Coastal Sunshine Property Management
- Relationships: Coastal Sunshine Property Management believes in a win/win relationship and a great relationship starts with good and transparent communication. You will not get lost in the wind with Coastal Sunshine Property Management we are small boutique style property management company that really does personalize the property management business.
- Fees: Our management fee is very competitive, always keeping our costs as low as possible for owners. We make money when you make money. There are some caveats when it comes to Airbnb, but the net commission is the same.
- Experience and Local Market Knowledge: Coastal Sunshine Property Management brings more than fifty years of experience and local knowledge of the vacation rental market to our Owners.
- Great Realtor Referral Program: with over 65 agents in the field results in more off and shoulder season bookings.
- Preparation for renting your home: Coastal Sunshine Property Management will inspect and evaluate the property continuously. Initially we will focus on getting the property rental ready. We will be focusing on staging for professional photos, cleanliness, housewares, appliances, and any necessary repairs that will need to be made. To market your property at the top value for its size and location, we encourage the home be in good condition (i.e. paint in good condition and not chipped, discolored, or scuffed, clean and well maintained appliances, flooring in good shape, working and clean fixtures, etc.). We encourage you to remove all personal property prior to renting that you do not want utilized by guest. We are certainly there for you, to advise or answer questions as needed.
Marketing Your Vacation Rental
- Website: Check us out at Coastal unshinePropertyManagement.com. You will be impressed, we rank high and have a fully integrated website that guest can book directly online AND THUS AVOID BOOKING CHANNEL EXTRANET SERVICE/TRANSACTION FEES
- Marketing: Coastal Sunshine Property Management is always finding new, exciting, and cost effective avenues to market your investment! Currently we market extensively utilizing a combination of extranet platforms (over 45) such as Homeaway/VRBO, Airbnb, Booking.com, Expedia, and our site; Coastal Sunshine Property Management. One of our favorite quotes is by Walt Whitman, “Nothing great was ever achieved without enthusiasm” and in keeping with that we have the most enthusiastic marketing team on the beach. This is truly apparent in our local event marketing sponsorship programs like Toys for Tots, the Duck Race and host of non-profit events we sponsor annually. As our Broker likes to say, “the only people we have to get even with is those who have helped us”. Thus, our team members sit on the Board of Beach Care Services and we feel if you are going to be a local business owner that it comes with a social responsibility to the local community. In many of these events we are able to distribute marketing materials and flyers that result in the awesome brand recognition we have received in the market place.
- Airbnb: this extranet booking platform (no annual feess) has caveats that make it quite different than VRBO.Airbnb does not collect our local and bed tax (6%), and they have an owner charge of 4%. So, for Airbnb we use a multiplier when listing properties of 1.10 and the extra 10% is there to adjust for the extra taxes and fees. This is accomplished by Coastal Sunshine Property Management collecting a additional 10% commission and then paying the bed taxes and fees directly, thus the owner is not impacted for any extra cost, it’s a wash.
- Booking/Reservations: Coastal Sunshine Property Management utilizes Lodgix software technologies for integrating with our site, Coastal Sunshine Property Management and extranet sites. In our market, roughly 80% of our bookings come from the Expedia family of extranets, Booking.com and Airbnb so we have invested the time and money to seamlessly integrate with these sites.
- Pricing: Our staff will evaluate and determine rental market rates for your vacation rental property. We have extensive local knowledge of the vacation rental market. Because rates are subject to availability, we are constantly monitoring rental rate comps and adjusting our pricing accordingly. With all the extranet changes the vacation rental market has become very complex and expensive, so we strive to get the best results and diligently work to get our guest booking directly with us, saving them substantially on transaction fees.
- Realtor Referral Program: Coastal Sunshine Property Management offers a referral program at our cost to local realtors for helping us with potential owners and tenants. The cost is absorbed within our initial processing fee.
- Housewarming Gifts: On many stays Coastal Sunshine Property Management will provide guest with housewarming gifts that can enhance their vacation. Our preferred gift is two large luxurious Coastal Sunshine Property Management Beach towels with our logo covering one whole side of the towel. This really works and keeps our branding fresh in our guest minds when taking future vacations. These beach towels are available to be purchased at our cost of $25 per.
- Professional Photos: In today’s online world most guests book online. Guest will base their decisions on what information they can gleam from these online listings and much of that information is illustrated by the photos found on the listing. At Coastal Sunshine Property Management, we use the best professional photographers available to us. In many cases when properties are in a condominium complex or resort we can purchase the companies’ amenity photos and utilize them on the properties we manage at that site. We will also keep the pictures updated as improvements and updates are made at the properties. Coastal Sunshine Property Management does not charge owners for photography
Point Central Z-Wave Technology
- Investing: In Point Central automation provides for key features needed in today’s vacation rental market. Based on Z-Wave technology more and more smart home applications will become available in the future. That coupled with the reliability of cellular as opposed to wifi makes the ROI on this equipment second to none in the industry at this time. Coastal Sunshine Property Management can offer its owners a lease or purchase of the Point Central System.
