The Complete Guide To Choosing a Property Manager in Park City
There’s no doubt about it, the travel industry is primed to cater to the thousands of households that have been under quarantine throughout the pandemic. If you are one of the many fortunate (and smart) individuals who own a second home, the potential for additional income from your vacation property just became a real opportunity.
With homeownership comes many responsibilities. Upkeep, property taxes, repairs, and renters insurance could be reason enough to not list your second home to potential vacation renters. Luckily, there are hundreds of property management companies in Park City that are ready to help you get the most from your vacation property. Unfortunately, they are not all created equal.
Good news! We created the Complete Guide to Choosing a Property Manager in Park City. Read on to find out how you can make the most income from your second property by choosing the right property manager in Park City.
Topics:
Be certain your home and your best interests are safe and secure.
Critical questions to ask your property manager:
Question: Do you offer keyless entry into my home and provide each guest with separate code access?
iTrip Vacations Park City Answer: Yes, iTrip Vacations Park City provides a keyless locking system that includes unique guest codes for each booking. This allows for a simple check-in for guests and peace of mind for owners knowing that their home is secure before and after every booking.
Question: Do you offer full audit capabilities, allowing homeowners to know who is in the house and when?
iTrip Vacations Park City Answer: Absolutely. At iTrip we offer transparency to homeowners so that they know who is staying at their property, and when they enter/exit. Every homeowner has the right to know this information. iTrip Vacations Park City makes it very easy for homeowners to access this information.
Question: Do you offer any kind of noise monitoring system in my home?
iTrip Vacations Park City Answer: Yes. iTrip Vacations Park City uses listening technology to provide noise monitoring to make sure your property isn’t being abused. If noise levels are high, the system gives guests a reminder to keep the levels down. Monitoring ensures no noise complaints or noise violations arise. The system also doubles as a motion sensor to make sure no unwanted guests occupy the property.
Question: Do you offer regular home inspections when the property isn’t occupied?
iTrip Vacations Park City Answer: At iTrip Vacations Park City, we offer regular inspections even during the off-season to ensure properties are in pristine order and are ready for guests at all times. It is critical to inspect a property even when it is not in use, and maintain the home properly. Regular home inspections include:
– Unscheduled storm inspection after a severe storm.
– Checking refrigerator and freezer.
– Flushing all toilets.
– Checking AC and making sure thermostats are functioning properly.
– Having mail held and picked up on a regular basis.
Question: Do you provide each reservation with insurance coverage? Including rental insurance and damage insurance?
iTrip Vacations Park City Answer: iTrip Vacations Park City provides rental and damage insurance for every guest that enters your home. Each property is insured with primary coverage for every booking through our partner Rental Guardian. Homeowners may elect for additional coverage provided by Rental Guardian for extra protection.
Question: What happens if a guest damages something in my home? Do you have a process to inspect the property after each guest’s departure? Do you have any procedures in place for when a property is damaged by a guest?
iTrip Vacations Park City Answer: It is integral that there are procedures in place for any damages that are incurred when a property is being rented. iTrip Vacations Park City takes this very seriously and has extensive measures in place to ensure that all damages are noted and accounted for, and then subsequently paid for by either the guest or the listing agent.
BONUS QUESTION: What if the reservation was booked through Airbnb?
iTrip Vacations Park City Answer: If any damage is noted, iTrip Vacations Park City will bill the guest that recently occupied the property. If the charges need to be collected through Airbnb, proper channels are already set up with third-party listing sites to begin the process of collecting funds to cover any damages incurred on the property.
Is your property being properly marketed?
Critical questions to ask your property manager:
Question: Do you list my property on all possible websites, not just the Big Five? Where will my property be listed?
iTrip Vacations Park City Answer: Yes, we go beyond the Big Five listing sites. (Airbnb, Homeaway, VRBO, Booking, Expedia) There are over 80 listing sites where properties should be listed, and we make sure all iTrip Vacations Park City properties show up on every one of them. Not only are properties visible on the sites, but each listing is optimized for the best chance possible of ranking higher in the search results and increases the likelihood of bookings.
Question: Do you have systems in place to automatically update my property’s listing if something has changed?
iTrip Vacations Park City Answer: Yes. Everything in the iTrip Vacations system is automatically dynamic in nature. We have live APIs to calendar on all listing sites so every listing will reflect real-time information and data for each property. Potential guests will never see any outdated information for your property.
