Owner’s Guide: Practical Ways to Maximize Your Vacation Rental Revenue Teeming Vacation Rentals 727.565.4686 [email protected] However beautiful the strategy, you should occasionally look at the results. Winston Churchill 0 Table of Contents Introduction ............................................................................................................................................................................ 2 Maximize Revenue through TeemingVR’s 5 Property Approach ............................................................................................ 4 TeemingVR’s Recommendations for Furnishing Your Property ............................................................................................. 8 Suggested Amenities to Draw Guests ................................................................................................................................... 14 Decorating Your Vacation Rental Property ........................................................................................................................... 17 “WHAT NOT TO HAVE” in a Vacation Rental Property ....................................................................................................... 19 Increase Your Rental Revenue through Allowing Pets .......................................................................................................... 20 Boost Rentals during Off-Season .......................................................................................................................................... 21 Teeming Vacation Rentals Property Care ............................................................................................................................. 22 Teeming Vacation Rentals Linen Calculation Sheet .............................................................................................................. 25 Annual Property Maintenance .............................................................................................................................................. 28 Role of Insurance in Protecting Your Vacation Property and Rental Income ....................................................................... 29 Teeming Vacation Rentals Exclusive Owner Agreement .................................................................................................... 30 Sample Welcome Sheet ........................................................................................................................................................ 38 Sample Check-In Information Sheet ..................................................................................................................................... 39 Protect Property and Revenue through TeemingVR Rental Terms & Conditions ................................................................ 40 Frequently Asked Questions by Owners ............................................................................................................................... 48 Opportunity is missed by most people because it is dressed in overalls and looks like work. Thomas Edison 1 Introduction Along with introducing this Owner’s Guide to you, please allow us to also introduce ourselves. We are Jeff and Gina Paglialonga, founders and owners of both StPeteClearwaterVacationRentals.com and the parent company Teeming Vacation Rentals (TeemingVR) and Co-Owners of PanamaCityBeachFLVacationRentals.com and StAugustineFlaglerBeachesVacationRentals.com. Both of us were raised in Florida (Jeff is actually one of those rare Florida natives) and graduated from University of Florida. We love to travel and have traveled far and wide (visiting 6 of the 7 continents) over our 29 years of marriage (often taking our 4 children with us). Our extensive travels have provided us a wealth of personal experiences and expectations for vacation properties. In 2004, we purchased our own beachfront condo as both a family retreat and investment property. It didn’t take long for us to realize that we were better equipped to manage our property than the on-site office. Applying our past work experiences, years of travel, and a high standard of excellence; we were soon doubling our previous rental income. After poor experiences with the complex office as well as local real estate offices and success managing our own unit, the decision was made to start a vacation rental property management business. Jeff cofounded a successful management company on the East Coast of Florida. After almost 5 years of ownership, Jeff helped grow the company from scratch to over 120 properties accommodating over 2000 guest reservations in 2012 (the largest vacation rental management company in the market area). Since founding Teeming Vacation Rentals in spring of 2013, we have grown the company to over 200 properties, accommodating more than 6,100 guest reservations and doing over 8.1 million in total sales. Our aim with TeemingVR is to build long-term rewarding relationships with both guests and property owners. We are committed to excellence, continually assessing our processes and refining our strategies. As avid travelers and vacation property owners, we understand the concerns of both guests and owners. We get it! Years of travel with a few mishaps convinced us of the importance of actually seeing the exact facilities before booking our vacation and the value of knowing a little about the location before arriving. Initiating the phrase ~ Look, Book, Know, GO!TM This is both the trade mark of our companies and a key approach to help convert “lookers” into “bookers” further increasing owner’s vacation rental revenue. If you are interested in knowing a little more of our story, please refer to “About Us” page on our website www.StPeteClearwaterVacationRentals.com . If you have any friends or relatives living in a vacation destination (other than central Florida) who might be interested in partnering opportunities with TeemingVR, please email us at [email protected]. In TeemingVR and its associated markets (see below), as well as StPeteClearwaterVacationRentals.com, we are applying the strategies utilized with our own 2 beachfront condos (which both annually gross over $60,000) and the proven processes in managing other owner’s vacation rentals over the past 7 years. (If you would like to hear what some of our owners have commented about our services, we will gladly share these with you upon request.) As Jeff likes to say, “This isn’t rocket science”, but there are simple, easy practices to raise the rental revenue of your vacation property. This guide elaborates on many of these processes and offers many specific suggestions. We hope it proves helpful to you and would love the opportunity to partner with you to maximize your vacation rental revenue while alleviating many of your headaches. Jeff and Gina Paglialonga 2 Hello. My name is Brenton Hitchcock. As a Panama City native, I grew up in this premier destination that attracts tourists from across the world with its award winning beaches. I understand the attraction since I personally have so many fond memories formed along our sugary white sand and emerald blue water (skim boarding, boating, fishing, crabbing…). In fact, my family roots to Panama City go back all the way to the 1920’s. With strong ties and family in the area, it’s no wonder that I decided to return here after graduation. Soon after meeting the Paglialongas (owners of Teeming Vacation Rentals) through a mutual friend, we decided to pool our experience and passion in forming this full service vacation rental property management company in this desirable location. Combining my personal knowledge and love of the Panama City Beach area with Teeming Vacation Rentals’ proven strategies, we found PanamaCityBeachFLVacationRentals.com. Our aim is to work together to build long-term relationships with both guests and property owners. As you probably can tell, I love the area…love being here to help my vacation rental owners with their properties…love making a difference for owners and guests alike. Personally, I am eager to make my Panama City Beach owners as well as guests happy, and believe this Owner’s Guide is one step toward that aim. Brenton Hitchcock Allow me to introduce myself. My name is Beth Swaggerty. Although I am a Massachusetts transplant, I feel like a true Floridian having lived here for over 30 years. My husband Kirk, a native Floridian, has been frequenting the St Augustine/Flagler area beaches since he was just a kid. We have been married for 27 years and have two wonderful boys ~ Sam 9 and Drew 17. Not long after meeting Kirk, he introduced me to the area beaches. Along with falling for him, I fell in love with Flagler Beach with its cinnamon colored coquina sand. We have many fond memories from the area now called the Hammock ~ taking our Jeep on the beach, camping out along the pristine shore, building fires and even catching our own dinner! It is no wonder that 18 years ago we decided to purchase a vacation home in the sleepy little seaside community of Flagler Beach. It was a perfect fit for us, our energetic boys and beloved dog Charlie. (The dog friendly beach was a huge draw!) Not much has changed in our salty little beach town with the exception of some wonderful new open-air restaurants, which is exactly what I like about it. We come as often as we can, escaping the craziness of Orlando. Thanks to our beach house get-away, our sons are growing up with the feel of a small town and a love of the ocean (beachcombing, fishing, boating