From Cleaning to maintenance, inventories to inspections, and staging to scheduling, there is a lot to juggle when managing a vacation rental. Fortunately, Altez Vacations has built upon its years of hospitality management to build a foundation set on quality to product and service that allows our properties to meet our guests discerning tastes. Altez Vacations has the management services to make vacation rental ownership easy.
Diamond Standard Quality
Proven luxury accommodation standards for the operation, management, and care of our vacation rental properties.
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Personalized Staff
24- hour attentive service staff who look after every detail of a reservation for our guests and owners.
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Properties That Wow
Your home is the destination experience. Make the aesthetics, function, and form appeal to more guests.
Learn Morequality expectations
Diamond Standard Quality
The success or failure of a vacation rental property hinges on its ability to earn 5-Star reviews. Our promise to you is a promise to our guest. All properties will provide an environment which meets our property, cleaning, service, and quality expectations.
Property Standards
An index of furnishings, amenities and supplies required of each vacation rental to maximize the function of each home.
- Provide the Features & Amenities your guests are looking for
- Bi-Annual Inventory
- Design & Staging Services
- Life-Style branding
Cleaning & Conditions Standards
Guidelines set for housekeeping staff and property liaisons regarding the cleanliness and working condition of every property
- 100-point Cleaning Checklist
- Bi-Annual Deep Cleanings
- Post-Stay Inspections, Closing and Securing
- Rapid Response repairs and maintenance
Service Standards
Service standards that exemplify the excellent care and service provide to our guests and owners.
- Altez Certified Training
- Pre-Stay Arrival Property Opening
- Stocking of Guest Supplies
- Personalized Welcome Amenities
team-based approach
Personalized Staff
The traditional property management model is antiquated in the short-term rental market. Property managers rapidly become overwhelmed with the consistent day-to-day responsibilities leading to substandard performance. Altez Vacations provides a team-based approach of dedicated and attentive staff to provide comprehensive services for both our owners and guests.
- Service Liaison: Our first in-line dedicated team member who oversees the day-to-day operations of the properties before, during and after each reservation.
- Property Operations Managers: Our project managers and long-term operational strategists who coordinate, facilitate, and support the Service Liaisons, Housekeeping, and Maintenance staff to ensure the continued success of each property.
- Guest Service Managers: Our dedicated guest advocate, experience builder, and concierge, who manages every guest reservation and ensures guest happiness.
- Maintenance: Contracted local vendors to provide a comprehensive maintenance service including maintaining features around the house such as pools/spas, appliances, and landscaping.
- Housekeepers: Expertly trained cleaning staff to provide consistent outstanding properties. Our properties are cleanest in the industry.
design and staging
Creating Properties That Wow
Make your home part of the destination experience. Let Altez Vacations take care of the design and staging of your property. Altez Vacations specializes in helping your property find its unique selling point to make sure it stands out from the crowd.
All Altez Design & Staging services are individualized based on the unique nature, function, and artistic elements of the home. The Altez Team and each homeowner collaborate to come up with a pricing strategy based on your project goals, the design components, and overall square footage of the home. We accomplish this through our 5 Stages of Detail to comprehensively examine every aspect of the guest stay from the Micro to the Macro.
Location
What is the 10,000 ft view? Where is the property, what are its immediate surrounding? What does the general location offer to the guest?
Structure
What type of property is it? What is the properties Architectural Style, what is it’s floor plan? How are you accentuating these features, and qualifying its fixtures?
Function
Who does this property serve and for what purpose?
Form
What are the furnishings, fixtures, and amenities of the property? How do they contribute to the aesthetic, form, and function of a three-dimensional space: length, width and height, scale and size, position and relation?
Texture
It’s the Finesse of the property. Small features and amenities that increase the function of the property and the guest experience. How do these textures engage the 5 senses and acquire the guests’ desires?
Vacation Rental has never been hotter.
Don't wait another second, it's time to catch the wave, with the right partner it's never been easier.
