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Deer Ridge Cabin and Chalet Rentals Property Management Program |
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We appreciate this opportunity to present our Property Management Program to you. The purpose of this Property Management Guide is to give you a highlight of the RML Management Program, outline our management policies and procedures, and provide you with a basic overview of our marketing strategy. All of us at Ridge Management Ltd. realize that your property is a valuable investment and we are committed to providing you the most professional management services available. We also recognize there are a wide variety of choices in rental management companies and that each company's procedures and operations are diverse. We encourage you to review our Property Management Guide carefully. TABLE OF CONTENTS
All of us at Ridge Management Ltd. realize that your property is a valuable investment and we are committed to providing you the most professional management services available. We also recognize there are a wide variety of choices in rental management companies and that each company's procedures and operations are diverse. We encourage you to review our Property Management program carefully. Ridge Management Ltd. first started in 1987. The Management Company was created by the Gatlinburg Golf and Racquet Club HOA for the sole purpose of rental out and managing the resort property for the Home Owners Association. Ridge Resort Realty has been listing and selling Smoky Mountain's properties since 1993. We have a proven track record. We can help you get the most value from your real estate investment. Our Property Management Program
ˇ Progressive Advertising and Marketing Programs ˇ A Computerized Property Management System ˇ Specialized Owner Services ˇ A Competitive Management Fee ˇ A Unique Property Rating Program ˇ Prompt Accounting and Disbursement of Rent Proceeds ˇ Housekeeping and Laundry services In keeping with our commitment setting the standard for quality service, Ridge Management Ltd. and Ridge Resort Realty are actively involved with numerous professional organizations, including: ˇ National Association of Realtors
MARKETING Marketing is critical to the success of any business, particularly vacation rentals. At Ridge Management Ltd. we are committed to further investing in technology and refining our marketing programs to keep them operating at peak efficiency. Print Advertising We maintain an aggressive print media campaign throughout the year. Print advertising is divided into two categories, newspaper and magazine. We regularly advertise in several magazines such as Travel Guide, AAA Tour Book. Printed Collateral The centerpiece of our marketing program is our Vacation Package Program. All of our advertising is targeted to prompt the potential customers to call the toll free number and order the free vacation packages brochure, or visit our website and book their reservation on line. We print and mail brochures and post cards three of four times per year to both repeat customers and families that we know have an interest in vacationing in the area. Direct Mail Direct mail is another very important part of the Ridge Management Ltd. marketing program. This mail consists of rack cards, brochures, postcards and our Past Guest News Letter. This supplements our print media campaign to build occupancy in the shoulder seasons. The Internet At Ridge Management Ltd. our Internet advertising sets our company apart from all other property management companies in the Great Smoky Mountains. Today we maintain 17 web addresses; www.deerridge.com, www.gatlinburgfamilyreunions.com, www.lodging-gatlinburg.com, We currently average nearly 10,000 unique visitors per week to our Internet sites. Marketing Efficiency The key to effectively marketing our rental inventory in today's competitive environment is research and development. Over the years we have made tremendous investments in our marketing program to facilitate this process. We closely monitor all of our marketing to ensure that we are spending our marketing dollars in the proper media selections. We collect some of our marketing data from all customers that call into our call center as well as the customers that make use of our Internet site. This gives us further insight into what marketing efforts are the most effective so we can make adjustments as necessary. Future Growth Our greatest source of revenue comes from repeat business. Over the years Ridge Management Ltd. has acquired a large customer base, and we communicate with these customers throughout the year to encourage repeat rentals. At Ridge Management Ltd., our mission is to set the standard for quality of service and we believe it is this focus on the quality of the units on our rental management program, which keeps our customers returning year after year. The off-season months continue to offer the greatest potential for growth. Ridge Management Ltd. pays particular attention to developing this market. The winter months of January, February and March are particularly challenging. Our research indicates that one of the keys to developing the fall and spring seasons is the availability of golf packaging. We have established a relationship with local golf courses which allows us to be extremely competitive for packaging in this market. Families and individuals that are traveling today are looking for added value packages. Since each property is different, you the owner, and a representative of Ridge Management Ltd. will give careful consideration to the rental rate that should be charged. Considerations in determining a rate
Ridge Management Ltd. has detailed histories on all types of rental properties. We can provide you with a projection of gross rental income on your particular property. Rental rates are adjusted on an annual basis, based on past rental demand and performance. During the summer season and major holidays, we will cabins maintain a 3 night minimum rental. Off season we will maintain a 2 night minimum. We will offer a discounted weekly rate for stays 7 days and more. Monthly rental rates are also available during the off-season periods for both condominiums and cabins. We ask that your property be available for rental during ten weeks of the summer season, weekend during October and all Major Holidays. However, if the property is vacant, we welcome owner occupancy. We do require that you call in advance to reserve the property for personal use. All owner reservations will be confirmed in writing. Please be sure you receive this confirmation letter and verify the accuracy of the dates. We ask that you follow our normal check-in and check-out times. When calling to book your property for personal use, please let us know if you will be arriving after hours so we can arrange a late Each fall, you should decide