Question 1

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

Accepted Answer

20-23% management fee. The only additional fees incurred by homeowners are optional damage insurance and any maintenance that has to be conducted.

Question 2

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

Accepted Answer

We have an entire corporate marketing department who dedicates their time to optimizing listings on over 30 national and international OTA (online travel agency) websites! Our marketing strategy is to ensure our properties are visible to about 90% of travelers who are looking for vacation rentals, and our marketing does not stop at prospective guests. We also continually market to past guests to encourage them to book homes across our entire franchise network.

Question 3

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

Accepted Answer

As a full-service property management company, we coordinate every aspect of maintenance whether its scheduling cleaning after a guest stay, sending out a HVAC tech if the AC stops working, scheduling pool maintenance etc. Also, after any maintenance is conducted, someone from our team will go inspect the work to ensure that it was done properly.

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

Homeowners have direct communication with our management team. We provide detailed monthly income statement reports, annual income reports, tax reports, and owners have a dedicated owner portal where they can block dates, schedule maintenance, make reservations for friends/family, etc.

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

Our corporate accounting department paired with our transparent monthly owner statements give owners piece of mind that they're getting optimized revenue and aren't being nickel and dimed.

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

We use enterprise level property management software to manage operations and bookings, we equip homes with concierge tablets so guests have virtual access to any and all information about the home, its amenities, and recommendations for local favorites.

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

Since we are a franchise business model, we give homeowners the best of both worlds when it comes to property management. We have the internal infrastructure and capabilities to cast a national net to market to and attract guests from all over while still providing the individualized and personalized service that homeowners want from their property manager. In addition, as a part of our service offering, at no cost to the homeowner, we can provide all the necessary linens and terry for the property, each home is equipped with a guest concierge tablet, we provide welcome baskets for each guest to help them settle into their stay, and all of our properties are enrolled in our linen program which offers off-site professional laundering and folding to keep the linens in the best condition possible for as long as possible.

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

All guests are required to pay a guest damage waiver fee which covers the cost of small incidentals. In addition, as an option, we offer a comprehensive damage protection insurance plan that covers incidents during a guest's stay. The damage insurance has protections for loss of income, protects against liability claims, structural damage, bed bugs, and more.

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

We use dynamic pricing software that monitors travel trends on a national and market-specific level. In addition, since we are local, we are able to manually adjust pricing based on any local events that may be driving an increase in tourism, so again homeowners get the best of both worlds.

Question 10

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

Accepted Answer

Yes, we are involved in local networking groups and take part in local initiatives. We also partner with local companies to handle all of our maintenance needs.

Grand Welcome New Braunfels

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