Owners Information Booklet

Download File

Table of Contents 

1. Investment Property v/s Vacation Home
2. American Patriot Getaways…We’re different
3. Re-investing In Your Investment
4. Choosing the Right Market for Your Property
5. Rental Revenue – What to Expect
6. Advertising…The Art of Finding Guests
7. Reservation Services
8. Differing Rates per Night
9. Cleanliness of your Investment Property
10. Damages and Missing Items
11. What Can I Do To Make My Property Rent More
12. Maintenance Calls 
13. Approval for Maintenance
14. Property Owner / Property Management Relationship
15. “The Good…The Bad….And The Ugly”

Partners

The investment of our Partners goes beyond their initial investment to include their active participation in reinvesting to maintain and update their properties. Our Partners recognize this need for reinvestment to ensure a competitive edge in the ever changing overnight rental market. They are our Partners in the truest sense of the word. We work to keep them fully informed about the direction of our company, the performance and maintenance of their properties as well as the improvements needed to stay competitive. The key to success is how well we work together to enhance the value that each of us brings to our partnership. We recognized that our Partners and our Guests are the cornerstones of our business and we will not sacrifice the interests of one for the interests of the other.

The Patriot Promise

At American Patriot Getaways, we recognize that our Partners are the cornerstone of our business.

By providing clear direction and developing an understanding of the business of hospitality, we encourage growth and maximize the performance of each property to the benefit of each Partner and the company.

American Patriot Getaways encourages a partnership with open discussions keeping one another fully and truthfully informed, where we ask one another for opinions and respond in a timely manner, we act ethically by honoring our agreements, we work for timely resolutions of disagreements and we are committed to building long-term growth in the value of American Patriot Getaways and the quality of the relationship with our Partners.

 

I.  INVESTMENT PROPERTY V/S VACATION HOME

 

If you have recently purchased a property or are considering a purchase, more than likely, the realtor indicated that the property would generate a great income…pay for itself…while you could enjoy the personal use of the property.  While generally this is true, there is a little more to consider.

The first thing that you must realize is the difference between an “investment property” and a “vacation home”.  An investment property will be shared with hundreds of total strangers each year.  They will not be considerate of Aunt Sally’s antique lamp on the fireplace mantle or your great-grandmother’s wedding picture on the wall.  It is true that you will have access to use the property for your own use, but it may not be available for use on holidays and popular vacation times.  You may have relatives that are excited about your property because they’ll see it as free vacation lodging. Every night a relative stays “free” is one night less rental revenue you will have.  Are you getting the picture?  If it’s your own vacation home, you control who stays and when they stay.  An investment property is purchased to make money, not serve as a vacation home for your family.  Remembering the difference between an investment property and a vacation home will help you make many of the upcoming choices and decisions.

 

II. AMERICAN  PATRIOT  GETAWAYS -  WE’RE  DIFFERENT

 

Every property management company is different. Our philosophy, at American Patriot Getaways, is to combine modern technology with good ole’ southern hospitality.  Our technology gives us the information we need and streamlines business. Our people provide the hospitality and warmth that keep our guests coming back year after year.

American Patriot Getaways offer an interactive web site for the convenience of our guests and owners.  Prospective guests can visit our web site using most of the major searches on the internet.  Common search words are: Gatlinburg, Pigeon Forge, Smoky Mountains, Gatlinburg properties, etc.  Most of our advertising dollars are spent on being the #1 site on all of these searches.

Our web site also offers some special features for our owners.  Just as potential guests can check availability, you can also check the reservations for your property.  Each owner is given a user id and special pass code that allows them to look at information about their specific property.

With the increased use of the internet, we have seen a shift in the nature of the property rental industry.  In the past, properties would book 3-6 months in advance.  Today, however, people are more likely to book 2-4 WEEKS in advance.  The larger properties will still book further in the future, but the smaller 1 and 2 bedroom properties tend to book only a few weeks out.  Since APG owners can look at their future reservations at any time, it is important to know the cycles and tendencies of the business. 

