Rent Increase Reminder. Free Rental Forms: Fill & Download for Free

LL's believe they can do anything they want since there the homeowner & usually get away with it bcse tenants don't challenge them or check into their rights with the Landlord Tenant Board. For instance, a LL can't give a verbal or written eviction that they drew up themselves. Evictions MUST be given on a Landlord Tenant Board eviction form. Evictions MUST be dated the last day prior to when you pay rent eg. Rents due the 1st, eviction would be dated the 30th or 31st of prior month & you have 60 days to move from date on the eviction.We live in a duplex, bsmt LL, 1st flr us, 2nd flr tenants. We've lived here for 7 yrs, had minor problems with the LL’s. The LL's are brother & sister, brother is who lives in the bsmt.The LL requested a meeting with us first. He reminded us how we've not had a rent increase in the 7 yrs living here. They were asking for a $500 increase. We immediately refused, the LL had said we're like family, would like to work something out to avoid going for a hearing at LTB. He knew if we went to LTB he would lose. In Toronto, Ontario, Canada the LTB gives a fixed rate as to what a LL can raise the rent to. In 2018 it was 1.8%, with our rent works out to approx $40 per month. I had asked the LL what he was going to do with the 2nd flr unit. LL said he would be askig the same increase.The young men upstairs unit are friends of my son, they can't work, are on the Ontario Disability Program which they receive approx $1200 monthly. This is supposed to cover rent, groceries, utilities, necessities, prescriptions & transportation. I try to look out for them to avoid them being taken advantage & being bullied.After the boys meeting with the LL they contacted me concerned with the LL's rent increase. The LL told them there increase would be $700. I was surprised after the LL told me it would be the same as ours $500. LL did this bcse he knows the young boys wouldn't be able to afford it, Thinks he can get away with it bcse they don't know better, wouldn't dispute.As we still had to come to an agreement on our rent increase I arranged a meeting. I invited the 2 boys from the above unit & never informed the LL. Both LL's decided to attend the meeting. They arrived, were surprised the boys were there since the meeting was to discuss our increase. I started the meeting asking why the LL told us the increase for both units would be increased to $1800, but above unit to $2000. Right in front of the boys the LL says he never said $2000, they misunderstood, he was only telling them what he could get in rent. They were irate, told him there not stupid or deaf, 100% he said $2000 is what the rent would increase to. See, if he evicts he can increase rent to whatever he wants with new tenants. Where as if we all continue living there the law states for this year all LL's could only raise the rent was by 1.8%,m.We all came to an agreement of $1600 which will include repairs that LL will have done immediately. Even though it was illegal what he was asking I agreed bcse we have always got along, had no increase in the 7 yrs. if I had to move I would be paying more for rent somewhere else & now I won't have to move. After our meeting the LL drew up papers with the agreement which we all signed.The following day the LL gave an eviction notice to the boys above. The reason he said was so he & his family could move in. The law states that a LL can evict if he intends to move into the property.One of the repairs to be done was putting an overhead fan above the stove. We were given a 24 hr notice to have an electrician install one in our unit & the above unit. As the electrician & assistant are doing the work what should of taken aprox 2 hrs took 4 hrs. They stepped out for a few minutes, my husband went into the kitchen, seen the tools he was using were poor quality. This now explains why it was sounding so bad & taking so long. As the electrician completed the work & was leaving my husband asks if he's a licensed, the electrician replies that he wasn't licensed. Now we have a problem, he’s an illegal electrician.My husband goes looks at the finished work. He's no electrician but does know enough the work done is wrong, knew it was illegal. He goes outside & has the illegal electrician come back in along with the LL. My husband confronts the illegal electrician, tells him this is illegal work. The illegal electrician replies saying that he's done hundreds of these & this is how he does it, then leaves. What the illegal electrician had done was leave all wiring exposed when it MUST be grounded. Also he connected it to a regular wall outlet when it MUST be an electrical outlet. We went & looked at the above unit, same thing except he left dangling a regular extension cord to plug into a regular wall outlet. It was worse than ours. For some reason that day, before finding out about the electrician being illegal, something told me to take a photo of the electricians vehicle license plate.Later that