The nightly rate will be changed constantly based on the supply and demand in the area. We have very sophisticated proprietary software (that we wrote ourselves and isn’t available on the market) to make sure that we’re generating the greatest nightly rate and max occupancy rate. We have three software engineers on staff (including the CEO), so please trust me when I say, no one else is even close to doing what we’re doing (nationwide) on maximizing revenue.
Of course, there is no way to predict future earnings, but analyzing and making adjustments constantly based on the data is our best way to maximize revenue.
Our nightly rate is all part of a data-driven pricing strategy, and over the long term, we will net you significantly more money.
We will continue to negotiate on your behalf for the best cleaner at the best rate for your home. Remember that for every dollar you spend, we’re also spending $.30, so it is in our interest to reduce the costs as well.
Our first and most critical benchmark is getting 5-star reviews from all of our guests. The cleanliness of the home is one of the most important factors in this review.
You will have an owner’s portal in the Guesty App to log into for all reservation and calendar info. This will also allow you to block off the calendar for friends/family stays. However, due to guest privacy restrictions, details such as the name of the guest, rent amount, and other details of the reservation are unable to be viewed by the homeowner via the owner’s portal.
The onboarding fee is the first part of our “Financial Handshake.” We are going to be dedicating a lot of time, money, and resources to get your property up and running. In return, you will have a well-maintained property generating passive income.
Here is the overview of the Venturebnb onboarding process. Each step has internal checklists that Venturebnb staff will accomplish efficiently to make sure your home is active and accepting reservations as quickly as possible. The involvement of the homeowner is designed to be passive to the maximum extent possible.
Venturebnb initially pays for all labor and material costs associated with the onboarding process. This minimizes the upfront cost to onboard the property. These setup costs are held as a balance on the account and paid off usually in the first month by booking revenue. There are never any markups.
We pride ourselves on being the only one in the industry that partners with the homeowner in running their vacation rental business. We believe that financially, the homeowner cares most about the net profits of their property, not just the revenue that it generates. This is a key difference at Venturebnb. Venturebnb shares in the profits, not in your revenue, so we are 100% aligned with your goals. We make every effort to not only generate more revenue but also reduce expenses. For every $1.00 you save on expenses, Venturebnb saves $.30.
Our 30% of Income Partnership Fee, more closely aligns with around 10-20% fee of the revenue. Meaning we have one of the lowest fees in the industry, however, since we are motivated to not only generate more profits but also lower your expenses, homeowners make significantly more money with Venturebnb than with vacation rental managers or by managing the property themselves. This means that our services usually pay for themselves.
We have a very sophisticated system and well-trained staff that are alerted and detect scams before they occur. We also refund 100% of any reservation that results in a loss to the homeowner. Our policies reflect our commitment to being your partner operating your vacation rental.
We have a proprietary system that allows us to manage bookings from all major booking platforms and our own direct booking website. Listings on multiple sites provide our homes the largest exposure, maximizing average nightly rate and occupancy rate.
Some consumables are standardized across all properties. Included is coffee, tea, creamer, and some basic cooking spices. Additionally, all properties are supplied with shampoo, conditioner, body wash, paper towels, and toilet paper. Other properties may include specific items depending on location/amenities (sunscreen, flowers, etc.).
Venturebnb does video recorded inspections of the home before and after every guest. This documents all items and conditions of the home. Depending on location and climate, we also have regularly scheduled interior and exterior property inspections of our homes. An extensive inspections and maintenance checklist is periodically accomplished including replacing HVAC filters, checking water heaters, gutters, power washing, tree and vegetation upkeep, etc.
Unlike many Vacation Rental Property Management Companies, we operate under a Brokerage license in states that require it. In states that don’t require a brokerage license, we comply with any permitting or licensing requirements.
Venturebnb is designed to operate in any location across the US. We have properties in the most remote parts of Wyoming, resort destinations like Lake Tahoe and Sun Valley, and cities from Denver to Louisville.
Venturebnb has a full-time staff member creating content and promoting the brand, local areas, and featured homes. You will likely see your home featured shortly after it is onboarded. We recommend that you share this link with family and friends and follow Venturebnb as it helps with Search Engine Optimization and promoting your property.
Our Operations Managers are available 24/7. They manage any emergencies but are also available to answer any guest questions about a property or the local area. We consider them part of a concierge service so all guests can experience first-class services at all of our properties.
While there are countless nuanced things that Venturebnb does that other STR PM companies don’t do, (like our proprietary revenue-generating software, our own in-house cleaners and handymen, and 24/7 concierge service to guests), the biggest thing to the homeowner is Venturebnb is based on a profit-sharing partnership.
Homeowners are most financially concerned about what is deposited into their account at the end of each month. This means that the homeowner is motivated to not only increase revenue but decrease the expenses of the property. We are 100% aligned with the homeowner in being very mindful of revenue generation and mindful spending.
Our entire business is set up to make the homeowner more profit, so we can too!