 

III. REINVESTING  IN  YOUR  INVESTMENT

 

One important factor that many first-time property owners fail to calculate is the cost of maintaining their investment.  You will not only need to make routine repairs, but there will also be wear and tear on the furnishings in your property.  Consider that if you own a two bedroom property that sleeps six people, 400-500 people will make themselves “at home” on your furniture each year.  They will eat food in the living room, spill drinks on the sofa and put their feet on the coffee table.  Some of them will be children; some will be adults that have had too much to drink.  They are thinking about having a good time and, as far as your property is concerned …“it’s a rental!”

You may ask, “Can’t American Patriot Getaways screen the guests that stay in my property?”  The answer is, to some degree we can, but we do offer online booking and it’s not possible to screen these guests.  We do our best to make sure guests are aware of the rules by including a copy of our lodging policies with each reservation confirmation.

It is wise to plan that every 2-3 years, you will need to refurbish your investment.  This may mean as little as new bedspreads and pillows, or it may mean new pieces of furniture and re-staining the outside of your property.

Keeping your property updated is especially important for American Patriot Getaways property owners since most potential guests view properties on our web site before choosing the property they will rent.  Also, the condition of your property will determine if a guest wants to return to American Patriot Getaways and your property.

 

IV. CHOOSING  THE  RIGHT  MARKET  FOR  YOUR PROPERTY

 

We want to help your investment earn as much revenue as possible.  The rental ratings are created so that your property will be competitive within its classification.  As your property management partner, we will honestly evaluate your property and set the rating and the per night rate.  If your property is rated below where you think it should be, we will be glad to meet with you to discuss what upgrades need to be done to get the higher rating.  We have found that when properties are boarder line four or five star, they will do better at the lower rating because then they are the “best” of the lower rating.  When a boarder line property is put into the higher rating, then it is usually not competitive with the other properties which results in less rentals. We want to make sure that potential guests are comparing apples to apples and, even more important, shiny apples to shiny apples.   It is important to remember the goal is to have your investment earn money for you.

 

V. RENTAL  REVENUE – WHAT TO EXPECT

 

While we do monitor occupancy rates to track the effectiveness or our advertising and the “closing” rate of our reservationists, it is not a very accurate method for gauging the return on your investment.  Typically, we find that using the revenue generated on a yearly basis is a more accurate way to measure the success of your property under American Patriot Getaways management. 

While even using this figure isn’t an exact science, you can be sure that we are equally motivated to book your property for as many nights as possible.  In short, if you don’t make money, we don’t make money.

Another thing to remember when setting your revenue expectations is to give your property time to become profitable.  Every new property takes at least 6 months to begin to see any type of steady revenue. To properly evaluate the success of your property under any management company you need to have it on the program for 12-18 months.  Looking at 2 or 3 months’ revenue is very distorting.  The annual revenue is a truer picture of your properties success.

 

VI. ADVERTISING…THE ART OF FINDING GUESTS

 

The majority of our advertising is done on the internet.  We pay fees to the top search engines on the internet to be sure that American Patriot Getaways stays in the top three selections on all the major search words.  We also have contracted with several major travel web sites to feature American Patriot Getaways and our property inventory. The internet is becoming a very competitive market place as companies see the ever increasing number of customers that go on-line from the comfort of their home or office to do business.  American Patriot Getaways has contracted with one of IBM’s premiere business partners to design a state of the art interactive web site.  Potential guests can view pictures of the properties, check availability and even book their reservation on-line.  We can even offer virtual tours of properties, utilizing the IPIX software.   As a property owner, you will be able to visit the web page and, with a special password, you can view the estimated revenue for your property each month, place owner and maintenance blocks on your property and review detailed information about maintenance performed on your property, all in real time.

