Professional Vacation Rental Management in British Columbia
Thank you for your interest in our rental management program for short term vacation rentals in resort communities across British Columbia.
True Key Vacations is a wholly owned subsidiary of True Key Hotels & Resorts. Because of this, True Key Vacations enjoys the same senior leadership and the resources and expertise needed to provide our owners with industry-leading returns.
Our team of professionals share in the company’s commitment to service excellence. We have solid working relationships with a network of quality service providers and access to customer databases in the feeder markets relevant to the communities we operate in.
The information below is an introduction to True Key Vacations, our vacation rental management program and the advantages of participation.
We look forward to working with you and delivering an exceptional vacation property ownership experience to you, your family and friends.
Welcome to the rewarding world of True Key Vacations!
THE TRUE KEY ADVANTAGE WORKS FOR YOU
As a short-term vacation rental manager, True Key Vacations will consistently deliver industry leading revenues that meet or exceed what has been achieved through private vacation rental online marketplace’s like Airbnb or VRBO, and will do this while delivering exceptional guest and ownership service and experiences.
Our hassle-free model ensures owners wishing to rent their property out on a short-term basis enjoy industry leading returns and the peace of mind. This is achieved by having a local team of service professionals who care for their property, communicate openly and solve any potential issues associated with being an absentee vacation home owner.
True Key Vacations operates a reservations department, local check-in service, fully-equipped maintenance department, housekeeping department and a team of guest service agents eager to assist owners and guests alike. Whether it’s a burnt-out light, an after-hours noise complaint or assistance with arranging flowers for a special occasion, the True Key Vacations team is there to help.
True Key Vacations delivers leading rental revenue and occupancies by utilizing a comprehensive set of sales and marketing strategies, tools and tactics. Our sales and marketing team also utilizes first-in-class technologies and software for yielding rental rates, website operations, e-commerce positioning, database development, owner exchange platforms and owner connectivity.
True Key Vacations is a True Key Hotels & Resorts brand and is fully supported by its’ expertise and operational infrastructure. By signing our rental management agreement and providing a small enrollment fee, your property can be enrolled in our program and live within as little 3 business days.
RENTAL PROGRAM STRUCTURE
The structure of the short term vacation rental program is as follows:
- Revenues distributed based on a 70/30 revenue split (70% to the owner / 30% to the manager, True Key Vacations).
- Revenue distributed on a unit specific basis (non-pooled).
- Travel agent commissions and credit card commissions are deducted from the gross revenue before the 70/30 split.
- The owner’s portion of revenues is held in a trust account until paid out at the end of each month. Distributions are sent with a detailed accounting statement within 30 days of the end of the month.
- The rental management arrangement is formalized through a Vacation Rental Management Agreement.
- Owners in the rental management program are entitled to participate in our owner exchange programs.
- Commonly occurring costs are allocated as follows:
THE TRUE KEY VACATIONS DELIVERABLES
Included with Rental Program Services:
- Owners enjoy peace of mind knowing that their property is being professionally and proactively managed.
Guest Reception Agents and Security to assist with:
- Check in
- Check out
- Key management
- Concierge services
- Noise complaints
- Rental guest communications
- Coordination of repairs and maintenance
- Amenity access
- Departure rental housekeeping meets or exceeds COVID-19 protocols and includes cleaning, laundry processing, inventory of dishes and other items after each departure, stocking of all paper products, bath amenities, coffee, tea, garbage bags, laundry soap, dish soap and fabric softener.
- Active rate yielding based on supply and demand in the market both locally and regionally.
- Industry leading sales and marketing.
- Promotion of property on all major on-line travel agents such as Expedia, Booking.com, VRBO and AirBNB.
- Resort website with best in class booking engine and e-commerce solutions.
- Clear accounting, communication, regular financial reporting, and on-time distribution of owner revenue.
- Owner portal for owners to see key performance indicators for their property and to make owner bookings.
- Monthly management reports highlighting key performance indicators for the rental program along with important resort updates and operational activities.
- Participation in vacation exchange programs.
- Collecting and remitting all provincial, municipal and federal taxes.
- Maintain the property management system for accounting, all guest reservations and financial tracking.
- Employee training, uniforms, insurance and licensing.
Available for an affordable fee for owners in rental program:
- Departure housekeeping for owner stays.
- Maintenance staff to provide groundskeeping, repairs and maintenance services.
- Interior refurbishment and upgrades.
- Attractive travel discounts to visit other True Key managed properties.
SALES & MARKETING
We capitalize on the competitive advantages of each property, target our efforts and carefully measure each initiative for success. Along with relationship development with destination marketing organizations, the following are the primary strategies we use to grow rental revenues:
- Website with best in class booking engine and e-commerce solutions
- Up to date property listing information and availability calendar
- Email database development and marketing
- Extensive use of Facebook, Instagram and other social media channels
- Listings with local chambers and Destination Marketing Organizations
- Advanced search engine optimization
- Google AdWords and social media ad campaigns
- Listing management on top 3rd party sites including AirBnb, VRBO, Expedia and Booking.com