REVIEWS & TESTIMONIALS
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Saved My Home
I ran into some financial difficulties and decided that I would rent my house as a short term rental to supplement my income. Altez Vacations did a great job booking and managing my property, I never had to worry about anything, Altez took care of it. Through Altez's efforts I…
William H., Fl
An Owners Perspective
I decided to do a trial run and allow Altez Vacations to manage the Aerie as a lease/rental property. To my surprise and pleasure, I have never seen the Aerie kept in better condition. Altez Vacations hires only the best staff to care for the Aerie and also lease to…
Jerry D., NC
Outstanding
If you're looking for a exceptional organization to partner with for leasing your property, search no further than Altez Vacations! I am so pleased and impressed with their superior performance. Altez Vacations is a trustworthy, responsive, and professional operation. Altez Vacations employs all the relevant platforms to effectively market your…
Jane C, Florida
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The Perfect Place To Get Away
The house here is perfect. We stayed for three days with another couple and had a blast. We fished off the dock in the neighborhood at night and went to the beach and swam in the pool for most of our vacation. The pool is nice and quiet and the…
Liz W., Florida
A Slice Of Heaven In Sunny Siesta Key!
We absolutely loved everything about our rental! Spacious, beautifully decorated with loads of amenities - it was perfect for our needs! Everything was in excellent condition - we especially enjoyed the modern kitchen. Screened-in patio was ideal for end of day cocktails. We were very close to Siesta Key beach…
Maia G, Florida
marketing strategy
Converting High quality Service into more reservations
For many owners, the ability and decision to make a quality-based vacation rental comes down to the ability to make the return-on-investment worth it. Top performing properties need a comprehensive marketing strategy based on data and ingenuity. Altez Vacations incorporates a multi-layer analytical marketing approach to get your property in front of the right guests to increase your demand and rental revenue.
Learn more about how Altez Vacations is able to make you a Top Performing Property.
Service
Featuring two comprehensive services to meet your needs.
Collective
For the homeowner who wants to manage their own property but does not want to handle the time-consuming tasks of answering inquiries and guest questions. We will handle all the upfront work from marketing and promoting to answering inquiries and booking to collecting payments so you can focus on the management of your property.
Full Service
Sit back and relax as we manage every aspect of your rental property. From marketing and promoting, to housekeeping, stocking, staging, maintenance and more. Our dedicated 24/7 on the ground services will ensure that your property receives a comprehensive hands-on approach for every reservation.
LEVELS OF SERVICE
| Altez Vacations Services | Collective 10% |
Full Service 23% |
|---|---|---|
| Global Markting & Listing Distribution | ||
| Reservation Management | ||
| Guest Screening | ||
| Payment Collection | ||
| Dynamic Revenue Managment Pricing | ||
| Professional Photography | ||
| Guest Pre-stay Communications | ||
| Management of Taxes & Permits | ||
| Altez Certified Diamond Standards | ||
| 24-Hour On-site Manager | ||
| Housekeeping Services | ||
| Post-Reservation Inspections | ||
| Post-Cleaning Inspections | ||
| Pre-Reservation Inspections | ||
| Scheduled Maintenance Services | ||
| Stocking of Guests Amenities |
Steps to Partnership
Choose Your Level
Select the best level to fit your needs
Send an Inquiry
Complete our owner inquiry form, or send us an email directly
Owner Representative
A Personal Owner Representative will ensure we are providing the right services for you
Registration Completion
Complete agreements. Property Evaluations, Comparative Market Analysis, and Assesment as needed
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Contact Us
The Time is Now
Don’t wait another minute. By acting now, it costs you nothing for a free estimate and to see if we are a good match for your goals. Vacation Home Ownership can be much easier than the industry has made it. See what a different experience is truly like. Altez Vacations will take you to a level that will spoil you forever and frankly you deserve it.
