your own internet site, advertising on 100's of other internet vacation rental sites such as vrbo.com, internet travel agents like expedia.com, print ads, repeat business, etc). ..
How SkyRun Services Can Help
SkyRun Vacation Rentals: (www.SkyRun.com) SkyRun started as a 100 property operation in Keystone Resort, Colorado in 2002 and has a proven, 7 year track record of success in marketing, internet and back-office systems. These services are now available to any property manager. We offer over 20 different services organized into 5 modules which cover every aspect of property management so you can focus just on the parts that make sense for you to do and leverage our services for the rest.
We can work with you in two ways. We can provide any of our services a la carte to your established or new property management company, or you can buy your own terriroty and open your own SkyRun-branded location using these same proven tools and process we use and become part of the SkyRun network. Choose which you are interested in below.