VRS022 - Your Burning Vacation Rental Questions Answered - Vacation Rental Formula

VRS022 – Your Burning Vacation Rental Questions Answered

In our part of the world (Ontario, Canada), we have to wait until the spring before we can get to many properties that have been closed up for the winter. May is the hot month for listing new cottages onto the rental market as sales close and the snow finally disappears, and I’ve already been out to over a dozen potential vacation rentals to view them for my rental agency. In sitting down with so many owners to discuss their questions and concerns, the same ones come up over and over again, and much of my time is spent dispelling the myths of rental. These are generated by the media, other owners who haven’t heeded popular wisdom and have rented indiscriminately, and general fear of the unknown.

This episode explores the common myths of vacation rental and answers some of the most commonly asked questions.

questions

This episode includes:

  • What does an agency do and why do they charge so much?
  • Damage deposits – do we need to collect them and what happens if the place burns down?
  • What does rental insurance cover and why do we need it?
  • Why do we need so much liability cover?
  • Why should we accept pets and should we charge for extra cleaning?
  • How do we prevent overcrowding?
  • How to we manage our property from a distance?

 

This episode mentions:

Vacation Rental Guide to Property Management

Why You Should Use A Vacation Rental Management Agency

Are Your Cleaning Staff In The Hospitality Business?

VRS021 – Rex Brown – Successful Vacation Rental Owner Series

VRS017 – Are you Covered or Exposed with VR Insurance Specialist Phil Schofield

Home Away Community – One of several discussions on damage deposits

Vacation Rental World Summit June 13th – 15th ( This is a free online event)

 

Do you have a burning question or need an experts answer to something that’s just been bugging you for a while? Put your question in the comments below and we will present that to the subject expert.

Amy Blomquist

Another great podcast! We don’t collect a damage deposit but do collect a $39 damage insurance fee. Never had any problems and we’re trusting in our guests that if something very big did happened they would pay for it. I agree, some things you just eat like a broken wine glass – which means they must of had a good time right? 😉 Actually, we’ve had a few guests email or leave money for a chipped plate or glass! I always give the money back. I’m so impressed how honest people can be and that reconfirms why we don’t collect a deposit.

Comments are closed