Rental results for WaterColor Resort Management

[WLD]

If you own a WaterColor property and rent through the WaterColor Resort, how have your rentals been since the new management company took over in the fall of 2007? Up? Down? Similar to what it was before the new company took over?

After several years of strong occupancy, our rentals are way down for the past 12 months. Just wondering if others are experiencing the same thing.

Thank you!

 

[AAbsolute]

I live in Watercolor and it really looked like rentals were off. That is the most uninformed and casual of guesses. It just looked off to me.

 

[Miss Kitty]

Mine were good! Just received a check!

 

[Kurt]

From one owner - "I had a good year....all weeks were booked at a higher rate than last year".

From a a trusted source - "The economy hit the hospitality (nationwide) industry very hard this year. WaterColor is just about even with last year, some properties are up over last year, some are even, and some are down. From what we have heard from Seaside, Rosemary, and others, they are mostly down from last year, so we feel pretty good about where we are right now."

 

[Matt J]

I know the initial reaction is to immediately blame the rental company. However there are some key things you as an owner should always look at.

Guest Book - These should be mandatory in every single unit. If people are filling it out and happy then they'll come back. Sometimes people will mention little things in the guest book that might not come up at check out or get passed on. You'd be amazed what a $10 griddle can do when the guest comes back.

The House - Don't look at this through owners eyes, look at it through guests eyes. If you can't do it have a friend who has never stayed in the house do it. Be ready for some things you never would have looked at yourself. I've personally had to explain to an owner the importance of a cork screw and wine glasses. That owner just didn't drink.

Amenities - I'm not talking beach chairs. I'm talking about fairly basic electronics. Every bedroom should have a TV and if possible a DVD player. VCR's are pretty much like making sure you have a Fondue Pot (dated). Keeping kids entertained when there is inclement weather is never easy if they want to be at the beach. Internet access, if you don't have it get it.

In addition to these you should also talk to the front desk staff, not the rental manager, but the folks who talk to your guests to get feedback. Rental Managers generally only deal with the unhappy guests. Some rental managers won't mention to an owner that they need certain things due to decreased rentals, lack of communication on the owners part, or any number of other factors. Schedule a time to meet with the rental manager and listen to what they are telling you.

Above all the economy is slowing and this coming year is going to be just plain ugly as far as rentals go.

 

[Matt J]

Oh also keep in mind that people never tell the truth about their finances. The owner next door or across the street might smile and say it was a great year while actually have a down year. Your rental company should always be happy to give you comparison numbers with a comparable property. If they'll let you go thru and note any differences if that property is higher.