FAQ’s for Owners
The Vacation Rental Guest Screening Verification Process
One of the most critical responsibilities of a vacation rental manager is to ensure that our properties are rented to responsible guests through a guest screening verification process. Having a dependable guest not only protects the property’s value but also provides peace of mind to the property owner. Altez Vacations goes to great lengths to ensure that our guest screening verification process is always up to date.
Extensive Guest Verification: We begin the guest verification procedure as soon as possible. We undertake an automatic screening of the guest through our integrated partner, Safely.com, using basic information obtained from the guest at the time of booking. The software performs a full background check, utilizing global databases to validate the guest’s identification and search for any previous offenses. This is crucial for us because it helps us screen potential high-risk renters, ensuring that our properties are in excellent hands.
Instant Feedback: Time is of the essence in the vacation rental business. Waiting several days for a background check result can lose us a booking. We acquire a comprehensive report on the visitor, allowing us to make informed judgments swiftly.
Screening Criteria Can Be Modified: Because each property and owner is unique, the screening criteria can be modified. Safely.com understands this and allows us to develop custom screening rules. Whether it’s a pet policy, an age restriction, or any other unique condition, the program adapts to our needs.
Insurance Provides Peace of Mind: In addition to screening, Altez Vacations offers accidental damage insurance coverage as an added degree of security. There is a safety net in place to ensure that property damage is paid in the uncommon event that something goes wrong.
How Much Does it Cost to Own A Vacation Rental?
The cost of owning a vacation rental varies based on factors like the property’s location, type, size, and the amenities you offer. Here’s a breakdown of the expenses you might encounter when owning a vacation rental property:
Acquisition Costs: This covers the property’s purchase price, closing costs, and any renovations or refurbishments to make it ready for renting.
Management Fees: Hiring a property management company means accounting for their fees, which often range between 20% and 40% of rental income.
Cleaning and Maintenance: Ensuring the property stays in top condition requires cleaning between guest stays, performing routine inspections, and making repairs. While guests usually cover Standard Cleaning Fees, owners should budget for a bi-annual deep cleaning.
Utilities: Owners usually handle expenses for electricity, water, gas, and internet, especially for short-term stays.
Insurance: You might need specialized policies for potential risks, such as guest damages, natural disasters, or liability coverage.
Property Taxes: These taxes differ based on the property’s location and value.
Furniture and Amenities: Furnishing the property involves investing in furniture, appliances, and amenities. Plan for periodic replacements and upgrades.
Marketing and Advertising: Attracting guests can entail costs like listing fees, website development, or online ads. Property managers often handle this.
Guest Amenities: Expenses can include toiletries, linens, towels, and kitchen supplies. Sometimes, the Vacation Rental Manager’s Fee covers these.
Taxes and Permits: Your location may require you to pay occupancy or tourist taxes or secure permits for operating your rental. Guests typically handle sales taxes, and property managers remit them.
HOA Fees and Rules: Owning property in a homeowners’ association means paying dues and following their regulations.
Accounting and Legal Consultation: Consulting with professionals about taxes, legal matters, or setting up a legal entity can incur fees.
Miscellaneous Expenses: Plan for unexpected costs, like urgent repairs, landscaping, or property upgrades.
To determine the true cost of owning your vacation rental, create a comprehensive budget factoring in all these aspects. Remember, rental income can vary seasonally, and there may be times when it doesn’t cover all expenses. Plan accordingly.
What Is A Good Profit Margin For Vacation Rentals?
The typical profit margin for a vacation rental can vary greatly depending on a number of factors, including the property’s location, the local tourism market, the property’s quality and upkeep, management expenditures, and the overall economic environment.
Most vacation rental owners strive for a profit margin of 10% to 20%. This range is vast since rental properties and market conditions vary greatly.
Profit margin in the context of investment real estate is a measure of how much net income a property produces as a percentage of its revenue. It provides investors with an idea of the property’s operating efficiency and the potential return on their investment, excluding factors like property appreciation. Here’s how to measure it:
Profit Margin Formula:
Profit Margin = Net Income\Total Revenue
Where:
- Net Income is the total revenue minus all expenses associated with the property (excluding financing costs).
