Industry Insights

10 Tips to Save Time & Money For Your Property Management Business

July 23, 2018 |

If you’re running a property management business, then you’re probably constantly pressed for time between driving around to drop off keys and restocking the rental. To make matters worse, your bills are probably much higher than you’d like them to be, with guests running the electricity all day or taking home your supplies.

To avoid all that waste, here are some top secret tricks to save you time and money so you can run your property management business more efficiently, and even save up for a vacation of your own!

Here Are 10 Tips to Save Time & Money For Your Property Management Business:

Save Time With Automated Check-in

Stop staying late at the office because a guest is stuck in traffic, or waking up in the middle of the night to hand over a key. A keyless entry system, like Slickspaces, will allow your guests to arrive at their leisure, so you can catch some extra zzz’s. Simply send your guest an electronic code upon check-in, and they can let themselves into the rental. Modern technologies like these can also help to protect your properties from break-ins and thieves. Talk about double bonuses.

Modernize the Thermostat in Your Vacation Rental Properties

We all know guests have a tendency to run the air conditioner for their entire stay, even while they’re out, leaving you with an astronomical bill at the end of the month. If only there was a way to keep the costs low and the guests satisfied…Oh, wait, there is! Smart thermostats allow you to control the temperature of the AC on the go from your smartphone or computer. Before arrival ,you can set the temperature to a comfortable setting and shut it off right after check-out. Basically ,you’ll be an AC magician.

Replace Your Light Bulbs With LEDs

If your guests will leave the AC running all day, then they’re even more likely to leave the lights on – leaving you to pay for electricity that wasn’t put to good use. By replacing your light bulbs with LEDs, you can save an average of $150 each month. They’re also environmentally friendly and made to last forever, so you won’t have to worry about regularly changing light bulbs.

Use a Robot to Clean The Floors of your Short-Term Rental Properties

If you clean your own rentals, a robotic vacuum will free up your hands so you can take care of some more important chores, like changing the sheets or restocking the fridge. Turn your vacuum on at the same time as your dishwasher and laundry machine to cut your cleaning time by 75%. Talk about multitasking.

Install Shampoo Dispensers

Providing your guests with mini shampoo and conditioner bottles creates a hotel effect, but those tiny bottles can really add up. A cost-effective alternative is to install dispensers in your showers. These sleek gadgets are easy to refill and stay right where they’re supposed to be, so you can finally stop worrying about guests taking your supplies home with them.

Shop Online in Bulk

If you’re still going to the store every time you need to restock, switch to online shopping and literally save yourself hours of time every week. As opposed to taking the time to shop and wait in line, click a few buttons and wait 24 hours for your delivery to arrive. To save a few extra bucks, order wholesale shipments directly from the manufacturer to eliminate the middleman.

Keep Your Linen Closet Well Stocked

Always have at least three extra sets of towels and sheets on hand at each rental. You won’t have to drop off new sheets everyday, just tell your cleaning crew where to find the replacements. If your guests request an extra blanket or towel, you can conveniently direct them to the linen closet.

Protect Your Furniture

Shield your mattresses from stains and tears with an easy slip-on mattress cover. This thin extra layer will keep your mattresses in mint condition, even after years of regular use. Spray your couches and chairs with an upholstery fabric spray for a similar effect. These items also safeguard against bed bugs, who are certainly not welcome to stay in your rental.

Keep Your Sheets Looking Brand New

This tip may seem counterintuitive, but the method is foolproof. White linens, although they stain easily, are also incredibly easy to clean. Simply wash with bleach and they’ll look as good as new. They also create the illusion of making cramped spaces seem larger, which is a nice bonus for small urban rentals.

Utilize a Property Management Software

With all the tools you need, like channel management, automation tools, payment processing and more, a property management software will completely revolutionize the way you run your property management business. A property management software will keep you up to date on all of your listings from a single platform, even when you’re on the go. Click for more information about Guesty’s property management software.

Making just a few of these changes can have an immediate impact on your property management business, saving you time and money for that long-awaited vacation of your own. All that’s left to do is to decide where to go!

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