When thinking about how best to manage your property, you are likely to need to select an owner service provider to assist you. An owner service provider may provide a few focused services to owners, or they may provide a wide range enabling an owner a single point of contact for most of their needs....Read more
A challenge many vacation rental owners and property managers face is how to get their listing to stand out from the crowd, since there are more than one million vacation rental listings on both the HomeAway family of websites and Airbnb. Successfully differentiating your property will lead to more inquires, bookings, and revenue....Read more
We’ve created a list of nine questions owners should ask their property manager – see what they have to say and decide if your property manager provides the best service at the lowest cost!...Read more
tnooz: Airbnb, HomeAway, TripAdvisor, Booking, and Rented talk vacation rentals
The mainstreaming of vacation rentals, regional consolidation, regulation and technology-driven operational efficiency were themes at the closing session of the annual Vacation Rental Managers Association conference.
Panelists from TripAdvisor (which owns FlipKey), Airbnb, HomeAway and Booking.com spoke on the theme of “The Next 30 Years.”...Read more
Texas needs short-term rentals to meet tourism demand. Yet harmful regulations mean many homeowners invested in their vacation rentals under one set of city rules, and are now possibly facing eventual elimination of their business under a separate set of rules.
An onerous regulation, BL2017-608, phasing out non-owner occupied short-term rental permits in residential areas in three years, unanimously passed 2nd reading by the Nashville Metro Council […]...Read more
There’s not an easy one-size-fits-all remedy, as we discovered when we talked to real estate and home rental experts. But we’ve collected some of their best arguments for and against allowing pets in your rental to help you make an informed decision....Read more
Housing affordability is largely caused by cities and municipalities not planning in advance for urban growth. Ease the complicated regulations, onerous permitting process, and hefty fees that face developers interested in increasing housing stock....Read more
75 percent of guests said they would not travel to South Lake Tahoe if private accommodations were not available. Spending by vacation rental guests generated an estimated $65-80 million each year in the South Lake Tahoe economy.
TurnKey uses proprietary hardware, software, and processes along with highly trained local staff to prevent and quickly resolve issues that arise during high profile events to prevent incidents like those chronicled by the Austin American Statesman....Read more
The Tennessean: Bills to slow down or block Airbnb rentals in Nashville to be delayed Metro Council members are delaying consideration of legislation that seeks to slow down the business of short-term renting in Nashville as they make one last attempt for a consensus that would — seemingly against odds — appease neighborhood activists, home-sharing companies and state lawmakers....Read more
The New York Times: Palm Springs Is Hot. The Old Guard Is Hot Under the Collar. PALM SPRINGS, Calif. — Hundreds of Pucci- and pastel-wearing partygoers mingled on Feb. 16 among palm trees and model Alfa Romeo convertibles at the Bank, a renovated 1955 savings and loan in the downtown of this desert city. Looming over them were clips of Sean Connery as James Bond, in films like “Diamonds Are Forever,” projected onto a wall above the main bar....Read more
The Texas Tribune: Texas proposal would keep cities from restricting short-term home rentals A legislative proposal that would limit local government control of short-term home rentals in Texas has reawakened a fight over regulations that has already played out in cities across the state....Read more
Taking steps to enhance your second home can lead to a long list of benefits. In addition to increasing the value of the place, guests will likely appreciate the touches and leave great reviews. ...Read more
The Globe and Mail: Airbnb buys Montreal-based Luxury Retreats to bolster high-end vacation offerings Airbnb Inc. has struck a deal to buy Montreal-based Luxury Retreats International Inc. in a move that will help it bolster its high-end vacation rentals while delivering a shot in the arm to Canada’s technology sector....Read more
At TurnKey, we have 5 core values that our company and employees live by that fall under the umbrella of “always do the right thing.” Our core values are everywhere in our company, and every month we recognize a number of employees who exemplify these values.
We spoke with several tax experts who specialize in vacation rentals to uncover some of the biggest saving strategies, starting with the basics and also including some lesser known write-offs that can save you money.
Zillow, the leading real estate and rental marketplace dedicated to empowering consumers with data, recently dug into the topic on their Zillow Home Price Expectations (ZHPE) Survey and concluded that STRs do not have a large impact on housing affordability by depleting the supply of long-term rental homes and increasing rent prices.
Yahoo Finance: The big reason why Airbnb terrifies the hotel industry Airbnb may face significant legal headwinds in some cities over its repurposing of apartments as short-term rooms-for-hire, standing accused of hurting local economies and contributing to rising housing unaffordability. But the tech company’s status as a dangerous player that could dominate the hospitality industry is as strong as ever, according to a new report....Read more
Listen to T.J. Clark on the Norris Group's podcast. Aaron Norris and T.J. Clark discuss the benefits of owning and staying in a vacation rental as well as the regulatory pitfalls. Tune in to hear their engaging conversation....Read more
Skift: Airbnb’s New Pitch to Cities: We Are Serious About Working Together On December 7, Airbnb debuted a new 31-page report that summarizes the company’s four-pronged approach to working with municipalities to develop commonsense regulations of short-term rentals....Read more
At TurnKey, we are capitalizing on the latest trends lined out in the Phocuswright study with our innovative business practices, and homeowners should too. Here are 5 key takeaways from the study that homeowners should know.
