Thursday, November 15, 2018

Frisco tables short-term rental ordinance until December



Frisco tables short-term rental ordinance until December

Summit Daily staff report
 
Short-term rental regulations in Frisco will have to wait. The Frisco Town Council chose to table the proposed ordinance at their regular meeting Tuesday night after an impassioned debate between council members and members of the public raised concerns about the town's readiness to move forward.
During the public hearing on the ordinance — which seeks to reduce negative neighborhood impacts stemming from rentals, ensure owner compliance with regulations and improve guest safety — residents raised concerns about the responsibilities of the "responsible agent," occupancy limits and the overall clarity of the draft among other issues.
Town council members were also hesitant to move forward with the ordinance, citing concerns regarding the amount of liability that rental owners would take on within the current draft, even for issues like trash, parking and noise wherein they have little control over their guests. But the biggest debate raged around occupancy limits, as some council members pushed hard to introduce limits to the ordinance while others felt that limits were unnecessary and would be inherently unfair to long-term renters.

"This is important," said Councilwoman Deborah Shaner. "This is a huge decision. … there's so many holes in this right now. We need more time to do this right."

The ordinance will likely return to the agenda during the Frisco Town Council meeting on Dec. 11 for a first reading.


https://www.summitdaily.com/news/frisco-tables-short-term-rental-ordinance-until-december/

Wednesday, November 14, 2018

check out the Summit County Responsible Agent services that we offer.


Breckenridge Responsible Agent
As defined in the Ordinance enacted by the Town, a Breckenridge Responsible Agent (or Breckenridge Alternate Responsible Agent) has the following general responsibilities:
[The] responsible agent, or such person’s employee or designee, shall be available twenty four (24) hours per day, seven (7) days per week, to respond (as defined in the administrative rules and regulations) to any complaint filed with or through the Town, or a website provided by the Town for such purpose, about the operation or condition of the licensee’s accommodation unit. Such responsible agent shall respond to a complaint within sixty (60) minutes of receiving notice of such complaint.
The accompanying Administrative Regulations from the Town of Breckenridge further provide that "a proper response to a complaint may also require the responsible agent... to visit the accommodation unit if such action is necessary to attempt in good faith to eliminate the problem that was the subject of the complaint."
For more information, please read our news post on the Town's new requirement for a Breckenridge Responsible Agent.
And, check out the Breckenridge Responsible Agent services that we offer.

Silverthorne Responsible Agent
As defined in the Ordinance enacted by the Town, a Silverthorne Responsible Agent (or Silverthorne Alternate Responsible Agent) is defined as follows:
an individual who is available for immediately responding to any issues arising from the Short Term Rental Property 24 hours per day, 7 days per week.
Each Silverthorne short-term rental property owner must designate a Responsible Agent.  The Town is establishing a call center hotline to receive complaints regarding short-term rentals.  When the call center receives an initial complaint concerning a Silverthorne short-term rental, it shall be directed to the Responsible Agent.  The Ordinance states that the "Responsible Agent shall resolve the issue that was the subject of the complaint within sixty (60) minutes, or within thirty (30) minutes if the problem occurs between 11:00 p.m. to 7:00 a.m., including visiting the site if necessary."   
The Town Ordinance generally requires that the Silverthorne Responsible Agent “respond to and attempt to address in good faith the issue that was the subject of the complaint….”  If, despite good faith efforts, the problem that was the subject of the complaint cannot be eliminated, the Responsible Agent must  immediately contact Police Dispatch, and follow any directions given to the agent by the dispatcher.  When the Silverthorne Responsible Agent (or Silverthorne Alternate Responsible Agent) believes that the complaint has been successfully eliminated, they must promptly notify the Town’s call center.  If the Town’s call center does not receive notification from the Silverthorne Responsible Agent that the complaint has been successfully eliminated within 60 minutes (or within 30 minutes if the problem occurs between 11:00 p.m. to 7:00 a.m.), it shall be presumed that the complaint was not successfully eliminated.  If a complaint is not eliminated to the satisfaction of the complaining party, that party may file a formal complaint with the Town.  If the Town thereafter finds a violation occurred, potential penalties for the short-term rental owner include fines and suspension or revocation of the their license.
For more information, please read our news post on the Town's new requirement for a Silverthorne Responsible Agent.
And, check out the Silverthorne Responsible Agent services that we offer.

