I’m not experienced enough to do vacation rentals remotely. Maybe it’ll come with time.
I don’t mind the work, because I know it will pay off in the end. I still have to inspect to make sure that everything is in good order. It was kinda fun at first and you get a sense of pride thinking “this is mine”, but it gets old quick.[/quote]
Yeah! It was a major pain. Very labor and time intensive. I had to have a staff of over 50 employees (maids, handymen, check-in/out staff, reservations staff, office management, accountants, administration, bill paying staff, etc) . Not easy especially considering all the properties were in different locations (i.e. not under one roof like a hotel).
It’s not easy to do remotely but it is getting easier with technology. On most of my rentals I put those electronic Schlage locks that you can pre-program with codes. Send a detailed welcome guide ahead of time, have VOIP phone set up so they can call the USA (my properties are located outside of the USA).
Still, I agree with you that you have to have someone dependable managing it taking care of issues/problems (always seems like there are some issues to deal with).
Absolutely there is a sense of pride on setting up a good property that you own. And it can be lucrative if you are in a desirable city and set up operations properly. I have some properties that have completely paid for themselves with rentals in the span of a few years. But yes it can “get old quick”. But having a good property manager can take away lots of the headaches.
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