Question 1

1. Commission & Costs: Please explain your commission structure and any additional costs a homeowner might incur.

Accepted Answer

Porter VRM's commission ranges from 20 to 25% and varies depending on the nature of the property.

Question 2

2. Marketing: Please detail the strategies you utilize to market properties to guests.

Accepted Answer

Our results-driven marketing team is dedicated to your home's success, and pursues a broad marketing strategy, engaging with our audience through a direct booking site, email, social, SMS push notifications, Stayfi Wifi Routers, and more! At the same time, we employ targeted paid campaigns on Google and Bing to maximize reach and visibility. We also work closely with third party OTAs (online travel agencies, such as Airbnb and Vrbo) to ensure a comprehensive and effective marketing approach. Our marketing strategy reflects our commitment to deliver the best financial results possible for our owners, and we lead the market in occupancy and revenue generated per calendar night.

Question 3

3. Cleaning & Maintenance: Please outline your property management services, including but not limited to cleaning, inspections and maintenance.

Accepted Answer

Between every stay, our local teams inspect your home one to two times per reservation, ensuring the very best product in terms of housekeeping and maintenance for any guests visiting the property. Our team monitors your home, and reports and maintenance or repairs needed on a regular basis. We conduct inspections proactively of the interior, exterior, plumbing, electrical and appliances, completing these inspections with seasonal considerations to catch potential issues before they arise. We also install smart technology into our portfolio of homes designed to protect your property and keep your community undisturbed.

Question 4

4. Communication & Reporting: How do you communicate with homeowners and what types of reports do you provide? Who will I be working with on your team? Will I have a dedicated representative or a team approach?

Accepted Answer

When you work with Porter, you're working with the very best in the vacation rental industry. We provide personalized communication with our homeowners via our Owner Relations department, which acts as a liaison between the owner and our broader operation.

Question 5

5. Financial Management: Please discuss how you handle financial management for the properties you manage. Do you follow trust accounting principles?

Accepted Answer

Porter VRM follows trust accounting principles. We have a dedicated Accounting Department to ensure all statements are issued in a proper and timely manner, and typically pay owners on a monthly basis.

Question 6

6. Technology: What kind of technology do you employ and how does this technology provide benefits to both homeowners and guests?

Accepted Answer

Porter VRM uses several technology providers, including Streamline property management software for our general operations and Beyond Pricing for our dynamic pricing software. Our goal is to leverage technologies as much as possible to the benefit of our owner-partners, and we're often early adapters to changes occurring in the industry.

Question 7

7. Differentiators: What unique aspects set your company apart from other property management companies, especially in terms of advantages to homeowners?

Accepted Answer

Porter is one of the fastest-growing property management companies in the south western United States. We owe our rapid growth to our dedicated operations team that provides an attention to detail unmatched in our industry. We've also embraced changes in technology, leveraging this so that our operations team can produce best-in-class results.

Question 8

8. Guest Damage: What is your approach to managing damages caused by guests? Do you require a security deposit or offer damage insurance? If you opt for insurance, how do you establish the coverage details?

Accepted Answer

Porter collects a damage waiver fee from our guests which helps to cover the owner from accidental guests damages while in residence with Porter. The coverage amount varies by size of property but is meant to cover minor damages not suitable for an insurance claim, such as a broken blind or a damaged chair. Guest damages tend to be minimal with Porter due to our guest vetting process, and we find an ounce of prevention is worth a pound of cure when it comes to protecting the home from guest damages.

Question 9

9. Revenue Management: Please explain your strategy for revenue management? How do you determine pricing to optimize earnings? Do you utilize dynamic pricing software, manage rates manually, or employ a combination of both methods?

Accepted Answer

At the core of Porter's revenue management strategy is our belief that maximizing visibility of a potential rental will maximize the potential revenue achievable at a home. Our pricing is geared to improve your home's visibility and ranking in the marketplace, and regularly produces above-market occupancy, ADR's and RevPAR for our homeowner base. Rates are adjusted using Beyond Pricing, a dynamic pricing software, and there is also manual adjustments throughout the week as demand changes. We believe using a combination of manual and automatic adjustments allows us to produce best-in-class pricing results, and we relish beating our competitors in terms of net revenues to our owner-base.

Question 10

10. Community Involvement and Reputation: Are you involved in the local community and do you support local initiatives?

Accepted Answer

Porter's local field operations work closely with your community to address concerns proactively as good neighbors. We ensure your home is compliance with any local vacation rental regulation. We're deeply involved in the local community, and we love to support initiatives, events and small businesses with our efforts!

Porter

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