Our Fees for Responding to a Hotline Complaint
Most self-managed short term rental owners do a great job minimizing the possibility for a Hotline Complaint.  What those owners want from us is the most cost-effective means of complying with Local Government regulations for a Responsible Agent.  With this mind, we tailored our base subscription to be as low as possible. If we don't receive a Hotline Complaint regarding your short term rental unit, you pay nothing more than our subscription amount.
In the rare event that we do receive a Hotline Complaint regarding your unit, our fee schedule is as follows:
           $29.99 flat fee; and
           $74.99 per hour for the total time spent in our efforts to provide response and resolution.
Can You Recoup Fees for a Hotline Complaint from Your Renters? Yes
For self-managed hosting services like AirBnB and VRBO, you can include terms in your listing that let short term renters know when they might incur extra charges.  When you designate us as your Responsible Agent, we provide you with those terms so you can make it clear that your renter is responsible for Hotline Complaints and our Fee Schedule.  If those terms are added and your renter causes a Hotline Complaint, you'll be able to potentially pass along any of our response fees to recoup them from your renter.

Monthly Local Agent
$75.00 per Month
           Locally Based
           24/7 Coverage Every Day
           Timely Complaint Response

Yearly Local Agent
$600.00 per Year
           Locally Based
           24/7 Coverage Every Day
           Timely Complaint Response

Silverthorne Passes Short-Term Rental Ordinance with Responsible Agent Requisite

Silverthorne Passes Short-Term Rental Ordinance with Responsible Agent Requisite

As with other local towns and the Summit County government itself, the Town of Silverthorne has been swiftly working toward adoption of its own short-term rental ordinance.  On October 24, 2018, the Town Council conducted its second reading and thereafter passed the ordinance into law.  With that passage, Silverthorne joined Breckenridge as the second governmental entity in Summit County to finalize and enact new regulations, which regulate short-term rentals.  Dillon, Frisco and Summit County all continue to work toward the adoption of similar regulations.

Short-Term Rental License and Application

At least 30 days before advertising or leasing a Silverthorne short-term rental property, the owner is now required to file an application and obtain a license.  If the property is within a duplex, the application must include a copy of written notice that was provided to the owner of the adjacent unit.  In a slight departure from what other local governmental authorities are currently considering, Silverthorne will require short-term rental owners to submit a sworn affidavit certifying that their property complies with health and safety standards listed in the ordinance.  A complete list of all such health and safety items can be found in Section 1-13-8 of the Silverthorne ordinance, but they include certifying that:
  • smoke detectors, carbon monoxide detectors and fire extinguishers are installed and operable;
  • roofs, floors, walls, foundations, ceilings, stairs, handrails, guardrails, doors, porches and all other structural components will be capable of handling all loads to which they may be normally subjected; and
  • electrical panels are clearly labeled.

Silverthorne Responsible Agent

In order to obtain a Silverthorne short-term rental license, the Town now requires each owner to name a Responsible Agent.  While it’s possible for the owner to name themselves, the ordinance contains some of the strictest requirements that have yet been adopted locally.  In that regard, the Silverthorne short-term rental defines a Responsible Agent as someone who is available 24 hours per day and 7 days per week to immediately respond to any issues arising from a short-term rental property.  The Town is setting up a call center for receiving complaints regarding short-term rental properties.  When a complaint comes in, it shall be directed immediately to the Responsible Agent.  The ordinance states that the Responsible Agent shall resolve the complaint issue within 60 minutes, or within 30 minutes if the problem occurs between 11:00 p.m. to 7:00 a.m.  The ordinance also provides that the responsibilities of the Responsible Agent may include visiting the site, if necessary.  As a result, the ordinance requires that the Responsible Agent “respond to and attempt to address in good faith the issue that was the subject of the complaint….”  If, despite good faith efforts, the problem that was the subject of the complaint cannot be eliminated, the Responsible Agent must  immediately contact Police Dispatch, and follow any direction(s) given to the agent by the dispatcher.  If an initial complaint is not resolved, a formal complaint may be filed with the Silverthorne Finance Director.  Possible penalties for a violation include fines and suspension or revocation of a short-term rental license.