evening the LL slides under our door an eviction notice. He put the same reason as the 2nd unit, he needs it for himself & family. Now we know he was lieing as to the eviction of both units. Same eviction, both units, for himself & family. He can only live in one unit. He's doing this for money, with new tenants he can charge the $2000 rent he's been wantingNow I was pissed, LL is endangering all our lives hiring an illegal electrician, he needs a be stopped before this house or one of the hundreds of homes he's claimed installing goes up in flames. I couldn't just leave this alone, something had to be done.I contacted the Electrical Safety Authority. I explain the what happened & also informed them I believe the bsmt unit is illegal. The front of the house has a driveway & garaage on each side of the house. He sealed off the garage doors, went built the bsmt unit inside without getting a building or electrical permit. How it was confirmed, when the Electrical Safety Authority(ESA) looked up our address & informed me that there records go back to 1999, they have no record on file of ever a permit being issued for our address. The info I provided of what the illegal electrician had done they wanted to send an inspector to investigate.The inspector arrived, looks at the work in our unit & was stunned. Then when we showed him the 2nd unit he was really alarmed. He informed us to stop using the fans immediately to avoid the possibility of being electrocuted.While the inspector was there I inquired about the fuse box. I explained that it is in the LL's unit. When a fuse goes we have to contact the LL, when he's not home wait till he arrives & informed him I'm pretty sure its an illegal unit. If it was legal then the fuse box would be outside of his unit so we all have access. Law says, bcse this is a house was built with apartment units each unit must have their own fusebox.The LL was written up by the inspector for 6 infractions. They must be repaired asap, gave him a deadline to have all work completed, proove repairs done by licensed electrician. The inspector advised the LL that the fans & wiring all must be removed asap & that he has to have a fuse box installed in each unit. Also, the wiring elsewhere on the property isn't to code & must update all of it by an assigned due date. Deadline date comes, an inspector comes back, sees work not all done, now LL was given a 2nd deadline date. The ESA asked if I would provide them with a copy. They are now investigating the LL's hiring of an unlicensed electrician & the unlicensed electrician. The both LL's are refusing to provide the name of the unlicensed electrician. If the LL's would of hired a licensed electrician the aprox cost would of been $200, hiring an unlicensed electrician is aprox $10,000 with all the repairs the ESA has forced them to do.In the meantime what us & 2nd unit did was refused his eviction. What this means is that the LL has to file for a hearing at the LTB. Prior to the hearing I submitted a book full of evidence I gathered. I kept record with date/time of everything that happened, every conversation whether by talking or thru text & photos, all 24 hrs notices he didn't comply with. Almost all notices were less than 24 hrs. This way the judge has an opportunity to view prior to the hearing. When you submit evidence the day of the hearing the judge only has time to skim thru everything & may miss something.Most judges don't like LL's, they know LL's try to scam to get what they want. Since it was the LL who filed for the hearing, it's his responsibility to prove why he needs to evict us. It took 4 hearings before the judge made a final decision. What started June 2018 didn't didn't finish till March 31/19. Our eviction date. I had a grocery list of items he was doing illegal.Hearing # 1, LL thinks it's a slam dunk. The only thing the judge asks us is what day do we pay rent. I tell her the 1st. She looks at the LL & tells him she's dismissing his request to evict, its thrown out. He dated the eviction the 30th when there was 31 days in the month. Of course he was stunned, says it was a simple error. The judge tells him the LTB law states an eviction must be dated the day before a tenant pays rent, eviction is null & void.In our case the Judge saw right through him, seen he was evicting us for a cash grab. The judge seen the LL had put on the eviction notices for both units that he needs each unit for he & his family to move in. Dead giveaway, he can only live in one unit so why the need to evict both. Also, what was going on with the ESA, hiring an illegal electrician. The judge even told the LL she recommends he get a lawyer. This went right over his head, think he thought she was talking about the eviction hearings when she was referring to what was going on with the ESA.Now LL has to give us a new eviction which means another 60 days of waiting. We all decline again, now he has to refile for a new hearing. Each time the LL files it costs him $200.Hearing # 2. The LTB law states if a LL evicts