FAQ
The following are some of the more common questions we receive regarding our services. Should you not find what you are looking for here please do not hesitate to contact us and we will be more than happy to answer any specific questions you may have.
How much can I earn from renting my property on a short-term basis?
We cannot answer this question in absolute terms, of course, but on average, our clients net about 50% more from short-term rentals than what they would normally get from traditional long-term leases, even after accounting for all the extra fees and expenses. Some earn significantly more and many are typically able to block off a week or two each season for their own personal use.
Can I use my property while it is being co-hosted?
Yes. In fact, most of our clients do block off certain periods throughout the year for their own personal use and, naturally, these types of “bookings” are not subject to our commissions. Those who live nearby can also always use their properties whenever there are any short windows between bookings or any last-minute cancellations.
Why do you only co-host properties listed on Airbnb and VRBO?
Airbnb is a rather obvious choice, given the site’s useful and convenient co-hosting feature. Both of these sites also offer payment processing and collection as well as direct payouts to property owners… an important feature given our long-standing policy of never handling our clients’ money. These are actually two of the biggest and most popular international vacation rental marketplaces and, from our own experience, they are more than capable of generating enough exposure and interest for the properties we work with, particularly those within the Lake District, to get them fully booked each and every year.
Can you co-host any property?
Yes, as long as it can be legally used for short-term rentals. The homeowner is responsible for obtaining all necessary permits and registering the property with appropriate authorities, as required by local regulations. To protect our reputation, we do require certain minimum standards which a property needs to meet before we agree to co-host it, especially if we are also to manage it through our own VRBO account. When not met initially, we will give homeowner an opportunity to bring their property up to those standards before evaluating it again.
What standards need to be met by the properties the company co-hosts?
Broadly stated, properties need to be in good overall condition. There cannot be any mold and all the fixtures, particularly those in the bathrooms (bathtubs/showers, toilet bowls, sinks) need to be clean and in good working order. Although it does not need to be brand new, furniture should also not be very outdated to allow for comfortable, relaxing stays and all the basic necessities, such as kitchenware, linens and other basic amenities, should also be provided.
Do you provide assistance with legal and reporting requirements?
Since countries, states, regions and sometimes even cities each have their own specific rules and regulations pertaining to holiday rentals, we do not generally offer any assistance with obtaining any necessary permits and/or registering one’s property with the appropriate authorities. When necessary, we do help collect the required personal information from each guest prior to their arrival which we then pass along to the property owner or whoever is responsible for reporting that information to the local authorities.
Who exactly will be managing (co-hosting) my property?
Roughly 90% of bookings and guest communication is handled by us, Maciej and Brenda, personally. This ensures a consistent, high quality level of service we provide to all our clients and is the main reason we work with a limited number of properties. Of course, our team consists of a few other highly competent and experienced individuals who are perfectly capable of handling any necessary task.
What is an “open contract” which Trusty Co-host operates under?
An open contract has no defined duration and can be terminated at any time and for any reason, thus allowing our clients to enjoy our services without the potential risk of a long-term commitment.
Do you require exclusivity?
No. However, things can get complicated when more than one company or individual is managing bookings, especially when various marketing methods are employed as well. To minimize the risk of any serious problems (double bookings, etc.), we always advise our clients against working with multiple agencies at the same time.
How can your fees be so low?
While traditional management companies often retain 25 – 35% of the homeowner’s annual rental proceeds as a fee for their management services, co-hosting fees typically average closer to 10 – 15%, given your average co-host’s significantly lower overhead costs. Having done this for a while we’ve learned how to work as efficiently as possible, allowing us to streamline our operations to the point where we can charge relatively low 6% commissions while still providing all our clients with the highest quality service they deserve. Our service fees are also not subject to any additional taxes (such as VAT, etc.) which other agencies / co-hosts may include in their fees.
How can I pay 2% commissions, as referenced on this site?
