6 Characteristics of a Successful Rental Manager in Breckenridge

  1. Booking capabilities on all major guest web sites
  2. Market pricing tools, full market data & expertise
  3. In-house, competent & local staff
  4. Superb guest review results
  5. Rental management focus
  6. Property care not a disproportionate profit center

Deeper Dive on Each of the 6 Laws of Vacation Rentals

  1. Large vacation rental market events since August 2016 have had a very large impact on our market. AirBnB has taken hold.  VRBO is not nearly as effective in getting top bookings since the inventory on the site has grown dramatically in Summit county (over 2x in Breck)!  Without a presence on many booking sites, properties will not make what they are worth.

 

  1. How does your VRM (Vacation Rental Manager) adjust rates and minimum stays over time to maximize income? Great VRMs earn far more than the cost of commission in this area alone!  They must have access to full market data, tools and market knowledge to manage your pricing for maximum income.
  2. Having locals dedicated only to the business of your rental partner is a basic requirement. Third party companies with other customers may exercise their option to prioritize your urgent call onto tomorrow’s to-do list.  Holidays can become a nightmare.
  3. Guest review count and performance determines your property’s ranking on the booking sites – page 1 or 10! VRM must have strong review results through a rigorous process of both chasing and attaining lots of great guest reviews.
  4. Strong vacation rentals now require so much more expertise and focus than just one year ago, that partnering with a VRM who is focused only on vacation rentals will tend to yield better results. Selling real estate and HOA services both have licensing requirements, large bodies of knowledge, continuing education and regulatory oversight.
  5. VRMs that treat property care as a reasonable share of profitability have no incentive to engage in dysfunctional behaviors that undermine strong owner partnership. Some have emerged that charge low commissions, only to profit disproportionately on $35 light bulb changes!  Some companies do the same, and charge 40%.  There are better options now for your clients.
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