[stextbox id=”info” caption=”THINKING OF GOING IT ALONE ? LOOKING AT WHAT YOU NEED TO DO TO SET UP YOUR PROPERTY FOR RENTAL. READ BELOW FOR SOME USEFUL TIPS. CPM OFFER RENTAL ONLY PACKAGES IF YOU DECIDE YOU WANT TO DO MOST OF THE WORK YOURSELF AND CAN SUPPLY INDIVIDUAL SERVICES OUTSIDE OF A PACKAGE TO ASSIST IN THE RENTAL PROCESS ” shadow=”true”] [/stextbox]
- o Check the short-term rental laws for your municipality
- o Check requirements for business licenses and paperwork.
- o Check safety requirements and health code regulations for your municipality.
- o Research and purchase an insurance policy for holiday rentals, including guest insurance
- o Create a rental agreement. Include clauses for the following:
- Security Deposit Refunds
- Total Payment Due
- Instructions for Submitting Payment
- CC Authorization
- Cancellation Policy
- Inclement Weather Policy
- Pet Policy
- Smoking Policy
- Rental Restrictions
- Maximum Occupancy
- Minimum Stays
- o Review information on applicable tax deductions, capital gains requirements.
- o Research Tourist taxation on rental and / or occupancy tax rate for short term rentals in your municipality
- o Determine your rental goals and break-even point.
- o Set your pricing structure (nightly, weekly, monthly) and rates.
- o Devise a method for tracking and recording payments and expenses.
- o Determine your methods for accepting payment – credit card merchant account, PayPal, Moneybookers etc.,
- o Develop a payment schedule
- o Create a deposit refund strategy
- o Find a reliable property manager for , meet and greet, housekeeper or cleaning service and maintenance person. Paying cash to locals is not a good idea. Ensure they have an Obert are part of a DOO. Or employed by the Management Company
- o Create a cleaning/housekeeping check- list and photo manual
- o Review cleaning checklist and process for check-in, checkout and keys with management
- o Create a maintenance list
- o Prepare a Villa Book with usage pamphlets of all equipment ,guest behavior and local amenites/attractions
- o Complete maintenance projects and renovations.
- o Winter checks and maintenance is crucial
- o Furnish your home based on target renters and according to categorization guidelines.
- o Determine your rental market
- o Create a list of items to purchase for rental licence and target market
- o Purchase necessary items and save receipts!
- o Create a property inventory list of items in your home. Include photographic inventory and prices
- o Purchase a complaints and guestbook.
- o Purchase local attractions books.
- o Gather coupons, local attraction/activity brochures and menus from local restaurants and put them in villa book
- o Review portal websites and specialty websites to determine options for advertising your property.
- o Set up accounts with 3 to 5 paid listing sites, upfront mixed with commission sites as well as free ones and a facebook page and twitter
- o Create a headline, property description , google map and location description.
- o Stage your home for photos.
- o Take multiple pictures with a digital camera at different times of day or hire a photographer.
- o Create captions for each photo.
- o Set up a calendar
- o Research virtual tour services and You tube
- o Purchase domain/email address for personal site and professional email correspondence.
- o Set up Facebook page and Twitter account, linking to portals for bookings or to Property Manger
- o Link to listing site(s) from personal website.
- o Determine procedure for booking management with your property manager
- o Proofread your personal site and listing sites.
- o Send an email to everyone in your address book linking to your personal site and new listing(s) and add to your facebook profile
- o Set up an auto-responder for inquiries.
- o Create standard responses and a sample confirmation email.
- o Build a thorough set of directions and google map
- o Build a list of instructions for using appliances, electronics and equipment at your property and leave in Property Book
- o Determine method for getting keys to renters.
- o Create a check-in procedure.
- o Create a checkout procedure.
- o Set up an emergency contact sheet, fire escape instructions and procedure and put in Villa Book
- o Put together local vacation tips for your guests.
- o Include transfer and taxi information as well as local car hire company