Who is protecting and supporting the professional property manager? Actions speak louder than words. So the professional property manager needs to look closely at their technology partners, and determine who can best help them in meeting the very specific needs of their business. Here is some information you may or may not know. It might tell you more about who is, or is not covering your back today, and into the future.
HomeAway.com is offering something called the Professional Referral Network (PRN). It provides the individual vacation property owners significant help in managing their home. With PRN, individual owners are directed to a partner company to build their listing, secure sort order on HomeAway.com, and handle all inquiries and reservations. Owners will oversee the onsite management of the vacation rental. Owners will pay commissions to the professional property manager, which will vary from partner to partner. HomeAway.com is guaranteed a subscription from the property manager for this home, and only those property managers that are chosen by Home Away will be part of this program.
Of more concern to the professional property manager might be Turnkey Vacation Rentals (www.turnkeyvr.com) . This is a full-service online property manager for the individual vacation rental owner. This link, will offer you instructions on what is offered to the home owner. http://turnkeyvr.com/homeownerfaq Taxes are paid by the guest, and remitted by TurnKey. Credit cards transacations are offered by Vacation Rent Payment, along with other features, such as travel insurance, accidental damage insurance, Glad to Have You, maintenance, housekeeping, and everything else is covered for an 18% (14% for the first year) commission from TurnKey.……everything will be taken care of for the owner (sort of like the professional property management company, yes?). TurnKey uses Escapia (HomeAway) as the database software product, and John Banczak, former Home Away owner, provides leadership of that company. This is the all inclusive service to the individual property owner what knew was coming. Is it any surprise to you? Individual owners now have all the tools they need to shut out the profesional property manager. Of course this isn’t surprising, and if we were the CEO of these companies, we’d probably be doing the same thing. But we need to know where our industry is heading, and how is making these changes.
So who has the back of the professional property manager? We'll let you decide, tell us what you think in the comments below.
This article written by Mike Mueller