Occupancy

Unlike Breckenridge, (and possibly Dillon and Frisco when their regulations are eventually enacted), the Town of Silverthorne decided to impose an occupancy restriction on short-term rentals.  Occupancy of a Silverthorne short term rental shall not be more than two persons per bedroom plus two total additional persons. Because the number of bedrooms will be defined according to data from the Summit County Assessor’s Office, it does not appear that Silverthorne will allow for a loft to be separately counted for purposes of additional occupancy.

Effective Date

While Breckenridge provided for a future start date for compliance with its ordinance, the Silverthorne ordinance technically has a start date of October 24, 2018 – the date when the Town Council enacted it.  However, Town Council members spoke of short-term rental applications coming in throughout the fall before enforcement actually begins.  Summit Local Agent currently believes the call center will not be up and running until January 1, 2019, and we are currently planning for that start date.  However, we will also follow up with Town staff to determine their intentions in this regard, and we will adjust our Responsible Agent services accordingly.
With the new Silverthorne short term rental ordinance already enacted, Summit Local Agent aims to help you comply in the most cost-effective way possible, by serving as your Silverthorne Responsible Agent. 

Dillon Prepares to Potentially Regulate Short Term Rentals & Require a Responsible Agent

Dillon Prepares to Potentially Regulate Short Term Rentals & Require a Responsible Agent

As with other local towns and the Summit County government itself, the Town of Dillon is currently working on  developing an ordinance to regulate short-term rentals.   The process for the Town of Dillon included setting up a Community Input Session to facilitate a short-term rental discussion within the community.  The Dillon Town Council is also discussing potential regulations at its Work Sessions.  It is now anticipated that a set of Dillon short-term rental regulations will be presented for first reading to the Dillon Town Council in early November 2018.  The second reading will likely take place later in November 2018.  If passed by the Dillon Town Council, short-term rental regulations could take effect on January 1, 2019.  The Town of Dillon is presently contemplating a grace period for short-term rental owners to come into compliance with new short-term rental requisites.

Community Input Session on Potential Dillon Short-Term Rental Regulations

On October 4, 2018, the Town of Dillon sponsored a Community Input Session at its Town Hall regarding implementation of potential regulations for short-term rentals.  Topics included the following:
  • License Application/Fees
  • Basic Life Safety Standards
  • Local Agent Requirements
  • Tax Compliance
  • Parking, Trash & Recycling
  • Occupancy
Staff from the Town of Dillon opened the Session with a brief presentation regarding concepts for potential regulations as well as primary and secondary goals.  Town of Dillon staff also put together concept boards pertaining to short-term rental topics and opened up smaller group conversations with community members in front of each of the concept boards.  Staff from the Town of Dillon presented information regarding short-term rental topics and answered questions as well.  Staff also welcomed the submission of comments on index cards from the nearly 50 people in attendance.
Town staff is recommending that every Dillon short-term rental should be individually licensed, with registration fees anticipated at $40 to $50 per year.  Staff is also recommending that the Dillon short-term rental ordinance should become effective on January 1, 2019, but possibly with a grace period for short-term rental licensing until April 1, 2019.  Renewals would thereafter be required by April 1 of each year.  Staff pointed out that any regulations eventually promulgated in Dillon would only apply within its own Town limits.  Accordingly, while these areas might later be regulated by Summit County government, the Town of Dillon short-term regulations would not apply to Dillon Valley, Summit Cove or Keystone.