In addition to our user friendly web site, American Patriot Getaways runs ads in several tourist publications in the area, various newspapers, Football and Basketball Programs throughout the Southeastern Conference and several major magazine publications including Southern Living, Southern Bride, Weddings – Southern Style and At Home Tennessee, to name a few.

 

     

 

   

 

 

We are one of the official corporate sponsors of the 2007

Southeastern Conference Men’s Basketball Tournament.

 

 

Press Release

American Patriot Getaways newest Official 2007 Southeastern Conference Men’s Basketball Tournament Corporate Partner September 1, 2006

GATLINBURG, TN. –American Patriot Getaways, based in Pigeon Forge, has signed on to become the "Official Getaway" for the 2007 Southeastern Conference (SEC) Men’s Basketball Tournament, March 8th through the 11th, 2007 at the Georgia Dome in Atlanta Georgia. The partnership will provide American Patriot Getaways use of the tournament logo, and a direct link from the SEC’s Tournament web site, as well as the opportunity to participate in the 2007 Dr. Pepper SEC FanFare to be held at the Georgia World Conference Center.

American Patriot Getaways (APG) is one of the Smoky Mountains premier overnight rental companies, offering luxury cabins, chalets and condos at competitive prices while remaining focused on building “customers for life”, by providing unparalleled service through our friendly and knowledgeable team members, a state of the art web site, patriotgetaways.com, and by maintaining clean and convenient accommodations for each one of our guests. APG has recently taken their reputation as, America’s #1 overnight rental company, to the luxury rental market of beautiful Marco Island, Florida. Marco Island is the largest of Florida's islands, located twenty miles south of Naples on the Gulf of Mexico in Southwest Florida. Some of the words often used to describe it are "Mystical", "Magical”, and "a Sun-Drenched Jewel".

"We're excited about this new relationship with the Southeastern Conference and look forward to this type of partnership enhancing a more national reputation for American Patriot Getaways," said Bob Foster, General Manager. "We view this as a big step in the growth of our business, and one that will certainly be profitable down the road. A sponsorship like this, at this level, is completely new for American Patriot Getaways, but one we are ready for. We anticipate the possibilities of supplying the perfect getaway to fans of the SEC and providing them with the finest personal service and facilities in the Great Smoky Mountains and Southwest Florida."

Brandon Parks of Host Communications/Vol Network stated, "The University of Tennessee, the Southeastern Conference and Host Communications are excited to have forged a relationship with American Patriot Getaways.  This newly formed partnership will connect the passionate fans of the SEC to a selection of properties that is second to none in the lodging and accommodations industry.  We look forward to allocating all available resources to this partnership and continuing for many years to come."

"We are very appreciative of American Patriot Getaways' decision to become involved with the 2007 SEC Men's Basketball Tournament. We look forward to working with them to provide SEC sports fans with access to a variety of superb vacation destinations and travel specials" said the South Eastern Conference.

The SEC continues to be one of the most recognized conferences on the national scene with academic excellence and top-ranked athletic teams. The SEC men's basketball championship is one of the largest collegiate athletic events in the country. The Southeastern Conference includes 12 member institutions: University of Alabama, University of Arkansas, Auburn University, University of Florida, University of Georgia, University of Kentucky, Louisiana State University, University of Mississippi, Mississippi State University, University of South Carolina, University of Tennessee and Vanderbilt University.

 

We are the official sponsor of web streaming for The Edge with Tony Basilio on www.tonybasilio.com a Sports Talk Radio show.

 

 

We also own several different domain names that we market, including:

 

 

Just to name a few.

These are a few of the ways we are marketing your property. We are continually looking for new and innovative ways to promote all of our properties.  

 

VII. RESERVATIONS SERVICES

One question property owners often ask is, “When a potential guest calls in, who decides which property gets the reservation?”  As I mentioned, a lot of our guests book their own reservation on-line, in which case, they choose the property they want.  To keep the property listing as fair as possible, the list of properties on the web page is rotated.  Also, we offer “featured properties” on the home page of our web site and those are also rotated each time the main page is uploaded or refreshed.

