The concept of owning vacation properties and utilizing them to generate income has been in existence throughout resort communities for generations. However, the popularity of owning vacation investment properties has increased tremendously with the onset of the “vacation rental by owner” internet platforms. We recognize that there is a dire need for a company that can remain in stride in an ever-changing industry.
Lavish Retreats came to fruition after the founders first experienced the vacation property management industry as a customer. The companies utilized to manage one of our owner’s vacation properties exhibited obvious deficiencies in housekeeping management, prompt accounting, maintenance management, price setting and booking management. Our team has also experienced the industry as tenants of vacation properties. Throughout these occurrences we have endured shortfalls in tenant communications.
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”
The founders of Lavish Retreats have many years of combined experience in the long-term investment property management space. The company has developed strong relationships with property owners, good repour with tenants and has developed a streamlined method of vendor coordination. This experience has allowed our team to implement a strategic approach to vacation property management.
Lavish Retreats has a team of qualified personnel assisting in the management of your property. Our team consists of individuals specializing in the following responsibilities:
- Booking management/ Guest services
- Accounting / Owner communications
- Compliance and enforcement
- Maintenance management
- Housekeeping management
Channel management enables us to simultaneously market your property on many popular vacation rental websites. Additionally, with the use of search engine optimization (SEO), popular social media, and direct marketing we effectively market your vacation home. Have you ever considered what your management firm is doing to establish rates? Are they frequently analyzing and making adjustments based on market conditions? The use of analytical software combined with live market research provides Lavish with the ability to adjust rates in order for your property to increase profits and to remain competitive within the market.
Lavish Retreats is a firm believer in first impressions. Our marketing team coordinates with property owners in effective staging, recommendations for improvements that increase profitability, effectively equipping short-term rental property and in preparation for photography. Lavish requires professional photography for each and every listing and drone footage when appropriate. We believe in painting a thorough picture of the individual property, neighborhood amenities and community highlights. Attention to these details leads to more frequent bookings and a higher level of guest satisfaction.
Booking Management/Guest Services
Our booking team manages the inquiries and bookings of the vacation properties. Guests may book on third party websites, our website and by phone. The booking management team coordinates with guests from the time they book their stay, during the period leading up to their stay, during their stay and in obtaining reviews and feedback upon departure.
Lavish Retreats believes in effective communication with all parties involved in a vacation property. Our company utilizes a combination of traditional communication channels as well as a strategic management platform. Vacation properties are occupied on both weekdays and weekends. Therefore, our company believes in seven day per week competent points of contact for both customers and consumers.
Accounting/ Owner Communications
The accounting team manages accounts payable and accounts receivable relative to your property. Accounting also charges and disburses sales tax to the state taxation and revenue department when applicable. Accounting analyzes the rates and coordinates adjustments with owners. Owners receive monthly statements that clearly depict all income and all expenses relative to the individual property. Disbursements are made to contractors, housekeeping, and owners on a pre-determined schedule.
Compliance and Enforcement
Lavish Retreats understands that each property is subject to restrictions, rules and regulations. Additionally, individual property owners may have rules specific to the occupancy of their property. Our team will assist owners in obtaining permits necessary to utilize their property as an income property. We coordinate with owners in order to develop documentation that summarizes neighborhood and unit specific rules. These rules will be provided digitally to tenants and are posted within the residence.
Lavish Retreats acknowledges the importance of prompt and thorough maintenance management. Lavish has developed a network of experienced service providers to address both routine maintenance and service calls. Lavish uses only licensed electricians, plumbers and HVAC technicians in addition to experienced and capable maintenance personnel. Additionally, Lavish coordinates routine yard and pool maintenance on your behalf. Lavish relieves the primary headache of owning vacation rentals.
All maintenance management is coordinated through our vacation property management platform. Vendors are required to document repairs. We minimize unnecessary repairs thereby reducing overhead for owners by requiring vendors to thoroughly communicate the scope and costs of repairs prior to conducting them. Maintenance reports are provided regularly to property owners.
Lavish Retreats has a high standard for housekeeping. The owners of Lavish have found poor housekeeping to be the number one cause of complaints by guests. Our housekeeping crews are pre-screened and are assigned to specific properties. Our concept is “own your efforts”. We believe that housekeeping should be required to clean and organize at an expert level. Training is conducted with our housekeepers in order to establish and reiterate our expectations.
Our management platform allows housekeepers to streamline reporting. Upon the completion of cleaning, the housekeepers are required to upload photos from throughout the home. They are provided with checklists to increase their cleaning efficiency and to decrease oversight. They are also required to report missing or damaged items so that our team can quickly remedy any issues. The properties are then inspected by trained inspectors. This provides checks and balances for the housekeeping process.
Management Fee Structure
Management fees are charged as a percentage of gross rental income. We believe that our company should only profit when our owners’ properties are producing income. Please contact our office for more information regarding our fees.