Q: How much money will I make?
A: Please send Sandy an email with the physical property address, and any other info on decor and amenities, and you will receive an income estimate within 24 hours. We will make you more money than other property management companies because:
- Your property will be on all the major VR sites (30+ in all).
- The iTrip web marketing system will get you more bookings than all the VR sites can deliver – organic search bookings comprise 20% of our total number of bookings. the bookings you get from the 30+ sites.
- Our commission rate is a low 30%, so you keep more of what you make.
Q: Can I be assured that rental guests won’t abuse my home?
A: We review house rules and requirements with each guest party to ensure they understand them. House rules are customized to each property. We do not allow anyone under 25 to reserve our properties. We are lucky to live in a market that serves typically a very respectful and high caliber guest pool. Most guests take good care of the home during their visit. In the very rare event there is damage or loss, we cover most guest damage unless it’s concealed and difficult to detect, or it’s wear and tear. If the damage is caught at our check-out inspection, then the guest is charged when they don’t report it to us.
Q: How are rates set?
A: We have a cutting edge software tool we believe sets us apart in our ability to optimize your income. We manually perform a thorough search of an unlimited number of comparative properties, and use the price and occupancy data provided by our partner HomeAway as the basis for the report. The software actually recommends pricing! As check-in dates get closer – we re-pull the data since price and minimum stay requirements contract as the check-in date approaches.
The fact that it’s virtually impossible to do this manually severely impacts the quality of the decisions made on pricing and minimum night stay requirements. Unless market data is used on a recurring basis to make those iterative tweaks to pricing that make a difference, you are simply not making the money your property is worth in the marketplace. We have the tools!
Q: Who handles cleaning?
A: We use one, large, well-established extremely high quality cleaning company in Breckenridge. They use our online calendar to schedule cleans, and we have devised a system whereby we can accommodate most parties’ requests for their arrival and departure times with careful coordination, especially on back-to-back days, when one guest party checks out in the morning, and another checks in the same day.
In our drive to provide the best service of any property manager, we can compete with property managers with in-house cleaning providers that can easily offer custom arrival scheduling. Our software enables us to efficiently gather guest access information, our cleaning company coordinates it directly with the guest on whether the times requested by the guest, especially on back-to-back days, can be approved.
They are in the same building as the largest linen provider in Breckenridge, and they provide high quality guest toiletries, paper products, household goods, and a starter pack of coffee!
Q: How are reservation inquiries handled?
A: Guest inquiries are accepted by phone and online 24/7/365. Online bookings are made instantly through our software integration with our booking partners. When a request is made through a booking site, the guest receives an automated, bookable link with a quote from the iTrip system within 3 minutes. Our reservation agent is a virtual employee who answers calls virtually around the clock, since most calls generate bookings and she is paid on bookings.
Q: How are sales and income taxes handled?
A: We collect sales tax and remit to the State of Colorado and Town of Breckenridge on your behalf. Regarding income tax, by Feb 15th, a 1099 will be sent to you for your revenue.
Q: Do you restrict owner use of the property?
A: Owners have unlimited use of the home for your immediate family, extended family or friends. You can charge your guests anything from 0 to only a 5% discount. We can also merely charge your guests for the cleaning fee.
Q: How and when do I get paid?
A: At the close of each month we send a statement of all activities associated with your home via e-mail by the 15th of the following month. Distributions are submitted by the 15th of the month following the previous month’s bookings via Wells Fargo Direct Pay. Click Here for Description of Direct Pay at Wells Fargo
Q: Do I need a license to rent my home?
A: Yes, a license is required by the Town of Breckenridge and we completely handle it for you as a maintenance item that appears on your statement and is deducted from your rental proceeds in December. Click for Details on the Town of Breckenridge Site