1. Why Stratton Rental Management?
With Stratton, you choose a quality experience that not only provides the highest return but also protects your asset. This is what sets Stratton apart from the competition. We invest in the resources necessary to build occupancy in the shoulder seasons. Stratton showcases a full-time professional group sales/conference services team who enable us to attract group business. Our established clientele is willing to pay a higher premium for the level of service and quality experience they receive at Stratton. These two factors equal a higher return to our rental owners at the end of the year
2. How much is the Management Fee and what does it include?
Our Management Fee is 50% of the adjusted gross unit revenue. Unlike many other rental management companies, Stratton offers a more 'all inclusive' rental agreement. The Stratton Rental Program covers the following charges: rental guest housekeeping, preventative maintenance, linen replacement, reservation and marketing fees and other charges. Under our Agreement, the Management Fee pays all of these expenses. At first glance our program may seem more expensive, but once you compare 'apples to apples' you will find it much easier to work with and more cost efficient. You will not have to deal with an endless supply of invoices to take care of your unit. Everything is included. The real differentiator of our rental management service is our marketing. Because of our marketing, we have the ability to fill the traditionally slower 'shoulder' seasons of spring and fall with group business. We generate a higher average daily rate because of the level of service being provided including:
3. What costs will I be responsible for as an owner?
As an owner, you will be responsible for all of your utilities including electric, gas (if applicable), cable (which is paid through your Stratton Owner Association dues), and water, as well as the Stratton telephone service. You are also responsible for all of your Association Dues.
Amenity and Park fees, as well as travel agent commissions and credit card fees are removed from revenue prior to the commission split. Owners are responsible for furniture and appliance replacement, housekeeping fees for owner's stays, content insurance, non-routine maintenance, mortgage payments, normal wear and tear items, interior upgrades including painting and upholstery cleaning, property taxes, owner use long distance fees and cyclical carpet cleans if you choose to participate.
4. How will you be able to attract guests to stay with Stratton Rental Management?
Renting your unit through Stratton Rental Management offers significant competitive advantages. We are the exclusive in-resort rental manager at Stratton Resort with access to group, conference, wholesale and travel business via our multi-million dollar strategic marketing programs targeting the U.S. and Canada.
Our Reservations Department has systems in place linking it directly to the central Intrawest call center in Vancouver ensuring 24-hour reservations coverage all year long. Stratton's Reservations Department has also won the Intrawest Cup 28 times for excellence in call service.
We have exclusive control of 27 function rooms totaling more than 40,000 square feet of conference, function and meeting facilities attracting year-round business to Stratton.
Because Stratton is the resort operator, we are able to offer comprehensive packages and services to guests in addition to their accommodations.
5. What rates will be charged to rent my unit?
Our proposed rack rates are published in January of each year. In order to achieve the highest occupancy percentages, average daily rates, and to secure the best overall rentals, a variety of pricing options are available to transient, wholesale, travel agents, tour operators, corporate and leisure travel groups and other guests. Stratton will use its best pricing judgment in an effort to secure consistent levels of occupancy. The mix of types of rentals or guests will affect the overall nightly rate, but in general terms the nightly realized revenue will be approximately 75% of the established 'rack rates'.
6. Can I set my own rates for my unit?
We are not able to meet this request. We are a large rental management company and part of our success comes from operating a dynamic and flexible reservations system. Reservations are often moved between units to allow us to minimize the 'gaps' between various length stays. Having different 'rules' in place for individual units would hamper our ability to maximize occupancy for all owners on Stratton's Rental Program.
7. How often will my unit be rented?
We cannot predict revenues, however, we can give figures based on historical data from units that have been, and continue to be, on Stratton's Rental Program. Stratton currently brings in an occupancy rate of just over 46% annually. This is partly due to the efforts in marketing and sales to meeting planners, tour operators, travel wholesalers and travel groups. Our goal is to help drive occupancy by actively marketing to group business, winter guests and golf groups that are an excellent source of 'shoulder season' bookings. Thus, rounding out occupancy throughout the year, especially during the quieter periods.
8. How does Stratton Rental Management decide which units are rented first?
When a guest calls and requests a particular size, location, feature, view or type of unit, we will do everything possible to fulfill our guest's needs as best we can. When a guest calls and has no particular request, our sophisticated management system, Springer Miller, distributes rentals on a fair and equitable basis utilizing unit rating and current revenue to owner for the period to decide which unit is rented first.
9. How will my unit fit into the existing Stratton Rental Management rental inventory?
New units signed up on the Stratton Rental Program will be treated and rented using the same parameters that apply to comparable unit types in our existing inventory.
Unit Type is an internal code used to distinguish various sizes and types of units when they are 'built' in our SMS Reservations and Lodging Accounting software system. Your unit will 'compete' equally for guest rentals with like units in our active inventory.
10. How often can I use my unit? Are there any restrictions? What is the booking policy?
As far as Stratton is concerned, the Owner can use the Unit as much as he/she wants. There is a very detailed explanation of Owner use in our Rental Management Agreement (page 7). We do ask for at least 90 days notice prior to booking an owner reservation to request dates. Simply fill out the 'Owner Reservations' form in your rental packet, or on this website. If you would like to make a reservation with late notice, you can personally phone in a reservation to your Rental Manager. We will do our best to fulfill an owner request. You must understand that owner occupancy reduces the overall opportunity for revenue and is even more dramatic during peak occupancy periods. This should be considered whenever contemplating personal use of the Unit.
