I own or am looking to purchase a home in Breckenridge and want to know what are the benefits and pitfalls of Short term renting it? How does Resort Managers Breckenridge Property Management work for me, the homeowner?

If you currently own, or are looking to purchase a home in Breckenridge, you may be considering short term renting your property. Here is the short list of advantages and disadvantages of Short term renting your Breckenridge Property.

Advantages of Breckenridge Vacation Rental Management

-Pay your bills- Short term renting your property allows the ability to generate income and to potentially offset a large portion of the expense of owning a home in Breckenridge, without giving up the ability to use the home yourself.
-Protect your home- By utilizing Breckenridge Property Management services; you have someone watching over your home while you are away. A good Breckenridge Property Management company will do frequent checks on your property ensuring your home is well cared for and mitigation any sort of damage that could occur.
- Build your equity- Upon resale of your home a solid rental history can make it more appealing to prospective purchasers. If a potential buyer knows that can generate revenue based on past performance your home will generally secure a better resale price.

Disadvantages of Breckenridge Vacation Rental Management

-NONE! “But wait, there have to be pitfalls. My friend told me it is a nightmare.”

Common Misconceptions about short term Breckenridge Property Management

-“I can’t use it when I want.” Wrong, you can blackout your property for you own use at any time and for how ever long you like. Owners always have first choice to use their own property. Rentals are booked around the owner’s dates, not the other way around.
-“Renters will destroy my property.” Wrong. While accidents will happen from time to time, we make a point to have no less than two inspections done prior to and after each guest rental. This ensures if an accident were to happen, the guest would be held accountable for it and the problem would be remedied without any involvement or expense to the owner. However, most guests leave the property in better condition that they found it and we make it a point to inform each guest of this expectation.
- “My property will be fine without management.” Maybe. Your property should be fine unmanaged. But what happens when it gets broken in to, when the power or gas go out and the pipes freeze, when it floods, when an ice dam causes water to leak through the roof, or when someone needs to be there to address any of these type of emergencies?

The long and short of Breckenridge Property Management services is this- They cannot hurt, they can only help. Breckenridge Resort Managers is here to help you. More informarion on our Breckenridge Property Management sercices here.

Let’s explore the less complicated of the two, Breckenridge Property Management. In essence, this type of management boils down to making sure a home is taken care of and maintained for an out of town owner. This type of management does not involve renting the property, only caring for it.

Duties of a Breckenridge property manager include-Weekly checks of the home, reporting any maintenance issues, assisting to correct any maintenance issues, cleaning of the home as requested, maintaining utilities, and responding to any emergency calls.

Breckenridge Vacation Rental Management is a totally different type of management. This type of management revolves around short term renting an owners property to generate income for the owner. This is done with most second homes in Breckenridge and usually offsets some of the expense of owning a second home.

Breckenridge vacation rental management consists of the following- Marketing a property for rent, responding to potential guest inquiries, booking nights in the home, collecting payment, checking in/out guests, ensuring guests do not cause any damage or loss to the property, providing guest services to enhance vacations, scheduling housekeeping following guest vacations, reporting maintenance issues, correcting maintenance issues, billing owners for expenses, disbursing payment of revenue to owners, accounting for all revenue and preparing financial documents for tax purposes.

As you can see, Breckenridge property management and Breckenridge Vacation rental management are very different. The vacation rental part is much more complicated and labor intensive than the plain property management. However, they do share some of the same responsibilities, for instance- Maintaining the property, checking for maintenance issues, repairing maintenance issues, cleaning.

Most owners that rent their property through a rental agency get both Breckenridge property management as well as vacation rental management. Every time a guest vacations at an owners property, all the responsibilities of a property manager are carried out as part of the vacation rental.