Question: Do you have measures in place to stop double booking?
iTrip Vacations Park City Answer: It is not possible to double book on the iTrip Vacations system. Because the system is automated and reflects real-time information, double booking is never an issue for homeowners.
Question: Do you know how the listing algorithms work on all the major listing websites so that you can get my property on page one of search results?
iTrip Vacations Park City Answer: High rankings are incredibly important and a very high priority for iTrip Vacations Park City. If your property doesn’t show up on the first page of the search results, then the likelihood of the property being booked is severely diminished. iTrip’s proprietary software is written to feed the search algorithms of major vacation portals. By programming our systems to provide information valued by major sites like VRBO/Homeaway and Airbnb, listings are far more likely to appear on the first page of search results. This process results in an increase of up to 20% more in revenue.
Question: Do you have a strategy in place to get to the top of search results (e.g. Google, Yahoo, etc…)?
iTrip Vacations Park City Answer: The dedicated SEO team at iTrip Vacations Park City works diligently to get every property at the top of rankings on all search engines. The team also backlinks properties to external listings as well.
Question: Do you have a social media strategy in place to help increase the property’s exposure and reach?
iTrip Vacations Park City Answer: iTrip Vacations Park City is committed to having a strong social media presence and reach. Because iTrip Vacations Park City is part of the iTrip family, each property has the support and authority of a national brand behind them. Coupled with our hard-working and dedicated local ownership, each property is in the best position to be seen by as many potential guests as possible, keeping your property busy and revenue consistent. A strong social media presence adds to booking and can account for a significant amount of growing revenue for the homeowner.
Question: Are listings user-friendly on both mobile and desktop? Are they appealing on all devices?
iTrip Vacations Park City Answer: The iTrip Vacations Park City website and property listings are formatted for all mobile devices allowing for a seamless booking experience. Because screen sizes and device usage is constantly changing, it is imperative to keep listings up to date on all platforms so no opportunities are lost.
Question: Do you have a plan in place to keep pace with travel industry trends? Are you listed on Google Travel Hub?
iTrip Vacations Park City Answer: It is crucial to stay up to date and capitalize on changes in the industry. Through leadership from our corporate iTrip team and our parent company Inhabit IQ, iTrip Vacations Park City keeps pace with every evolving development in the industry. A recent example of our industry-leading position is the inclusion of iTrip properties in the new Google Travel Hub.
Question: How do you set rates? Is your pricing dynamic?
iTrip Vacations Park City Answer: iTrip Vacations Park City combines local expertise and real-time data with consumer demand stats to produce the highest possible occupancy and rates in the short-term rental industry.
Rate and occupancy data are collected from multiple online sources to determine the optimal rate for each night. Market data is then combined with our iTrip’s proprietary data related to seasonality and the current demand level in your market. The occupancy rate is weighted in the nightly cost calculation based on how far in advance the booking is made. The best part? iTrip takes care of this for every homeowner so there is never a worry about changing rates last minute. As new data comes in, rates are recalculated, to be certain properties are producing the highest possible revenue. Plus, all dynamic rates are pushed out to all 80+ listing sites properties are listed on! Prices can be adjusted based on how competitive the homeowner would like to be. Each night’s rate based on our calculations on the data we’ve collected.
What does a local presence mean?
Critical questions to ask your property manager:
Question: Where do calls go when I call my property manager?
iTrip Vacations Park City Answer: All calls are fielded by the in-house iTrip Vacations Park City team, not a call center. The local staff is available to help with any questions you may have.
Question: How many people do you have on the ground, working in the area?
iTrip Vacations Park City Answer: iTrip Vacations Park City is fully staffed to manage all support functions including owner relations, guest support, maintenance, housekeeping, and accounting.
Question: Do you have 24/7 staff that’s on-call?
iTrip Vacations Park City Answer: Yes! Staff is ready 24/7 to help.
The team at iTrip Vacations Park City would be happy to meet with you in person to understand your personal needs and the unique features of your home.
What is your strategy for attaining guest reviews?
Critical questions to ask your property manager:
Question: What kind of reviews do guests leave for the properties managed?
iTrip Vacations Park City Answer: We know how critical it is to obtain 5-star reviews. Anything less is considered unacceptable by the team at iTrip Vacations Park City. Over the years, the vast majority of guest reviews on our properties have received 5 stars. Even with 5-star reviews, the team at iTrip works diligently to continue to improve services so that we can always stay on top of what is needed to receive the highest review possible.
