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About our Services to Vacation Rental Owners (FAQ)

Condo in Vail
24 Jul 2015
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FAQ

Many owners ask for information about our management services for Vacation Rental Properties. We are happy to answer your questions, so please feel free to call 970-476-4262 or email res@vailmanagement.com. In addition, we also created this archive of frequently-asked questions (FAQ) for your easy reference. This information applies to individual owners of condos and homes. If you are looking for management of an entire building, please contact us.

What does Vail Management Company do?  We provide full-service management for property owners who wish to rent their condos, townhomes, or homes without the hassle of doing marketing, reservations, housekeeping, maintenance, and accounting themselves. For the Vacation Rental (or Short-term) program, we obtain primarily nightly rentals, and sometimes longer monthly rentals (with the owner's permission) in the off-season.

What about year-round monthly rentals? Year-round monthly rentals are available through our Long-term Rental program, which is not covered by this FAQ. Please contact us for more information.

Where does Vail Management do rentals?  We manage Vacation Rentals in Vail, Avon, and Beaver Creek. Vacation Rentals do not work well in Eagle-Vail, Edwards, or Wildridge (although we do Long-term rentals and HOA management in these locations). And we are not currently operating anywhere outside these areas.

What is Vail Management's fee? 40% of the gross rent. At the end of each month, we pay the owner 60% of the gross rent for all rentals that were paid in full and departed during that month. Sometimes, with the owner's permission, we obtain longer rentals. If a rental is over 30 days in length, our fee is reduced to 25%, and the owner gets 75%.

What if the property owner refers a renter to Vail Management? Vail Management will reduce the management fee on this rental from 40% to 30%. In these situations, we collect the renter's money and provide all our usual services.

Can the owner list the property with more than one rental agency, or obtain rentals him or herself?  No. Our management agreement is exclusive. There are several practical reasons for this, not the least of which is our commitment to quality control for the renter's experience. The owner may refer renters to us, as explained above, but they must be identified as such. The owner may not block off "guest of owner" usage and take money from a guest, other than expenses incurred like housekeeping.

Does Vail Management charge extra for linens, travel agents or credit cards? No. Unlike many of our competitors, Vail Management includes travel agent commissions, credit card fees, and housekeeping for paying guests in our 40%. Many other management companies will take the commissions and credit card fees off of the gross rent before calculating their management fee. Their strategy results in the property owner receiving less income. Vail Management, on the other hand, pays 60% of the rent to the property owner regardless.

What is included in Vail Management's fee?

  • Photography
  • Marketing and advertising
  • VailManagement.com listing and promotion on search engines and other sites as needed
  • Travel agent and wholesaler commissions
  • Credit card fees
  • Housekeeping for all paying renters
  • Our sheets, pillowcases, and towels, laundered off-site
  • Toilet paper, soap and other expendable supplies
  • Customer service, including 24/7 on-call personnel
  • Ownerlink, our private owners' area on VailManagement.com

 

What does the property owner pay for?

  • Housekeeping for owner use and non-paying guests of the owner, at the rate of $30 per maid-hour. We also require a thorough Fall Clean once per year, billed at the same rate.
  • Occasional carpet and furniture steam-cleaning, and laundering of pillow shams, comforters, etc, as needed.
  • Lodging Quality inspections, done by the Vail Valley Partnership once every 18 months. Rate varies from $80-$150, based on the property's size.
  • Monthly accounting fee from $15-$50
  • Utilities
  • Firewood, as needed
  • Property maintenance and interior decor, as needed.
  • (This list may not be exhaustive)

 

What does Vail Management do in the event of theft or damage to the property caused by a renter? In our experience, after many years and thousands of rentals, this is not as big a problem as new owners think it is. Theft rarely occurs, and damage is usually limited to things like cooking burns, food spills, and stains. Accidents happen! So we do require a credit card and a signed damage waiver from all renters. We charge them if the damage is significant and was preventable. We don't charge the renters if an occasional fork goes missing or if there is normal wear and tear to the carpets, for example.

Our management contract, labor rates, and Lodging Quality standards are available upon request. Please contact us for more information.