- Total Revenue is the gross income generated by the property, typically from rents.
Steps to Measure Profit Margin:
Determine Total Revenue: This is primarily the rent collected over a specific period, but it can also include other income streams like laundry income, parking fees, or any other fees charged to tenants.
Calculate Total Operating Expenses: These include but aren’t limited to:
- Property management fees
- Maintenance and repairs
- Property taxes
- Insurance
- Utilities (if not paid by tenants)
- Marketing and advertising
- Legal and professional fees
- Licensing and permit fees
- Vacancy costs (potential rental income lost when the property isn’t rented)
- Other miscellaneous expenses
Determine Net Income: Subtract the total operating expenses from the total revenue.
- Net Income = Total Revenue – Total Operating Expenses
- Apply the Profit Margin Formula Using the net income and total revenue figures, calculate the profit margin.
Revenue Factors:
Rental revenue can vary depending on:
Occupancy Rate: How frequently does the property rent? Higher occupancy rates may be seen in popular destinations or hotels with great marketing.
Nightly Rate: Determined by the value proposition of the hotel in comparison to adjacent competition. Seasonality might also be a factor.
Additional Revenue Streams: For example, selling experiences, renting out equipment (such as bikes or kayaks), or charging for late check-outs.
Market Specifics: Profit margins in popular tourist destinations with high average nightly rates and consistent demand can be significantly higher. Properties in places with a short tourist season or significant competition, on the other hand, may have thinner margins.
Trends: With the rise of platforms such as Airbnb and VRBO, the vacation rental landscape has altered, making it easier for private homeowners to enter the market. This transition has resulted in increasing competition in many industries, which may have an impact on profit margins.
Important Considerations:
Financing Costs: Profit margin as defined here does not consider mortgage or other financing costs. If an investor wants to factor in these costs, they should be subtracted from the net income.
Depreciation: For accounting purposes, real estate properties can be depreciated over time. However, depreciation is a non-cash expense and isn’t typically factored into profit margin calculations for investment real estate.
Profit Margin vs. ROI: While both metrics provide insights into an investment’s performance, they serve different purposes. Profit margin focuses on operational efficiency, while Return on Investment (ROI) takes into account the total return relative to the amount invested.
Property Appreciation: Profit margin does not consider the appreciation in property value over time. Real estate investors often benefit from both rental income (yield) and appreciation, so it’s crucial to consider both when evaluating the total return on a property.
Capitalization Rate
Understanding the capitalization rate (cap rate) of a vacation rental can also provide insights into its average profit margin.
To illustrate, let’s say you have a vacation rental with an annual Net Operating Income (NOI) of $20,000 and its current market value or purchase price is $200,000. Using the cap rate formula, Cap Rate = NOI – Purchase Price the cap rate would be 10%. If this 10% cap rate is considered average or typical for the market, it implies that properties in this market generally produce a return of 10% on their value before financing costs. This return can be equated to the profit margin for a cash purchase.
It’s crucial to understand, however, that while both cap rate and profit margin provide a percentage representation of return, they aren’t strictly the same. Cap rate primarily focuses on the return relative to the property’s value, while profit margin considers the return relative to the revenue. Yet, in markets where cap rates are publicly available or easily calculated, they can serve as a useful proxy or starting point for understanding potential profit margins.
In summary, the profit margin for investment real estate provides a snapshot of a property’s operating performance, but it’s only one of many metrics that investors should consider when evaluating a property’s potential returns.
What Does A Property Management Company Do?
Full-service property management refers to the comprehensive range of services provided by property management companies or individual property managers to oversee and maintain vacation rental properties on behalf of property owners. Full-service property management tries to maximize rental income from the property while limiting the owner’s participation and stress.
