You can build your investment potential by leaps and bounds when you own a vacation property which is well managed. 

Half the battle in keeping up with your vacation property is having a quality manager. They will manage the day to day issues with your property, in addition to helping you market it and get tenants. 

But, you’ll definitely want to save some money when possible, and this means finding out how to negotiate property manager fees. Following the tips below will help you have more leverage when it’s time to negotiate these fees.

Invest in Property Management Software

Today, you can use property management software to handle many of the duties an actual manager would. 

This is an excellent tool to have anyway, because it gives you a detailed look at each account, and helps you know that your property is cared for. You’ll have detailed records and will make sound decisions by having everything laid out in front of you. 

With this sort of software package, you’ll have more control over your property and can more easily negotiate manager fees. 

Shop Around With Different Property Managers

The best way to negotiate is to have options. 

When you speak to several vacation property managers, you’ll know what they’re offering in terms of fees. With this knowledge, you can negotiate and see to it that you’re not breaking the bank. 

Speak to about five to six different managers until you are happy with the fees they are requesting. 

Handle Some of the TLC On Your Own

By doing some of your own yard work, improvements, and upgrades, you’ll be better equipped to manage it. 

Take a look at other successful vacation properties to see how they are managed and cared for. A glimpse at Elite Holiday Homes will tell you a lot about what sort of lawn care, curb appeal, and color schemes are winners when it comes to vacation properties. 

Get an Exact List of What Services Are Included in Property Manager Fees

When you know what is included in property management fees, it’s easier to figure out what you need and what you don’t need. For instance, if you have a real estate lawyer who performs some of the same duties, you may not need those services from the manager. 

This gives you more negotiation power since you can cater their services to your exact needs, rather than paying for blanket services. 

Do What’s Right For Your Vacation Rental Property

When you use these tips it will be easier for you to manage your vacation rental. Make sure you negotiate the property manager fees to the best of your ability so you can save some money and increase your profits. 

These decisions will make a huge difference and allow you to make this an excellent investment. Don’t hesitate to come to the negotiation table and get the property management you deserve. 

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