Want to know more about
our services for Investors?
Our Services for Investors booklet details what we do, how we can help you and why Short-Term Rentals are such a great investment.
WHAT MAKES YOU STAND OUT FROM THE COMPETITION?
Our services are suited perfectly for the remote investor as we care for our clients‘ properties like they are our own and we keep great relationships with our clients. Many of our investors want to be very hands off and they just enjoy watching the payments come in without the hassle of the day to day operations. We offer a full suite of services 24/7 for short-term rentals. We handle every aspect of guest relations, marketing of the property, cleaning and we coordinate regular maintenance schedules and take care of any emergencies that arise.
WHAT IS YOUR FEE?
We offer a commission based pricing model. The rates vary depending on the size, quality and revenue potential of the property along with length of rental season you commit to. Owners can expect to keep 70% to 75% of the gross nightly revenue earned!
WHAT OTHER EXPENSES CAN I EXPECT?
If your property is already furnished with three full sets of bed and bath linens, owners can expect a small start up fee to cover initial technology set up and professional photography. Recurring expenses that are the owner responsibilities are: consumables guests use like paper products, toiletries and cooking essentials and all repair and maintenance expenses to keep to property in excellent condition.
HOW OFTEN DO I COLLECT PAYMENT?
Owner payments are made monthly, by the 15th of the month for the previous month.
HOW DOES THE CLEANING WORK?
We use multiple cleaning contractors. We train each contractor and their employees to our brand standards. We also employ an inspector to go in afterwards and ensure the property is clean, safe and guest ready. The cleaning costs are paid in full by the guest pay the contractors monthly. The cleaning expenses are covered by the guest and you shouldn’t expect any additional expenses beyond the initial clean, occasional deep cleans and any post-construction cleans due to maintenance or repairs.
MY PROPERTY NEEDS FURNITURE, HOW MUCH WILL THAT COST?
We have managed to furnish a 3 bedroom home for approximately $18,000. The most important investment is in the bed linens and mattress quality. We can help coordinate the interior design and furnishing of the property and have it set up to launch in as little as a week because we know where to look, what to buy and what works for a vacation rental property.
WHAT ABOUT THE TAXES?
In some tax jurisdictions, the Online Travel Agents (OTAs) like Airbnb and Vrbo, will take care of calculating, collecting, and remitting local occupancy tax on your behalf.
We highly recommend enlisting the help of a tax professional BEFORE collecting your first rental revenue from your short term rental to understand your tax obligations.
HOW DO YOU SCREEN THE GUESTS?
We get to know our guests with several points of communication before they book, and we keep consistent communication with them during their stay. Our guests know we are hands on with a very quick response time. With years of experience, we first engage with the guest to discover their intentions for visiting. There are telltale signs from their communication that help us decide whether or not to proceed with the inquiry or if not to let them know they would be better suited to stay elsewhere. Guests that come in via platforms like Airbnb must provide Government issued identification. For first time guests, we engage in web searches, social media exploration and check public government databases. If an unworthy guest does obtain accommodation we act quickly to evict them while still maintaining their full payment. If we wouldn’t rent our own properties to a particular group, we certainly wouldn’t be renting yours to them either.
WHAT ABOUT ANY DAMAGES TO MY PROPERTY?
Damages are rare but they do happen. We find mostly stained towels, sheets and broken glasses are the biggest casualties in short term rentals. Common wear and tear to the property tend to be the walls from suitcases. Often a magic eraser will help with those and other times a little wall patch and paint is used in between tenants to help keep the property look its best. The process of the recovery of funds needed to replace the damaged items is part of our service offerings and is all inclusive in our fees. We also utilize the Airbnb Host Guarantee which provides protection for up to $1,000,000 USD to a host for damages to covered property above the security deposit or if no security deposit is in place. This also covers things like fines from strata or bylaw for infractions such as noise.
DO I NEED TO REGISTER MY SHORT-TERM RENTAL PROPERTY?
Laws and regulations vary from city to city. Please contact your local zoning and tax offices to get more details. We strongly suggest you consult an attorney and/or a tax professional to learn exactly what you are responsible for.
WHY IS SHORT-TERM BETTER THAN LONG-TERM RENTALS?
Without a doubt, short-term rentals are better maintained than long-term rentals. First, there is a substantial difference in how long-term tenants treat the properties. Most short-term guests aren’t living in the properties but rather enjoying the surrounding area and simply using the home for rest and relaxation, leaving behind very little wear and tear. Secondly, our team is in your property after every stay, cleaning, maintaining and protecting your investment. Long term rentals come with more risk. You stand to earn more annually on a furnished rental sold by the night at opposed to a yearly tenant.
If you would prefer to receive a steady, predictable income each month, similar to what you receive from a long-term tenant then ask us about our lease model agreement.
WHAT IF I HAVE ANOTHER QUESTION?
If we didn’t answer your question, please don’t hesitate to ask. Please use our Contact Us page to submit your question. Someone will get back to you as soon as possible.
ph: (210) 538-1057
ph: (980) 326-2521