11. Can I rent my unit myself while on the Stratton Rental Program?
The Stratton Rental Agreement does not allow for owners to rent their units themselves while participating on the Rental Program. Stratton Rental Management retains the role of exclusive rental manager under the terms of the Agreement.
12. Are there any special benefits or advantages for Stratton Rental Owners?
13. How does Housekeeping work?
Since housekeeping and maintenance of the Units are such an integral part of the guest (and owner) experience, we devote substantial management time to quality control. We perform inspections by trained supervisors to ensure that the quality of cleaning and Unit presentation meet the highest service level standards. For our rental guests, housekeeping services, as well as a linen and towel exchange are included in each package. Stratton pays for all housekeeping costs and services, including all laundry, guest supplies, and labor.
14. How does Engineering work?
Stratton provides onsite maintenance to keep the Units in good rental condition. Routine maintenance items are provided at no charge to the owner. Quick and efficient response to your Unit's maintenance needs is a major objective of ours. Stratton Engineering maintains an inventory of commonly used repair items and tools on the property. Engineering personnel are radio dispatched for quick service to you and the Rental Guests.
15. How is damage or theft in my unit handled?
Stratton has developed a very detailed housekeeping inspection process to protect your assets. After room attendants clean, trained 'quality control' inspectors ensure cleaning standards are met and check for any damages. If any damage/theft should occur within a unit, Stratton will endeavor to attach the damage/theft to the guest who caused it, and charge them accordingly. If the damage cannot be charged to a specific guest, Stratton will accept responsibility for up to $500 of damage. If damage is a result of normal 'wear & tear', the owner will be responsible for replacement.
16. Can I, or my contractors, gain access to my unit if I don't have a reservation?
In most cases, yes. Many owners need to access their units at various times to inspect it, change decor or retrieve items from their owner's closet. Also, homeowners often need outside contractors or vendors to access their unit.
To gain access to your unit when you do not have a reservation, simply contact the Rental Owner Relations Office to see if your unit is occupied. Our policy is not to disturb guests whenever possible. If your unit is unoccupied, a Rental Representative will be happy to provide access to your unit.
17. Can I personalize my unit?
We really try to limit the number of personal items in the Units. The reality is that most rental guests consider this a public accommodation and not a residence. The decor should reflect this. It is also important when renting to corporate and business groups that all units are of a consistent level of quality and as similar as possible. This adds to the ease and comfort of dealing with these groups, and it is what they expect. Also, personal items are too hard to keep track of, and may go missing. We cannot therefore, guarantee the security of these kinds of items. If you would like to have these types of items when occupying your unit, please feel free to do so. Prior to your departure, simply store them in your Owner's closet. Please call if your have any questions regarding this policy.
18. If I need to take my unit out of the rental pool for renovations, what should I do?
First, contact your rental manger to schedule the unit for an Out Of Order (OOO) block. An OOO block temporarily suspends the unit from rental for the period requested by the owner. Your rental manager will then work with you and your contractors to provide keys to access your unit. When the OOO block has expired, the unit will be cleaned and prepared for the next reservation.
OOO blocks do not prevent any reservations, forward of the OOO dates, from being accepted thus the unit remains active for future bookings.
19. Can I place restrictions on my rental unit?
There are definitely restrictions that we can place on your rental units on your behalf. For instance, each owner has the right to designate their unit as a 'smoking' or 'non-smoking' unit. Customer trends in the hospitality industry strongly indicate a preference for non-smoking accommodations.
Owner's can also designate their unit to be 'pet friendly' for Extended Stay Guests, however, you'll have to check with your individual Association to see if your building is 'pet friendly' or not. In most high-rise buildings the Association allows owners to have pets in their units, but not rental guests. The exception, of course, is for pets that assist individuals with disabilities. Please note that if an owner chooses to bring a pet during their stay and any additional cleaning, beyond the standard check-out clean is required, that owner will be charged accordingly.
There are currently 200 + units in the Stratton inventory and beyond these two restrictions, it is very difficult for Rental Management and the Stratton Front Office staff to comply with small, personal restrictions. We will be happy to note your requests, but we are unable to guarantee compliance.
20. Who is my contact when I need assistance with issues relating to my unit?
The Rental Owner Relations Office is staffed with customer service professionals with facilities and resources specifically designed to cater to the need of our rental owners. This office is able to liaison with the various Stratton Lodging departments involved in the rental management, cleaning and upkeep of units on behalf of the homeowners.
Each Rental Manager has been assigned different neighborhoods throughout the resort, and acts as the primary point of contact for owners of units in these neighborhoods. The Owner Relations Office is open from 8:00am - 5:00pm Monday through Friday and Saturday from 8:00am - 5:00 p.m. We are located between Mountain Sweets, Village candy store and North Face.
21. What insurance, beyond what my association carries, do I need to participate in the rental program?
For your Unit, liability insurance is needed and contents insurance is strongly recommended. In the Stratton Rental Agreement, there are specific instructions and minimum amounts described. Stratton asks that owners maintain a broad form of comprehensive public liability insurance of no less than one million dollars ($1,000,000) on their Unit. Stratton also recommends that owners maintain personal property insurance covering the contents of their Unit.
22. If I sign up to be on the rental program, how soon will my unit be ready for rental?
The process involved in activating a unit on our Rental Program typically takes around 2 weeks from receipt of the signed Agreement.
In cases where the unit is already active on the Rental Program, but ownership has changed, the transfer in our system of ownership details can be completed within 7 days of receipt of the signed Agreement. In most cases, it is not necessary to interrupt rentals.
Call 1800 STRATTON for more information.