CH A P T E R 8
Best Practices: • Leave information about local attractions at your rental such as pamphlets or flyers for seasonal events. • Tell your guests which attractions are popular and if they need to book ahead. • Tell them how/where to buy tickets and the best way to get there. • Send an email with your recommendations and ask if you can help with info about local attractions. Remember, as a DIY VRP owner, you will need to wear all hats. That means, for example, that while you may have a cleaning crew, you will need to regularly monitor the cleaning process. Your ability to inspect the cleaning will insure your newly checked-in guests will have a great first impression.
8.4 Repair and Maintenance You will need to plan and implement a regular and ongoing process for administering VRP maintenance. This plan should include solid record keeping with documentary evidence of work performed, as well as materials, parts, and new equipment purchases. This will not only provide records for tax preparation, but build a full report for a future purchase when and if you decide to sell your property. When you purchase a VRP, you will have inspections performed that may reveal environmental hazards such as radon gas in the basement or water supply, the presence of asbestos materials, peeling or disturbed lead paint, in-ground heating oil tanks that may contaminate groundwater, or mold. Typically, the mortgage lender will require these conditions to be repaired before allowing the purchase to close. From there, the basic types of maintenance that are necessary for your VRP business are preventative, corrective, and predictive.
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