Whether you buy a vacation home in Panama City Beach to enjoy from time to time and offer as a rental when you are not using it, or to offer as a short term rental all the time, buying a vacation home in a city you don’t call home can come with a set of challenges.
If you plan to manage your Panama City Beach vacation home remotely, here are a few things to keep in mind.
1. Automate whatever you can
For a minimal upfront investment, there are many aspects of a vacation home that can be automated. By installing smart home features like thermostats, garage doors, and locks will allow you to manage the home from anywhere in the world.
Whether a guest is in the home or not, you will be able to check on the temperature of the home, whether doors and windows were left open or unlocked, and keep tabs on the general status of the property. This is one way to limit the role of a property manager, saving you money and allowing you to remain more in control of your asset.
2. Determine what can be outsourced
As you know, maintaining a home requires consistent labor. Housekeeping, yard work, and seasonal maintenance require time, money, or both. As you shop for a Panama City Beach vacation home, consider factoring in the cost of outsourcing some of this labor into your overall budget.
Hiring housekeepers between guests is essential, of course. Yard work is something that might be covered by the HOA in the neighborhood, so make sure to inquire about this as you consider a property. Seasonal maintenance will vary depending on the property, so keep it in mind as you walk through the vacation home. Don’t forget to get quotes from services you are considering hiring to make a well-informed decision.
3. Secure the property
When a property is clearly a vacation home, lying vacant for periods of time, security becomes even more important. With housekeeping, lawn care personnel, and guests coming in and out of the property, it is vital to have security cameras in place to protect your vacation home. Smart home features that can allow you to access security cameras from anywhere in the world will provide added peace of mind, and are worth every penny.
4. Splurge for good Wifi
It may be tempting to opt for a budget-friendly WiFi in the home, especially if you plan to unplug a bit while you are on vacation. However, we do not recommend doing this for a couple of reasons:
- Your guests will want high speed internet access, a feature that may set you apart from competition
- Your smart home features, security, and automation likely depend on a strong internet connection
You likely do not need to the top tier internet, but budget for something that will keep guests from leaving poor reviews or leave you frustrated with the accessibility of your high-tech features.\
5. Consider hiring a property manager
In many cases, the best way to remotely manage your vacation home if you offer it as a short term rental is to hire a property manager or property management company. Services provided by property management companies will range, and you may be able to hire someone for just a few tasks to streamline the process of offering your vacation home to guests. You can expect to pay a property manager about 25% of the rental income from the property to handle noise complaints, collecting money, and other tasks that come up. Most property owners find this price to be well worth the time and energy they save.
To begin looking for your ideal Panama City Beach vacation home, contact us any time. We are ready to help you find your dream property.
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