for his own personal use he must pay the tenant one months rent by the eviction date. Bcse the hearing came after the eviction date, we hadn't moved yet as we were waiting for the hearing, regardless the LL should of paid us the one months rent required by the eviction date he filed. He hadn't paid us, the eviction was thrown out. The LL tells the judge he wasn't aware. She informs him again as a LL its his responsibility to be aware. She also asked why isn't he using the toll free # for LL's to get advice on what the law is. There is a # for tenants & theres also free legal aide you can call. I used the hotline & free legal aide, they were very informative. Also, should you have a hearing, go early, right there on site they have duty councils you can speak with to ask questions before the hearing begins. I spoke with one for each hearing.Hearing #3. They ran out of time to hear our case. LTB hearings are like when you go to small claims court. They hear a # of cases that day. Again the eviction date has gone by. We now wait for the LTB to send a notice for a new hearing date.While waiting for the new hearing date I had prior filed for a hearing against the LL for not maintaining the property which is endangering our living conditions. I was also going after him to pay my storage fees. When we had to clear everything out from hallways for the ESA's electrical repairs to be done. The LL refused to allow us to store anything in the backyard. He threatened if we did he would throw it out & any costs would be billed to us. What I had planned on doing was to put our belongings in a tent in the backyard, now we had to rent a storage unit. We go before the judge, she remembers who we are, not happy with the LL knowing what he's trying to do & now we're before her bcse of maitenance safety living conditions the LL is not maintaining. She reviews my evidence & advises me she's unable to force him to allow us store our belongings in the backyard. Its his yard, he can refuse if he wants. The judge gets hin anyway. The evidence I provided, aprox half a dozen items, she informs the LL he hasn't maintained the property which is endangering & causing unlivable living conditions. She went thru all the items I submitted, gives him dates that each item must be repaired by. For each hearing the tenants in the 2nd unit came to be witnesses if needed. After this hearing the LL was at the elevator doors. Myself & my witnesses were waiting at the end of the hall till he went first down the elevator. The LL sees us, comes marching up to us, his finger in my face, in threatening voice says you're outta here end of Jan & to the boys that they're next.Hearing # 4. Now it's Jan 8th. the eviction notice date is for Jan 31st. This would be our last hearing . Again, go in & she knows who we are immediately. This time the LL came with a lawyer. She begins by pissing him off, she put our case the last one to hear so he has to wait.Even though we were there for the eviction hearing the Judge begins by asking if the LL has paid us the one months rent he is required to do. I inform her he did, he gave it to us 2 days prior to this hearing. Then asks if the LL has completed all the repairs he was to have done from my hearing. I inform her what's been done & what he still has to do. The LL tries giving excuses as to why he hasn't completed everything. Now the judge is unhappy & informs the LL he's not taking this seriously, can't do what he wants & needs to complete asap.The judge then continues with why we are there, for his eviction. The judge begins asking the LL why he requires our unit, what's wrong with the unit he's in. LL says his family is growing, he has a wife, 1 1/2 yr old twins & another new baby due in feb. The bsmt unit isn't large enough. She asks if he moves into our unit what are his plans for the bsmt. He says his m-i-l is coming for 6 mths to help out & she will be living in the unit. Says the m-i-l can't go up/down many stairs, going into the bsmt only has a few & having her own unit gives her privacy. Judge asks if there are stairs to go up to get to our unit. He replies yes, the judge says you're saying the m-i-l can't go up/down stairs thats why she's going into the bsmt & yet you're on the 1st flr which means she will have to go up/down more stairs if she's there to help, it doesn't make sense.Then I remind her how he's evicting both units for the same reasons, have her look at my evidence of both evictions. I explain that he has only filed our hearing bcse our unit is only one with AC, & he's using our hearing as a test before he files for another hearing for the 2nd unit. How the boys in the 2nd unit are on ODSP & he's evicting them bcse he knows they can't afford the $700 rent increase he's asking for. I remind her in my evidence that even though the rent agreement we reached isn't legal & not on a LTB form we did all sign an agreement. That the eviction was given after the signed agreement & on the evening we confronted them that the electrical work was illegal. Also