| Although managing your own vacation rental can | | | | their online marketing tactics? |
| be rewarding and, in some ways, economical, it is | | | | What social media channels are they using? |
| very time consuming and demands a high degree | | | | Do they use YouTube to promote their company |
| of attention for it to be successful. This is where | | | | (and of course your property); have they got a |
| rental management companies can offer a great | | | | Facebook fan page; are they active on Twitter; |
| alternative, or become an additional tool in your | | | | do they use a blog to promote new listings and |
| marketing plan. Choosing the right one at the | | | | last minute rentals? Agencies must be using a |
| outset can save a lot of time and hassle. Here's a | | | | range of social media networks if they are to |
| few pointers to getting it right first time. | | | | promote effectively. |
| Agencies have two distinct types of customer: | | | | Agency rates |
| the owner, for whom they deliver a range of | | | | Agency rates vary, though not as widely as it |
| services, and the renter, for whom the agency | | | | may seem from a first glance at their rate |
| supplies information and reservation facilities. The | | | | sheets or websites. Some charge a flat |
| agency that represents your property should not | | | | commission rate that is payable only when the |
| only deal promptly with your queries and concerns | | | | cottage is rented; a few have an initial set up fee |
| but must also provide excellent service to the | | | | and advertising charge, with a variable |
| people that want to rent. If it doesn't do that, | | | | administration fee per week; and most charge |
| you won't get the customers you need to rent | | | | renters a fee for booking. Commission rates vary |
| your cottage effectively. Good agencies should | | | | from 12% to 30%, with a renter's booking charge |
| pay equal attention to both owners and renters, | | | | of between C$25 and C$65 per week. Doing your |
| and if they are acting efficiently on your behalf | | | | homework thoroughly will indicate where you will |
| you should expect a high level of service from | | | | get the best value whilst remembering that the |
| them. | | | | old adage also applies, 'You get what you pay for'. |
| Most agencies will offer an information package | | | | Good marketing is expensive and what you get |
| but it's always best to call and speak to them | | | | for an extra 1% or 2% may be maximum |
| directly. This way you get to check out how they | | | | occupancy compared to empty weeks. |
| answer the phone; if your call goes to voice mail | | | | Viewing |
| (always a turn-off for renters), and if the person | | | | When you contact agencies, they will want to |
| you speak to has a pleasant and welcoming | | | | arrange a viewing of your property. Even if you |
| attitude. The following are some questions you | | | | are inviting several agencies to view, expect them |
| should ask: | | | | all to take photographs and carefully question you |
| Are they operating legally? | | | | on the facilities and amenities available, and any |
| Before you start looking for an agency to | | | | restrictions you may want to impose. When you |
| represent your property check whether there is | | | | appoint the agency, they will have the |
| any legislation regarding vacation rentals or | | | | photographs and information so will not need to |
| agencies in your province or state. By law any | | | | revisit. Make sure the cottage looks its best for a |
| rental management agency operating in Ontario | | | | viewing, as the photographs will reflect the way it |
| must be registered with The Travel Industry | | | | looks on that day. If the weather is poor, or the |
| Council of Ontario (TICO) and must abide by its | | | | season prevents the best exterior shots from |
| strict rules of practice. TICO is an organization | | | | being taken, have a selection of your best |
| mandated by the Ontario government to | | | | cottage photographs available for the agency |
| administer the Ontario Travel Industry Act, 2002, | | | | representative to view. |
| which governs all of the approximately 3,000 | | | | Well in advance of the viewing, prepare a detailed |
| travel retailers and travel wholesalers registered in | | | | sheet listing room dimensions, bed configurations, |
| Ontario. In addition, TICO administers an | | | | additional features and kitchen appliances. Some |
| industry-financed Travel Compensation Fund. | | | | agencies will provide you with a form on which |
| There are a number of agencies operated illegally | | | | you can complete all the relevant details. |
| in Ontario that may tell you they do not have to | | | | Making the decision |
| be registered - if you are in any doubt check | | | | Good agencies will provide you with references |
| directly with TICO. | | | | from their clients, so look at their websites and |
| What are their opening hours? | | | | property lists and ask for references from |
| Renters call at all times of the day and night and | | | | cottage owners of your choosing. Select |
| are often looking for immediate information. If | | | | properties in your rental price bracket, but also |
| they don't get it, they will simply move on to the | | | | take the time to talk to people who have |
| next web site or listing. Some agencies use local | | | | cottages at other ends of the spectrum. This will |
| call centres with operators able to answer | | | | give you an idea of how the agency operates. |
| questions and guide potential renters to the | | | | Don't just rely on the testimonials on the site. |
| appropriate place on the web site. Renters never | | | | Although these are likely to be genuine, they will |
| get a voice mail message which is a huge bonus. | | | | be biased towards the positive end and you want |
| How will your property be marketed? | | | | to find out what other clients don't like as well as |
| Your property should be listed on the agencies | | | | what they do. That way, you'll get a balanced |
| web site as well as other listing sources. Good | | | | view of the agency, which will enable you to |
| agencies will market widely with a range of listing | | | | make a really informed decision. |
| sites including their information. The goal is to have | | | | With growing competition, agencies need to offer |
| as many sources linking back to their web site, as | | | | top class customer service to generate good |
| possible. | | | | feedback from renters, and consequently |
| What are their visitor statistics? | | | | generate more potential renters through word of |
| Find out how many visitors come to their web | | | | mouth recommendations. |
| site on a peak day? What can they tell you about | | | | |