When the reservationists answers a call from a potential guests, there is a few questions that are routinely asked to help determine which properties fit the needs of the guests.  The reservationists will check to see what properties are available.  (The lists that the reservationists see is rotated with each call so there are always different properties at the top of the list.)  Typically, the reservationists will tell them which properties are available with the amenities they want and the guest will go on-line and view them, calling back later to book the one they want.  Again, it’s important to remember that guests view the pictures of your property and the list of amenities on-line, which is why it’s important to keep your property nicely furnished and current. 

Occasionally, owners will look on-line and check the reservations on their property and then look at other similar properties on our program to compare the number of reservations.  Sometimes it’s easy to see why one property rents more often…they have more of the key amenities: Plasma TV, pool table, Jacuzzi, etc.  Other times, however, there doesn’t seem to be a specific reason.  Maybe one property has a catchy name or the furnishings are unique. 

We try to remind our owners that the competition isn’t so much the other properties on our program, it’s the 22,000 other properties in the area. 

 

That’s the competition!!

 

VIII. DIFFERING RATES PER NIGHT

In the lodging industry, this is known as yield management.  If you were to take a survey of the guests in any given hotel, the chances are very good that you will find a variety of rates per night.  The same is true in the air line industry.  Just as an empty hotel room or seat on an airplane doesn’t make any money, an empty property doesn’t earn any money either.  Our philosophy is that some money is better than no money, within reason of course.

We continually monitor the occupancy of our properties and run specials 3-4 weeks out.  That way, we can book the greatest amount of rentals at full price.  We also watch the specials that other rental companies are running to be sure that our properties are competitive. 

We have four different seasonal rates:  low-season, mid-season, high-season, and premium-season.  Premium season is all major holidays with a four night minimum stay.     

Again, remember we want to help you earn as much revenue from your property as possible.

 

If you are not making money we are not making money.

 

 

IX. CLEANLINESS OF YOUR INVESTMENT PROPERTY

 

Occasionally an owner will stay in their property and be concerned that it isn’t as spotless as their home.  It’s probably not up to our standards either. Investment properties, unlike hotel rooms, have kitchens, hot tubs and large living areas and are spread across the entire county, which makes inspections after each turn around virtually impossible.  The properties are inspected by housekeeping inspectors when time permits and on a regular basis.  Sometimes, the property may sit empty for several days after it is cleaned, dust accumulates and it may appear to you that the cleaners didn’t do a good job. Having your property in pristine condition and ready for your inspection at all times is just not possible.  We do have extremely high standards when it comes to the cleanliness of our properties and are continually striving to attain those high standards.  We also require spring and fall deep cleanings on all of our properties.  This is a very thorough cleaning which we hire outside contractors to perform, working around the reservations in your property. 

 

X.  DAMAGES AND MISSING ITEMS

 

One of the obstacles we all face in the property management business is tracking items missing from your property or finding who was responsible for damages.   We keep a credit card on file for each guest and we do charge them for missing items and damages when they are discovered.  There are a couple of draw backs to this method. One, the guest can, and often does, dispute the credit card charge with there perspective credit card companies. This leaves us, the management company, helpless and the property owner stuck.  And, secondly, the damages aren’t always immediately visible (Example:  broken leg on a table that is propped up and you don’t find out it’s broken until it’s moved.)

While you probably know every picture and knick-knack in your property, our cleaning staff and inspectors work in lots of properties and can’t possibly recognize that small items are missing.  Housekeepers should certainly notice a large item like a television or rocking chair, but given the number of properties a housekeeper cleans in a given week, they may not notice small decorations that are missing or minor damages. 