provided evidence, the LL letter, that he told the boys in 2nd unit to clean out the 3rd bedroom thats empty since my son moved out, he plans to sublet it for $650 monthly.Know the lawyer he brought, what a waste. The LL obviously only told him that he was evicting us so he can move him & family in. He failed to tell the lawyer that he gave the same eviction to 2nd unit, trying to sublet the 3rd bdrm in 2nd unit, the illegal electrical problems, he signed a rental agreement with us, eviction was given after signed agreement & given on evening we called out the illegal electrician worker & that the LL is under investigation with the ESA.Every time the judge had confronted the LL with any of the facts I’ve provided, its not legal. The poor lawyer, you could see on his face he was surprised what he was hearing. All the lawyer could do was agree with what the judge said.It was decision time, the judge advised the LL she was apprehensive that he needs the unit for himself but has to rule in his favor of evicting us bcse law states the homeowners can evict if LL wants to reside in the unit.Not before hurting the LL as much as she could. She told him that he wants an apartment he's getting it. He is to move into our unit & must live in it for a year before he can rent it out. The 2nd unit, there eviction had expired by the time of our hearing, the judge told him that he's not allowed to evict the tenants in the 2nd unit for one year. She asks when is this eviction for, tell her Jan 31st. She asks if we require an extension. I said the end of Feb. She says that she feels its its not a enough time & extends the eviction to March March 31st.Remember, he was doing this bcse he needs the money. He has mortgaged the house 2 or 3 times. Now he's screwed, he can't collect income from our unit bcse he has to live in it, the 2nd unit he can't increase the rent the $700 he wanted, they continue paying rent as is for a year. The judge asked us if we had any problem if he rents out the bsmt unit once the m-i-l leaves in 4-6 mths. We said we were fine with it. The judge advised us that at any time we find out he's not living in our unit & has rented it out we're to bring him back to court. Between tenants in 2nd unit & neighbors who dislike him. They will be watching that no other people are entering/exiting the house other than the LL's family & tenants in 2nd unit. If they see anything unusual I will be informed.We were okay with the outcome even though we have to leave. My main concern was the boys in the 2nd unit. They would have no where to go, now they have a year before they have to figure out what they will do.Its wasn't even a month from the hearing the doorbell rings. It obviously should of been for the LL. Go open the door, the person says they were told there was an apartment for rent. I said no, they need to get in contact with whomever you were to see & closed the door. The LL was home at the time, but i wasn't letting him know this. Week goes by, someone else comes, same thing again, heard a rental is available. Again said no, call their contact. Now i will have to go file at the LTB for another hearing. Even though we'll be moved out of here before the hearing the Judge needs to know what the LL is upt to& he hasn't completed the repairs she gave him. I don't know if the judge has the authority bcse she is a LTB judge she should be made aware that both LL's aren't cooperating with the ESA, are refusing to give them the name of the unlicensed electrician.The ESA have been investigating, they got an address from the license plate I provided; 1) the vehicle is registered to a female, think its the wife, 2) the address is in the furthest south you can go in Hamilton, we're in Toronto. Why would you hire someone from Hamilton when there are alot of licensed electricians in Toronto. 3) They went to the address, found out the vehicle ownership, new people have lived at the address for 7 yrs. They have never submitted a change of address updating the drivers license.I've been keeping in touch with the ESA investigator, helping where I can. They have been giving up to dates of what's been going on.What the ESA did find out was the person who came & removed the fans in both units & repaired the electrical for just the fans, once again the LL didn't hire a licensed electrician. The ESA spoke with the unlicensed electrician, told him to cooperate or he will be charged. He provided all info ESA required. During this the LL has no idea he is being investigated. He thought the previous infractions was the end of it. The ESA will be charging the LL for the 2nd illegal electrician & continue looking for the 1st unlicensed electrician. He needs to be caught, charged before something dangerous happens.As you see it's a lot of work. I couldn't just let the LL get away with doing what he wants. I'm happy that it's cost him aprox $10,000 to repair the electrical, he's not able to rent the apartments out, he's being forced to live in it, getting no income. The above unit he can't evict or increase their rent. That he will be charged by the ESA for hiring unlicensed electricians. Now when I go file for another hearing suspecting he's not complying & the possibly trying to rent out the unit when the LL is supposed to be living in it. Have to see what happens there. I felt string about this, Its been worth every bit of time.

