Costa Rica Property Management
How to Find the Best Property
Management Service for your
Don't forget to book your vacation rentals with us
Special Places of Costa Rica
Kenny Segers
Director of Operations
Special Places of Costa Rica
Choosing the right Property Management Service is a key decision that will provide years of worry-free enjoyment and peace of mind…or not.
That’s why we put together this report on how to find the best property management company for your special needs.
The information included in this report is the culmination of years of research and experience in the property management and hospitality industries in Costa Rica.
Rather than a long list of information that could feel overwhelming, we have assembled this report in a series of questions that you can use to interview any property management company and seek out the best service provider for your situation.
Please include Special Places of Costa Rica on your list of property management companies. Our goal is to provide you with peace of mind that your valuable property is well cared for, and is making you money, while you’re away.
Whoever you choose to manage your property, we thank you for loving Costa Rica and adding to the Pura Vida spirit of this special place.
Pura Vida!
Kenny Segers
Director of Operations
Special Places of Costa Rica
Real Estate Broker or Property Management Service?
What’s the difference?
In-house professional staff or contractors?
Guest services, housekeeping, property maintenance, and accounting can all be contracted out and may seem financially beneficial for the company providing the property management.
However, committing to building an in-house team of dedicated professionals gives a management company the ability to provide better and faster service to both property owners and guests.
When a property emergency arises, a dedicated staff that is just a phone call away, who already knows the property and is ready to respond, provides the ultimate level of service and the best value for all involved.
A company that relies on contractors cannot possibly provide this kind of service when it counts the most.
Taxes or No Taxes?
Some management services promote the idea that you don’t need to pay taxes in Costa Rica!
While Costa Rica is still a developing nation and has relatively low taxes, they still need to be paid to avoid penalties…or worse. Over the last few years, Costa Rica has started enforcing the tax code by imposing penalties, in some cases, in the 10’s of thousands of dollars.
Taxes must be paid and a good property management company should understand the laws and provide good accounting services. The best companies take it one step further and are actively engaged with the local and national governments to stay on top of the changes to tax law and make sure their clients are always compliant.
Effective Multi-Channel Marketing or Just a Few Listings?
The marketing of your rental property is no longer optional. In today’s competitive rental markets it takes more than a listing on AirBNB to keep your property booked and profitable. A good property management company should be, at a minimum, listing your property on all online travel agencies(OTA’s).
Beyond that, there are many creative ways to significantly increase the exposure of your property to potential guests.
Social media marketing and email marketing can be extremely effective in exposing your property to potential new guests and enticing previous guests to enjoy your space again in the future. In addition, local print advertising is an effective way to reach out to folks already in the area who may want to extend their stay.
Like everything else, there is a right way and a wrong way to use these platforms to your benefit, so having a resident expert and a proven strategy is critical for long-term success.
Dynamic Pricing and Single-Point Management?
Making your rental property as profitable as possible and its management as simple as possible is the goal of a good Property Management company. Technology is advancing quickly in the vacation rental space and should be used to help accomplish these goals.
Dynamic Pricing means that prices are adjusted as local demand and supply fluctuate. During the high season, you may see prices adjusting minute-by-minute as properties become scarce while the demand stays high. Cutting-edge software monitors dozens of factors affecting the rental rates of your property and optimizes the price in real time.
Single-Point Management software allows property managers or property owners to change prices or availability instantly and update all marketing channels simultaneously. What used to take hours and was prone to mistakes can now be done accurately in just a few minutes. This technology eliminates the chance of double bookings and maximizes the total number of nights booked and revenue generated.
Concierge Services or Basic Frills?
The value of a good concierge is their network. The concierge is the entry point to a world of experiences that would otherwise be missed by a visitor. Guests and property owners alike want a special experience and a good concierge is priceless in providing these experiences.
Whether that is a private chef, an ATV tour, a catamaran outing, or a hike to a secret local waterfall for a day of swimming, a concierge should be able to provide these things with ease.
A property management company that employs a full-time concierge is dedicated to providing the best, most memorable experience possible. This service is often ignored by property management companies who rely on a few brochures instead.
Great communication with every guest is important and a dedicated concierge will bring a new level of excellence to your property.
Flexible Fee Structure or a Flat Rate?
Property owners have different goals concerning their properties and a fee structure should be flexible enough to provide good value.
And, what if a property books a guest on their own, should they be obligated to the normal commission structure? Probably not. So, make sure you fully understand the management fee structure and ask questions about scenarios you could see happening in your situation.
Bonus Questions
Property Owner Perks?
As the Property Owner, and the life-blood of a property management company, you should enjoy a few perks.
One good example is commission-free bookings for family and friends. A good company will treat the folks that are special to you as well as they treat you.
Be sure to think about any unique requests that you may have in the management and use of your property and confirm that the company is willing and able to provide these services.
Why Special Places of Costa Rica?
The bottom line is that we love what we do, we listen to our guests and clients, and communication is a priority at Special Places
We understand that TRUST is paramount and we will work to earn your trust for as long as we may work together.
We believe we provide the best property management services in Costa Rica, so why not give us a call and ask us those questions? We’d love to answer them for you.
Pura Vida!
Kenny Segers
Director of Operations
Special Places of Costa Rica
