RENTING RESPONSIBLY
As the vacation rental industry continues to explode as the asset class of choice for accredited investors across the world, we must pay close attention to the impact that it has on communities, neighborhoods and our very own neighbors. We call this movement “Renting Responsibly”. Each property we purchase for our subscriber partners walks a fine line between being a business, a brand and a home inside of a subdivision, resort or HOA. Renting Responsibly purely means that we take plenty of precautions and care greatly about not only the bottom line but the overall happiness of the people surrounded by our properties and guests.
After all, happy neighbors makes happier guests! Below are some of the tenets of this idea of Renting Responsibly.
Communication: It starts with communicating to the other folks in the areas we rent exactly what intentions we have with our properties, how we will protect the community from negative effects of using a home or condo as a vacation rental. Canvasing the area to let people know what is going on ultimately turns the neighbors into people who will help us build our property brand and not get upset when they see visitors coming and going on a regular basis.
Technology: It’s hard to know that each and every guest is behaving themselves or keeping noise levels to a level that is acceptable to the neighborhood or fitting in with the surroundings. For instance in our Hawaiian properties, noise travels much further due to windows being open almost always coupled with construction that is almost never insulated. We have to be extra sensitive in these situations. But in all of our properties we use Noiseaware technology so we can learn first when the guests are being loud and nip the situation in the bud. This technology is inconspicuously installed in the living areas and anywhere that guests may gather outside like the pool or hot tub. We set the noise threshold and quiet hours and let the tech do the rest. In the unlikely event that the threshold is broken our manager gets an alert and follows a process to notify and neutralize the situation. No parties, no angry neighbors, no drama.
Human Touch: Vacation Rental Fund properties are managed by hyper local experts who are hand picked by our team. We don’t let mega managers or huge vacation rental firms manage our properties. We select kind, intelligent, boutique, grassroots, managers who understand the local culture better than anyone.
We know from decades of vacation rental experience that when we have people who communicate, care and the trick of Noiseaware up our sleeve, we are covering our fund subscribers, the neighborhood and the investment.