It depends. Many I interact with outsource this part to professionals as the man hours needed to clean on consistent basis really add up over the course of the year (especially if a host has a high-demanding job or a family). I thought it might make sense to outline the pro’s and con’s to outsourcing the cleaning of your Airbnb property to a professional.In my day job, I interact mainly with vacation rental/Airbnb owners and property managers for those units, so I will keep this answer to my area of experties.Self-managing a vacation rental may be the most cost-effective option for many real estate investors, you may be surprised to learn that hiring a property management company to oversee your rental home can result in less hassle and higher profits. Of course, each case is unique, so to determine the best choice for your precise situation, we've come up with a list of some important pros and cons for you to consider.Professional Property Management Pro: Improved Service and Response TimeIf you live near your vacation rental year-round and have a flexible schedule, then you may find that you are more than capable of providing 24-7 assistance to your rental guests, with quick response times in the event that they require help at the property. But this, when combined with routine maintenance, can quickly add up to a significant time investment. According to HomeAway, owners spend an average of 8.4 hours per week tending to a property!If you lack a flexible schedule or do not live locally year-round, which is common for a large portion of rental property owners, providing assistance and prompt service to your guests can prove to be a real hassle, if not impossible. Plus, you risk a poor experience for your guests. In this situation, turning to a vacation rental property management firm can be the better option. This can leave you free to tend to other matters, while simultaneously ensuring that your guests have a positive experience—a point that can result in improved ROI since you'll be more likely to see repeat guests.Property management service providers can also perform more frequent site visits than an owner who doesn't live locally. Your rental can really benefit from regular visits because this can help you avoid serious property damage. For example, gusty winds during an afternoon thunderstorm can dislodge a roof tile, resulting in a small roof leak. This leak can quickly result in thousands of dollars in water damage, causing mold that grows at a rapid clip in the summer heat. Your property manager will likely notice this issue in short order, whereas if you left the property unattended for months at a time, you could check in to discover tens of thousands of dollars in damage.Professional Property Management Con: More Challenging to Build RapportSome returning guests enjoy seeing the same caretaker or property manager when they arrive for their stay. If you live locally and deliver the keys to your guests personally, this allows you an opportunity to build a rapport with those individuals. This can add a little extra something to their visit, making them a bit more likely to return in the future. You're also provided with an opportunity to remind them that you are available to assist in ways that can make their stay more comfortable or enjoyable. This is another way you can improve ROI by increasing the chances of seeing a return guest.If you're hiring a vacation rental management firm to oversee your property, it can be more challenging to establish this rapport because a different person may assist on every visit. That said, there are many property management firms that have experienced, long-term employees who are adept at building rapport with guests. So ultimately, it comes down to picking the right firm for your needs.Professional Property Management Pro: Better Technology ResourcesMany rental management firms deal exclusively in vacation properties. As a result, these firms are more likely to invest in technology that makes the rental process easier and more profitable.There are many high-tech tools of the trade that are now in use by the top rental management companies. Examples include high-tech lockboxes to contain keys, sophisticated software programs for pricing, invoicing, and guest vetting, and the best dispatching apps to ensure that any and all repairs or problems are addressed promptly.Use of this technology results in lower property management costs, combined with greater convenience for everyone involved, including the guests. That spells a higher ROI and more positive ratings and reviews for your rental.Professional Property Management Con: Less Control Over Guests and ManagementSome