Question: Do you have a process to secure reviews from your guests?
iTrip Vacations Park City Answer: Yes. iTrip Vacations Park City uses a specific process to ensure everything possible is done to yield a 5-star rating. Every single interaction with a guest is an opportunity to earn that 5-star rating. If a property manager doesn’t have a process for this, their long-run performance and ratings will diminish. VRBO recently performed a study that properties with 20+ reviews book up to 48% more than a comparable property. iTrip understands how impactful a review can be for property and continues to work to put every property listed in the best position possible for a 5-star rating.
Question: How do you ensure 5-star reviews from guests who stay at your property?
iTrip Vacations Park City Answer: If you want to learn more about our process of achieving 5-star reviews, contact the iTrip Park City team to understand how every guest receives the highest level of satisfaction.
Do you have best in class cleaning services in place?
Critical questions to ask your property manager:
Question: What is your process for cleaning and disinfecting?
iTrip Vacations Park City Answer: Cleaning services are taken seriously at iTrip Vacations Park City. Enhanced cleaning is and should be expected from all property managers. A clean property is the #1 most important amenity in the industry post-COVID, so it is imperative to have a professional service with a CDC-approved property procedure and process, which we do!
Triple sheeting is also provided for all iTrip properties. Triple sheeting is all-white linens, including a bottom sheet, followed by a flat sheet, with a warmth layer which is a washable blanket or comforter and topped with a decorative top sheet. Hospital corner on the fold. All bedding is washed and sanitized after every guest.
Question: Do you have a dedicated cleaning team?
iTrip Vacations Park City Answer: Yes, there are two teams. One for cleaning and disinfecting the properties, and one for inspection afterward that ensures the property is guest-ready. Every property is also inspected after guests leave to ensure there was no damage incurred on the properties.
Question: Do you have a linen program and what does it cost?
iTrip Vacations Park City Answer: iTrip Vacations Park City does have a linen program. Our resort style triple sheeting option ensures that every home is stocked with hotel-quality linens. Contact a member of the iTrip Park City team for current rates.
Question: How do you know the status of cleaning for each property?
iTrip Vacations Park City Answer: Through cloud-based systems, alerts are received when cleaning teams arrive and when they finish cleaning. The team uses a room-by-room template to ensure everything the owner cares about is taken care of and thoroughly cleaned and inspected.
Question: Is there a separate process for inspecting the cleaning that was performed to ensure everything is guest-ready?
iTrip Vacations Park City Answer: Yes! This is critical in ensuring that nothing is missed during the cleaning and disinfecting process. Also, the inspector provides a room-by-room custom setup to ensure the home is prepared to your specifications.
What commission rate should you pay?
Critical questions to ask your property manager:
Question: When is the commission rate too low?
iTrip Vacations Park City Answer: This business requires staffing to care for homes and guests, if the rate is too low homeowners should question if the property manager can provide the level of service needed. A low rate may seem nice, but it could be a red flag. It’s also important to beware of maintenance markups – they can be exorbitant.
1. Some PMs upcharge on maintenance and others don’t. If they markup invoices as the percentage.
2. Some property managers charge for miscellaneous expenses like light maintenance. Yes, you could pay $75 to change a light bulb.
3. Some management companies charge extra for photography and Matterport tours to advertise your home.
4. Secure locking systems are a necessity but can be expensive.
iTrip Park City has competitive commission rates that do not have any hidden maintenance or additional fees. Every property is taken care of as if it’s our own, and we are sure that all fees you pay are worth it.
Miscellaneous charges can add up. Homeowners are often nickel and dimed to the point of frustration. Light maintenance is covered and there is no additional markup on maintenance. Homeowners only pay what is charged to the property manager.
The iTrip Park City system automatically adjusts the rate that guests pay to pass on any booking fees from third-party sites.
Guests also pay cleaning fees so owners will never see a line item for cleaning as an expense.
Professional HDR photography and Matterport 3D tours are included in the iTrip service at no additional cost.
We offer integrated locking systems from Kaba and a remote access management system. There is a wide assortment available and we can help you choose the ideal locking system to provide security and peace of mind.
iTrip Park City does not charge booking fees to guests. This makes your property more attractive to book when guests are shopping for a vacation rental.
Question: What are the important details in your home that need to be looked after?
iTrip Vacations Park City Answer: Whatever is important to you is our priority. If you want a custom setup for your home on arrival then our inspection will prepare the home to your specifications. We are here to protect your investment to provide a pleasant worry free owner experience.