We can’t give access to our camera because it would require you to log in to our network, which would grant access to all of our cameras. However, if you’d like, you’re welcome to install your own camera. Some of our clients have done this, and we have no issues with it.
Please let your ambassador know if you ever have any suggestions. We’re happy to make any changes as you see fit. No one knows this property and its highlights better than you, so please continue to share your thoughts.
Yes, the Accounting Log is a live link that we suggest you save to your favorites. This information will be updated in real time with every reservation and expense associated with your property. This will be a great tool to use at the end of the year for taxes as it will break down all rent, operating expenses, local taxes, platform fees, management fees, etc.
Each property has rent held in a unique, property-specific bank account. There are no commingled assets between any two properties. Even if we manage multiple properties for you, each property has a completely separate account. All operating expenses are first deducted from the operating income. From the operating profits, Venturebnb will take our partnership fee and deposit the balance into the bank account of your choosing. This is usually accomplished within the first 10 days of each month.
Being 100% aligned with the homeowners means we want to mitigate any damage or missing property as much as the homeowner. We have excellent systems in place to ensure that security deposits or insurance covers any damage or loss created by a guest. This process is completed 100% by our staff, and anything that requires replacement is first paid for by Venturebnb, with the security deposit or aircover refunding Venturebnb’s expense. This makes the operations of the vacation rental seamless and stress-free for the homeowner.
Please realize there is a difference between damage and wear and tear. Items that wear out or need to be replaced due to the end of their useful life are at the owner’s expense and not a shared expense. Only items that are damaged or lost are covered by Venturebnb initially and then reimbursed by the security deposit or aircover.
Most repair requests are generated by guests during their stay or by the cleaning staff during checkout cleaning. Our staff will be alerted to any issue as soon as it’s discovered and will schedule immediate repairs.
Repairs are scheduled based on criticality and to minimize the impact on the guest during their stay. General repairs and maintenance are typically covered by our handyman. The handyman documents the repair with photos, before and after the repair.
Each repair is timestamped so we can pay based on the duration of the repair time. Homeowners are billed at the handyman’s rate with zero surcharges or markups.
The labor cost of the handyman is included in the operating expenses and deducted from the operating income before Venturebnb takes the partnership fee. Venturebnb is aligned with cost mitigation to the homeowner for all labor expenses.
In general, the ambassador will notify the homeowner of any repairs that are outside the scope of the handyman’s capability. The ambassador will provide recommendations and local contractor information, but the decision and cost of the repairs are the owner’s responsibility.
In the case of an emergency, your ambassador has the authority to order repairs on behalf of the homeowner.
We set up our vacation rentals to be efficiently managed and turned over. In almost all cases, we can accommodate same-day turnaround and same-day bookings. Our linen systems are a critical method to our efficiency.
We standardize all double (full) size beds and larger with two towels and all single beds with one towel. Each bed has three sets of sheets and towels:
Anytime one set is lost or discarded, a replacement set is automatically ordered. All linens are washed off-site and brought back at the time of the next turnover. Your sheets are specific to your property and not mixed with any other property.
All cleaners arrive within one hour of scheduled checkout. The cleaners bring all fresh linens to the house with them. A video recording of the property and documentation of all missing or damaged items is the first thing accomplished. If any supplies or consumables need to be reordered, those items are relayed to our operations management team and purchased immediately.
The house is then turned, and a second video recording is completed and reviewed for cleanliness and inventory.
Parties are extremely rare. After hosting thousands of guests over the past 10 years, we have encountered less than a handful of parties. From these very few parties, we have never found any appreciable damage to a property. We attribute this to a number of factors.
The vast majority of our guests use booking platforms such as Airbnb and VRBO. Although there is a fee for using these platforms, there are significant benefits they provide such as peer reviews, background searches, and some level of insurance for the guests/property.
We explicitly communicate house rules that state no parties, and any parties will result in forfeiture of security deposits and immediate eviction.
Any direct bookings to our website are researched before being accepted, and significant security deposits are held. All of our cameras have decibel monitoring levels that alert us to excessive noise during quiet hours (10 p.m. – 8 a.m.). We have private security companies in most markets that, if necessary, can be used to evict a tenant.
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This technology can also determine ahead of time if there is an issue with the HVAC system. This alerts us, and we can respond before guests report the problem.
Yes, the contract can be canceled at any time for any reason. However, the contract explains the terms and our roles and responsibilities. The contract automatically renews if the terms do not change, but it can still be canceled for any reason at any time.
We do ask that once the contract is canceled, you allow us to honor the existing reservations made under the contract. We do not open up the calendar for more than three months in advance, so it will not be a long wait before all future reservations are completed.
The homeowner may also notify us to stop taking additional reservations during this three-month window, so that in the event the home is to be sold, it will allow for ample showing times between reservations.
Ultimately, Venturebnb is aligned with the homeowner and wants to allow ultimate flexibility to the homeowner’s needs.