real estate investors struggle with the idea of giving up control over their property. The idea of allowing someone else to vet potential guests, perform repairs, or interact with your guests can be nerve-wracking and worrisome.But this point only serves as a “con” if you fail to work with the right management firm. When you find the right rental management firm, then you'll feel comfortable giving it control of your investment property. You'll feel confident that your property will be managed it in a manner that is in line with your personal preferences and goals as a real estate investor.What's more, lots of rental management companies are happy to provide you with a custom service package in the event you'd like to maintain control over certain tasks.Professional Property Management Pro: Better Marketing and PromotionUnless you're experienced in the area of online marketing, it can be super challenging to get the exposure you need to maximize your ROI. Many vacation rental property management companies offer advertising and marketing packages, using landing pages, social media, and listings on major rental websites.Lots of property management companies also have a rental agency division that maintains contacts with hundreds or thousands of prospective guests, in addition to performing tasks such as vetting. Even without investing money in marketing and advertising, you could see a steady flow of visitors originating from your rental management company. That means higher profits!Professional Property Management Pro: Reduced RiskThe right property management firm can go a long way toward reducing risk, particularly financial risk. Well-written contracts and rental agreements can release you from some forms of liability, while also giving you the power to pursue a guest for any damages that result.You can also minimize risk by charging the right amount for damage and security deposits. For those who do charge a damage deposit, the system only works well if you have a property manager who can view the property immediately after a guest’s departure to identify any new damage.There’s a reduction in terms of the financial risk, too. For example, Rented offers a guaranteed income model that can protect you from losses that would arise when your property is vacant.By working with a property management firm that’s capable of overseeing bookings, you’re also more likely to keep your vacation home consistently occupied. And, you’re more likely to see the type of guests you’re seeking because your management company can use refined marketing strategies to match you to your preferred guest demographic.If you have ever thought about renting out a vacaction rental/Airbnb home with a professional manager, feel free to try this free tool from my company to see how much a professional would pay you to rent out your rental property for you.

It depends.In my day job, I interact mainly with vacation rental/Airbnb owners and property managers for those units, so I will keep this answer to my area of experties.Self-managing a vacation rental may be the most cost-effective option for many real estate investors, you may be surprised to learn that hiring a property management company to oversee your rental home can result in less hassle and higher profits. Of course, each case is unique, so to determine the best choice for your precise situation, we've come up with a list of some important pros and cons for you to consider.Professional Property Management Pro: Improved Service and Response TimeIf you live near your vacation rental year-round and have a flexible schedule, then you may find that you are more than capable of providing 24-7 assistance to your rental guests, with quick response times in the event that they require help at the property. But this, when combined with routine maintenance, can quickly add up to a significant time investment. According to HomeAway, owners spend an average of 8.4 hours per week tending to a property!If you lack a flexible schedule or do not live locally year-round, which is common for a large portion of rental property owners, providing assistance and prompt service to your guests can prove to be a real hassle, if not impossible. Plus, you risk a poor experience for your guests. In this situation, turning to a vacation rental property management firm can be the better option. This can leave you free to tend to other matters, while simultaneously ensuring that your guests have a positive experience—a point that can result in improved ROI since you'll be more likely to see repeat guests.Property management service providers can also perform more frequent site visits than an owner who doesn't live locally. Your rental can really benefit from regular visits because this can help you avoid serious property damage. For example, gusty winds during an afternoon thunderstorm can dislodge a roof tile, resulting in a small roof leak. This leak can quickly result in thousands of dollars in water damage, causing mold that grows at a rapid clip in the summer