Short Term Rental Owner FAQs
Do I have a written agreement with the Management Company?
Yes. We present owners with a Management Agreement that outlines the terms and conditions for the management of the property. The Agreement along with several other forms should be completed and returned along with keys and access codes for us to put the property on our rental program. We also provide additional information which includes a description of our company and rental program, the services we provide, our fee structure, a property information sheet, disclosures and forms.
How do I prepare my property for the rental program?
The recommendations for the contents and condition of the property are outlined in the management package. The better the condition, the less likely you are to incur maintenance costs and the more likely you are to maximize occupancy rates and increase your guests’ satisfaction. Owners are also provided with information for ensuring a healthy and safe environment for residents.
How do you market a rental unit?
Initially, we will take marketing photos of the property. These along with information from the property profile report and our market analysis of the property and comparable units allows us to present it effectively. We utilize a wide range of media and technology resources including our website, numerous other websites that syndicate our information throughout the internet, internet and Google ads, VRBO, Social Media (Facebook, Instagram, Youtube), print materials, signage (where permitted), through our expanded network of professional associates and our extensive database of clients and customers.
What special or extra contents could make my property more appealing to guests?
All the comforts of home like extra televisions, DVD players, CD stereo systems, video game systems, WiFi and internet connections, grills, board games, good books to read, swings, hammocks, and rockers. If you would enjoy it, so would your guests.
Do you require security deposits from guests?
Yes, Guests have the option to purchase Damage Protection Insurance through us from CSA or pre-pay a significant damage deposit that we refund after verifying the condition of the property/unit and furnishings.
How often do you clean my property?
Your property is cleaned after every guest and owner departure.
Do you clean the property after the homeowner departs?
Yes. We do expect that owners allow CRP to clean the unit upon
departure. Owner will receive a discounted price on the departure cleaning/linen fee. (Linens and towels are included in this service)
Who pays for the cleaning?
Guests pay for the departure cleaning and linens when they reserve the unit. It is included as one of the charges in the online property listings on our website and VRBO.
Do I provide cleaning supplies?
It is not necessary. Coastal Rental Properties cleaning crews provide their own supplies. Some owners prefer to keep these products available in the unit.
Do I provide linens?
No. We provide the sheets, towels, and bath mats for guests and owners (fees are included in the cleaning charge).
How often is an inventory taken at my property?
A detailed inventory is taken when your property first comes on our rental program. After each guest or owner departure, an inspector reviews the property for cleanliness and checks for any major damage or items missing.
Should I put a deadbolt on my homeowners closet?
It is a good idea to use locks that will keep curious guests out and will increase security. You should also have your hinge pins on the inside of the closet not the outside.
How is maintenance handled?
Our maintenance team is utilized for repairs and services at the property. Our team of vendors are experienced and licensed. Their work is handled with professionalism and their fees are competitive and reasonable. Charges for maintenance and repairs are a reflected on the owner’s monthly statement. If the expense is minor, it may be deducted from the owner’s reserve fund. If the issue is due to a guest’s negligence or misuse, the guest will be responsible for the charges involved.
How are emergencies handled?
CRP is always on-call for emergencies. Guests are provided with our contact information as well as contact information for police, fire and rescue services. Guests are also provided notifications/information on preparations and evacuations for hurricanes or named storms and winter weather conditions that may include specific preparations for your property.
Do I ever have to deal with the guests or the property?
No. Our commitment to you involves managing all guests and property maintenance issues. We will communicate with owners but there is no expectation or need for owners to have communication with guests or be involved with services at the property. Guests are not furnished any personal information of the owner. We also handle the eviction process with the local magistrate’s office in cases of default (for seasonal and long term rentals).
Is my personal use of the property limited?
No. Owners can use the property anytime it is available. Owners will typically make the most money renting their short term rental property in certain periods of the year. Therefore, if at all possible, owners may want to limit owner blocks during these periods. If you know in advance that you want to reserve a particular time slot, please let one of our management team know as soon as possible. An owner block is any time you do not want your unit rented for personal use, repairs, improvements, etc.
What if I know someone who wants to reserve the property?
We call that a homeowner referral. You will call or email our office with the requested dates, the guests name, address, phone number, and email address. We will take it from there and your management fee for that reservation will be reduced.
Can I cancel my contract?
Yes, with a 30 day written notice after the original term of the Management Agreement. All confirmed reservations must be honored and/or transferred with CRP per the Management Agreement.
What if I want to sell my property?
We ask that you notify us within 24 hours of listing the property for sale. We have sales agents in our professional network that we can refer to you or we will work with your existing agent. The agent will need to coordinate with our office for access and to verify showing times so that we are not intruding on our guests.
When do I get my monthly statement?
We email monthly statements to owners and direct deposit any funds due into owner’s bank account typically between the 6th – 15th day of the month. Disbursement dates may vary depending on when rent is collected, holidays, weekends, severe weather, etc. Statements show all income and expenses for the previous month. We also provide an annual income/expense statement to assist owners in completing their income tax returns.
Do I need a business license?
Yes, Some counties and municipalities require property owners that rent their property to obtain an annual business license that must be acquired when the property is placed on the rental program and is renewed each year in April or May depending on the property location. The cost is based on rental income. If an owner’s property is located in one of these areas, CRP will either provide owner with a license application or add owner’s property to the CRP Long Term rentals business license for the license cost. This cost will typically be assessed on owner’s monthly statement.
Should I have a guest book in the unit?
We do not recommend having these in rental units. While they can provide feedback and helpful comments, they can also create a source of liability for owners and rental companies. CRP does provide several ways for guests to leave feedback and reviews.
What are the benefits in putting an electronic keypad lock on my rental unit?
The benefits greatly outweigh the initial cost: 1) This provides better security for renters as codes will be changed after each occupancy. This is a good marketing feature which increases the desirability for renting this property 2) Renters can be given the code remotely, streamlining the check-in process and avoiding the need to stop at our office. Renters will be more likely to rent this property for their next vacation 3) There are no keys to OWNER’S property circulating, reducing the chances of theft or vandalism and possibly saving on insurance premiums 4) There will be no recurring key expenses or service charges, which can add up over time 5) We can provide the lock and installation service for a reasonable cost through our maintenance personnel.