Choosing A Villa Rental Agency For Your Property
Whether you have bought an investment property or you have decided to rent your holiday home to cover expenses, there are several questions you should ask yourself when choosing a villa rental agency in Menorca. We have put together this quick guide to help owners to select the agency that is right for them
So what are the things to consider when choosing a villa rental agency for your property?
Do you have the time, technical skills and patience to do it yourself?
One of the main factors for opting for a villa rental agency in Menorca to handle your bookings is the lack of time, computer skills and patience.
Renting your villa involves a number of factors including marketing your villa, learning the rules and keeping up with changes on listing sites, handling all sorts of enquiries and questions from guests before and after reservation, the booking process, the payment process, keeping up to date with local and national laws and regulations, liaising with cleaning and maintenance teams, enhancing your guest's experience, offering a 24-hour contact for guests, etc.
As an owner, you must ask yourself if you are able and willing to do this yourself, or if you would rather a villa rental agency handle this for you.
What are your expectations and goals when it comes to renting your holiday villa?
Some owners buy their property as an investment and their goal is to achieve as many rentals as possible, whereas others enjoy their holiday home and prefer to be a bit more selective when it comes to rentals, their goal is to breakeven and cover yearly expenses. When selecting your villa rental agency in Menorca you must first decide how often you want to use your villa or if you will allow friends and family to stay. This is very important as it will be restricted with some agencies. Other types of questions you should ask yourself are:
How much rental income do you hope to achieve?
Do you have a minimum weekly rate that you will not go below?
Are you okay with short stays of 1 – 5 nights?
Will you reinvest any profit into your villa?
It is a good idea to prepare a list of your expectations and goals and have this at hand when meeting with potential rental agents.
Contact and meet with more than one villa rental agency.
When you have decided that you do need a villa rental agency and you know what your goals and expectations are when it comes to renting your villa in Menorca, the next step is to contact and meet with various villa rental agencies.
The services offered, the property requirements, the commission rates and types of rental contract vary from agent to agent. Generally speaking, the smaller villa rental agents offer a more personal hands-on service to owners, they tend to know their properties well and they are based locally. These companies also have a close relationship with guests, which in turn allows them to enhance the guest experience. The larger companies have more staff, communication with owners and guests tends to be a little more impersonal and detached, and their head office is usually not local. Some of the questions you should ask when meeting a villa rental manager are:
Who will be my point of contact?
Can I stay at my property during the rental period?
Do you offer a fixed income contract or will income depend on the number of weeks rented?
Do you organise cleaning and linens services? Who pays for this?
What equipment do I need in my villa?
What happens if there is a maintenance problem at my villa?
Do you charge guests a security deposit?
Do you offer a 24 hour emergency contact number for guests?
Where will you market my villa?
Where is your main guest from? Do you only focus on one country or do you market to several?
This is your chance to ask any questions that you have and it is important that you are prepared for the meeting.
Time to choose!
When all of your questions have been answered, it is time to make a choice. There will be one or two villa rental agencies in Menorca that suit your needs more than others. Before making your final decision, you should also read reviews on Google, Facebook and reach out to other owners to hear their opinions. With all this information, we are sure that you will be able to choose the right villa rental agency for you.