Regent is not a large company but it is a great company. Our portfolio is less than 30 homes, and we have no interest in being any larger than this. We are thus able to be very involved at the ground level, to know each property well, to have relationships with all the owners, and, therefore, do not have hourly employees making important decisions for us on behalf of owners. It is our business and we run it.
Generally there are two kinds of Owners that are interested in holding discussions with and hiring Property Managers.
There are those that view the property as an investment and the objective is to optimizing the return on that investment by maximizing revenues through bookings and minimizing the running costs through efficiencies. The other views the property as a second home and while they appreciate rentals to offset running costs, the prime objective is lifestyle not income. Obviously, many fit in between these two points, but then that is our job, to determine those objectives and then meet or exceed them. What Owners normally all have in common is two things. They live a long way away and they want to feel secure in their investment.
An absolute necessity, especially in the tropical climate that we enjoy, but it’s the quality and quantity of service that separates us.
Maintenance typically costs 1% to 3% annually of the value of the property. The difficulty is that it does not occur at a constant level; it can come in big lumps. We have a simple philosophy for the smaller stuff… we fix it. The larger stuff, with bigger dollars attached, we try and keep an ongoing dialogue with the Owner so there are no big surprises, and the funds have then already been budgeted.
Much of the maintenance work is done in-house to control costs and quality; however, when specialists or experts are required, we do have a team to call on that gives us first priority.
A dull but necessary area. Everything is touched by government, be it local, Federal, or both. Then of course, there are by-laws and HOA’s to deal with. Our job is to take all these off your shoulders and make sure you comply in every regard, and that taxes and bills (if you choose to avail yourself of our services) are all dealt with in a timely manner.
We provide monthly detailed accounting of all the “in’s and out’s” on Owner ledgers. This way, track can be kept of income and costs. We also provide year -end statements and tax documentation. This way, owners can keep track of income and costs.
We are a marketing company. We position and market each property according to the Owner’s goals and the intrinsic features of the individual properties.
Our website is current and relevant, and undergoes service, like your properties, for upgrades and maintenance.
We work closely with Owners to achieve the level of bookings they are looking for. Our experience is that a blend of owner bookings and bookings we generate provide the most ideal solution. We do not make outlandish promises regarding rates and number of weeks, but we do understand our market, current conditions, and the competitive situation, and will react accordingly to meet our owners goals.
The above describes our standard service, however, we are very flexible and more than willing to discuss other levels of service (from simple caretaking to quasi owner). In addition, other services would include Real Estate, buying, selling, or long term rentals. One of our principles has a Real Estate License, and is affiliated with a local brokerage firm to take care of any inquiries or transactions you may contemplate.
In conclusion, Regent is a full service company with whom you can safely trust your investment.
Daniel Baker & David Baker
Owners – Regent Vacation Villas