short-term rentals

Benefits of Using Short-Term Rental Management Companies

Are you an investor in Brentwood or Franklin, Tennessee, looking to maximize your rental property returns? If so, you may want to consider short-term rentals like those you see on Airbnb or Vrbo.

Short-term rentals can be a great way to boost your rental income. You can charge more per day than traditional long-term leases, and you have the flexibility to rent out your property for as little or as much as you want. And if you don’t want to keep up with the rental property management yourself, you can hire short-term rental management companies to look after the property for you.

Short-term rentals offer an increased opportunity for revenue generation when compared to traditional long-term rentals. You can charge higher nightly rates for short-term rentals, which means you can earn more income per month. This is because people looking for a short-term rental are usually vacationers ready to spend some extra money for a nice experience or businessmen or women in need of temporary housing on their employer’s dime.

The higher occupancy rates of short-term rentals compared to long-term rentals can increase income as well, since families and friend groups tend to be comfortable together in a smaller space for a temporary trip. It’s perfectly normal to charge additional fees for additional guests since the more guests there are, the more beds will be used, and the more cleanup there will be when they leave.

With short-term rentals, you have the flexibility to rent out your property as frequently as you would like. This type of rental investment is perfect for investors who want the freedom to use their property as they please and let it bring in extra money whenever they’re away.

You can also adjust your prices depending on the season. For example, you may want to charge more during holidays or peak seasons (if your rental investment is located in Brentwood or Franklin, Tennessee, this would be spring break and summer break), and then lower your rates during the off-season. This allows you to maximize your profits and keep your listing competitive. With the ability to adjust your listing to meet changing demands, you can always ensure you’re getting the most out of your property.

There are several benefits to short-term rentals when it comes to maintenance. Perhaps the most obvious benefit is that there tends to be less wear and tear on the property overall. This is because short-term tenants are typically only staying for a few days or weeks as opposed to months or years, so things like carpets and furniture may last much longer in a short-term rental property.

Additionally, short-term rentals can be a great way to offset larger maintenance costs. Since you’ll be charging more per night, you’ll be able to invest that money in things like new appliances or a new roof, which will in turn raise the value of the property and the amount short-term tenants will be willing to pay.

Of course, no rental property is completely maintenance-free. Even the best-kept properties will eventually need repairs or updates. And that’s where a short-term rental management company can help.

If you’re looking for a way to keep your short-term rental filled on a consistent basis, using a site like Vrbo or Airbnb can be really useful for gaining exposure. Both of these sites offer a wide range of listing options that can help you reach a wider audience, and they also provide tools and resources that can make the booking and rental process easier.

In addition, using these sites can help you build a reputation as a reliable and trustworthy renter through reviews and a history of happy renters, which can attract even more potential guests. So if you’re looking for a way to get more exposure and bookings for your rental, using a site like Vrbo or Airbnb can be a great option, even though they will charge a percentage in commission.

Making your investment, our investment.

Have you invested in a second home and are thinking about renting it on a short-term basis? Great! Sit back, relax, and think about this no further because we are equipped to handle all your needs. From start to finish, Hinge will get you set up and ready to make a return on your investment.

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Get the Most From Your Short-Term Rental Investment

As we’ve shown so far, investing money into short-term rental properties can be a great way to make extra income. But it’s important to make sure you’re getting the most out of your property. Here are some tips for doing just that.

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Research the Area

When you’re looking for a short-term rental property to invest in, it’s important to look at the local market conditions to see what kind of demand there is for short-term rentals. It’s also a good idea to look at the average rent prices in the area and compare them to other areas. This will help you get an idea of how much you can expect to make from your investment.

Another important factor to consider is the location of the property. You’ll want to make sure it’s in a good location with convenient access to a grocery store and restaurants for guests. Proximity to a pool, fishing lake, nature park, zoo, or other points of interest are additional bonuses that will increase the value of your property for many short-term tenants.

Once you’ve done your research, you’ll be in a better position to make a decision about whether or not this is the right area for your short-term rental property investment. If you’re confident in the market and believe you can make a good return on your investment, then go for it!

