Vacation Rental Management
So, you are thinking about renting your home. We are here to help! Our primary focus on making your property work for you while keeping it in top notch condition. CB Sales & Rentals offers complete property management with commission as low as 17%, free VRBO and HomeAway listing, online reservations, and a free virtual tour. What’s not to love?
What do we charge in commission: We want to reward our owners for their loyalty. Your first year with us starts at 22%. You will earn 1% off every year thereafter up to 5% off in year 6 as long as your vacation rental is available for us to accept reservations a minimum of 8 of the 11-12 summer weeks each year and CB Sales & Rentals is the exclusive management company.
Example based on rental income of $30,000.00
Rate Commission Owner Net Savings
Year 1 22% $6,600.00 $23,400.00 —–
Year 2 21% $6,300.00 $23,700.00 $300
Year 3 20% $6,000.00 $23,400.00 $600
Year 4 19% $5,700.00 $24,300.00 $900
Year 5 18% $5,400.00 $24,600.00 $1200
Year 6 17% $5,100.00 $24,900.00 $1500
What do we do for that commission: There are a lot of things that go into making sure your rental is ready and things go smoothly. We take pictures of the home, shoot a free virtual tour of the home, list it online, take reservations, accept credit cards, handle all the accounting, pay state sales tax, pay local occupancy tax, prepare your 1099, pay out any bills you may have incurred from your excrow account, arrange for services and repairs, arrange for cleaning and inspection of your unit after each rental, publish a brochure annually, list your home on VRBO as well as HomeAway for free, take after hours emergency calls, send you annual home inspection reports, email comments from cleaners and renters, and personally take care of any renter’s concerns or questions. Summer of 2013 we boasted a 95% occupancy rate. We don’t just promise results, we deliver!
Are there any “hidden fees”: We charge $25 to put a lockbox on your home, that you own, should you ever leave the rental program. We provide the initial virtual free of charge; however, if you make big changes to your home and want the tour reshot, there is a $125 reshooting fee. If you leave light bulbs and a/c filters in your home, the cleaners will change them for $5 per bulb/filter when needed if you wish. (This ultimately saves you money in the long run from expensive a/c repair and maintenance calls)
Do we provide maintenance: No, we do not provide maintenance or lawn care, but we will happily arrange these for you and deduct the cost from your rental proceeds upon request.
What do we require from our owners:
Utilities - Electricity and cable or satellite (or digital antennae) and water are required. Internet helps boost rentals, but we do not require it. Phone service is not required.
House furnishings – we have prepared a full list of unit requirements to make sure you get everything you need while shopping.
Communication - anytime you will be using your house, we need to know so we don’t book a rental in your home while its occupied. This can be done by phone, email or at the Owner Login on our website.
Upkeep of your home – You should plan on reinvesting one full summer week’s rent back into your home annually. This will keep it looking great and producing more income, year after year.
A common goal – The needs of each owner are different so let’s discuss your personal goal for your property and work together to make it happen.
CB Sales & Rentals, Inc. is one of the oldest, most recognized and respected management companies at Smith Mountain Lake.
With age comes experience and we’ve been around since 1992. Being one of the oldest and largest property management companies at Smith Mountain Lake, we have learned what works and what doesn’t when it comes to managing your property. We understand how valuable your time, money and most importantly, peace of mind is when it comes to finding the right company to manage your rental property.
If you would like any further information on our rental program or would like us to forward you an Owner’s Packet, just let us know. Rest assured, we will be here for you every step of the way!!!
Owner Packet Documents are available for your review; however, please contact the rental office at 540-297-7000 for the most current documents.
Owner Packet PDF List
2014 Vacation Rental Owner Contract |
Bedford County Short Term Rental Application
Vacation Rental Spring Cleaning Checklist | Webview
Vacation Rental Home Unit Requirements | Webview
Vacation Rental Cleaning Checklist | Webview
Important Reminders Sheet | Webview
Vacation Renter’s Guest Contract | Webview
Why Choose CB Sales & Rentals?
Often homeowners ask about the tradeoffs between self-management (RBO – Rent by Owners), other management companies, and CB Sales & Rentals, Inc. What’s involved? Are managers cost effective? Are we worth our price? How are we different from the rest?
Property management is pretty tough work, but we’ve been around since 1992 so we have seen it all and been through it all and have it down to a science! The challenge is not just finding renters, but cleaning, scheduling, repairing, bookkeeping, and taking care of the guests to make sure they come back year after year all while making sure your home investment is protected. There are a lot of things that go into making sure your rental is ready and things go smoothly. We take pictures of the home, shoot a free virtual tour of the home, list it many places online, take reservations, accept credit cards, handle all the accounting, pay state sales tax, pay local occupancy tax, prepare your 1099, pay out any bills you may have incurred from your escrow account, arrange for services and repairs, arrange for cleaning and inspection of your unit after each rental, publish a brochure annually, list your home on VRBO as well as HomeAway for free, take after hours emergency calls, send you annual home inspection reports, email comments from cleaners and renters, and personally take care of any renter’s concerns or questions. Summer of 2013 we boasted a 95% occupancy rate. We don’t just promise results, we deliver!