Discussion of Dillon Short-Term Rental Ordinance at Work Session

After the Community Input Session, staff for the Town of Dillon prepared a Staff Memo regarding potential short-term rental regulations.  At a Work Session on October 16, 2018, Town staff briefly discussed the Community Input Session with members of the Dillon Town Council.  Although members of the public could attend, comment is not permitted during Work Sessions.  Staff and Town Council members stated that they had received positive feedback from the public regarding the implementation of short-term rental rules.  Staff noted they had not yet fully completing a draft version of the short-term rentals ordinance, but the Work Session ended with general agreement that adoption of a short-term rental ordinance in Dillon should move forward.   An  email from the Town Manager Regarding Dillon Short Term Rental Ordinance sets forth a tentative schedule for adoption and implementation:
  • November 6, 2018 – Presentation of proposed Dillon short-term rental ordinance with Public Hearing and First Reading
  • November 29, 2018 – Public Hearing and Second Reading of proposed Dillon short-term rental ordinance
  • January 1, 2019 – Dillon short-term rental ordinance becomes effective. January 1, 2019 to March 31, 2019.  Dillon short-term rental registration and licensing occurs with grace period to come into compliance
  • April 1, 2019 – Dillon short-term rental licenses are due. This shall also be the future annual renewal date for Dillon short-term rental licenses

Potential Requirement of Dillon Responsible Agent

Although the proposed Dillon short-term rental regulations have not yet taken their final form, Town staff have suggested that the upcoming ordinance will likely include a requirement for short rental owners in Dillon to have a Responsible Agent.  Town staff have indicated that Dillon is likely to participate in the Summit County call center, where hotline complaints can be submitted regarding short-term rental properties.  The Dillon Responsible Agent has initially been described as someone that Dillon “guests and neighbors can call in case of questions, complaints and emergencies.”  The contact number for the Responsible Agent would also be posted in the unit and possibly provided to neighbors.  Town staff indicated that a Dillon Responsible Agent will need to be available to respond to hotline complaints 24 hours a day and 7 days a week.  Town staff indicated they might not recommend a mileage requirement for a Responsible Agent in terms of their proximity to Dillon.  However, to respond to a hotline complaint regarding a short-term rental property, the Town may require a Dillon Responsible Agent to make an on-site visit, if attendant circumstances dictate.

If a requirement is eventually passed, Summit Local Agent aims to help you comply in the most cost-effective way possible, by serving as your Dillon Responsible Agent. 

Frisco Continues Development of Short-Term Rental Regulation

Frisco Continues Development of Short-Term Rental Regulations

Recognizing the growth of online short-term rental platforms like AirBnb, the Town of Frisco is currently in the process of developing an ordinance regarding short-term rentals. Chad Most, Revenue Specialist for the Town, has elaborated as follows: “[t]he Town of Frisco is working diligently toward a measured approach that addresses community concerns without saddling the vast majority of responsible [short-term rental] owners with needless regulation. This will be an ongoing process of implementing common sense rules and collecting additional information so that future decisions can be based on a solid foundation of fact, rather than anecdotal evidence.” To obtain feedback on how to regulate short-term rentals, the town of Frisco invited the public to a Community Conversation at the Frisco Adventure Park Day Lodge.