 

XI.   WHAT CAN I DO TO MAKE MY PROPERTY RENT MORE?

There are a few key amenities that guests continually ask for:  hot tub, Plasma/LCD TV, High end Electronics, Jacuzzi tub, pool table, foosball, air hockey game, fireplace and views.  The more of these key amenities your investment property has, the more it will rent.  Even during busy holiday seasons, properties without these amenities will be the last properties rented.

Also as we mentioned earlier, making sure that your property is kept updated and attractive is important since our guests typically view the on-line pictures when making their decision about which property to choose.

 

XII. MAINTENANCE CALLS

Explaining this particular area is one of main reasons we wrote this booklet. This is an area where misunderstandings may arise.  While there are a hundred different scenarios, the main fact to remember is that it is to everyone’s best interest to get the property repaired and functional as soon as possible, with the utmost regard for our guests’ comfort and convenience.

We have contracted with a couple of independent maintenance companies that can handle many light maintenance issues.  They are available for emergencies and can respond 24 hours a day, 7 days a week if necessary.  They cannot do this service for free.  Making repairs to your property and furnishings is maintenance, not management.  We are a property management company and we make our money by the management and booking of your property.  As part of managing your property we do provide guest service personnel to help coordinate the resolution of maintenance and repair issues.

When a major repair involves the air conditioning, hot tub, electrical appliance, etc., we will contract this work out to a qualified, insured company.   

American Patriot Getaways strives to be the leader in the property rental industry. As the rental agent, we know that we must serve both our owners and guests with the best value possible. We believe that value includes offering the cleanest, best maintained units in the market while keeping owner charges to a minimum. We operate in a highly competitive and ever changing marketplace. Many forces outside our control affect our business. Fuel prices, interest rates, natural disasters, terrorist threats, new property construction and competitors discounts all affect our rental rates and occupancy percentages.
 
We believe that the best way to increase our occupancy rate is to encourage return guests to our properties. The best way to ensure our guests come back to APG is to provide them with a well maintained and clean property. As the marketplace becomes more and more crowded with properties, this advantage is critical to our company and your properties continued success.

American Patriot Getaways is committed to providing our owners with innovative solutions to the continuing challenges of the marketplace. We believe that the plans offered by both Big Sky Construction (BSC) and Landmark Maintenance Group, combined with our innovative marketing programs will keep us ahead of our competitors and help keep your property booked to your and our satisfaction.

American Patriot Getaways is not a Maintenance company; we are a Rental and Management company that offers maintenance scheduling for the convenience of our guests and our partners. We have chosen two companies to work with when it comes to maintaining your cabin, Big Sky Construction and Landmark Maintenance Group. Please contact one or both of these companies for more information about the plans the offer and the services they can provide to help keep your property in pristine rental condition.

Maintenance Companies we utilize:
Big Sky Construction Matt Naas 865-654-3118 (Cell) 865-774-0671 (Office) cabininvestment@hotmail.com	Landmark Maintenance Group Lee Sullivan and Tucker McCandless 865-429-3553 (Office) Lee 865-388-2946 (Cell) Tucker 865-388-8188 (Cell) landmarkmaintenancegroup@gmail.com

 

As always, you have the option of maintaining your property yourself. While we feel that on an annual basis, the flat fee will be more economical for you, please understand that you are under no obligation to use our maintenance system and are free to contract with an outside firm if you choose. If you would like to hire your own maintenance company that can respond to guest needs in a timely fashion you have this option. Please let us know if you choose to hire your own maintenance firm. Please note that APG will not rent properties that are not properly maintained and your property will be placed in an “out of order” status until all appropriate repairs are made to the satisfaction of the guest or potential guests.