heat. Your property manager will likely notice this issue in short order, whereas if you left the property unattended for months at a time, you could check in to discover tens of thousands of dollars in damage.Professional Property Management Con: More Challenging to Build RapportSome returning guests enjoy seeing the same caretaker or property manager when they arrive for their stay. If you live locally and deliver the keys to your guests personally, this allows you an opportunity to build a rapport with those individuals. This can add a little extra something to their visit, making them a bit more likely to return in the future. You're also provided with an opportunity to remind them that you are available to assist in ways that can make their stay more comfortable or enjoyable. This is another way you can improve ROI by increasing the chances of seeing a return guest.If you're hiring a vacation rental management firm to oversee your property, it can be more challenging to establish this rapport because a different person may assist on every visit. That said, there are many property management firms that have experienced, long-term employees who are adept at building rapport with guests. So ultimately, it comes down to picking the right firm for your needs.Professional Property Management Pro: Better Technology ResourcesMany rental management firms deal exclusively in vacation properties. As a result, these firms are more likely to invest in technology that makes the rental process easier and more profitable.There are many high-tech tools of the trade that are now in use by the top rental management companies. Examples include high-tech lockboxes to contain keys, sophisticated software programs for pricing, invoicing, and guest vetting, and the best dispatching apps to ensure that any and all repairs or problems are addressed promptly.Use of this technology results in lower property management costs, combined with greater convenience for everyone involved, including the guests. That spells a higher ROI and more positive ratings and reviews for your rental.Professional Property Management Con: Less Control Over Guests and ManagementSome real estate investors struggle with the idea of giving up control over their property. The idea of allowing someone else to vet potential guests, perform repairs, or interact with your guests can be nerve-wracking and worrisome.But this point only serves as a “con” if you fail to work with the right management firm. When you find the right rental management firm, then you'll feel comfortable giving it control of your investment property. You'll feel confident that your property will be managed it in a manner that is in line with your personal preferences and goals as a real estate investor.What's more, lots of rental management companies are happy to provide you with a custom service package in the event you'd like to maintain control over certain tasks.Professional Property Management Pro: Better Marketing and PromotionUnless you're experienced in the area of online marketing, it can be super challenging to get the exposure you need to maximize your ROI. Many vacation rental property management companies offer advertising and marketing packages, using landing pages, social media, and listings on major rental websites.Lots of property management companies also have a rental agency division that maintains contacts with hundreds or thousands of prospective guests, in addition to performing tasks such as vetting. Even without investing money in marketing and advertising, you could see a steady flow of visitors originating from your rental management company. That means higher profits!Professional Property Management Pro: Reduced RiskThe right property management firm can go a long way toward reducing risk, particularly financial risk. Well-written contracts and rental agreements can release you from some forms of liability, while also giving you the power to pursue a guest for any damages that result.You can also minimize risk by charging the right amount for damage and security deposits. For those who do charge a damage deposit, the system only works well if you have a property manager who can view the property immediately after a guest’s departure to identify any new damage.There’s a reduction in terms of the financial risk, too. For example, Rented offers a guaranteed income model that can protect you from losses that would arise when your property is vacant.By working with a property management firm that’s capable of overseeing bookings, you’re also more likely to keep your vacation home consistently occupied. And, you’re more likely to see the type of guests you’re seeking because your management company can use refined marketing strategies to match you to your preferred guest demographic.If you have ever thought about renting out a vacaction rental/Airbnb home with a professional manager, feel free to try this free tool from my company to see how much a professional would pay you to rent out your rental property for you.