Community Conversation on Proposed Frisco Short-Term Rental Regulations

The Town of Frisco started the Community Conversation with a Short-Term Rental Presentation that it had prepared. From 2015 to 2018, the percentage of Frisco lodging tax generated by short-term rentals has been steadily increasing. In 2015, 32% of lodging tax in Frisco was generated by short-term rentals. And, from the start of 2018 through the end of August, that percentage had already increased to 43%. While it’s clear that short-term rentals are increasing in Frisco, there are many pieces of data about such rentals that the Town does not know for certain. For instance, the Town is unsure how many Frisco short-term rentals are currently out of compliance with the Town’s already-existing rules. And, out of the total complaints that the Town receives every year regarding Frisco neighborhood concerns, the Town doesn’t know how many are specifically related to Frisco short-term renters. During the presentation, the Town enumerated the goals of its Frisco short-term rental regulations as follows:
  • Ensure compliance and a level playing field for all Frisco short-term rental owners
    – Develop efficient application and licensing process
  • Reduce Frisco residential neighborhood nuisance complaints
    – Track all complaints, not just those related to short-term rentals
  • Ensure all Frisco short-term rental owners are sharing information necessary to provide for their guests’ safety and to minimize impacts on neighborhoods
  • Use new data and improved communication with Frisco short-term rental owners to adjust regulations as needed and to begin conversations about how to incentivize the provision of attainable, long-term employee housing
In an effort to obtain feedback to potentially include as part of its final draft, the Town noted its proposed Frisco short-term rental regulations were a work in progress, and the Town did not release a draft of that document. However, in order to achieve the above goals, the Town proposed that the following items might be included within its regulations as a means of reducing the negative impacts of short-term rentals in Frisco:
  • Occupancy limits for Frisco short-term rentals
  • Institute neighborhood nuisance complaint and resolution hotline in Frisco
  • Quantify complaints to identify highest priority issues and uses that generate the most complaints
  • Require Frisco owners and agents to respond to complaints in a timely manner. The options under consideration are:
    – “Local Agent” – On-Site response within a certain amount of time or to be located within a certain distance of the unit, the Town or the County
    – “Responsible Agent” – Require timely response, but not necessarily on-site (at least initially)
During the remainder of the Community Conversation, the Town noted its proposed regulations would not amount to a cap on the number of potential Frisco short-term rentals, which could be licensed (as some Colorado towns outside Summit County have enacted). Nonetheless, once the Town enacts Frisco short-term rentals regulations, the Town believes it will create a call center, where complaints regarding Frisco short-term rentals can be submitted. The Town is anticipating combining with other towns and with Summit County itself to obtain services from a third party for a software solution as well as a call center. The Town appears to currently be examining a third-party provider located in Utah.

Frisco Responsible Agent

Once the proposed regulations are completed, there are likely to be new requirements for Frisco short-term rental owners. For instance, the Town will possibly require signage within Frisco short-term rental units that include emergency contact and other pertinent information. At present, the Town is also leaning toward mandating that Frisco short-term rental owners designate a Responsible Agent for their properties. As a result, if a requisite for a Frisco Responsible Agent is passed, the currently proposed regulations would be similar to the Breckenridge Responsible Agent.  Along those lines, the Town of Frisco stated at the Community Conversation that it is considering striking the same compromise that Breckenridge recently reached.  More specifically, the Town may require a Frisco Responsible Agent to respond within 60 minutes of having received a hotline complaint at any time of day or night.  To eliminate the problem that was the subject of the hotline complaint, the Frisco Responsible Agent could initially respond by contacting the renter by telephone, other electronic form of communication, or in person.  And, if the Frisco proposed regulations end up being similar to those already passed in Breckenridge, it is possible that a proper response to a complaint may also require the Frisco Responsible Agent to visit the short-term rental, if such action is necessary to attempt in good faith to eliminate the problem that was the subject of the complaint. With the preceding said, the Town of Frisco stressed during the Community Conversation that it is still seeking feedback on Frisco short-term rentals. Accordingly, the final regulations could change as they are further discussed down the road.

Next Steps

Once the final draft of the Frisco short-term rental ordinance is completed, it’s expected to be presented for first reading at the regularly scheduled Frisco Town Council meeting on October 9, 2018. A second reading of the Frisco short-term rental ordinance is expected later in November 2018.

If a requirement is eventually passed, Summit Local Agent aims to help you comply in the most cost-effective way possible, by serving as your Responsible Agent. 

Sunday, September 30, 2018

5 Vacation Rental Pricing Mistakes You Might Be Making
Colorado Luxe Living 2018


Vacation rental pricing is a difficult skill to master.
 
