| Vacation Rentals Outline - Download a PDF |
Our History at WNC Realty & Rentals
(We’re here because we have a proven track record - Not based on theory)
More Numbers & Technology
The history of vacation renting
How does a vacation rental differ from a long-term rental?
Which long-term rentals should NOT be converted to vacation rentals?
The IDEAL property for a vacation rental
How do the laws differ between vacation rentals and long-term rentals?
How location affects your rentability
What are the advantages/disadvantages of having a "pet-friendly" policy?
Fine Details
What are the range of services we provide our partners?
Confessions and Predications
(We’re here because we have a proven track record - Not based on theory)
- The secret is WORK. It's a BUSINESS not an investment.
- Educate everyone on your team of THE MISSION
- I've been a CREIA member for 20+ years
- I owned and managed many vacation rentals for 20 years
- Darlene - 35 years in the hotel/hospitality industry
- I managed seven vacation rentals before partnering with Darlene
- Now have 24 managed properties
- 4.96 overall rating on Airbnb
- 4.92 on Vrbo
- 1,000+ reservations per year
- Hosted over 8,000 guests in 2022
More Numbers & Technology
- Avg length of stay (2022) was 3.9 nights
- The cancellation rate for 2022 is less than 5%
- We utilize apps that we have created which automatically email/text guests, apps for each maid service, individual client-owner calendar apps, as well as Weekly Openings/Closings apps
- Utilize cameras, internet-controlled thermostats, auto-responders, auto-emails, auto-texts
- Closing & opening inspections to ensure 5-Star quality
The history of vacation renting
- Started in the late 1600s mostly in coastal areas in Europe
- USA 1950s but really became popular by the 1990s
- Vrbo started in 1995
- Airbnb started in 2008
- Booking.com is the biggest and (in my opinion the most expensive in fees)
- AVL has always been a vacation destination since before George Vanderbilt arrived
How does a vacation rental differ from a long-term rental?
- A business versus an investment
- 2-3 times money revenue generated
- Scalable - Not Static
- Upfront investment
- Long-term commitment
- Enjoys the same property appreciation as a L-T rental
Which long-term rentals should NOT be converted to vacation rentals?
- Properties in an undesirable or bad location
- Properties in need of repairs or is outdated
- Can’t make the numbers work as a vacation rental
- Purchased at an inflated price
- Long-term revenue is very good right now as an owner
The IDEAL property for a vacation rental
- Location, location, location
- Amenities - VIEW, open-floor plan, game room, ensuites, large outdoor areas, fenced yard
- Low cost of ownership including purchase
- Low maintenance
- Flat or easy entryway
- Not close to neighbors
- Uber and Lyft accessible (Pizza delivery too)
- Modern appliances, fixtures, furnishings, lighting, etc
- No personal items of yours
- Great beds and linens
- Good cell service
- Fast Wi-Fi and private workspace
- No HOA
- City water and septic if possible
How do the laws differ between vacation rentals and long-term rentals?
- Vacation Rental Act - KNOW it frontwards and backward
- I.e. 180 days to honor all future reservations
- ALL monies are required to be kept in a trust account (Short or long-term)
- Whether you’re a Realtor or not the VRA applies to you
- Can’t manage other people’s property without a real estate license IF you take guest’s monies
How location affects your rentability
- The closer to AVL the more it rents. PERIOD
- The further from AVL the less it rents. PERIOD
- A "VIEW" is GOLD!
What are the advantages/disadvantages of having a "pet-friendly" policy?
- Some homes have over 50% dogs
- DOGS only due to allergies
- Earns thousands in annually
- Use fee for deep cleaning and capital improvements
- Pay maids more per dog to incentivize them
Fine Details
- How to set up a house
- Guest reservations - From initial contact through to the review
- What questions should I ask a potential vacation rental property manager/partner?
- What are the characteristics of a vacation property that makes it successful?
- How to make your vacation rental stand out from all the others.
- What accouterments do vacation renters expect in a vacation rental?