which dates you wish to block out for personal use for the upcoming year and book your reservations as early as possible. Owner occupancies are not charged a management fee. All nonpaying guests of owners are considered personal usage. The only fee would be our regular maids fees. When a reservation is confirmed to a guest, you, as owner, agree that the rental lease takes precedence over personal usage. For this reason Ridge Management Ltd. confirms all owner dates in writing to guarantee owner occupancy. It is also very important that you reserve your property prior to arriving. Please note that Ridge Management Ltd. requires an exclusive rental listing, meaning that we must handle all paying rentals Computer System Our system is currently running the latest in Dell Computer systems on high-speed switched network backbones. We employ Microsoft Professional Servers Software and Global Request Reservation Systems. What does this all mean to you? Our business records and communications depend heavily on computers and computer infrastructure. Our networks are built on state of the art equipment and circuits with redundancy so we can always provide quality service to our owners and guests. Computerized Property Management Our property management software was developed and is supported by Global Internet Reservation Systems Software. This system offers many benefits for the property management company. Our reservations staff will make every attempt to equally rental all cabin units on our rental program. There many variables to consider such as length on stay, amenities required, sleeping arrangements, parking needs and so forth. Rotation is also affected by the unit grade. Units with a higher unit rating are presented to the reservation agent ahead of units with a lower unit rating. This greatly benefits the owners that keep their units in superior shape. Our software gives us the ability to accurately track, prioritize and resolve maintenance problems. Our work order system insures that maintenance problems never "slip through the cracks". The work order system provides an accurate method of billing owners in a timely manner. We employ an automated housekeeping system for scheduling and billing. This system insures prompt housekeeping and inspection for all departing and arriving guests. The system also tracks the billing for housekeeping, which drastically reduces the The same computer system that we use to manage property also keeps all of the financial data necessary for our owner accounting. This automated system provides us with the ability to produce timely and accurate owner statements, which are mailed to all owners on the rental program on the fifteenth of every month. We print and mail statements with checks by the 15th of every month for all activity for the prior month. This statement will give a complete accounting of all activity in your account for the month. The information on the statement will include both rental income as well as any expenses charged against your account. Any expenses charged to your account will have a copy of the work order that was responsible for the charge. We also offer a bill paying service for owners that are on our rental program. This service is offered at a small monthly fee. The bill paying service will pay all utility bills and homeowners' assessments for the unit that is on the rental program. At this time we will not make mortgage payments for property. Owner Internet Services We are in the process of developing a system that allows owners access to a secure Internet site that will provide information about their property. The vast majority of all reservations are made in advance by telephone. For this reason Ridge Management has contracted with an organization that provides our reservationists with excellent training and continuing education. When a call is taken by one of our reservationists and the customer has not selected a particular property, the following questions are asked to help guests select the property most appropriate for them. Choosing the Correct Vacation Property for a Guest ˇ Do you prefer a condominium or a cabin?
Deposit Policies Once a property has been selected and reserved, the reservationist explains that a deposit is required for confirmation. All properties require at least a deposit equal to the first nights stay including tax and fees for daily or weekly rentals. Advanced Payment This deposit method allows the guest to prepay rent equal to the deposit amount. Upon check-in the advanced payment is applied towards the total rent and tax. In lieu of a damage deposit the credit card that was used to make the advanced payment is electronically swiped and the guest signs an agreement that states that the credit card can be charged in the event of damage. Upon departure the unit is cleaned and inspected for damage and missing items. In the event there has been damage the repair bill will be charged to the credit card. This method is by far the most common method of securing a reservation. Security/Damage Deposit In some cases a damage deposit is the preferred method of securing a reservation. In this case the guest must mail a check in the amount of the deposit within 7 days of booking the reservation. The reservation is not confirmed to the guest until the deposit is received. When the check is received it is deposited into an escrow account and held there. Upon check-in the guest must pay the full amount of rent and tax. Upon departure the unit is cleaned and inspected. If there is damage the amount of the repairs is deducted from the deposit and the balance is mailed back to the guest. If there is no damage we will mail a refund check to the guest. All policies and procedures are explained to each guest when the reservation is made. The guest also receives our policies and procedures in writing with their confirmation letter. This confirmation includes notice of check-in times and check-out times, cancellation restrictions, and our "No Pets Policy". Check-in time is from 3:00 to 5:00 PM. All monthly reservations and all cabin reservations require a 30 to 120 day notice of cancellation. Daily and weekly condominium reservations require a 14 day notice of cancellation. When guests forfeit their deposit, you as owner will receive this amount less management fee. Rents not paid in advance are due upon arrival. At check-in, guests receive keys and directions to the property, as well as other helpful information in their check-in packet. Included in this packet is a guest survey that was designed to gather information about the quality of their accommodations and to help us provide better service. We ask our guests to return this survey when they check-out . Guests are also asked to return their keys to the office where they checked-in and to check-out by 10:00 am so that we may have time to prepare the unit for the next guest. Yield