How To Choose a Reputable Provider
Our industry has no regulation, and the demand for holiday lets as a result of the pandemic has opened our industry as a Free for All Market. When you are looking for a provider, be sure you select the right one. It is not hard to find roundups of cities with booming economies, but it is necessary to determine which ones are likeliest to have staying power. Check the industries that are growing fast.
Consider whether you can afford the ongoing expenses of managing a vacation rental in a city with a higher cost of living. Property taxes, utilities, and seasonal market forces can cut into your profits even if the upfront cost of investment is not a problem. I am reading and meeting people who have fallen victims to many of these unscrupulous Short Let providers. Ensure to check on the following when booking a short let with a provider.
- Accredited: Ensure that the company is accredited.
- Accreditation Number: Once a company is accredited, they are issued with an accreditation number.
- Review: Check on the company’s reviews using different websites.
It is good to understand other major market shifts, too — including changing regulations across the country and how they apply to Airbnb and other short-term rental property owners.