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?
If you’d like all this info in a nice pretty colorful flyer format, just click here.
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.