XIII. APPROVAL FOR MAINTENANCE PROBLEMS

In our management agreement we stipulate a $300 spending limit.  This allows us to spend up to $300 a month on your behalf without you having to be notified.  Let’s face it, you don’t want me calling you every time I have to tighten a door lock or replace a $12.00 light fixture.  This would tremendously slow down routine repairs and I would aggravate you with unnecessary calls.  On rare occasions, a problem may arise that requires prompt action and if we are unable to contact you immediately, we will exceed this limit.  For example: an air conditioner compressor breaks down in July.  The guest doesn’t want to hear about waiting to get approval.  They want it fixed immediately and they often remind us how much they are paying per night.  We always try to save the reservation without moving or losing the guest. In some instances moving the guest is not an option, for example on holidays when we are fully booked. Moving the guest will not only cost you the lost revenue, but it will also cost us additional housekeeping fees.  On the other hand, if we have to refund the guest’s money, we all lose.  So you can see we walk a fine line between keeping the guest and you, the owner, happy.

When a major repair involves the air conditioning, hot tub, electrical appliance, etc., we will contract this work out to a qualified, insured company.  We do not ask for, nor accept any referral or kickback fees from contractors.  A major repair is considered $300.00 or more, as per our Rental and Management Agreement, Section VII, B. Our dispatch department will contact you and ask that you fill out our expense authorization form. Any expense over $300.00 must be paid by the home owner, either by credit card, check or directly to the vendor rendering the repairs. No repairs will begin until completed expense authorization form has been returned to APG. No payment will be made to any vendors until any all repairs are completed unless otherwise authorized by the home owner.

Your owner statement will show deductions for repairs done each month, which can be viewed via your secure access page online 24/7.  You can also review a copy of the maintenance worksheet online so you can see the notes from the maintenance personnel. See screen shot below.

New owners sometimes ask, “How do I know if my hot tub was really broken or if you’re just trying to rip me off?”  The answer is simple, you don’t.  In any successful business relationship there must be an element of trust.  Without trust, neither one of us will make any money because we won’t be focusing our energy on what’s ultimately important:  attracting guests to your property and creating a memorable experience so they will want to come back year after year.

 

HOME OWNERS SECURE ACCESS AREA

* X as a reservation indicator means a reserved day.

* G as a reservation indicator means a promotional day.

* M as a reservation indicator means a maintenance day.

* O as a reservation indicator means an owner day.

* P as a reservation indicator means a package.

In the above example, Actual days (Act) booked are days that have already checked in and out. Estimated days (Est) are days that are reserved for this property but have not checked in and out. These are estimated days because people do cancel and issues do arise that would cause a guest to be relocated to another property. Bookings do not become Actual days until the guests have completed their stay. Note: If a stay extends from the end of one month to the beginning of the next, the revenue is calculated and paid in the month the booking checks out.  

 

XIV. PROPERTY OWNER / MANAGEMENT COMPANY RELATIONSHIP

While many management companies have one person on staff that serves as the owner liaison, we do not.  We strive to have a very “hands on approach” and prefer to deal directly with you the owner.  We value your input and, one way we measure the success of our company is by the success of your property under our management. 

One of the major drawbacks to handling the owner relationship in this way is that we are also busy running the company and assisting guests.  That means that Fridays, when most of our guests check-in, is not a good time to have a lengthy conversation with us, unless of course there is some kind of emergency. 

One great way to contact us, especially if you just need to pass along information to us, is to use email.  My email address is bob@patriotgetaways.com  and Jim Robinson, our manager, is jim@patriotgetaways.com .  We have access to email constantly and we will respond promptly. 

As in any business relationship, it is important to respect each others time by keeping regular calls to business hours and reserve nights and weekends for emergency calls.  With your help we can continue to deal directly with each other without the need of an owner liaison.

 

XV. “THE GOOD….THE BAD…..AND THE UGLY”

 

The last topic may be the hardest to discuss because we are delving into an area that is the source of most of the problems in the investment property owner / management company relationship.  We will try to tread lightly and not step on too many toes. 

If you contract with us to manage your property, that means you must delegate, to us, the authority to manage.  You must trust that people you barely know will act in your best interest.  That will be easy for some and more difficult for others.  We certainly appreciate your comments and we want to address your concerns. We know that we will occasionally make mistakes, but we have been doing this for some time now and we DO know what is required to get maximum income from your investment. 

