Leadership is Key for Properties Allowing Short Term Rentals

Property Guard
Leadership is Key for Properties Allowing Short Term Rentals

If you’re a property manager, building owner, or developer and allow short term rentals in your properties, this blog is for you.

Perhaps you are considering changing that decision due to COVID-19, but you realize that short term rentals may be important to your residents, and your residents are important to you. We understand both sides of this dilemma because we are property managers too.

Our advice?

Become the leader that you already are. We can get so caught up in our day to day responsibilities and tasks that we forget we are the people residents are looking to for answers and confidence. When we look hassled and confused, residents can take advantage. If we stay confident in our decisions, residents will follow. And just because we allow short term rentals doesn’t mean we don’t worry about compliance with the standards we put in place.

We happen to agree with this quote from an article on vrmintel.com,

We believe …” that vacation rentals will recover faster than hotels because they offer more privacy. Keyless locks are more important than ever, and so is your returning guest pool, who already trusts you. Keep fighting the good fight, try to stay calm, and remember Faye Wattleton’s words: “The only safe ship in a storm is leadership.”

Short term rentals could quickly become the choice among business travelers and vacationers because (people know) property managers lead with trust and proper processes, and your resident hosts are not relying on employees to ensure they are excellent hosts – for the most part, they are doing it themselves.

This might be bad news, regardless of whether you allow or restrict short term renters.

That means more compliance and people for you to track.

The silver lining is that you get to develop the rules, regulations, and protocol for your building(s). If you’re going to continue to allow short term rentals, then be the building that everyone wants to be in; and be sure you are enforcing the standards you put in place.

In a previous blog, we discussed processes that included deep cleaning, updating tenants, and implementing changes based on your county or state’s decision making. At the time of writing, we hoped that we could take those steps and be done with it, but we now accept that this is a long term and perhaps permanent process (of change).

Many buildings now require deep cleaning, strict check-in processes, and less access for renters to open areas on the property. You must have a pulse on who is in and out of the building to ensure those processes are being followed. That’s where we come in.

And if you are considering changing your rules to no longer allow short term rentals, delivering that message and spelling out enforcement will be essential.

Short term rental compliance software is a big part of the answer, regardless of your decision. It saves you time and money. Time spent monitoring for wanted or unwanted activity. Getting back that time allows you to be the leader residents need in today’s environment.

We know it works because we created it, AND we use it.