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Updated almost 7 years ago,
Self managing a vacation rental?
I own some residential rental properties that I manage myself and am considering buying a vacation rental to add to my portfolio. I live in Oregon and am looking at the Oregon coast because I know demand is there for vacation rentals and I am familiar with the area. I have identified 2 properties and ran the numbers, they both look good with one being in a slightly better location. They are about 1 hour away from my home.
I would prefer to self manage the properties, but hiring a local cleaning company for turnovers. Does anyone have experience with this in similar circumstances? How does it work out? What are issues I may run into?
I plan on using keyless entry (number pad I would text/email code to the renter the day of check in) so I don't have to get them a key. The lock I want does have a keyed entry option as well, so I have that for backup. I have rented vacation rentals in the area I am looking at where the management uses this and I really liked it from the customer's perspective.
I would love any ideas/input/advice!