Property Management FAQWhat can I do to increase rental income?
One of the best things is to discuss the optimal setup of your home with the Love Leavenowrth staff who will make some recommendations for improving rental income. Besides decent newer furnishings and décor, Internet access and a well maintained property make a big difference.
What amenities generate the most income in a vacation rental?
Since you can not change the location of the property you should do what you can to maximize the views. Little things like board games, books and a gaming systems can make a difference. Other more expensive features that help rental income are pools, hot tubs, game rooms and theater rooms. You can also allow pets.
Who is responsible for paying the utilities?
Utilities are an expenses the owner has to carry when they own a vacation rental property. There are not choices in this area for electric or water but phone, Internet and television do have choices. Often the local telephone company or cable company has a special on a bundle of services that makes these utilities relatively inexpensive.
Can I limit the number of people occupying my home?
Yes, you can establish the maximum number of people allowed. Also, not all rooms in your property need to be made available. Such as, a six bedroom home can be rented as a four bedroom, with two bedrooms made unavailable to guests.
What can I expect my first year?
Your first year will be a learning experience for you, if you are new to renting. You will learn how to prepare your property for rental, become accustomed to having guests in your home, and we will guide you throughout the entire process. Occupancy rates for first year properties can vary greatly depending on, the rental rate, demand for the type of property you own, and the time we are given to market the property. As time passes and your property receives more market exposure and attracts the loyalty of past guests, you can achieve 80-100% occupancy during the peak season. Low-season rentals vary based on your property’s appeal and price structure.
How will I be charged for work done to my property?
If a guest calls with a maintenance problem or a problem is identified by Love Leavenworth staff, we will not issue work orders in excess of $100 without your prior consent. However, if it is an emergency situation and we cannot reach you, we will do what is necessary to protect your property.
I’ve heard about people who rent on their own. Why should I use the services of your company?
Our home owners highlight three main reasons they use our services:
1. They save time using the turn-key services of a professional management company. Managing one vacation rental takes at least 8 to 10 hours a week. Many home owners have other jobs and cannot be on call to respond to the needs of guests 24/7. Or, they do not live close enough to ensure their home is safe at all times.
2. Other home owners acknowledge the specialized services inherent in the hospitality industry. They understand that renting their home is not as simple as putting up a sign or advertising online. It involves many things, such as marketing, securing reservations, following up on payments and delivering high quality, consistent housekeeping and maintenance services. Our owners acknowledge that by renting their home they have entered the hospitality business. Hiring hospitality experts can help them generate high earnings and repeat guests.
3. As the vacation rental industry grows, some home owners use our services to ensure they are privy to the latest technologies and strategies that secure bookings. They also want to be compliant with changing government regulations. From online bookings to revenue management and from lodging taxes to liability insurance, they look to us to provide the expertise and advice they need.
What happens if there is an emergency? Who does the guest call?
The guest calls us any time of the day or night. We have staff available 24/7, including maintenance technicians, we handle all guest emergency calls.
Do I have to allow pets?
No, that is up to you. We find that homes that allow pets are in demand, but whether you allow pets or not is entirely up to you. We have considerable experience with products and furnishings that are best for pet-friendly homes and we’re happy to share this information with you.