Fees charged by Stay Summit
Our management fees include:
- A full service property management fee of 27% of monthly rental revenue. See the Owners FAQ page and click on the questions under "Fees & Income Generation" to learn how our management fee can be less than everyone else's.
- No out-of-pocket startup expenses, but a one-time setup fee deduction from your first rental. This is not a bogus charge; it takes a lot of work to enroll your property in our management program. The fee is used to obtain high quality photos of your property, take an inventory of your home, develop detailed directions to your property, identify recommended upgrades, identify potential health & safety issues, determine access procedures to your property, create a detailed listing on our website, and develop an advertising action plan for your unit
Credit card fees. We get charged about 2.5% by the credit card processing company, and we pass that along to renters if they would like to pay in full using a credit card. We don't make any money on credit card fees, which means you don't pay them. Ever. One of our competitors charges owners 8% credit card fees! That's a crime and he knows it; lucky for him most of his clients do not. Renters are welcome to pay with a check; if they do, we don't charge the credit card processing fee. We didn't start this business to rip anyone off or overcharge anyone which means our Clients (Owners) never pay a penny in Credit card fees.
- Linens. If you choose to purchase sheets and towels from us, we charge ZERO FEES. However, you are welcome to use our sheets and towels for a fee of $1.50 per person occupancy per month for sheets, and the same for towels. For example, a condo with 6-person occupancy would cost $9 per month for towels and $9 per month for sheets, regardless of how many times it's rented in the month. If you'd like to own your sheets & towels, there are a couple stipulations. First, you must purchase double the amount of sheets & towels that we put in the home for each guest, and second, you must pay to replace 30% of the sheets & towels each year. All of our clients currently rent our linens because it's easy and cheap, but we do give clients the option to buy.
Contact UsStay Summit
117 S. Main Street
Breckenridge, CO 80424
PO BOX 4536
Breckenridge, CO 80424 P:(888) 498-1359
E: [email protected]
Here's a secret: with other companies...
Even renters pay a commission!Here's an actual screen shot from a competitor's website that a potential renter would see when booking a condo for a week in January. $456 in rental fees?!? That's 16%! Why do they need $456 in fees, you ask? The answer might surprise you: it's a scam, they don't need it. That particular company charges owners 40% commission, then they take another 16% in bogus fees from the renter. So they're actually getting 56% commission on your condo! And in fact, you're paying even more than that. Keep reading.
Surprise! You're paying the competition more commission than you think!
Here's an actual screen shot from an annual statement sent to us by one of our clients who used to be with one of the big companies in town.
Poor guy. He didn't even realize that for years, on top of his 30% commission, he was paying travel agent fees, admin fees, PBX fees, and shuttle fees.
So what exactly is a PBX fee, you ask? Here's what a PBX fee is: hidden commission. What about admin fees and shuttle fees, you ask? You guessed it: hidden commission. It makes you wonder... If their commission is 30%, why did the owner only come home with 51% of the income?
These guys should be ashamed of themselves, but they're not.
With our competition, the playing field isn't level!
And we know a lot about Summit County property management firms...
As far as we know, Stay Summit is the only property management company in Summit County whose owners don't own rental properties in the area. And most management companies own MANY rental properties.
So, when a potential renter calls them looking for a place to stay for two weeks, whose property do you think they recommend first? We'll give you a hint - it's not yours! But it's worse than you think... Not only do they own properties, but they hold them under a different name so their clients won't find out. And if a prospective client asks whether the management company owns rental properties, they can say "No!" without technically lying because their property is held by a different person or entity. Pretty sneaky, huh?
So if you're looking at availability calendars on our competitors' websites, and you stumble across a property that look surprisingly booked, they own it. We would love to own several rental properties in Summit County, but we don't because it's unfair and unethical.