Vacation Rentals: The Good, The Bad, And The Ugly

We just returned from a vacation in Beaver Creek, Colorado, one of our favorite getaways for the last 20 years and close to Phoenix by plane. We have lots of friends there as well. We've rented from several owners there in the past. All experienced, all fantastic. It was probably time for us to get one that provided us with a less than stellar experience. Unfortunately our latest experience took the shine off vacation, we won't rent from that owner again, and we're not recommending them -- Unit 320 at the Westin in Avon.

The 3 of us returned from vacation to an email that started out nicely enough and then ended with a statement that the cleaning service noticed there had been a dog in the unit, it appeared the dog was in the bathroom and the backside of the door was fairly scratched and they were investigating it. BTW, we didn't have our's or anyone else's dog with us. Being in the business and having only 3 of us (no dogs on vacation), we leave a pretty light footprint as well.

We've been on the owner side of the fence and here's what we know from our experience with property management and what we learned that we thought we'd share:

What We Know From Experience

• DO understand that if you make a statement about damage to a property -- it's not a question or a report -- it's an accusation and a red flag to renters that you're probably going to be pursuing them for damages.
• See damage? DO ask and investigate first -- then make statements.
• DO work with a reliable, experienced Prop. Mgt. company that has a cklist for items and damages cklist. One that is willing to take pictures at clean out for short term rentals is even better. Super important so you can charge for legitimate/significant damage or missing items.
• If you have a vacation rental, DO be prepared to spend at least $1000/year out of pocket (depending on the size) on normal wear and tear (just like a normal property).
• DO be prepared to see more owners looking to recoup $ and doing things they normally wouldn't have in a healthy economy.

What We Learned

• Being accused of something you didn't do isn't fun, regardless of the situation.
• Renting from people you don't know can be risky (we'll stick to renting from people we know or hotels).
• Ask for personal referrals when renting if you're going to rent from someone you don't know, period.
• Renting from someone you don't know? Take a video of the inside of the unit you're renting and high wear areas -- floors, doors, counter tops, and inside of cabinets. It's 15 minutes well spent!
• Again, take a video as soon as you get in the property. You have no idea whose going to be in there after you are and whether or not they're honest or objective.

Dean and Sonia Carver

United Brokers Group, Agent/Owners

#1 Team - Over 198 Homes Sold in the last 24 months

Carver Home Team Founders

Million Dollar Guild Member

Certified Luxury Home Marketing Specialist

Certified Distressed Property Expert -- 100% success rate in 2009

Bank of America Preferred REO Broker

Email: sonia@carverht.com

O: 480.710.4608

M: 480.612.1048

F: 480.760.2371

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