Investor
FAQs
Find answers to common investor questions about services we offer, costs, start out checklist and more.
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We offer our services for a commission-based pricing model. We calculate our fee based on the monthly amount you received from your rental.
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We provide a start-up checklist outlining every item that will be needed to all of our new clients. A furnished property with two full sets of bed linens and bath towels can expect a small starting fee to cover the initial set-up and professional photography. The recurring expenses that are the owner’s responsibilities are: toiletries, cooking essentials, some cleaning supplies, and all repair and maintenance expenses to keep the property in excellent condition.
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A 3-bedroom home can be furnished for approximately $15,000. It also helps to search pre-owned furniture and decor on sites like Kijiji, Facebook Marketplace, and any other local buy and sell channel. We can refer our interior designer to help furnishing of the property and stage the decor. We'll also give advice on what works for a vacation rental property.
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We use cleaning contractors covered by WCB. We have a strong relationship with our contractor and their employees are trained in person to our standards. We perform an inspection after the cleaning to ensure that the property is clean, safe, and guest-ready. The cleaning fees are covered by the guest when they book and we add a litte more to cover supplies. Additional expenses may include the Initial cleaning, occasional deep cleaning, and any post-renovation cleaning due to maintenance or repairs
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We are an ideal choice for the remote investor. We use a technology stack that specializes in management of a short term rentals, from optimized pricing schemes to the scheduling of day to day operations, we have it down to a science! Our goal is to manage every property as if it were our own so that the property is well maintained and there are no headaches for us or our clients.. Many of our clients prefer to be very hands-off and just sit back to receive payments without headaches of the day-to-day operations.
Our earnings track record has been exceptional with many of our properties among the top 10 earners in their corresponding city. We offer 24/7 full service for short-term rentals in St John’s and Calgary. We handle every aspect of guest relations and marketing of the property. We also coordinate regular maintenance schedules and take care of any emergencies that arise. -
You will receive a consolidated monthly payout on the 15th for the previous month's earnings with a detailed owner statement. This payout will already have all relevant expenses deducted, including our commissions, cleaning fees, and any additional property expenses. The applicable GST/HST will be included in the payout and detailed in our owner statement
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We highly recommend seeking out the help of a tax professional to understand your tax obligations. If you make more than $30,000 of gross revenue in four consecutive calendar quarters, you must charge GST/HST. This means you will need to register for a GST/HST number because short-term accommodations are considered the supply of taxable goods and services. We will add the GST/HST onto the listing so that it is automatically charged.
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We consider guest screening one of our strongest expertise!
We have a playbook that we follow each time we receive an inquiry or confirmed booking. We find out who the guests are, what they do, who they are travelling with and the nature of their visit, then pull from our years of experience to identify any potential risks and make the decision as to whether or not we will proceed with the reservation. Every guest we host must have government-issued identification and a clearly identifiable profile picture.
For guests with no prior reviews or stays, we pull from various social media websites and public government databases. As mentioned we treat all of our properties as if they were our own and we would never let a suspected risky guest stay regardless of the potential payout. -
In the entire time that we have been operating short term rentals the worst damage we have encountered was a small hole in the wall and the guest paid for the repair and then more for the inconvenience. Damages are rare, the most common damages are minor, like a broken wine glass, stained towel or a scratch on the wall. Most of these types of damages are normal wear and tear and can be remedied by a magic marker or some paint.
In the event there is damage from a guest the process of retrieving the funds needed for repair is included in our fee and we'll take care of everything. We also utilize Airbnb's Host Guarantee policy, which provides protection for up to $1,000,000 USD to a host for damages to covered property above the security deposit or if no security deposit is in place. Fines from strata or bylaw for infractions such as noise are also covered. -
Yes. In Alberta a short term rental is defined as the business of providing temporary accommodation for compensation, in a dwelling unit or portion of a dwelling unit for periods of up to 30 consecutive days. Businesses that have been issued a permit for a bed and breakfast are not classified as short term rentals.
As of February 1, 2020, the Calgary Business Licence Bylaw includes a two-tiered business licence category for short term rental hosts. All hosts must have a separate short term business licence for each property they rent out. Tier 2 licensees must obtain a fire inspection for the short term rental property before the business licence will be issued.
Tier 1: 1 to 4 rooms offered for rent = $100 per property
Tier 2: 5 or more rooms offered for rent = $172 per property plus the cost of a fire inspection of $104 per property.
Yes, To rent your property as a short-term rental in Newfoundland, you'll need to register it under the Tourist Accommodations Act. This means you'll have to apply to the Minister of Tourism and provide some details about your property, like its name, address, and the number of units and bedrooms. Registering ensures that you're following the rules and can operate your rental property as a legitimate tourist accommodation in Newfoundland.
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Short term rentals are much better maintained then a long term rental. The main reason for this is the fact that we have our team on site weekly. They will perform an inspection of the property for anything out of place and then clean the property to "hotel clean" before every guest arrives. Guests are in the city to explore or take care of the business they are there for, so they don't spent a lot of time at the property. Long term tenants who are living in the property have enough time to improperly use or mistreat the amenities, where as short term guests are in and out sometimes in less than a week. Long term leases do provide a steady stream of income but at a much lower rate compared to a fully furnished property rented out by the night.
If you do prefer to have a steady income, we have another option where we can rent the property from you like a normal tenant so that you get the steady income and the reassurance that your investment is looked after with the utmost care! -
For any other questions or concerns, please go to our Contact Us page to submit your inquiry. Someone will get back to you A.S.A.P!