What are the range of services we provide our partners?
- Create and maintain all marketing websites
- Provide NCDOR & county tax figures (Owner is responsible for reporting/paying taxes)
- Maintain a central calendar for all reservations for vendors and owners (an additional "app" fee will apply)
- Manage and oversee the cleaning schedule of the maid staff
- Oversee all subcontractors (fee may apply)
- Recommend updates/upgrades to the owner
- Provide monthly profit and expenditure spreadsheet
- Be on-call 24/7 for guests/property emergencies
- Inspect and secure the property after guests' departure
- Inspect property before guests arrive to ensure 5-Star quality
- Perform site visits for quality control
- Inventory check and refills of property on a regular basis
- Oversee trust account and adhere to all applicable NC laws
- Closing comments and future 2023 prediction
Confessions and Predications
- I don’t read other’s books, I don’t comparison shop other’s nightly rates, nor do I talk with others about their vacation rentals
- I do compare our rates to the overall local market rates though
- 2020 compared to 2019 was UP 32%
- 2021 compared to 2020 was UP 54%
- 2022 compared to 2021 was DOWN 10.3%
- My 2023 prediction is a flat or slight decline in the AVL area compared to 2021 & 2022 but UP from 2019
- The secret is WORK
- Educate everyone on your team of THE MISSION
Disclaimer for WNC Realty & Rentals Last updated: May 01, 2023
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"Use at Your Own Risk" DisclaimerAll information in the Service is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. The Company will not be liable to You or anyone else for any decision made or action taken in reliance on the information given by the Service or for any consequential, special or similar damages, even if advised of the possibility of such damages.
Contact UsIf you have any questions about this Disclaimer, You can contact Us:
Interpretation
The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.DefinitionsFor the purposes of this Disclaimer:
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The Company assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the Company be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents on the Service at any time without prior notice. This Disclaimer has been created with the help of the Free Disclaimer Generator.
The Company does not warrant that the Service is free of viruses or other harmful components.
External Links DisclaimerThe Service may contain links to external websites that are not provided or maintained by or in any way affiliated with the Company.
Please note that the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites.
Errors and Omissions DisclaimerThe information given by the Service is for general guidance on matters of interest only. Even if the Company takes every precaution to insure that the content of the Service is both current and accurate, errors can occur. Plus, given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained on the Service.
The Company is not responsible for any errors or omissions, or for the results obtained from the use of this information.
Fair Use DisclaimerThe Company may use copyrighted material which has not always been specifically authorized by the copyright owner. The Company is making such material available for criticism, comment, news reporting, teaching, scholarship, or research.
The Company believes this constitutes a "fair use" of any such copyrighted material as provided for in section 107 of the United States Copyright law.
If You wish to use copyrighted material from the Service for your own purposes that go beyond fair use, You must obtain permission from the copyright owner.
Views Expressed DisclaimerThe Service may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other author, agency, organization, employer or company, including the Company. Comments published by users are their sole responsibility and the users will take full responsibility, liability and blame for any libel or litigation that results from something written in or as a direct result of something written in a comment. The Company is not liable for any comment published by users and reserves the right to delete any comment for any reason whatsoever.
No Responsibility DisclaimerThe information on the Service is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. In no event shall the Company or its suppliers be liable for any special, incidental, indirect, or consequential damages whatsoever arising out of or in connection with your access or use or inability to access or use the Service.
"Use at Your Own Risk" DisclaimerAll information in the Service is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. The Company will not be liable to You or anyone else for any decision made or action taken in reliance on the information given by the Service or for any consequential, special or similar damages, even if advised of the possibility of such damages.
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Contact us with questions or ideas.
Ron Mashburn
Ron@wncvacations.net
828-280-3655
Darlene Withman
Darlene@wncvacations.net
231-557-8284
Ron Mashburn
Ron@wncvacations.net
828-280-3655
Darlene Withman
Darlene@wncvacations.net
231-557-8284
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