Price too low and you risk losing money. Price too high and you risk losing bookings.
We’ve worked with many owners who hold tightly to the idea that the higher their rates, the more money they’ll make – even when their calendars are empty and they haven’t received a booking in weeks. We’ve worked with others who are reluctant to raise their rates when demand peaks – even if it means collecting less money than their neighbors.
Intuitively, we understand these impulses. We’re not just talking about any asset. Even if you purchased the property as an investment, it’s your home. It’s something personal, and when it’s something so close to the heart, it’s hard not to see the intangible value.
The last week in August might be worth more to you because that’s when your family usually gathers for a reunion. If the weekly price you set for July is what you’ve always charged, why change it now? It’s always covered your costs and the bills are always paid.
Changing the way you price your vacation home can feel risky – but it doesn’t have to BE risky. We’ve gathered research on over 7,500 vacation rentals and gotten to the bottom of what makes a pricing strategy work and what leaves money on the table.
From that research, we’ve put together the five major mistakes we see owners making when choosing their nightly rates and explained how each will hurt your ability to hit your annual income goals.

MISTAKE #1: THINKING SHORT-TERM
 
The most common reason for pricing high is thinking about the short-term wins rather than the long-term losses.
It’s easy to see how this happens. If we ask an owner if they would rather make $250 a night or $300 a night, there’s an obvious answer: Why would you make less when you could make more?
The problem is that there’s a difference between asking for more and getting more.
Properties that are priced higher than the competition make fewer bookings overall. Now, that doesn’t mean you’ll have a totally empty calendar. Your property may become the best option available after more competitively priced properties book up. Your home may have a particular feature that’s so important to one group of travelers that it will convince them to pay a premium.
You will make bookings. And in the short term, you could make more per booking than your competitors, which is great.
In the long term, however, you’ll make fewer bookings overall. Which isn’t as great.
It also means your competitors are likely to finish the year with a much higher rental income than you will – even though they made less on each individual booking – because they priced at a more competitive rate.
Ultimately, the choice is yours about how you want to set nightly rates. But it’s important to consider that that charging more per night doesn’t necessarily earn you more income.
More often than not, it’s the opposite. Look at the long-term goal rather than the short-term one, and you’ll earn substantially more overall.

MISTAKE #2: COMPETING WITH THE WRONG PROPERTIES
 
Another mistake owners often make is setting their prices based on the competition – without having a clear understanding of whether that competition is really on a level playing field.
When you’re doing market research to determine appropriate nightly rates for your neighborhood, it’s essential that you make sure you’re looking at homes that are actually equivalent to yours.
A neighbor with a similar sized property, or even a unit that’s identical to yours might have very different amenities inside. They might have granite countertops while your house has formica. They may have a pool table and steam shower, while you have a cozy living room and the standard features the property came with.
Because of discrepancies like these, the other property might charge $50 more than you per night. And if you raise your nightly rate to ‘compete’ with them, you might just end up losing bookings because your properties are actually very different.
That’s not to say that one property is “better” or “worse” than the other by any means. While some travelers are willing to pay a premium to stay in properties that have been outfitted with updated appliances and nicer amenities, others are not.
Many travelers would prefer to stay in a comfortable home that doesn’t have all the bells and whistles.
By positioning yourself as the more affordable option in the neighborhood, you can capture bookings that the place down the street has priced themselves out of. But if you raise your rates only because you see someone down the street has upped theirs, you’ll be alienating a large group of guests who need a place just like yours for their vacation.
That’s why you need to dig deeper when doing market research to determine prices. Looking at your neighbors’ listings is a good starting point, but it doesn’t tell the full story.

MISTAKE #3: YOU’RE PRICING BASED ON PERSONAL VALUE
 
You value your vacation home a lot. And why wouldn’t you? You fell in love with it, you bought it, you furnished it, you enjoy staying there as often as you can.
So when you decided on a nightly rate, you might have thought about what you’d need to earn per night to make it worth your while to share this special space with others. If you decide you couldn’t possibly do it for less than $500 a night, then you know that’s the lowest you’re willing to go.
But if you’re wondering why you’re not getting bookings at that price, it’s probably because the rate you settled on isn’t fair market value. That is, you might have priced yourself out of the running for travelers who are looking for a place to stay.
If that’s the case, you have a decision to make:
1. You can lower your pricing enough to compete for bookings
2. You can decide it’s really not worth it for you to price lower, and accept the fact that you’ll get fewer bookings over the course of the year
You may be comfortable making only three bookings a year at a very high rate if those bookings cover the cost of the property taxes and maintenance.
But if you’d rather make a real profit on your property, you may have to start looking at it with the critical eye of a budget-conscious traveler and adjust your rates accordingly.