- Smart Locks: Our vacation rental program requires smart lock technology Point Central provides for. The equipment consists of a cellular hub and a smart lock on the main entrance.
- This Cellular Hub: Acts as the network that allows for Point Central Z-wave compliant equipment to be utilized throughout the home. The main piece of equipment needed is the smart lock, but depending on the property many owners add the climate control.
- Climate Control: Is an awesome add on that can literally pay back the owner the whole cost of the Point Central system inside of a year through reduced energy costs. The equipment consists of a smart thermostat and door sensors where needed. The savings is generated by temperature and open door configured parameters. For example, the unit can be heated to no more 55 degrees in the winter when unoccupied and cooled to no less than 77 degrees in the warmer months when unoccupied. There are a second set of parameters for when the unit is occupied so guest cannot cool or heat the unit outside of configured parameters. The other cool feature is the ability to shut the heat and A/C off when the sliding glass door to the balcony is left open.
Commercial Laundry FaciLities and Linen Pool Membership
- Quality: We use the same high quality linens in all our units. This allows for consistency for our guests and costs savings for our owners. When linens need replacing we just replace it at no cost to the owner. This is an area of the business that can really eat away from owner profits so we have remedied that by utilizing the linen pool process.
- Membership: Coastal Sunshine Property Management makes the linen requirements painless. Owners can avoid being nickeled and dimed to death every time a towel, pillowcase or sheet has to be replaced we just replace it at no cost to the owner. The cost of our linen pool initially is $70 per occupant for the maximum occupancy of the property. The annual cost is roughly half at $40 per occupant. Thus, a unit that sleeps six would initially cost $420 and $240 annually.
- Whats Included: Linens include bottom sheets, top sheets, pillowcases, bath towels, hand towels, wash cloths, kitchen towels and kitchen wash cloth.
- Commercial Laundry Facilities: Coastal Sunshine Property Management Operates our own commercial Laundry service at our 30A location and thus we are not dependent on an outside laundry service that may or may not sanitize all linens.
Professional Cleaning and Inspections
- Pass through: Cleaning and inspections are a pass through expense to the guest with the exception of deep cleans.
- Turn-over Cleans: These are the most challenging because in season most properties turn over with back to back rentals, meaning you only have six hours to get all the units cleaned. All hands are on deck for these turns in season. We have cleaners, inspectors and management inspections throughout the year.
- Inspections:We inspect on just about every turn. But we go one step further and require management to inspect units randomly throughout the year. It is at the time of inspection that we leave parking passes and wristband for the guests on properties that have such requirements.
- Deep Cleans: Under our rental program we require at least one deep clean a year. In many cases, we recommend two deep cleans annually. The cost is usually double the guest turn-over cleans and it is at this time we do unit inventories.
- Bedspread Cleaning and Stain Treatment: Quarterly cleaning of all bedspreads is advised. Frequent cleaning and disinfecting of your bedspreads will promote the highest level of cleanliness, aid in guest satisfaction, and extend the life of your bedspreads. For a minimal cost, your bedspreads can be picked up, professionally laundered, and delivered in a timely manner. While your bedspreads are being laundered, Coastal Sunshine Property Management will supply your property with high-quality bedspreads at no cost, so there is no inconvenience for Owners or Guests.
- Tile and Grout Cleaning: If applicable professional tile and grout cleaning is also highly recommended at least one time per year. Panama City Beach is one of the premier beach destinations in the country, which means guests are most likely in flip-flops or no shoes at all. This creates an increase of dirt, silt, etc. to be carried into all rental properties in this area. Coastal Sunshine Property Management has spent years perfecting our method of thoroughly cleaning tile floors for standard departure cleans, but once the dirt has made its way deep into the grout, it can only be removed by professionals. To preserve the life of your tile and grout, bi-annual cleaning is suggested.
Damage Protection/Insurance and Site Fees
- Pass through: Damage protection and site fees are a pass through expense to the guest.
- Damage Protection: is an insurance product that provides coverage to travelers that can help them protect themselves from additional expenses should accidental damage occur to a rental property during their stay.
- Site Fees: Many resort properties have site fees for parking, use of amenities and general security. These usually result in Coastal Sunshine Property Management purchasing parking passes and wrist bands from the COA and passing the cost on to the guest.
