Tools We Adore – Owner Addendums
2020 is just around the corner, and for many vacation rental companies around the country, this means that it’s the season of Owner Addendums.
Owner Addendums, or Property Management Agreement Renewals, serve a myriad of purposes for vacation rental companies. They outline the rental rates for the following year, note inclusion or exclusion in maintenance or discount programs, provide updated information for annual catalogs or website listings, and obtain so much more information that varies from company to company.
Our LSI team members with long and extensive backgrounds in the property management industry know this season all too well, and have memories of shifting through paper addendums trying to read handwritten notes, ensuring there are viable signatures, and determining which forms from which owners are missing.
This is why our LSI folks, (and especially those with years of experience in property management), adore the Owner Addendums tool. Easily one of our more popular tools for clients across the board, here’s a closer look at all the things that Owner Addendums can do.
A Trackable Database
Forget the overstuffed folders of paperwork from hundreds of owners, or rifling through your files to identify missing addendums, or addendums with issues. With Owner Addendums, all of the activity related to your forms are in one place. You can see at a glance which forms have been signed, which have been approved, and which are still awaiting a signature, and you can even email out reminders to missing owners with just a couple of clicks!
Every property management company is uniquely different when it comes to what to include on Owner Addendums. You’ll likely want to have your suggested rates for the coming year, but you may have tons of other requests as well. Linen packages, catalog descriptions, in-house maintenance programs, photo and floor plan options, and other marketing or operational queries can all be easily included in your forms, because they are 100% personalized for how YOU do business. Essentially converting the forms you already use into an online and streamlined version, we consider Owner Addendums to be one of our most personalized tools.
Owners Love It!
We know that keeping your owners happy is a cornerstone of your job, so we tailored Owner Addendums to be as user-friendly as possible – both for your management team, and for the owners who will fill out these forms. Little extras like an option to save and revisit, the ability to share with other owners, and an easy submission process makes Owner Addendums one of the easiest ways in the industry to solicit and gather a lengthy stream of information.
It Saves Hours and Hours of Time (And Money!)
When we talked to our LSI Team about their experiences with Property Management Renewal Agreements, they had detailed and vivid memories of long days (and nights) at the office trying to organize a seemingly unending stack of information into a manageable project. It’s a safe bet that this is exactly why Owner Addendums is one of our team’s favorite tools! Owner Addendums save hours of time tracking down and reviewing forms, (a necessity when renewal season is in full swing), and allows you to tackle one of your biggest undertakings of the year in an efficient and automated way.
Want to learn more? We’re happy to tell you all about Owner Addendums, or any of our LSI Tools!
Contact Us today, and we’ll be glad to guide you through all the ways that Owner Addendums can revolutionize the way you do business.