- What determines if my property is a marketable Long Term Rental?
- Where do you advertise?
- What are some of the services you provide for long term rental owners?
- What is your fee?
- How do I collect my rental revenue?
- Do I need alternate insurance?
- What utilities am I responsible for?
- How long do I need to rent out my property?
- For tax purposes, will you provide me with all the information necessary to submit to my tax preparer?
What determines if my property is a marketable Long Term Rental?
Once contact is made with VPM and an inspection has taken place, VPM will guide you in the correct direction as to how your property should be marketed to make the most of your investment. Various factors determine whether your property will be a success as a long term rental: location, amenities and any special features.
Where do you advertise?
VPM, as an agency, advertises its services in the Carmel Magazine, Monterey Land & Sea, Internet sites (i.e. Vacationrentals.com, Craigslist) only upon request, referrals, Carmelfun.com/map, Pebble Beach Food & Wine Event Magazine, Doorbell Dining Guide and various local community events. Our available long term properties are advertised on our website, in the Monterey Herald and any Internet site requested by the owner. All available properties will have a “For Lease” sign posted at the property for additional exposure.
What are some of the services you provide for long term rental owners?
We promote a proactive approach for the well-being and durability of our properties. Our operations are run by a group of professionals who guarantee the best quality service and the assurance of your satisfaction. VPM and our vendors work together for the same vision to accomplish the task at hand with ease and grace, along with prompt attention to detail, as well as time sensitivity and discretion. We also provide the following services: no set-up fees for new tenancies, thorough screening, credit check, references and financial stability are reviewed for prospective tenants. Supervision of any vendors on behalf of the owner. Engage any trades-people necessary for the well being of the property. Be listed as emergency contact with any security services engaged by owner.
What is your fee?
For long term rental services VPM charges a fee of 10% of the gross monthly income collected.
Do I need alternate insurance?
Per our management agreement, we require a minimum of a $1,000,000.00 general liability along with the standard requirements pertaining to a landlord/rental policy (further details are outlined for your review in our management agreement).
What utilities am I responsible for?
All owners pay for gardening services of their property to ensure curb appeal. Owners will also be responsible for set-up charges such as cleaning and maintenance. When a property is vacant, all charges are directed to the owner. During a tenancy, the tenant pays for all utilities, unless otherwise noted in the lease agreement.
How long do I need to rent out my property?
VPM requires a year minimum lease. Longer tenancies are always preferred. VPM traditionally does not have a quick turnover in tenancies.
For tax purposes, will you provide me with all the information necessary to submit to my tax preparer?
VPM issues 1099 forms to all owners. Included on the December operating statement, the year-to-date totals are reflected for the year.