Keystone Property Management FAQ
Q: What is your management split?
A: SummitCove offers one of the lowest management splits in Keystone. We are roughly HALF of what the resort charges. Please contact us for an exact number.
Q: Are there any up-front costs to get started?
A: Getting started with SummitCove is completely free. We will do a free deep cleaning of your property, do an inventory inspection to make sure it has all things like kitchen tools, bowls, plates, etc., do a full maintenance inspection to be sure all cabinet hinges are tight and there are no potential issues, setup all sheets and towels, take professional pictures and video, and begin marketing your property. If, during our setup process we find a potential issue that needs more attention like replacing an appliance for example, we will contact you and help to get it resolved. We do require that all beds have encasement covers on them and those are billed only if your beds need them.
Q: What amount of revenue can I expect?
A: Revenues vary depending on the size of property, building, distance to ski slopes, views, and more. Contact us and we can make a rental projection for you from our 15+ years of rental data. We typically are accurate to +/- $1500 on an annual basis. Also, check out our rental heatmap of Keystone for more information.
Q: Am I allowed to clean my own property?
A: Yes, but only if you, the owner, are staying at your property. When you clean, the property must be in “arrival ready” condition with no missing supplies. After you clean, we will send in an inspector to make sure it is ready to go for the next guest.
Q: How do I make reservations for myself or family?
A: You can enter reservations through an online owner portal very quickly and easily. You can also view statements, request support from our owners services team, and request maintenance for your property.
Q: What happens if a guest damages my property?
A: SummitCove will cover the cost of fixing the broken item or repair if it is deemed to be accidental in nature. We do not cover “wear and tear” type items such as blind strings that break due to use or sofa sleeper mechanisms that break due to regular use. For example, if someone accidently knocks over a flat screen TV and it breaks, we cover the cost to replace. If someone accidentally spills wine on the carpet, we will clean it for free.
Q: How are you different than other property managers in Keystone?
A: SummitCove is a family-owned business and we treat our entire staff as family. It is important to us to have highly motivated people working in a fun environment because when people enjoy coming to work they do a better job, which means more bookings, better quality cleaning, and better service altogether for you. We are a company focused on the growth of our family, which will keep our company growing. Specifically, there are some key things that we do differently than other companies, but to learn more check out our core values
• We spend more time training our staff than any other company in Keystone – All departments are required to attend training sessions on a quarterly basis.
• We are focused on the guest experience – We strive to convert every guest into a repeat guest in the future. We have a solid 49% repeat guest rate, which is the key to ensuring that we generate revenue for you.
• We have a dedicated owner services team to serve you – need new appliances, or have a question? We are available 365 days per year – even on holidays!
• We believe in long term relationships and want you to have the best ownership experience possible. Our goal is to manage your property for as long as you own it.
Q: When do I get paid?
A: Payments are sent monthly on or before the 20th of each month for all reservations that departed the previous month.
Q: Where do you advertise?
A: We advertise across hundreds of marketing channels. Some of these channels include popular sites like VRBO, HomeAway and AirBnB. However, the strongest marketing platform we have is our own website and our communication with previous guests. We have a 49% repeat guest rate which is only achieved by direct and targeted communication with guests. We work towards obtaining direct bookings with the guest instead of working through 3rd parties or travel agents who take a commission off the top of the reservation before you or SummitCove even gets paid. By taking bookings, direct, we can generate more revenue for you and leave out the middleman.