Many owners and potential clients often ask us what the difference is between a rental agent and full-service property management.
In this post, we’ll go through some of the differences between these types of management offerings and help you find what’s right for you.
With the number of options available to property owners seeming unlimited in Phuket, choosing a company to help rent and manage your property can be a real challenge. Property owners must consider each company’s unique style, reputation, and services to ensure they’re making the right decision for their property.
Most rental agents will charge between 10-15% of the rental rate. For this, you can usually expect a standard suite of services that include listing your property on their company website as well on a number of major rental websites such as Airbnb and Tripadvisor, handling their own bookings, and responding to inquiries before a guest’s stay.
A professional rental agent will also help you set up or improve your property listing by providing photography and descriptions to give your rental a professional appearance.
When choosing a company to work with, however, make sure to check the quality of their current listings. Whilst the cameras on smartphones have gotten a lot better, we are still amazed when we see agents using their phones to take pictures of properties.
Depending on your arrangement, the agent will also be the main point of contact with the guest during their stay. However, they will be coming to you to resolve any problems the guest may have during their tenancy. Whilst many bookings go smoothly and without a hitch, no matter how proactive you are, eventually something will go wrong.
Advantages of Full-Service Property Management
With full-service property management, we are taking every issue you would handle as a self-managing owner off your plate, and handling it with our own local expert team.
The 2 most impactful differences between a rental only agent and a full-service property management company are offering your guests 24/7 support during their stay and performing routine inspections.
24/7 Guest Support
If a guest has an issue, such as a leak in the kitchen or the air-conditioning stops working, a full-service property management company will assume responsibility and resolve the issue as quickly as possible.
Without this essential service, you, the owner, are responsible for answering the guest’s calls or emails (even those that come in the middle of the night) or hiring another company or person to do it for you.
An agent that focuses only on renting your property is leaving a vital piece of the work for you to figure out. Why do we think this matters so much? A bad guest experience will lead to a negative review, leading to less future bookings and most importantly fewer earnings.
If a guest has an emergency, you want a property manager ready to take the call that is as invested as you are in seeing that the guest is happy and their needs met.
When you offer excellent support to guests, you create loyal customers that book again and again.
With routine property inspections, we are making sure your property always stays at a high standard whilst also limiting the number of issues that could arise during a tenancy.
During these inspections, we are checking and testing all major facilities such as electricity, plumbing and air-conditioning units. We are also checking the standard of furnishings as well as electric appliances, cookware, cutlery etc.
Once we complete the inspection, we email you our finding along with our suggestions on improvements and maintenance needed.
If you would like to experience the peace of mind a full-service property management company can provide and receive the most from your investment, get in touch.