- Security deposits: Can result in bad reviews when holding back guest funds for accidental damages, so most of the time we do not use them. Although, during some times of the year we may require a security deposit on top of the damage protection.
Maintaining your property as an investment
- Repairs and Maintenance: We believe one of the most valuable property management services we can do for our owners is to save them money on maintenance and repairs in the care of their property. Owner approval is required on repairs and maintenance over $500 with the exception of emergencies. We require one AC service annually and recommend two to include cleaning coil in place, blowing out condensation pipe, cleaning drain pan and cleaning up AC closet. Additionally, annual pest control service is required, in many instances this is maintained by the COA/HOA. Ask about our alternative maintenance program
- Property Condition: We will handle all maintenance and repair requests from the guest. Yet, as noted earlier in this document, the owner is responsible for maintaining the home and its systems, and is responsible for all repairs and maintenance of the home.
- Payment for repairs and maintenance: Repair and maintenance invoices are paid from the rental proceeds, with the balance of the rents distributed to the owner. For larger repairs (HVAC systems, roofing, flooring, painting, etc.), we will request you make an owner contribution for the repair prior to authorizing the vendor’s work unless the next monthly rental income will cover the invoice. At times, vendors may agree to split a large invoice into two payments; this must be arranged in advance of the work being completed to ensure all understand when the payment will be made.
- Vendors: We ask that all repairs go through our licensed and insured vendors, as we maintain records of their licensure (when required) and insurance (liability always required, workmen’s compensation when required). If you have a handyman or vendor you prefer, please let us know; if the vendor is already on our list, we will note your preference in your property record to ensure that vendor is contacted first when possible. If the vendor is not in our system, we will offer him/her the opportunity to complete our vendor application and become an approved vendor.
- Home Warranties: Please provide the policy information should you have a warranty plan in existence, and notify the warranty company to add us as your manager to allow us to request service for your property. Please be aware that home warranties on appliances and equipment may not be expedient enough at certain times of the year to be cost effective to owners.
- Air Conditioning in Florida summers: A break-down of the HVAC system in Florida during the hot months is considered an emergency, particularly if theguest include children and/or elderly. We will work quickly and efficiently to ensure your guest concerns are met in a timely manner, which is sometimes challenging due to the need to order parts or a warranty company not responding quickly. We will keep you informed throughout the process, and may make recommendations on a rent reduction if a delay is lengthy or it looks like a negative review is imminent. We require one AC service annually and recommend two AC services annually. Cost: usually $195 for cleaning coil, blowing out condensation pipe and cleaning drain pan.
- Lawn Care/Maintenance:If you prefer to know the lawn is cared for to a consistent standard, we have a number of lawn care providers who can provide regular lawn and garden maintenance, fertilizer and chemical management, trimming bushes, etc. – any or all of the normal lawn care services,
- Emergency Repairs: Should an emergency situation arise and we are unable to reach you by phone, text or email, our management agreement allows us to act in your place to preserve the safety of the guest and/or the condition of the property. This might include situations such as water heater failure/flooding and subsequent remediation to prevent further damage, roof leaks requiring temporary repairs prior to assessing the extent of work needed, HVAC in high temperatures, and other such conditions. We will ALWAYS do our best to reach you prior to authorizing any major decisions, and will limit what we do to the tenants’ safety and prevention of further damage to your property.
- Vendor Payments: Payments to vendors for any repair and/or maintenance work, utility billings (trash or utilities during the period the home was vacant), etc., will be paid from available rents.
- Management Fees: Management fees will be posted to your account as the rents are received. The actual payment to the company is completed at the end of each month.
- Distribution timeline: Distribution processing usually occurs by the 10thof the month. There are exceptions and we may need a few extra days. We encourage direct deposit to your bank account, as the mails have become increasingly slow for delivery, and the funds are safely and securely delivered to you through our bank’s ACH system.
- Owner Statements and Reports:Each month after the month is closed and reconciled (usually around the 10thbusiness day), Owner Statements are uploaded to your Owner Portal (for those without email, you will receive a paper copy by mail). If you need a copy of the statement before that date, you are welcome to call our staff, and request one – just realize it will be an initial report prior to closing the month. The Owner Statement is a transaction journal of every receipt, expense and posted entry to your account.
- Owner Portal: The monthly reports will remain in your Owner Portal, and can be accessed at your convenience. At year end, you will receive the year end reports, which will reflect all activity for the year and serve as an easy way for you or your tax preparer to prepare your Schedule E form.
- 1099MISC form and other documents: At year end, the 1099MISC form to report rental income to the Internal Revenue Service will be uploaded to the Owner Portal; it will appear under the Documents tab. For those who do not use the Owner Portal, paper copies will be mailed. All forms will be stored in the Portal; your selection is how you wish to receive the form.