We think it’s pretty safe to say that any HOA would like to generate more income to make improvements to their resorts, add to their reserves, or renovate their property. A strong vacation rental program can help meet these revenue goals by selling unused inventory to vacationers. In addition to generating income, (and if done correctly, a lot of income) a rental program can offer great benefits to your owners.
A viable rental program is important to an Association for three main reasons
- Provides dues paying owners an additional choice in how they use their time
- Supplements the marketing efforts of a sales team by bringing new visitors to the property
- Creates an avenue for the Association to recoup funds lost to delinquency
SPM Resorts, Inc. has created a rental program, centralized in our corporate office, that focuses on promoting and managing unused inventory to maximize profits. Our resort staff is trained to answer questions and handle inquiries, but the program is designed to give resort staff the time to manage the needs of owners and guests instead of trying to manage inventory.
Who handles the vacation rental program
There are four main departments involved in making the vacation rental program a success:
- Brokers-in-charge oversee the operation of the program as a whole.
- Revenue Manager handles the day to day inventory management and negotiates with online travel agencies.
- The marketing team focuses on resort marketing, online reputation management, email campaign, and social media.
- Rental Accounting Representatives manage the rental funds, making sure they are properly dispersed to the resorts and auditing daily cash reports.
SPM Resorts, Inc.’s vacation rental program includes
- Inventory management: our sophisticated database system manages the unused inventory efficiently, making it possible for us to update booking engines quickly.
- Marketing: All resorts in our vacation rental program are promoted via social media, websites, and email campaigns.
- Online Reputation Management: our team of managers, Regional Vice Presidents, and Director of Communications work together to monitor and manage online reviews.