Stripped of Your Vacation Rentals Earnings?
You worked hard all throughout your life and climbed the ladders of success. With your hard earned money, you started investing in real estate properties which you thought will give you passive income; building beautiful vacation rentals that you thought will help you retire from work. You hire people to look after your rentals, but little did you know that you have hired rats which will gradually eat up your much deserved earnings.
Like there are honest people who value the chance that their bosses gave to them, there are some who are wicked at heart that enjoys the fruits of their employer’s success. Some of the common frauds can be executed easily by your managers or your employees in the absence of your strict vigilance. Letting you in on some of the basic tactics that these people do may come in handy. Here they are:
1. Relying on the register book every morning for the tourist count may not be good enough to spot a witty manager. You may be unaware that some bad apples accommodate people who come and stay at your spare vacation rental space during the night with a little discount from your manager just by waving the proper register documentation. A good strategy is to go to your vacation rental at regular intervals or put a live webcam outside the doors of the office.
2. Another trick used by witty managers is to manipulate the information being recorded. A good is example is if a large group rented some rooms at your property for, say, $300/ 20 guests and at the same time another person arrives and offered to pay $75 for a single room. Naturally, the property should be exclusive to the group (unless stated in the contract). But due to the witty manager’s resourcefulness, he or she can leave a spare room vacant. You wouldn’t suspect the person who offered the $75 and would just treat him or her as part of the group. After the lease is over, witty manager just snag a quick $75 bonus.
3. Another dangerous tactic used by the mole inside your vacation rental is to point the customer to your rival. If you’re starting to wonder why you have a sudden decline of holiday makers and your next door neighbor’s rental is suddenly booming, then check your manager’s pocket for some petty competitor’s change. He or she might be acting as a commission agent, driving your customers to another vacation rental.
4. Check your vacation rental’s inventory always. Some people can be very resourceful. They can take away permanent fixtures, diesel, electronic equipment – anything that has value. They can sell these things for a quick buck, and they may pass the blame to your customers. A simple solution to this trick is to inform your employees that everything that has been found missing would be deducted to their salaries.
Jules is your online guide to amazing destinations in the US, giving advice on where to go and what to see. Visit http://thinkrentals.com to add or view properties on offer.
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