Frequently Asked Questions for Owners
How are my funds handled
- All deposits and payments are segregated into a separate Trust Account.
- Deposits from OTAs are placed directly into this Trust Account.
- Payments to owners are made after the close of the month and generally disbursed to owners within 15 days.
- Disbursements are handled by a third party accountant and not by the staff or owners of VRMV.
Do I need specialized insurance to rent out my house
Your standard homeowner’s insurance may NOT cover your losses if you do not disclose that you are “renting to others”?
We recommend that you call your agent and review your coverage. While you are at it, get a quote from a company called PROPER!
They are the leader in the Vacation Rental Owners Property Insurance space.
Get a quote from PROPER and compare coverages!
Please see the attached brochure.
Proper Owner Benefits
- The most comprehensive insurance one can purchase for a vacation rental.
- One policy that covers the building, contents, income, and liability; no need to manage multiple policies.
- One policy that covers triple use of the property; vacation rental use, personal use, and periods of inoccupancy.
Don’t get caught exposed.
If you need to cancel write us an email saying so. Once your booking is canceled we will work hard to fill any of your reservation’s dates and try to make our guests whole as best we can. If you booked with an OTA like Airbnb you need to contact them to cancel. They will not refund your booking fees. We cannot rent your reserved time until you are canceled.
Consult your lease for your specific cancelation terms. More information on cancelations and insurance is available on our blog.