Question: Who pays the cleaning fees?
iTrip Vacations Park City Answer: iTrip Vacations Park City pay’s all cleaning fees, so homeowners are stress-free.
Question: Does the property management company charge a booking fee and what is it?
iTrip Vacations Park City Answer: It’s very important to be mindful of this when speaking with property managers. Some charge up to 9% to the guest. This is not good for performance in the long run because: 1) Owners don’t get a cut. 2) Guests are less likely to book with added fees.
Are you a data-driven company?
Critical questions to ask your property manager:
Question: Are you fueled more by experience or data?
iTrip Vacations Park City Answer: Both. Using the two together allows iTrip Vacations Park City to have greater insight into all property listings. This includes data about the property, industry insights, and knowledge about the guests. Analyzing the data, coupled with iTrip’s extensive experience to fuel business decisions.
Most property managers utilize experience as their main driver in terms of their business strategy. Now, experience is still critical to incorporate into a vacation rental property manager’s duties, but we are living in a data-driven world, and this data can be used in so many more ways than experience to make improvements, optimize efficiencies, and fuel an increase in revenues.
The data that we utilize is real and up to date and it will benefit all of the properties over time. A company that isn’t using data as much now, will be left in the dust 10 years down the road because they haven’t invested in what data can do for their company.
Question: Are you using data to drive your business decisions and practices?
iTrip Vacations Park City Answer: Yes. iTrip Vacations Park City takes a data-driven approach backed with our in-depth industry knowledge to make sure your home is receiving the bookings it deserves. We can accurately estimate revenue forecasts, identify upcoming industry trends and market conditions so we can adapt and evolve in the ever-changing business of Vacation Rentals.
Rest assured there are no exorbitant, unrealistic revenue projects that aren’t backed by facts.
Question: What data are you using? And how is it impacting your business?
iTrip Vacations Park City Answer: iTrip Vacations Park City partner company Key Data provides deep insights about the industry with thousands of property managers around the world. The team can access industry insights and more data than anyone else in the industry. This allows the property managers to keep your vacation home competitively priced, and fully booked.
Is your property manager going above and beyond for your property?
Critical questions to ask your property manager:
Question: Do you have a finger on the pulse of the industry? Are you staying on top of trends in the industry?
iTrip Vacations Park City Answer: It is critical to stay on top of industry trends, so regular analysis is performed on what potential guests are searching for and listings are adjusted accordingly. Keywords like “ski in and ski out,” “hot tub,” “free shuttle route” and other amenities like cleanliness and disinfection are highlighted as key features for guests looking to rent out properties. This information allows the iTrip Vacations Park City team to know what is popular and what can be capitalized on. Changes are based on learnings from industry trends to capture additional revenue and bookings.
Question: What are you doing with your properties to make them stand out from the rest?
iTrip Vacations Park City Answer: There are many ways iTrip Vacations Park City makes our properties stand out from the rest. They include:
– Professional photography.
– 3D Matterport tours of our properties.
– Systems integrations to place your listing on page one of search results on major portals like VRBO/Homeaway and Airbnb.
– Enhanced CDC-approved cleaning procedures.
– Triple sheeting with all-white bedding that is washed after each guest’s departure.
– Resort-style bath amenities.
– Contact-free self-check-in.
– 24/7 Guest service.
– A level of staging to highlight your property’s best assets
– Concise and clear descriptions of the property. This can include bedroom and bath descriptions.
– Every guest stay includes free daily activities from our partner Xplorie. This free guest amenity makes your listing stand out from others when travelers are searching for a vacation home. In addition, owners in the iTrip rental program enjoy free Xplorie activities every time they visit their Park City home.
– All properties include a technology personal assistant (Xeva). It is a custom programmed Alexa unit that enhances the guest experience. Xeva answers questions about the home’s features like the wifi code and checkout instructions. It also has been curated to be a guide to Park City amenities such as food transportation and many others. Guests simply ask Xeva for a recommendation and Xeva provides an instant answer.
– Our homes receive more 5 Star reviews than the competition.
Hiring a property manager should never be rushed into or taken lightly. There are many considerations when trusting another party with your investment. Like the properties themselves, no two property managers are alike. When you do choose a property manager in Park City be sure to understand why this will be a benefit to you and not more of a hassle.
If you have any questions or would like to talk to us about iTrip Vacations Park City Property Management Services, please contact Jessica Shulz using the information below:
Email: [email protected]
Phone: 435-655-5834