We do want to know your instructions and your opinions because they tell us your direction.  But, when you hire a management company, you give us your general instructions and then turn the wheel over to us and let us do the driving.  We try to be especially patient during the first few months owners are on our program.  We realize that they will have questions and concerns, but please understand we can’t change the general way we do business to please each specific owner.  If you reach a point in our relationship where you call us two or three times a week and you don’t trust our driving, then it is better for both of us if you take the wheel again and there will be no hard feelings on our part.

Let me give you three examples of situations that we’ve titled “The Good …The Bad …and The Ugly”:

The Good…..I called the owner Mr. A and told him that his sleeper sofa was worn out and we were getting complaints from the guests.

 Mr. A said, “Hmm, that sofa is several years old.  What do you suggest?”

I replied,” Well, you could replace the sleeper part of the sofa for about $200, but the sofa is looking a little worn.  The cost to replace the whole sofa would be about $550 to $600.”

“Well, let’s just go ahead and replace it.  I certainly don’t want to start losing reservations because the property is starting to look shabby.”

 “I think that’s wise Mr. A.   Would you like to buy one and bring it down or would you like us to take care of it?”

“We were coming down next month for a couple days so we’ll just buy one when we’re there.”

“Great, Mr. A.  I feel certain that this will stop future complaints of guests concerning this issue."

“Good!  I’ll see you in a couple weeks.” 

He’s right…it is good!

The Bad….I get a call from Mr. B.  He and Mrs. B recently purchased their first investment property and selected American Patriot Getaways to manage their property.  It’s a cute one bedroom that I think will do well on our program.

Early one morning I get a call from Mr. B.

“Mr. B., what can I do for you today?” 

“I just wanted to know if you had noticed our rentals for this month.  Mrs. B. and I were checking the web site last night and we only have six nights booked.  We sure thought it would rent more than that.  We were looking at one of the other one bedroom properties ‘ABC retreat’ and it has twelve nights.” 

“Mr. B., you guys have only been with American Patriot Getaways a month.  It will take six months to a year to be able to really see the results of your property under our management.  ‘ABC retreat’ has been on our program for 2 years.  Many of the reservations you see for that property were made several months ago.  They are also getting repeat business – people coming back to stay at the same property again.  You have a great little property, Mr. B., it just needs a little more time before you can see results.”

“OK.  It’s just that the realtor told us this thing would generate enough revenue to pay for itself and I’m just not seeing that yet.”

“Again, Mr. B, just give it some time.”

Two days later, Mr. B. calls again. 

“I was looking on the web site this morning and the 3 night reservation at the end of the month is gone.”

“Let me check on it, Mr. B.  It may have been a cancellation.”  I check the cancelled reservations file and sure enough the guest cancelled the reservation. 

“Mr. B., I do show that the guest cancelled.”

“Oh, wow! That only leaves us the one 3 night stay for the entire month.”

Mr. B today is only the 5th.  There will probably be more reservations booked for this month than what’s showing right now.  And did you look at next month?  There are already 12 nights booked for your property!”

Three days later Mr. B. calls again. 

“Mrs. B’s sister was down and stayed in our property this week and she said there were several limbs in the yard.  I thought you guys were supposed to take care of all that.”

“We did have quite a storm this week.  Were the limbs on the property or driveway?”

“No. They were in the yard.”

“Let me check with the maintenance sub contractor and see about that.”

I check and the maintenance man says there is no reports from the guest, but the cleaners did report there were a couple limbs down, and that he’d already taken care of it.

“Mr. B, we don’t have record of your sister-in-law calling about the limbs.”

“No, she didn’t call.  She thought the day after the storm you guys would have sent someone around to pick up limbs.”