Property Manager Roles:
Property Marketing: Property managers are in charge of promoting and marketing vacation rentals through a range of Physical and Digital Marketing platforms. Digital Marketing platforms may include social media, their own website, Google Ads, and Online rental websites (such as Airbnb, VRBO, booking.com). We also create premium property listings with skilled photos and content to attract potential visitors.
Booking & Reservations: Property managers are in charge of making reservations, responding to visitor inquiries, and managing booking requests. We manage reservations, verify visitor information, and simplify check-in and check-out procedures.
Pricing optimization: Property managers use data analysis and market research to find the optimal rental rates for a property. To maximize rental income, we use Dynamic Pricing to adjust prices based on seasonal demand, local events, and other factors.
Guest Services: Full-service management frequently communicates with and supports guests. During their visit, property managers may give guests information about the property and nearby activities and respond to any questions or concerns they may have.
Cleaning and maintenance: Property managers plan regular cleaning, maintenance, and repairs to keep the property in good shape and ready for each guest’s arrival. This includes cleanliness, landscaping, and addressing any maintenance issues as quickly as feasible.
Security and guest screening: To ensure the safety and security of the property, property managers may implement guest screening techniques. We also handle policies that cover damage deposits and security deposits.
Finances: Property managers handle the financial aspects of renting out a home. This includes accepting rent payments and additional visitor fees, as well as regular payment and financial reporting.
Legal Compliance: Vacation rental property managers are aware of the rules and license requirements in their area. We verify that the structure conforms with all applicable laws and regulations, such as zoning, taxation, and safety standards.
Marketing and Promotion: In addition to listing the property on numerous rental platforms, property managers utilize marketing strategies such as email marketing, social media campaigns, and promotions.
Owner Reporting: Property managers provide owners with regular reports on the status of their vacation rental, such as occupancy levels, rental income, and maintenance expenditures. We provide owners with regular information and updates to keep them informed.
Full-service management may be especially beneficial for property owners who lack the time or skill to manage their vacation rental property themselves. Property managers frequently charge a fee or commission for their services, but given the convenience and potential for better rental income, it can be a reasonable investment for many property owners.
Why We Advocate for Vacation Rental Damage Protection to Our Homeowners
In the fast-paced world of vacation rentals, our primary mission is to keep the houses we manage, including yours, in good condition and safe. That is why we strongly recommend vacation rental damage protection insurance.
Protecting the Value of Your Property
Accidents in properties may and do occur, whether it is a broken decoration or an unintentional wine spill. While security deposits can be useful as a deterrent, they may not always cover considerable repair or replacement costs. This is when vacation rental damage insurance comes in handy. This insurance is intended to cover unintended damage caused by guests. This implies that, in the unusual event of a problem, we won’t be left negotiating additional charges or subtracting unforeseen expenses from the deposit. Our primary purpose is to protect your property.
Establishing Trust in Our Collaboration
We recognize that your property is more than just a structure; it is an investment and maybe a part of your legacy. Adopting damage protection demonstrates our proactive approach to protecting your asset. It’s a way for us to show you how much we care about you and your property.
Increased Guest Confidence
Many guests are hesitant to rent homes because of the potential for large fines for unintended damages. Promoting a property with damage protection insurance gives potential visitors peace of mind, making your house more appealing to prospective renters and resulting in higher bookings.
In conclusion
As property management professionals, we think that our clients deserve the best. Vacation rental damage protection is more than just another coverage for us; it demonstrates our dedication to preserving the integrity and value of your property. It’s about cultivating a connection based on trust, openness, and a commitment to provide the greatest experience possible for both our homeowners and guests.
What if there is a mechanical issue at the home?
Oh no, the air conditioning has broken! No need to sweat it. Altez Vacations has been building a trusted list of vendors nationwide. We can help arrange and coordinate any repairs that may be needed for your property. Payment options and plans will be organized in the Home Owner Contract.
Will I still have to pay for my utilities while my property is rented?
Maintaining and paying for the homes utilities is the sole responsibility of the homeowner. The goal of Altez Vacations is to generate enough revenue for your property so the rental revenue will cover these expenses.