Posted by: croatianpropertymanagement | September 3, 2012

Rental Checklist for Owners

 

 

Legal

  • Check the short-term rental laws for your municipality
  • Check requirements for business licenses and paperwork.
  • Check safety requirements and health code regulations for your municipality.
  • Research and purchase an insurance policy for holiday rentals, including guest insurance
  • Create a rental agreement. Include clauses for the following:
    • Security Deposit Refunds
    • Total Payment Due
    • Instructions for Submitting Payment
    • CC Authorization
    • Cancellation Policy
    • Inclement Weather Policy
    • Pet Policy
    • Smoking Policy
    • Rental Restrictions
    • Maximum Occupancy
    • Minimum Stays

 

Tax

  • Review information on applicable tax deductions, capital gains requirements.
  • Research Tourist taxation on rental and / or occupancy tax rate for short term rentals in your municipality

 

Payments

  • Determine your rental goals and break-even point.
  • Set your pricing structure (nightly, weekly, monthly) and rates.
  • Devise a method for tracking and recording payments and expenses.
  • Determine your methods for accepting payment – credit card merchant account, PayPal, Moneybookers etc.,
  • Develop a payment schedule
  • Create a deposit refund strategy

 

Maintenance

  • Find a reliable property manager for , meet and greet, housekeeper or cleaning service and maintenance person. Paying cash to locals is not a good idea. Ensure they have an Obert are part of a DOO. Or employed by the Management Company
  • Create a cleaning/housekeeping check- list and photo manual
  • Review cleaning checklist and process for check-in, checkout and keys with management
  • Create a maintenance list
  • Prepare a Villa Book with usage pamphlets of all equipment ,guest behavior and local amenites/attractions
  • Complete maintenance projects and renovations.
  • Winter checks and maintenance is crucial

 

Household

  • Furnish your home based on target renters and according to categorization guidelines.
  • Determine your rental market
  • Create a list of items to purchase for rental licence and target market
  • Purchase necessary items and save receipts!
  • Create a property inventory list of items in your home. Include photographic inventory and prices
  • Purchase a complaints and guestbook.
  • Purchase local attractions books.
  • Gather coupons, local attraction/activity brochures and menus from local restaurants and put them in villa book

     

Advertising

  • Review portal websites and specialty websites to determine options for advertising your property.
  • Set up accounts with 3 to 5 paid listing sites, upfront mixed with commission sites as well as free ones and a facebook page and twitter
  • Create a headline, property description , google map and location description.
  • Stage your home for photos.
  • Take multiple pictures with a digital camera at different times of day or hire a photographer.
  • Create captions for each photo.
  • Set up a calendar
  • Research virtual tour services and You tube
  • Purchase domain/email address for personal site and professional email correspondence.
  • Set up Facebook page and Twitter account, linking to portals for bookings or to Property Manger
  • Link to listing site(s) from personal website.
  • Determine procedure for booking management with your property manager
  • Proofread your personal site and listing sites.
  • Send an email to everyone in your address book linking to your personal site and new listing(s) and add to your facebook profile

 

Renter

  • Set up an auto-responder for inquiries.
  • Create standard responses and a sample confirmation email.
  • Build a thorough set of directions and google map
  • Build a list of instructions for using appliances, electronics and equipment at your property and leave in Property Book
  • Determine method for getting keys to renters.
  • Create a check-in procedure.
  • Create a checkout procedure.
  • Set up an emergency contact sheet, fire escape instructions and procedure and put in Villa Book
  • Put together local vacation tips for your guests.
  • Include transfer and taxi information as well as local car hire company

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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