“No. Mr. B., we wouldn’t disturb the guests unless the limbs were large and on the house or driveway.  Otherwise the maintenance people or housekeepers would take care of it after the guests leave.”

“No problem, just keeping you guys on your toes.”

The next day is Friday and we have lots of checks-ins.  About 10:00 p.m., on the way to help a guest who is lost, my cell phone rings.  The night office clerk says Mr. B. just called and he said it was important that you call him. I call his home and Mr. B. answers. 

“I forgot to remind you yesterday to be sure to tell the housekeepers that the blue flower arrangement goes on the dining room table, not the coffee table. Mrs. B. had that arrangement made special to match the curtains.”

“I’ll be sure to tell them, Mr. B.  Did you have her label the bottom of the arrangement as to where it goes?”

“No.  I didn’t.”

“Well, that sure makes it easy for the housekeepers.  Guests often move items around and then the housekeepers don’t know where to put them back.”

Mr. B’s first two calls were typical of a first-time investment property owner.  His last two calls verged on micro-management, and, the last call was poorly timed.   What would happen if every owner called to check about limbs in the yard after every storm….or to be sure flower arrangements were on the right table….you get the picture.

The Ugly…..Mr. & Mrs. C have just purchased their first investment property.  After extensive research, they have selected us to manage their property.  When I meet with them, Mrs. C. takes me on a tour of the property and points out all the family antiques she has used in decorating.  It’s a beautiful 2 bedroom property with a stacked stone fireplace and a beautiful view.   I think to myself with a few changes, this property should do very well on our program.  I begin explaining the amenities that are most popular with our guests; a hot tub and a pool table.  Their property has neither.  “You could put a hot tub on the deck.  There is room and the guests would enjoy your beautiful view.”  Mrs. C immediately speaks up, “Oh no.  I’m putting a patio table out there and a hot tub would make it too crowded.”  “I explain that a hot tub is the #1 amenity people ask for, but she insists that it would clutter the deck.  It’s plain to see she doesn’t want to talk any more about a hot tub, so I move on “A pool table or an air hockey table would also really help rent your property.”   Mrs. C stands up and walks around the living room and gestures with her arms, “Where would you put a pool table.  I have spent weeks decorating this property to create just the right mood and you want to throw in a pool table!”    I’m walking on thin ice now.  “Mrs. C., your property is beautiful and you have done a marvelous job decorating it.   It would be wonderful as a vacation home for your family, but you and Mr. C. called me because you wanted to put this property on our rental program.  As an investment property you are going to want to see return on your investment.  It’s my job to tell you what you need to do to maximize that return.  If you will put a hot tub on the deck and turn the small bedroom into a game room with a pool table your property would qualify to be listed as a five-star property on our program and I know from experience it will rent much more than it will as it is today.  Of course, it is your property, but it’s my job to tell you what we’ve learned from experience.

I leave the information with them and Mr.  C. says they want to talk it over.  They call the next day ready to sign the papers, but they have decided to leave the property as it is and see how well it does.  After all, they inform me, “not everyone wants a hot tub and a pool table.”   I sign them up and get all the information and pictures on the web site.  I get 2-3 calls a month from Mr. C for the next six months questioning whether we are really trying to rent his property.  He has been on-line and looked at several other 2 bedroom properties and they are renting much more than his.  I remind him that they have been on our program longer and that both of the properties he is comparing his to, have pool tables and hot tubs.

Mr. C. ignores the comment and says if rentals don’t improve, he is going to have to move his property to another company.    I certainly don’t want an upset owner, but I know without a hot tub and pool table, his rentals won’t improve much and the situation will only get ugly.

* * *

 

Again, thank you for considering American Patriot Getaways to manage your property.  We hope this information will help you in making a decision in choosing a rental management partner.   We will be glad to discuss specific questions you have about your property.

Feel Free to Contact Us Anytime!

information@patriotgetaways.com

0r Toll Free at

1 (866) 367-4838