Find the Ideal Property

Once you’ve decided to invest in a short-term rental property, there are a few things you can do to make the most of your rental investment. First, you’ll want to make sure you’re pricing your rental correctly. You’ll need to cover your costs, so be sure to factor in things like mortgage payments, taxes, online listing fees, insurance, and repairs. However, you also don’t want to price yourself out of the market. Be sure to research average rent prices in the area so you can price your rental competitively.

Another thing to keep in mind is that you’ll need to market your rental property effectively. You’ll want to create a listing that accurately represents your rental and what guests can expect. Be sure your property will look great in photos and that you’ll have plenty of great features to highlight in the description.

Additionally, if you live far away from the property or simply don’t want to spend a lot of time taking care of it yourself, check into local short-term rental management companies, such as Hinge Development and Reality in the Brentwood and Franklin, Tennessee area, that could take care of all your rental property management for you and save you time.

Promote Your Rental Effectively

There’s no question that in today’s market, it’s more important than ever to make sure your short-term rental property is seen by potential renters, whether you live in Brentwood, Franklin, or anywhere, for that matter. The best way to do this is to list your property on as many vacation rental sites as possible.

This may seem like a daunting task, but with a little bit of effort, you can get your property listed on all the major vacation rental sites. Here’s a quick rundown of where to list your short-term rental property:

Airbnb: Airbnb is one of the most popular vacation rental sites out there, and for good reason. They offer a great platform for renters to find properties, and they have a wide variety of listings to choose from.

VRBO: VRBO is a vacation rental site that specializes in offering properties for rent by owner. This can be a great option if you’re looking to list your property on a site that is geared specifically toward vacation rental properties.

TripAdvisor: TripAdvisor is a popular travel site that also offers a vacation rental listing service. They have a wide variety of listings to choose from, and their platform is easy to use.

By listing your property on as many of these kinds of sites as possible, you’ll increase your chances of getting seen by potential renters and give yourself the best chance of keeping your short-term rental property filled. Don’t worry if keeping up with all the listings sounds overwhelming – that’s another thing a short-term rental management company can do for you.

Keep Tenants Happy

The importance of keeping tenants happy in a short-term rental property cannot be overstated. Not only will happy tenants be more likely to rent from you again, but they will also take better care of your property and be more courteous to the neighbors. Here are some tips on how to keep your tenants happy:

First and foremost, be responsive to their needs. If something breaks, fix it ASAP. If they have a question or concern, address it promptly. This shows you care about their comfort and that you’re invested in maintaining a good relationship.
Offer amenities that will make their stay more enjoyable. Things like Wi-Fi, cable TV, and a well-equipped kitchen can go a long way in making your tenants happy.
Keep the property clean and well-maintained. This includes regular trash removal, lawn care, and general upkeep. Tenants will appreciate a clean and comfortable space to call home during their stay.

Hire a Short Term Rental Management Company

A short-term rental management company can handle the maintenance side of things for you so you don’t have to. You can save time by using an experienced company and taking advantage of their streamlined processes and efficiency.

By following these tips, you will have done everything in your power to ensure that your tenants have a happy and enjoyable stay at your short-term rental property.

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We’re ready when you are! Let us provide Short-Term Rental services for you.

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Property Management

We will handle the permit process, account set up, and make recommendations based on the current market. Our accounting team will handle all of the bookkeeping, including paying applicable local and government taxes, generating monthly reports for you, and prepping your tax documents each year.

Maintenance

Our in-house maintenance team is available 24/7 through our maintenance emergency line. We will be able to respond to guest emergencies and schedule routine maintenance checks to ensure your investment stays top quality. We always treat your investments as they are our own, and you can feel safe knowing that we are a fully licensed and insured general contractor in the state of Tennessee!

Professional Cleaning

One of the essential aspects of running a short term rental is the cleanliness of the property. Our professional cleaning crew is trained to thoroughly clean and turn the property for the next expected guest. To us, it’s all in the details, and that ends with the cleaning.

