Owning a vacation rental property can be an incredible investment, but managing it requires a lot of time, money, and effort. As an asset in your financial portfolio, it’s important to protect its value, and part of doing that means maintaining day-to-day upkeep, performing major repairs when needed, collecting and managing rental income, remitting state & local business taxes, fielding inquiries and managing reviews. While handling it all on your own is certainly possible, if your rental property is in a location away from your full-time residence, or you simply want to ensure that your property is consistently delivering on your revenue goals, then partnering with a rental management firm is in your best interest.
If your rental home is in a popular vacation destination and receives a sizable amount of bookings, it’s vital to understand that not every rental management company is the same, and to understand what sets a top rental management firm apart. Here at Luxury Simplified Retreats we’re a luxury property management company in Charleston that goes above and beyond to provide exceptional care for your home, maximize your revenue, and offer incredible high touch service to your guests. But what makes us different?
3 Reasons Luxury Simplified Retreats Is the Best Luxury Property Management Company in Charleston
1. Don’t just take our word for it.
Luxury Simplified Retreats is a Charleston based white-glove property management firm with over 25 years in revenue management, property management, property maintenance, and guest services management. We became a property management firm for the simplest of reasons – because we’re owners too and as such, we understand what matters to owners. And frankly, it’s everything.
When we set out to create a dedicated property management team we set our sights pretty high. From the top down, we have amassed a group of expert managers, marketers, designers, landscapers, cleaners, property inspectors and guest service staff, each with an impressive background from industries that include real estate, hoteliers, hospitality, tourism and interior design. With a team that manage a $75M portfolio of luxury properties throughout the Lowcountry in locations from the Charleston peninsula and the surrounding barrier islands to, most recently, an expansion into Palmetto Bluff, SC, it’s no surprise that we were named among “The Best Airbnb Property Management Companies in the US” by AirDNA, November 2020.
2. A qualitative approach reduces the guesswork of what’s really working.
Data is everywhere in the vacation rental industry and we’re here to harness it. As Certified Revenue Managers we know the value comes from measuring more than once. Our team of certified Revenue Managers are trained to analyze key data metrics that can greatly impact the success of your rental and ultimately impact your bottom line. Tracking data points that make a difference include available competing inventory in the market overall, Average Daily Rate (ADR), Occupancy, RevPAR (Revenue Per Available Rental), and the power of price flexing.
So what does that mean for you? Transparent monitoring, tracking, and reporting. You should expect a management firm to provide transparent revenue tracking and reporting so that you can be fully aware of what’s really working to deliver revenue, plus future revenue-driving strategies that best suit your needs. Your monthly owner statements should reflect a full accounting of the monthly bookings, revenue, accommodations taxes, fees collected, maintenance tickets opened and resolved and any additional expenses that were accrued on your behalf – all without compromising on the care & upkeep of your property.
3. Because the “telephone game” is still around. Now it’s called Google Reviews
In the vacation rental industry, 5-star ratings are king. It’s like the modern-day version of the “telephone game” but with real monetary value at stake. Rental properties that consistently receive 5-star reviews get shared more often on social media, receive preferential placement on the OTAs and deliver more repeat bookings from guests + their family and friends. Many of our guests are repeat customers and for a good reason. We have spent years developing a reputation as an elite vacation rental company that provides luxury vacation homes, unparalleled amenities, and best-in-class guest services. So you can rest assured that guests staying in your property will be well provided for when your home is in our care – and we know they’ll still be talking about it after their stay.
Our in-house maintenance team provides assurance that should anything go wrong, someone will be there to fix it immediately. This ensures that guests will not be bothered by minor inconveniences during their visit. We also offer natural disaster preparation and support should that ever be necessary.
Let Us Help You Manage Your Property
Where to begin? Head to our blog to read: “Seven Questions to Ask Yourself While Researching Property Management Firms.” Luxury Simplified Retreats is one of the top options for luxury property management companies in Charleston, SC and we don’t say that lightly. We even have numerous case studies that demonstrate the quality care you will receive when working with us. If you’re ready to take the next step, reach out to us for a free property income analysis.
Learn more about what makes us the best luxury property management company in the Holy City. And, when you’re ready to take the plunge, we’re here to help.