How does ResortQuest Steamboat's rental management care for my property?

Owning and maintaining a vacation home is a complex process which requires attending to many details and issues, including housekeeping and maintenance - in addition to securing rentals.

Our team takes the worry and stress out of vacation home ownership by paying attention to all of those details for you.  We not only market your vacation home to potential renters but make sure your home is properly cleaned and cared for during the time you are not in residence.  Should your home require maintenance from a leaky faucet to replacing a hot water heater, we are here day-in and day-out to be sure the job is done correctly and within budget.

The ResortQuest quality assurance and rating system (bronze, silver, gold, platinum) not only helps match guest expectations with accommodations but helps you know when it's time to upgrade decor and furnishings.  This is both a planning tool and a guide to increase rental revenues.

Our property services team provides personal and professional service, helping you to get the most value from ResortQuest's programs.  They are available to recommend ways to increase revenues, help coordinate deliveries, assist in making your reservations, review your monthly statement for accuracy and make your vacation home ownership enjoyable and hassle-free.

Homeowners who participate in the Rental Progam pay a non refundable origination fee of $350 to defray ResortQuest's expenses in establishing their vacation home in ResortQuest systems. This charge includes but is not limited to:

• Registering Unit in ResortQuest's Property Management Software
• State/Local Tax Registration, as applicable
• Photography of Unit
• Building Unit into ResortQuest's website
• Initial Inventory inspection (excluding Inventory necessary to make Unit rental ready)
• Initial Maintenance inspection (excluding services necessary to make Unit rental ready)
• Initial Housekeeping set up

Can I rent my condominium unit myself?

Per our Rental Agreement, homeowners grant ResortQuest the sole exclusive right to rent and manage their unit. Homeowners agree to conduct all rentals of their unit through ResortQuest and they agree to pay to ResortQuest any rent or fees received for the rental of the Unit.

Over the past few years we have successfully partnered with several of our owners who market their vacation home websites like http://www.vrbo.com/(Vacation Rentals By Owner). Homeowners manage their listings on these websites and refer all reservation inquiries to ResortQuest. We require owners to advise us of their listings, to work with our marketing team to ensure it meets our guidelines, and that they refer all requests directly to our reservations team. In line with the terms of our Rental Agreement, we incentivize homeowners to market their own vacation home and send the inquiries to us.

There are several factors which ensure your unit is rented fairly and equitably. First and foremost, our in-house vacation planning specialists are extremely well trained, and are coached on a daily basis. Our team utilizes Navis Technolgies, an industry leading call accounting and call recording software. This tool, coupled with the intensive, ongoing training ensures that our customers are perfectly matched with a vacation home that meets all of their needs.

Secondly, ResortQuest has developed a quality assurance and rating system (Platinum, Gold, Silver and Bronze) which not only helps match guest expectations with accommodations but helps you know when it's time to upgrade decor and furnishings.  This is both a planning tool and a guide to increase rental revenues. ResortQuest's reservation's software sorts vacation rentals within a property, first by the condo rating, and then by the number of rental nights. This ensures fair and equitable rentals.

Finally, unlike our primary competitors, ResortQuest Steamboat's website represents each and every one of our vacation rentals individually with detailed descriptions, photos and a map pinpointing its precise location. Our guests are able to request a specific unit. We have empowered our guests so that they can "know before they go"; we take the guessing game out of vacation planning; and provide them with the security of no surprises! Wherever possible, ResortQuest endeavors to equalize rentals, however there are inevitably some premium vacation rentals that stand out from the crowd. Our website and 'At your request' program ensures that these supreme condos receive the attention - and bookings - they deserve.

A proformer of comparable properties managed by ResortQuest is available upon request.

Throughout the year, the Marketing and Sales team at ResortQuest Steamboat conduct intensive competitive set analysis to determine rates. We carefully review each vacation rental type, quality, location, amenities and services. We track and monitor seasonal demand. We collaborate with our tour operators and with our colleagues at other ResortQuest ski destinations to pool sophisticated revenue management techniques - specific to our industry, to our local market and to our properties.

Our rates and booking policies are not set in-stone. We continuously monitor and adapt to consumer demand and behavioral patterns.

Any travel agent commissions are netted out of the room rates prior to the commission split. Tour operator commissions are typically a 20%, while traditional travel agents receive 10-12% commission. Steamboat Central Reservations bookings range from 15-20% commission. We partner with all of these booking agents to market creative vacation packages, deals and value-add specials. Travel agent commissions are deducted from the reduced rates.

Homeowners agree to pay ResortQuest a thirty-two percent (32%) of all "Rental Revenue" for all reservations of less than thirty (30) days, and twenty-three percent (23%) for all reservations of thirty (30) days or longer.  "Rental Revenue" means the nightly/weekly/monthly rental derived from rental of the Unit, whether rented by Owner or ResortQuest, less: travel agent and travel intermediary fees and commissions; housekeeping fees; credit card discount and processing fees, and marketing and advertising fees. For more information, please refer to the Fee Schedule on page 6 of the Rental Management Agreement.

A thirty-two percent (32%) commission is deducted from rentals in order for ResortQuest Steamboat to provide superior resort services to guests and owners. These services include:

• Housekeeping labor, linens cleaning and supplies
• Guest in-room amenities
• Marketing, advertising and website maintenance
• Toll free reservations phone lines and call accounting software
• Marketing, sales and reservations staff
• Front Desk staff
• Concierge staff

Owners are responsible for the costs of cleaning upon the owner's departure, utilities for their units, winter shuttle service (if not included in the Association budget), maintaining a private telephone, contents and liability insurance inside their units, and initial rental program deposit, the expense of periodic spring/ fall cleaning deep-cleaning, interior maintenance or necessary repainting, and redecorating or replacement of appliances due to wear and tear or obsolescence.

Please refer to the Rental Management Agreement (available upon request), specifically the Fee Schedule on page 6, and the Working Balance in section 5.10

Monthly.

One year.

The term of the Rental Management Agreement will start on the date it is signed by the Owner and will continue until terminated by either party on thirty (30) days' prior written notice.  The contract will automatically renew each year on anniversary of the Annual Renewal Date for a Term of one additional year.

ResortQuest only requires that homeowners make their vacation home available to ResortQuest for rental for at least ten (10) weeks during ski season. The Owner will be responsible for final cleans fees for owner and guest-of-owner stays, and for periodic deep cleaning, as well as cleaning of flooring, upholstery, and specialty linens, etc. needed at the discretion of ResortQuest.

ResortQuest provides our homeowners with several ways of booking your unit. Each year, we distribute an owner calendar letter which asks for your anticipated vacation dates for the upcoming seasons.

Secondly, homeowners in the rental program have access to a secure website, OwnerNet, from where they can book stays, view past and future reservations in their unit, and review monthly statements.

And, of course, our homeowners may book their unit by calling or emailing our reservations and guest services team at our Homeowner Toll Free Hotline, (866) 921-3263, or by emailing .

Homeowners may purchase daily housekeeping services a la carte.

Want to know more about our vacation rental and property management services for your Steamboat home? Contact us to learn more. Call (866) 921-3263, email or complete our Request for Info form.

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