You’ve chosen to join the Vail Butler rental program. Congratulations!
Homeowners who place their homes in the Vail Butler portfolio can earn up to 25% more than by renting their home on their own. Those who switch from a different property management company see on average a 15%+ increase in revenues in year one. Vail Butler charges a 20% management fee, which is 10-15% lower than competitors. We believe in providing an incredible product for both homeowners and guests, without the extortionary price.
Now that the decision has been made, what else has to be done to get your home in rental shape and ready to market to potential guests?
Paperwork
- Short Term Rental Permit – Short term rental units must all be permitted and registered with the town in which they operate. Vail Butler will submit your application, correspond with the town, and make sure your unit is legally able to be rented. The cost as of July 2023 is $260 per year, charged to the homeowner.
In order to apply for the permit you’ll need:
- Homeowners insurance that covers short term rentals up to $1 million in policy coverage
- A fire inspection, which will be scheduled by the Vail Butler team
Timeline: The rental permit application approval process takes an average of 1 month to complete.
- Property Information Form – You will receive a short survey to collect information about your property. We need this to create a helpful check in guide for guests and to create accurate advertising to be distributed on the Vail Butler website and third party websites such as airbnb and vrbo.
Assets
To make your property shine on digital marketplaces, the Vail Butler team will schedule and pay for a combination of:
- Professional photography
- Videography
- Virtual Tour
- Short videos – check in instructions, how to use tricky appliances, and more.
Hire Support
Your home must be properly maintained to be in tip-top condition and produce the highest revenue possible.
- Housekeepers: We recommend using the Vail Butler team of housekeepers but we are happy to work with a housekeeper of your choice. In general, homeowners are only responsible for paying for 1-2 deep cleans per year and any housekeeping services associated with their personal stays. All housekeeping for guests is paid for by guests and managed by Vail Butler.
- Maintenance: Most homeowners choose their own maintenance person or property manager, who Vail Butler is happy to work with. We can also provide a referral to a local professional with which we have worked before. Homeowners generally maintain a monthly contract with the property manager, who they pay directly. Vail Butler communicates frequently with the property manager but does not manage their payment.
Inventory
Have you ever rented a home only to find there was not laundry detergent, the dishwasher was broken, or there weren’t enough pillows? An experience like that can be frustrating at the least and deter guests from staying again in the future at the worst.
It is important for a rental home to function properly and have all the essentials needed for guests to have a flawless experience and to create repeat guests who will return to your home time and again.
Vail Butler will take a full inventory of your home and provide a list of items needed to buy or repair prior to the first renters’ arrival. We will work with you to purchase necessary items and hire contractors for any items in need of repair.
Behind the Scenes
Meanwhile, the Vail Butler team will:
- Create a listing for your property on the Vail Butler website and third party vendors we partner with, like Airbnb and vrbo. Listings are able to go live as soon as the short term rental permit is approved.
- Define a pricing strategy that works best for your home
- Create your Owner Portal login
Go Live Meeting
Once your listing is live, we’ll arrange a brief meeting with you. We will review the following:
- How to use your Owner Portal to insert owner blocks, view upcoming reservations and view month-end owner statements.
- The process for getting paid out for reservations at your property
- Review the pricing strategy and current market conditions
- Discuss the technology Vail Butler uses to remain at the top of the industry: LMPM, Pricelabs, Safely, StayFi and Lynnbrook.
- Answer any outstanding questions
Our goal is to get your property up and running as quickly as possible without sacrificing accuracy. We’ve streamlined the process to make it simple and to give homeowners the shortest task list we can. We will work together to have your rental property producing revenue in as little as one month.
Interested in learning more? Contact us via phone or email any time.