MISTAKE #4: NOT FOLLOWING MARKET VALUE

 
We’ve known owners who tell us that they want to charge an extra $100 a night because their property has a particular amenity, such as a hot tub or a 3-car garage.
“I’d pay $100 a night for that!” they tell us.
That may well be true. But if the majority of travelers wouldn’t pay a premium for that particular amenity, it is going to cost you in bookings.
You can do a fairly accurate assessment of the amount of money travelers are willing to pay for a particular amenity by using the filters on a listing site. Narrow down the search to properties similar to yours, with all the amenities you have, including the one you’re thinking about charging extra for.
Look at the pricing for the top 10 results, and figure out an average. Now un-select that special amenity, and look at only the first ten properties that DON’T have it. (If you un-select “pool”, for example, you might still see some results with pools, so look for the ones without that amenity.)
Get a new average of properties similar to yours that don’t have that special amenity, and compare to the average nightly rate for properties that do have that amenity.
The difference between those two averages will be a fairly accurate gauge of how much travelers value that particular amenity. You may be willing to pay more – but your average traveler is not.
If you want to make bookings, you need to price according to what travelers are willing to pay – not what you are.

MISTAKE #5 NOT USING DYNAMIC PRICING
 
Dynamic pricing is charging more during times when guests are willing to pay more.
If you have two different prices for high and low season, you’re already using dynamic pricing to a certain degree.
You charge more during the high season because travelers are willing to pay more during that period of time, and you charge less throughout the shoulder season because your area gets fewer visitors at that time, and people who do visit are looking for a good deal.
But it gets much more sophisticated than that. Dynamic pricing takes into account daily and even hourly fluctuations in demand, as well as historical trends. With dynamic pricing, your rates adjust up or down depending on how quickly other properties in your area are booking up, or whether there’s a surplus of properties sitting empty.
So if your pricing strategy begins and ends with the difference between high and low season, chances are you’re leaving money on the table.
At Colorado Luxe Living, we set different rates not only based on high and low seasons for a given area, but also holidays, local events, and the most popular weeks based on historical data. In out popular ski destination,for example, we have different rates for different periods, all of them optimized to compete specifically for that place and time.
In our experience, owners who put a little more strategic thought and effort into pricing than the competition are consistently the best option for travelers – and their calendars fill up accordingly.

A FINAL NOTE ON PRICING STRATEGY

 
We won’t lie – pricing strategies are complicated. There’s a lot to consider. There are a lot of ways you can go wrong. There’s a lot riding on your ability to get it right and be competitive.
Competitive pricing is a balancing act.
You price as high as you possibly can while still being low enough that the traveler chooses you over the competition.
Hitting that sweet spot is not easy, but it’s incredibly profitable.
For owners and property managers who are willing to put in the effort, it’s well worth it.
Colorado Luxe Living wants to make vacation rental easy and profitable for our owners.

The Luxe Team

Saturday, August 25, 2018

NOW HIRING LEASING AGENTS

LEASING AGENT
Summit and Denver Counties
Commission Based + $13-$15 hour

JOB SUMMARY
We are looking for a highly-motivated Leasing Agents to join our ever-expanding Summit and Denver teams. We are working on being among the Top-Leaders in property management, focusing on single-family homes, condos and town homes. It’s a great time to be in the leasing business, as more and more people are seeing the value in acquiring cash flow and wealth through rental properties!

Colorado Luxe Living will help you generate leads and provide business through our award-winning marketing and advertising efforts. Leasing Agents are encouraged to and compensated for generating their own business for the company as well. No leasing experience required, we are willing to train the right candidate. Please review our requirements and submit your resume to start your career in the exciting and growing industry of Residential Property Management and Leasing.