Management One of the practices employed by Ridge Management Ltd. to maximize unit income is called packing. Packing is necessary in situations where reservations of less than one week are being taken for a group of similar properties. Ridge Management Ltd. will, from time to time, move reservations among similar units in order to prevent one and two night vacancies in a unit. This practice improves the efficiency of the rental program and increases the gross rental potential of the units that are being packed. This is an important concept for maximizing the income for all units on the rental program. Ridge Management Ltd. also offers services for subcontract repairs and will arrange for subcontractors, if needed and approved by you. Cost for damages proven to be caused by a guest will be deducted from that guest's deposit. A copy of the work order for all repairs will be provided to you with your monthly statement. Maintenance on Call All guests are asked to report any problems to the office where they checked in. Ridge Management Ltd. offers 24-hour a day, 7 days a week maintenance service to handle these situations as they arise. The Ridge Management Ltd. maintenance staff and subcontractors that are utilized by Ridge Management Ltd. are highly qualified and have done quality business with Ridge Management Ltd. for many years. Preventative Maintenance Preventative maintenance is conducted on a regular basis. This service includes inspection of air-conditioning filters, smoke alarm batteries, fire extinguishers, as well as interior and exterior lights. Your property is also checked for any noticeable maintenance problems and then repaired or referred to you. Should you desire, items such as carpet or furniture cleaning and deep cleaning can be scheduled with your Rental Manager. Annually, a major inspection and inventory is conducted to ensure that your property is in an attractive condition and offers the necessary amenities. During the year, your property may be vacant at different times. Ridge Management Ltd. takes this opportunity to check for any maintenance items that may need attention. Minor Maintenance Program The minor maintenance program was put into place in an effort to help owners of rental property keep maintenance costs down. This elective program provides one annual fee to handle all minor maintenance items in their unit for the year. This prevents you from being charged for every light bulb and air conditioning filter that is installed in the unit. The program covers many items in the unit. You can get more details about the program from your Ridge Management Ltd. realizes that housekeeping is an important aspect of vacation rental management. Over the years we have built a reputation of having the highest quality housekeeping in the property management business. We take great pride in supervising the care and upkeep of your property. Linen Pool Ridge Management Ltd. maintains a linen pool for our rental inventory. All owners are required to purchase an initial supply of linens. The amount of linen required to set up a property for a rental arrival is referred to as a turn. A turn is one complete set of linens including towels, sheets, bathroom linens and kitchen linens. The initial supply of linens is equal to three complete turns. Once per year the linen pool is inventoried. Once the inventory is completed linens are purchased to bring the pool back to par and the owners are charged a pro rata share of the linens. As a rule of thumb you can expect approximately one to one and a half turns of linen lost per year in shrinkage. Linen pools for condominiums are grouped by condominium complex. Linen pools for cabins are grouped by Commercial Laundry In 1996 we opened a new commercial laundry facility. We determined that the commercial laundry facilities that were available to us were not capable of handling the volume of linen that we are producing during the summer season. As a result of the poor level of service we were noticing large amounts of laundry were not coming back from other laundry facilities. This was costing our owners more to maintain the linen pool. Since we opened the laundry we have noticed a drastic reduction in lost and damaged linen for our owners. This has resulted in a decrease in the amount owners were being charged for missing and damaged linens. We have also noticed an increase in the overall satisfaction of our housekeeping as a result of the cleaner linens. Departure Cleans Housekeeping is provided after each departure whether a guest or you, the owner, have occupied the property. This service includes a general cleaning of the unit, bed linen an initial supply of toilet tissue and bath soap. A supply of bath towels is also included. After your property is cleaned and checked, someone from Ridge Management Ltd. will personally inspect the overall condition of the unit as well as the cleanliness. We believe that the only way to manage a property effectively is to physically inspect it after each departure. Deep Cleans Once per year properties receive a deep clean. This is a very thorough cleaning. During the deep clean the property is inventoried and assigned a unit rating. Also during the deep clean carpets and upholstery are professionally cleaned. Ridge Management Ltd. not only wants your unit to make a good first impression, we also want it to make a lasting impression. We are committed to doing everything we can to improve the success rate of our rental program for you, the owner. To help us accomplish this goal, we have implemented a Unit Rating System. Unit ratings are necessary in order to provide the guest with the accommodation level that they are expecting. The unit rating is a quick and concise way of alerting the reservation agent to the condition of the property that they are discussing with the guest. The unit rating will effect a unit's position in rotation. This means that the units that are in the best shape will be rented more often than units that are not furnished to the same standard. Below is a more detailed explanation of each rating type, and you will find a Required Furnishings/Inventory List in the back of this guide. Please refer to this information when preparing your property for rental. If your time is limited, your Rental Manager will be happy to assist you or make recommendations of qualified persons that can help you. The rating types and criteria are:
ˇ Crown molding in the living room, dining room, hallway and master bedroom.
Thank your for considering Ridge Management Ltd. as your management company. We are dedicated to providing you with the highest quality service for your investment. We look forward to you joining the Ridge Management Ltd. family. |
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© 2005-2008 Deer Ridge Mountain Resort - All Rights Reserved |
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