Concierge

Our team has a vast knowledge of the city’s best go-to spots and attractions as a local business. We would love nothing more than to make recommendations based on the type of stay you are trying to have.

Short-Term Rental FAQs

Are you feeling excited about all the potential benefits of investing in short-term rental property in the Brentwood or Franklin, Tennessee area? Here are answers to the questions that will probably run through your head next:

What Are Short-Term Rentals?

A short-term rental is a property that is rented out for a short period of time, typically 30 days or less. Short-term rentals are often located in popular tourist destinations, which makes them a popular option for travelers.

Short-term rentals are often managed by short-term rental management companies, who handle the day-to-day tasks of renting out the property, such as marketing, cleaning, and maintenance.

How Can I Make My Short-Term Rental Stand Out?

When it comes to renting out your property, whether it’s for a month or a year, you want to make sure it stands out from the rest. After all, there are plenty of properties on the market and you want yours to be the one potential renters remember. So how can you make your short-term rental stand out?

Here are a few tips:

Highlight the unique features of your property

Whether it’s a unique layout, an amazing view, or proximity to popular attractions, make sure to highlight the features that make your property special in the description. This will help your listing be found by the people who are looking for those types of features or nearby attractions. It will also help your listing stand out in renters’ minds when they’re considering their options and give them reasons to choose your property over your competition.

Use plenty of high-quality photography for your listing

They say a picture is worth a thousand words, and for good reason. Show off all those unique features in your description with gorgeous photos to drive home how perfect your property is for potential short-term tenants. Good photography could make your property stand out from the competition.

Respond quickly to inquiries

When potential renters reach out, be sure to respond quickly. This shows you’re attentive and organized, and it will help your property stand out from those that are slow to reply.

Use a short-term rental management company

There are plenty of companies that specialize in managing short-term rentals. This can take a lot of the work off of your hands, from finding renters to handling maintenance and repairs. And, because they’re professionals, they know how to make your rental property stand out from the rest.

Do I need a permit to operate a short-term rental?

The answer to this question depends on several factors, including the location of the rental property and the regulations in place in that jurisdiction. Permits are not always required, but it’s best to find out sooner rather than later.

If you are unsure whether or not a permit is required, the best course of action is to check with your local zoning or planning department. They will be able to tell you what the requirements are in your specific area. In some cases, short-term rental management companies may be able to help obtain the necessary permits and licenses.

Finally, it’s important to note that even if a permit is not required, there may still be rules and regulations in place that govern short-term rentals, such as limits on the number of days that a rental can be used or on the number of people who can stay in the rental at one time. Be sure to check with your local authorities to learn about any such restrictions before renting out your property.

What are the requirements for operating a short-term rental?

If you’re thinking of turning your home into a short-term rental, there are a few things to do that will help you operate your short-term rental successfully. Be sure to check your local laws and regulations before getting started, and get insurance for your rental property. Even if you already have homeowner’s insurance on the property you want to rent, you will likely still need insurance specific to renting it out as well.

You’ll also need to choose the right platform to list your rental on and screen your guests carefully. Finally, be sure to set clear rules and expectations for their stay. By following these requirements, you can operate your short-term rental successfully.

Are short-term rental management companies a good option?

If you’re looking for a way to begin investing in short-term rental properties and you feel a little overwhelmed by the number of things to do to ensure the best chance of success, consider hiring a short-term rental management company.

Rental property management companies that specialize in short-term rentals have the experience and knowledge necessary to maximize your revenue potential. They know how to market your property to the right audience and how to price it competitively. They also have the staff and resources in place to keep your property clean and well-maintained, which is important for maintaining high occupancy rates and getting repeat short-term tenants.

Plus, with a short-term rental management company like Hinge, you can rest assured that your Brentwood or Franklin property is in good hands. We can take care of everything from finding and screening tenants to handling maintenance and repairs.

So if you’re looking for a higher return on your investment, consider working with a short-term rental management company. It could be the key to unlocking your rental property’s true potential.