The Administration Portfolio

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Successful vacation rental owners and hosts are organized.

Their calendars are up to date on every listing platform; booking processes are streamlined and easily monitored; payments are processed efficiently, and lodging taxes are collected appropriately and remitted promptly.

Any issues that are raised by guests are dealt with efficiently using standard operating procedures, and everyone in your team knows exactly what to do in any situation.

While marketing is the face of your short-term rental activities, the administrative systems are the backbone that can make or break a business.

These may not be the most exciting parts of setting up a rental but they are essential to creating a strong foundation.

From investing in an efficient reservation system to creating rental agreements with terms and conditions that cover all eventualities, these are the basics for successful operations.

If you manage your rental on one platform only (such as Airbnb) you might think it’s unnecessary to go to these lengths, however, if you plan to expand distribution to other platforms in the future, knowing what should be in place could boost your success.

In this video, Heather Bayer lays out the necessary structure for a robust administration system and outlines the components you should consider putting in place.