Are you considering buying a property in a tourist destination?
Do you want to generate extra cash renting it out through Airbnb or other channels?
Where do you even start?
In this one-on-one with Munro Murdock—broker/owner of Love Hawaii Realty—we talk about acquiring, managing, and optimizing the revenue of vacation rentals in popular destinations like Hawaii.
***IN THIS EPISODE, YOU’LL DISCOVER***
- Reasons why you might want to own a vacation rental.
- What kind of returns buyers can expect on rental properties.
- Why it’s not all about the return.
- Some pros and cons of owning a rental property.
- How to find peace of mind with whoever you have managing your property.
- Where to buy vacation rentals.
- Tips for landlords, even if they have a property manager, to get a good return.
- How to make sure your property is maintained appropriately.
- What it means to think from a guest’s perspective.
- How to not miss opportunities to convert an inquiry into a booking.
- Tips for operating a vacation rental.
- How to decide whether you can manage a property by yourself.
- Tips for hiring a property manager.
- Advice for vacation rental owners to get the most out of their experience.
- How to keep a pulse on the vacation market.
- How to enhance the guest experience.
- How to maximize the revenue of your vacation rental property.
- The role of reviews in vacation rentals.
- The importance of teamwork during this whole process.
- “When you look across the landscape of vacation rentals, there’s really something for everyone, and it’s just a matter of trying to match it up well.”
- “Operating a full-time vacation rental is a part-time job at the very least.”
- “A team always outperforms an individual.”
- “Regardless of how many properties we manage, we always want to offer the same level of care and professionalism.”
- “It’s not a set it and forget it business. It’s really not.”
- “There needs to be accountability on all sides.”
- “Owners that have vacation rentals need to be prepared and willing to re-invest some of the money into property care.”
***ABOUT THIS WEEK’S GUEST***
Munro Murdock is a high-energy, tech-savvy real-estate professional committed to continuous learning and growth. He brings a vibrant positive energy to everything he does and is continuously innovating in the fields of real estate and property management in Hawaii.
He founded Love Hawaii Realty and Love Hawaii Villas in Kapolei, Hawaii on West Oahu in September 2017, after working for several of the top five real estate brokerages in Hawaii. Munro’s entrepreneurial drive and ever-growing Team empowers him to consistently deliver a high-level of service to his valued Clientele.
Love Hawaii Villas, the vacation rental management division of Love Hawaii Realty, manages an exclusive portfolio of luxury oceanfront vacation rental condos in the Ko Olina Resort on West Oahu, sharing oceanfront beaches with the likes of Four Seasons, Disney Aulani Resort, Marriott’s Ko Olina Beach Club and soon-to-be, a newly constructed Atlantis Resort expected to be constructed in the coming years.
Munro leads a team of about 15 hospitality and real estate professionals who serve more than 4,000 vacation rental Guests each year, specializing in resort real estate and vacation rentals on the Hawaiian Island of Oahu.
***GET IN TOUCH WITH MUNRO***
Phone Number: 808-492-6242
***ABOUT THE SHOW***
Welcome to Luxury Real Estate Talk, where you get expert advice on buying and selling Luxury Real Estate. Learn from the best and brightest real estate agents, brokers, and other professionals, as they share real-life stories about the art and business of listing, marketing, selling, and buying high-end homes. Through casual but insightful conversations, the Talk’s host Rob Jensen will help you master your understanding of the luxury real estate market.
Rob is the president and owner/broker of the Rob Jensen Company, which exclusively specializes in working with buyers and sellers in 42 guard gated and select gated communities in Summerlin, Las Vegas, and Henderson, Nevada. Rob’s 15+ years of local industry expertise have made him a sought after real estate expert source with the media. He has served as a guest commentator for numerous national broadcast television networks including MSNBC and BRAVO. He has also provided content and commentary to The Wall Street Journal, Forbes.com, BusinessWeek.com, the Las Vegas Review-Journal, Real Estate Executive magazine, Growing Wealth magazine, and the Los Angeles Times, among others. Additionally, Rob has penned a recurring monthly real estate column for the Las Vegas Business Press.