What’s your time worth to you?
Most importantly, there is the question of time spend securing, following up on, accommodating, and accounting for a reservation. Rental by Owner sites require homeowners to chain themselves to their phones and computers, updating unit calendars when its booked, responding to customer emails, explaining the rules, running payments to the bank, filling out tax forms monthly, etc. CB Sales & Rentals, Inc. has a full time staff to answer emails, phone calls, walk-ins, as well as and handle all the administration work plus a 24 hour online bookings to take reservations around the clock. All you have to do is sit back and collect the rental checks.
What does it really cost you to manage your own home?
Based on rates of: Summer Weekly 3,800 Spring / Fall Weekly 2,533 Winter Weekly 1,900 Holiday 2,850
|CB Sales & Rentals||Vacation Rental By Owner|
|Short Term Vacation Income|
|10 Summer Weeks||
|8 Summer Weeks||
|4 Spring / Fall Weeks||
|3 Spring / Fall Weeks||
|2 Winter Weeks||
|2 Winter Weeks||
|1 Holiday Week||
|1 Holiday Week||
|Net Rental Income||
|Net Rental Income||
|Utilities at $300/mo x 12 months||
|Utilities at $300/mo x 12 months||
|VRBO Listing||FREE||VRBO Listing||
|HomeAway Listing||FREE||HomeAway Listing||
|House website||FREE||House Wesite||
|State Sales Tax||We file & pay||State Sales Tax at 5.3%||
|Bedford Transient Tax||We file & pay||Bedford Transient Tax 5%||
& YOU file
|Virtual Tour / photographer||FREE||Virtual Tour / photographer||
|Actual Rental Income||
|Actual Rental Income||
There are many items that need repairing at any given time. Just think of your own home: a toilet runs constantly; a storm trips the kitchen breaker; your a/c or water filters need changing. At your own home, you likely handle these items as they come up but surely don’t want to drive 200 miles for a 5 minute fix, nor do you want to be overcharged by a handyman. We’re experts at handling problems that routinely arise. We anticipate and avoid recurring problems through preventive maintenance with a network of vendors who respond faster to us, and with less expense, than they would to an individual because we send them so much business. We know how to avoid petty maintenance calls that could end up costing you big bucks We keep backup cleaners on call because we have enough homes to keep them busy. Not only do we routinely inspect your home, but our cleaners also serve as our eyes and ears, alerting us of any potential problems before they become larger. We give our renters and owners access to us 24 hours a day, 365 days a year, with an emergency contact number, in case any major issues arise. You can feel confident that your home is well cared for around the clock.
We take Visa, MasterCard, Discover, and check by phone. We require a non-refundable 50% deposit at the time of booking, ensuring fewer cancellations, and more income for our owners.
Rent by Owner sites attract bargain shoppers. We have a larger pool of renters who are more interested in getting the home they want than in getting a bargain. We monitor the booking pattern of your home and your competition to determine whether we need to give discounts. We have a good sense of when, or if, to discount, and by how much.
No one enjoys dealing with the tax man. Many VRBOs fail to charge state & local tax. This may appeal to renters, but local tax authorities are mobilizing and starting to access homeowner’s Federal Tax returns (through PACE agreements) to identify homeowners who have reported the expenses associated with their rental homes. CB Sales & Rentals, Inc. relieves the homeowner of tax collection and, of course, interest, fines and criminal penalties.
Our mailing list contains over 15,000 customers. Our email database contains over 10,000 potential clients who have inquired or reserved with our company over the past 10 years. We are members of the SML Chamber of Commerce and share their lists. We have alligned ourselves with area boat rental companies and share their lists as well. Our website consistently places in the top 3 positions on Google. We advertise on Craig’s List, Oodle, Trulia, HomeAway, VRBO, Facebook, and many other sites. All of these venues are used to get your property seen and ultimately, to get your home booked as many weeks as possible.
We only make money when you make money. Our job is commission based, therefore, we have some serious motivation to work hard to book your home as much as possible. But, we also like our time away from work to be trouble free, so we screen our tenants to make sure we only put quality renters in your home so we don’t get after hours calls about disruptive renters.
You can access your reservation calendar on our website 24/7. From here, you can also view income reports, dates booked, and make reeservations for your own personal use dates anytime its convenient for you, day or night.
Notifications and Accounting
When a reservation is made on your property, you are notified immediately by email. Each month you receive a detailed statement of expenses and income. At year end, you receive a 1099 which makes income reporting a breeze.
The Bottom Line
CB Sales & Rentals has been in business since 1992. We’ve learned through experience what works and what doesn’t. Many of our renters have been with us from day one because we treat them like friends and welcome them back every year. We only represent quality homes because they attract quality renters. Our goal is to make vacation rental home ownership a pleasant experience, earning top dollar for your property, while at the same time, ensuring your property stays in top notch condition and continues to increase in value.