New to Short-Term Rental? What Would I be Asking My Property Management Agent?

Because handing your family home over to strangers is slightly different from handing over a set of keys to a tenant. This might not be 'just' an investment property, this might actually be your family home, a home you built many memories together.

When speaking to a property manager agent, your agent can be as involved as you want them to be, usually it's easier to leave the agent to handle most things, and the agent will of course get your permission for purchasing any necessary stock for your guests (tea, coffee for your guests etc), if something minor needs fixing, or if unfortunately something of a priority like an emergency situation. A good agent will ask for permission before anything happens, and then let you know what has happened, and what the invoice for this would be.

Choosing an agent isn't just about asking how much money they think they can make you.

In fact, that might be one of the least important questions.

"Would you treat my house like it's your own?"

This was probably the biggest question for us.

Because this isn't just a property.

It might be your family home? This is something my 1st clients were doing, and wanted to feel comfortable doing so.

If you're handing your property over to an agent, you're effectively saying:

"Here you go. I'm trusting you with something that matters to me."

Something I wanted to do, and will always carry on doing for future clients is the following:

"Honesty is the best policy"

I cannot stand liars, and I like building rapport with people, and if people were trusting me on so many levels, I was open with the following:

1) I was new to this business, but I work closely with a growing community, and amazing mentors, so I never feel I am truly alone doing so.

2) I don't believe in doing a 'sales pitch' and all the BS that comes with that, no I wanted to show my emphasium, and how approachable I was, and the steps I was going to do.

3) I was honest with their property report, I did not fluff the numbers, to make them look so high, to make me stand out. They were realistic numbers on what could be achieved.

"How do you screen your guests?"

This was one of the first things you will want to understand.

Anyone can book a holiday.

But who exactly are you allowing into my house?

I'd want the agent to explain:

• Where bookings come from

• Whether guests are verified

• Whether they use established booking platforms

• How they identify potentially problematic bookings

• Whether they check previous guest reviews

• How they deal with local or last-minute bookings

• Whether they have rules around parties and events

And I'd want a proper answer.

Not:

"Don't worry, we've never had a problem."

Because problems do happen.

"What happens if a guest damages something?"

Damage happens, whether that's done accidental or maliciously. Having a security deposit in place, straight away makes 9/10 guests want to act correctly, in case of losing a hefty deposit, or some of it. The property I manage has CCTV on the front and rear of property, and a Minut device recommended which monitors music levels, how many phones have been detected (aka unauthorised guests, parties etc), cleaners do a thorough inspection, pictures are taken before and after the new guest checks in, and any damage is flagged before & after to make sure someone does not get charged incorrectly.

By upping security, aka the cleaners (as they're the eyes and ears on the ground) this will make a huge difference if you have a good cleaning team!

"What exactly does 'hotel standard cleaning' mean?"

Do not overlook this one, as this genuinely makes or breaks a property. By having a good and useful cleaning team, they can make the property into 'hotel standard clean per turnover'

My clients like the idea of flexibility, and coming back to their property to a very high cleaning spec.

"What happens when I want to come home?"

Owners are always allowed to come back to their property, we always ask that owners give us at least 30-60 days (if possible) to honour bookings we have in the channel manager, as not communicating this early, will then leave a sour taste in the guests mouth if they have to be cancelled, or the other way around, if the agent says "unfortunately not, due to XYZ bookings already in"

"Exactly how much do you charge me?"

This sounds obvious.

It isn't.

Ask for the full picture.

Not just:

"Our management fee is 15% exc VAT" (something the smaller agents can promise)

Ask about:

• Management fees

• Cleaning fees

• Maintenance charges

• Guest communication

• Linen

• Consumables

• Call-out charges

• Emergency repairs

• Replacement items

• Photography

• Listing fees

• Platform fees

• Any additional commissions

Then ask:

"If a guest breaks something costing £200, who pays for it initially and how is it recovered?"

You want to understand where the money flows.

"Who is responsible when something goes wrong?"

This might be my favourite question.

Because everything sounds wonderful when everything is going well.

Guests arrive.

Guests leave.

The cleaner does a great job.

Money appears in the bank.

Lovely.

But what happens at 11.30pm on a Sunday when the heating stops working?

Or there's a leak?

Or a guest locks themselves out?

Or the washing machine decides it has had enough of life?

Who deals with it?

And do I get a phone call?

Or do you?

If you're living abroad, this becomes even more important.

"I don't want to be sitting in Spain trying to find an emergency plumber in Essex while simultaneously trying to work out which guest has the problem.

That's precisely what I'm paying an agent to manage."

Make sure you have this negotiated before choosing who to work with.

And here's the question I'd ask at the end

After all the technical questions, fees, deposits, cleaning and booking systems, I'd probably ask something much simpler:

"If this was your family home, what would you be asking me right now?"

That answer could tell you a lot.

Because the right agent shouldn't just be trying to convince you to sign up.

They should be helping you understand what you're actually getting into.

A good agent will be open about their experience, their support network and how they would handle things such as guest screening, damage and cleaning.

And how you build all this is simply one word.

Trust.

We don't need just a property manager. We need someone we trust with our home.

That's probably the biggest lesson I've taken from this process so far.

If you're considering putting your own home into short-term rental, don't just ask:

"How much can you make me?"

Ask:

"How are you going to look after my house?"

Ask about the awkward stuff.

Ask what happens when guests cause damage.

Ask what happens when rules are broken.

Ask how quickly damage is discovered.

Ask who cleans.

Ask who checks.

Ask who pays.

Ask what happens when you want your house back.

And ask what happens when things go wrong.

Because when you're dealing with an investment property, it's one thing.

When you're dealing with your family home, it's personal.

And personally, I'd rather have an agent who says, "Actually, that's something we need to think about," than one who says "Don't worry, it'll be fine."

After all, "it'll be fine" isn't much of a property management strategy.

ABOUT THE AUTHOR

Adam Daniels-Smith is a Property Manager Agent, in the short-term rental space, whether this be through a trusted online travel agent, or directly booked through this website.

Genuine & Respectful, Adam delivers a personal, yet fun approach when dealing with his guests, or clients from the landlord side of things. To learn more click here