DUTIES OF A LEASING AGENT
The Company, as of now, consists of a small group of Leasing Agents and a Managing Broker. The scope of work includes assisting agents with showings, conducting property move-in and move-out inspections, contacting the HOA to obtain pool keys or other pertinent information, managing high volume of calls and emails from prospective tenants and owners, arranging owner and realtor access to homes, filing, and providing general assistance to the Managing Broker and or helping the Leasing Agents as we are team focused and driven.
  • If licensed as a Realtor in Colorado you will have to hang your license with Colorado Luxe Living. Which will give you the additional incentives the ever growing-company has to offer.   

PRINCIPLE DUTIES AND RESPONSIBILITIES

Customer Service

Ensure prompt and effective communication with Landlords, Tenants, Prospective Tenants, and Co-Workers.
Maintain appropriate documentation of communication with Customers.
Leasing
Assist agents with showings, adding or removing lock boxes, handling move-out inspections and quarterly inspections.
Contact HOA for pool keys, dish approval, researching parking spaces or mail box numbers.
Advise new tenants of move-in instructions and coordinate move-in.
Advise tenants and owners of move-out protocol.
Perform other special assignments as determined by Managing Brokers.
Key Attributes

Effective verbal and written communication skills.
Proactive communication who responds with urgency.
Exemplifies problem solving skills and innovative thinking.
Flexibility and exceptional multi-tasking abilities.
Supports the needs of co-workers and other departments.
Minimum Requirements

Ability to effectively communicate.
Ability to multi-task.
Ability to calculate figures and amounts such as discounts, prorates, and percentages.
Must have a valid driver's license and clean driving record.
Certificates, Licenses, Registrations
Must be licensed as a Colorado Real Estate Agent if assisting with any negotiations.  If not currently licensed, must be willing to obtain license.
Comply with Federal Fair Housing Laws, Statutes and Regulations, as well as local laws and ordinances.
Physical and Mental Demands
 Ability to sit for extended periods of time.
Basic math capabilities.
Ability to learn internet-based software/apps.
Experience with Microsoft Office Suite- Work, Outlook, and Excel.
Working Conditions

Moderate noise within company office and offsite job sites (examples:business office with computers, printers, and light traffic).
DISCLAIMER
This job description is not meant to be an all-inclusive statement of every duty and
responsibility that will ever be required of an employee in this job.  You get paid every time you get a lease signed and collect money from the tenant.

The following commission base fee is for you finding the rental and tenants for
the rental.  Our structured pay out fee is as follows: 

Colorado Luxe Living will be Paid $99.00

Flat Fee of $625 for rental rates under $2,000/month. Leasing Agent $526
Flat Fee of $850 for rental rates at or above $2,001/month.  Leasing Agent $751
Flat Fee of $1,200 for rental rates at or above $3,000/month.  Leasing Agent $1,101
Flat Fee of $1,500 for rental rates at or above $4,000/month.  Leasing Agent $1,401

Hours: As an independent contractor, you control your time off and hours. However, the successful agent is available Monday to Sunday.

BENEFITS
Sorry, No Health Benefits. As an Independent contractor, you are responsible for your own health care, vision, and dental insurances.

HOW TO APPLY
Email resume, along with at least two references to: info@coloradoluxeliving.com.

*We are an equal opportunity employer and does not unlawfully discriminate against employees or applicants for employment on the basis of an individual's race, creed, gender, sex, color, religion, national origin, age, disability, marital status, veteran status or any other status protected by applicable law. This policy applies to all terms, conditions and privileges of employment, including recruitment, hiring, placement, compensation, promotion, discipline and termination. This company is committed to complying with all applicable provisions of the Americans with Disabilities Act (ADA). It is our policy not to discriminate against any qualified employee or applicant with regard to any terms or conditions of employment because of such individual's.

Email Us For More Information
Visit Our Website

Wendy White, REALTOR

Wendy@ColoradoLuxeLiving.com