While our standard commissions amount to 6%, we do also offer a flat-rate co-hosting service for €75 per month. This amounts to €900 per year, regardless of how much income the property actually earns. Some properties we co-host generate over €40.000 per year which, under our standard 6% commission model, would result in service fees of roughly €2.500. By choosing the flat-rate model, owners of such properties effectively pay us service fees of just over 2% of the income they earn with their homes.
How and when do you collect your service fees?
Consulting fees are payable upon ordering a particular service. Invoices for co-hosting services (commissions) are sent to property owners after they receive payouts from the relative bookings. Monthly service fees (FLAT-RATE model) are billed at the beginning of each month. Invoices for ground services are sent out after the services had been provided. We accept bank transfers and Paypal which allows the use of credit and debit cards. Paypal also provides an option to set up automatic monthly payments (FLAT-RATE model). For properties listed on Airbnb we can also use the site’s convenient “split payout” feature to collect our service fees (see below).
How does Airbnb’s “split payout” feature work?
With this useful feature, payouts from each booking can be divided between property owners and their co-hosts, each receiving their share directly from Airbnb. Co-host’s share can be a percentage or a fixed amount from each payout and homeowners can generally work with multiple co-hosts. While co-host “A” may receive 10% from each payout for their administrative help, co-host “B” may receive Euro 80 from each booking as compensation for the ground services they provided. The property owner then receives whatever remains.
What other marketing methods do you use?
While vast majority of bookings come from Airbnb and/or VRBO, we employ several additional methods for generating exposure and interest for the properties we co-host. Most prominent of those are our Database Marketing campaigns which we talk about on this site. Within the Lake District these account for nearly 20% of our clients’ bookings and they generate 5-10% of reservations within other popular nearby destinations. The properties are also featured in our recently published travel guides (which for now focus on the Lake District) and we are increasing our use of social media to promote all of our clients’ holiday homes.
What makes Database Marketing so effective?
The database comprises of thousands of holidaymakers from countries like Germany, France, Holland and Switzerland who love vacationing in northern Italy, with many visiting the region at least once a year. As our former guests, for the most part, they are usually quite happy to book with us again and stay at one of the many properties we recommend. There are also many “locals” from Milan, Turin, Bergamo and other nearby cities who head out to the lakes or the mountains every few weeks and generally prefer to rent private accommodations for their short getaways. Living nearby, they are great at filling the short gaps between bookings, taking advantage of last-minute offers and other special promotions.
What ground services can you provide?
Within the Lake District, and mainly within the shaded area on the map (see GROUND SERVICES page), we can essentially provide all the necessary ground services, such as personal welcome (key delivery/collection), restocking of basic supplies, cleaning and laundry. Although for some of our clients we are the primary providers of these services, typically we act as back-ups to homeowners’ primary ground services providers, getting called in a few times per year in emergency situations. If you are in need of a ground services provider please contact us and we will be happy to discuss this matter with you in more detail.
What type of photography services do you provide?
Within our “New Listing Creation” service (see CONSULTING page) we professionally edit whatever photos are supplied by our clients. No additional fees are charged for this editing. Within the Lake District, we can personally come out to our client’s property to take and then edit as many photos as we deem necessary for use in online listings and other marketing campaigns. The fees we charge for this service vary depending on the size and location of a given property but generally average around €100 – 150. Similar fees apply for our video services although a generous discount is typically offered when both services are being provided.
Is Booking.com a good place to list my property?
Even though we do not co-host properties listed on Booking (mainly due to lack of a payment processing/collection feature), we still like the company. From our experience, the site is not as effective as Airbnb and VRBO for vacation rentals, at least not within the Italian Lake District… it works better for city rentals where travelers are looking to book just a night or two and are searching for alternatives to pricey hotels. Still, even if it is somewhat more complicated to work with, the website does reach a lot of travelers around the world, making it a viable option for those looking to generate extra exposure for their properties.