Did you know? - Lodging Newsletter February 28th, 2019
By Wm. May
Published: 02/28/19 Topics: Lodging Newsletter, Vacation Rentals, Vortex Managers Comments: 0
In a 2016 survey, HomeAway, the operator of various vacation rental advertising websites such as VRBO, found that that managing your own home only takes 10 hours per week.
That 10 hours per week computes to about 25% of the hour that a full time employee works. Full time employees usually work 40 hours a week, but when you subtract coffee breaks, vacations and sick leave, it's really far less.
The old saying goes, "You never know what you don't know until you discover you don't know it." The vacation rental industry is not immune from that situation.
Property owners often begin renting without taking the time to read and study what the business is all about. In most cases they do fine, but it may be fair to say that they are always surprised, hopefully only in minor ways.
Owners who attempt to manage their own properties get the biggest surprise because those hours can be spread from first light until midnight, occasionally even overnight.
They cannot be scheduled because guests want what they want, when they want it. In today's era of computers and smart phones that can be any time of the day or night. If you turn off the phone, you lose bookings to professional managers who provide 24-7/365 service.
All this is just another way we help owners get maximum income with minimum fuss.
So, this month I thought I would summarize random things as "Did You Know" type questions.
Here is a mish mash of "Did You Know" facts, figures, statistics, and plain ol' good wisdom we have picked up over time.
DYK - Our definition of "Hospitality Clean" is defined as cleaner that most people leave their homes just after they've done a deep clean. Guests demand clean above all else.
DYK - Many housekeepers drive miles and miles between homes each day to make them clean and ready for guests anxious for a vacation. Making people happy is the entire definition of hospitality.
DYK - Did you know that our managers participate in weekly continuing education, collaboration, and problem solving sessions? DYK that we discover and implement a list of new things every week? (Wow, this industry moves fast!)
DYK - Dynamic rates are becoming the norm. Rates must vary by season, day of the week, and even local events such as festivals. They also must jump up or down based on demand.
DYK - We get telemetry from several sources that reveal prices that others are charging, so we can be a dollar less or sometimes strategically much higher. Research can't answer all questions.
DYK - We are the only management firm that offers a full slate of "creative" selling tools - HDR photos, panos, 3D tours, floor plans, and a custom website for every property.
DYI - That the giant out-of-town managers churn through clients with homes in and out, and all because they can not provide the truly hands-on, committed, concerned care that we can.
DYK - There is nothing the corporate managers do that we do not? In fact, we have a long list of services we provide to get owners maximum income with minimum fuss. As that old "Annie Get Your Gun" song said, "Anything they can do, we can do better." (We will spare you our singing)
DYK - That we operate local tourism websites as a service to guests but also a way to get prospective guests that the competitors don't even know about.
DYK - Our very first management office opened in 1964, making us the oldest in the area and one of the oldest in the country. Surprisingly, we are the most tech enabled too.
DYK - Many cities and counties are pushing to regulate or even prohibit vacation rentals? If you think your property rights include being able to rent you may be surprised.
DYK - Vacation Rentals are also not new. Thomas Jefferson ensconced himself in a kind of vacation rental for weeks while drafting the Declaration of Independence.
- - - - - -
SHOUTOUT - To our friends at Eden Valley Guest Ranch in North Central Washington State. Lovely cabins. Ride a horse. Sign around the campfire. Your kids will love it (you will, too!) Look at EdenValleyGuests.com
Author: Wm. May, Vortex Managers
Blog #: 0650 – 02/28/19
Sponsor: Vortex Organization – We train quality people to help run unique Inns, Resorts and Vacation Rental Management companies, in an industry that has been a webby net of technology combined with good old fashioned property, guest and owner services. – VortexManagers.com
- Channel Management
- Covid-19 Virus
- Do It Yourself Rentals
- Dynamic Raes
- Lodging Management
- Lodging Newsletter
- Online Travel Agents (OTAs)
- Property Management
- Sunspots Vacation Rentals
- Vacation Rental Management
- Vacation Rentals
- Venture Capital
- Vortex Managers
- Yield Management