John Banczak, executive chairman of TurnKey Vacation Rentals, says a good rule of thumb is for every $100,000 you spend to buy a vacation home, you should aim to make $12,000 to $14,000 of rental income per year.
If you are wondering what kind of experience compliments such a position, Francesca Watson-McFeely of TurnKey Vacation Rentals explains that her “‘real estate and marketing background helps [her] create a great guest experience and successfully price, market and manage vacation rentals.’"
The rampant problems with scams on Craigslist, including vacation rental scams, have been well publicized, and Craigslist is certainly aware of these issues. Craigslist should take steps to stop vacation rental scams and keep renters and homeowners from becoming victims of the next Craigslist scammer.
Skift: Why Short-Term Rentals Will Change the Business Travel Landscape In its State of Business Travel 2016 report, Concur reported that, amongst its business travelers, home sharing is quickly gaining popularity, with 56% growth between Q1 2015 and Q1 2016.
And Airbnb reported in July that its sales to business travelers increased threefold over the past year....Read more
US News and World Report: Is Airbnb a Threat to the Hotel Industry? "Travelers with families used to skip going to cities like New York, Los Angeles, San Francisco or Chicago because of the high cost of one or more hotel room. Now, they will because they can find a vacation rental home with enough space and home amenities at affordable prices," Banczak of Turnkey Vacation Rentals says....Read more
With fraud and theft among the biggest concerns facing vacation rental owners, TurnKey's enhanced guest screening process now includes IDology positive identification technology to provide real-time, bank-level verification of guests.
Skift: Vacation Rental Owners Turn to Noise-Monitoring in Instant Booking Era With instantly confirmable vacation-rental bookings picking up momentum on sites ranging from Airbnb to HomeAway, owners and property managers are turning to noise-monitoring devices in their homes and other measures to ensure that guests aren’t throwing wild parties, conducting porn photoshoots or otherwise behaving badly....Read more
MarketPlace.org: Short-term rentals are reshaping real estate market in some cities In a few ways, the McMillin Court in Nashville, Tenn. looks like a vintage motel. It is yellow-and-gray, two stories tall, and in the shape of a horseshoe. All 16 units have their own doors to the outside.
The kicker is the neon sign in blue and yellow. It even touts “no vacancy,” although that’s kind of a joke. Since these are former apartments, there’s no front desk to inquire about a room. Guests like Luke Graham, of London, England, book online.
“It ticked all the boxes really,” said Graham, 33. “A good rate. It’s easy to book … For me, it’s like, as long as you can get in and secure, that’s all you need.”...Read more
Skift: Airbnb Vacation Rental Exec Says Instant Booking Going Mainstream The tide seems to be shifting in the vacation-rental arena as instantly confirmable bookings — as opposed to giving owners or property managers 24 hours or more to decide — is finally gaining momentum.
That’s the view of Michael Endelman, who heads Airbnb’s vacation rental efforts in North America, and others, about the burgeoning instant booking trend in vacation rentals....Read more
TurnKey Vacation Rentals was born out of a desire to address the challenges of both guests and owners. Founders, T.J. Clark and John Banczak, explain their vision for a better property management solution....Read more
Get To Know TurnKey: Revenue Management Team
TurnKey’s Revenue Management team uses technology, market knowledge, and deep statistical understanding to maximize revenue year-round. Our team finds opportunities to improve pricing and identify potential problems with pricing well in advance – with time to implement a change and make a difference before it is too late to maximize revenue.
In communities with an HOA, the line between rental and HOA management agreements is often blurred. Telling them apart can be confusing, and it’s hard to find unbiased answers to a lot of your questions.
To clearly define the difference between HOA management and property management, we're breaking down 4 commonly asked questions....Read more
Greater Media Newspapers: Profiting off other people’s sabbaticals It’s been said that the key to happiness is to live each day like you’re on vacation. Many accomplish this goal by owning a vacation home or second residence, which not only can serve as an ideal getaway spot for personal relaxation and recreation, but also as a serious income generator that can make every day feel like a holiday....Read more
Skift: Hotels vs. Airbnb: Let the Battle Begin
On Aug. 22, the U.S. Internal Revenue Service (IRS) debuted an online Sharing Economy Resource Center to help taxpayers better understand how to file taxes for income earned through ride-sharing services like Uber and Lyft, or from renting out rooms and houses on platforms like Airbnb and HomeAway....Read more