There Have Been Some Vacation Rental Challenges
Let’s be honest, owning a rental of any kind can be a challenge. Owning a vacation rental in a distant place adds some additional challenges. For anyone reading the blog about my journey as a vacation rental owner, I have to be honest. There have been some obstacles the last couple of months.
Filling The Calendar but Not My Wallet
My biggest challenge right now is that my property management company is doing a fantastic job of filling the calendar for summer, (traditionally slow season in Hawaii.) Umm say what? Why is a full calendar a challenge? Well they have successfully filled the calendar by offering deep discounts to guests. The July calendar is all but full but the discounts taken mean that it still won’t pay for itself. All good business people understand taking a loss, but I cannot afford for the condo to take a loss if it is fully booked. My property management company and I are discussing how much I am willing to discount stays in my property. Stay tuned for more on this!
Fraud and Theft
A recent last minute booking seemed especially welcome, the 5 night rental would have meant being in the black for last month. Turns out they were using a stolen credit card, they headed out of town just as the stolen card was reported. Not only did they “steal” 5 nights in my condo, they also took some towels and other household items. New procedures are in place for verifying credit cards for last minute bookings.
New Washer-Dryer Needed
A recent guest reported smoke coming from the washing machine. It was determined that the stackable laundry unit needs to be replaced. I was hoping for minimal expenses for a while but nope! Replacing the stackable washer/dryer next week.
Escape Our Late Summer Heat by Heading for Maui
The good news is my unit has been very popular. The calendar filled up pretty well for May and June, and as reported above July is all but full. There is availability in August and September is wide-open! If you want to head to the island for some 75-80 degree weather when it is 110 here, let me know! If you don’t, I just might!