| If you own a vacation home, chances are it is | | | | property will be one of many the manager is |
| one of your most valuable investments. You | | | | handling. |
| know you need to maintain it so it does not lose | | | | Caretakers are a better choice if you have |
| its value. Doing a good job at this on your own | | | | purchased your vacation home as a family retreat |
| can be a lot of work, and often times it is | | | | and are not interested in renting it out. Caretakers |
| impossible if you live more than a couple hours | | | | may work for property managers, or you can |
| away from your vacation property or you own | | | | hire them directly. Companies that specialize in |
| more than two homes. | | | | caring for the property are generally called home |
| Whether to hire a property manager or a | | | | watch or household concierge companies. These |
| caretaker is a simple decision if you know the | | | | companies are usually not required to hold any |
| difference between the two. However, not many | | | | particular license, and they specialize in property |
| people are aware that these are two different | | | | maintenance. They do not handle the exchange of |
| professions. | | | | monies when you choose to rent out the |
| Hiring a property manager is a great option if you | | | | property, so they are significantly less expensive |
| want to use your vacation home simply as an | | | | to hire than property managers. If you have a |
| investment property and are looking to earn | | | | particularly large estate that requires special |
| additional income from renting it out. Property | | | | attention, a caretaker is definitely the way to go. |
| managers are usually required to be licensed by | | | | You may want to hire one as a household |
| the state they are practicing in. The main | | | | employee, rather than going through a company if |
| responsibility of property managers is to handle | | | | you have a lot of ongoing maintenance and |
| renting out the property. Arranging for regular | | | | upkeep at your home. |
| maintenance and repairs are additional things they | | | | If your goal is to generate money from rentals at |
| do besides handling the rentals. The managers | | | | your vacation property, hire a property manager. |
| make most of their money by renting your | | | | If you purchased your vacation home because |
| property because they will take a percentage of | | | | you wanted a place to relax, unwind, and create |
| the rental fee. They are generally large companies | | | | family memories, hire a caretaker or concierge |
| that handle multiple properties. It is likely your | | | | company. |