Owner’s Handbook Welcome to Vacasa visit vacasa.com 877.562.3105 | [email protected] Owner’s Guide Chapters Welcome to Vacasa...................... 1 Why Vacasa.................................... 2 Preparing to Host Guests............ 3 Operations..................................... 6 Maintenance................................10 Protecting Your Home...............12 Guest Satisfaction......................13 Keeping Up With Your Home...14 Understanding Your Monthly Statement....................15 Owner Support...........................18 Welcome to Vacasa! It’s important to work with people who take as much care with your investment as you do. This document will be your guide for all the nitty gritty details of your new partnership with Vacasa. We understand entrusting your home to a professional management team is an important decision. We will work with you to help make the most of your vacation home. This handbook will give you an in-depth look at how it all works. In this packet, you’ll find all the details on the policies and procedures we’ve developed over time to ensure your home is a well-cared-for and successful rental property. Your Local Operations Manager is available to handle any concerns you might have. You can find their contact information listed on the owner portal at owners.vacasa.com. In the event that your local manager is unavailable or an emergency arises, you can always contact us through our Operations phone line at 877-5623105 or email us at [email protected]. We recognize that, like each home we care for, each owner has his or her own unique needs. We look forward to building an open, communicative relationship with you! visit vacasa.com 877.562.3105 | [email protected] 1 Why Vacasa? When you’re choosing a management company, it’s important to consider the strengths of both larger companies and smaller, local firms. With Vacasa, you get the best of both worlds. We combine the extensive resources of a large company with the in-depth local knowledge of a smaller outfit. Sophisticated Software Simplified Experience Vacasa has created powerful customized software that allows us to track and analyze data in unique ways. Our database provides extensive information that helps us predict how the industry functions, so we can deliver the best possible return on your investment. It’s our goal to make the vacation rental process simple for guests and homeowners alike. As a homeowner, all you need to do is cash a check at the end of every month. We handle advertising, listing, marketing, rates, permits, contractors, reservations, housekeeping, housekeeping supplies, maintenance tracking, customer service, and guest inquiries. At the end of the year, we send you a 1099 tax form for your use. We leverage rates to stay current and competitive, manage an in-house call tracking and email system, record extensive guest history, deduce sophisticated review averages and statistics, observe unit performance metrics and housekeeping metrics, and use strategic testing to gauge marketing success. Ultimately, our software allows us to better serve to the specific needs of owner services, housekeeping, and guest care. Dynamic Pricing Unlike traditional management companies that simply set on- and off-season prices, Vacasa maximizes revenue using a complex set of variables. Our dedicated analytics team works to customize each home’s pricing patterns to maximize profitability. We adjust rates based on many variables: season, regional events that draw travelers to your town, property-specific features or amenities that add value for guests, the number of guests each home accommodates, and the proximity to popular attractions. Our rate strategies also adjust for the timing of the reservation, accounting for advance booking potential, last-minute stays, and holidays. visit vacasa.com We have found that many travelers make vacation plans in the evening and on weekends. We have a specialized reservations team available 24 hours a day seven days a week to handle all customer service and guest inquiries. This provides a huge advantage over management companies that are only staffed from 9 AM - 5 PM Monday through Friday. Additionally, our local managers and agents are always on-call to handle urgent and non-emergent issues. Another way Vacasa makes things simple for owners and guests is our standardized linen service. To save you time and ensure a consistent experience for every guest, we offer standardized towels and bed linens in every Vacasa home (more on that in the Operations section, page 6). 877.562.3105 | [email protected] 2 Preparing for Guests Guest Expectations and Personal Items If you have not rented to guests before, there are some things to keep in mind. Most guests expect a vacation rental, similar to a hotel, to be presentable in every way and for everything to look as new as possible. Guests typically seek out homes that are at least a small step up from their own homes, and they will judge their experience based on this set of expectations. We encourage you to reach out to your Local Operations Manager to see if they have recommendations for interior design services that will improve your home. Doing so ensures that it photographs better, rents better, and earns better reviews - all things that lead to more revenue for you! We have found that removing personal items opens the home, providing more room for guests to make their own special memories. We encourage owners to remove highly personal items from the home prior to renting it as a vacation rental. To name an example, while your taste in art enhances your home’s one-of-a-kind style, family photos can often distract guests from feeling as though the space is theirs to enjoy during their stay. Guests tend to view your home as though it is solely theirs for the limited time they are occupying it. They may look in every closet, every drawer, and every cupboard, and feel as though anything present is theirs to use. For this reason, please remove anything that you do not want a guest to access. We recommend keeping a locked closet for personal items that you do not want to move off-site. We also recommend maintaining a locked supply closet for storage of paper products and cleaning supplies, as it helps our housekeepers to have these items on hand for more efficient cleans after each guest stay. Vacasa will stock the necessary toiletries, cleaning supplies, and paper products for each reservation. Required Furnishings & Amenities In order to maintain a high standard in every Vacasa home, we require homeowners to supply certain items, listed below. Your local operations manager will purchase any missing items and deduct the cost from your owner statement. The very best way to increase reviews, bookings, rates, and your financial return is to provide items that set your home above the rest. We encourage each homeowner to go above and beyond to outfit their home in a way that caters to guest wants as well as their needs. In most cases, we have specific recommendations for certain items based on our considerable experience in outfitting vacation homes. If you prefer, we can purchase many of the listed items on your behalf and simply deduct them from your statement. visit vacasa.com 877.562.3105 | [email protected] 3 Preparing for Guests Kitchen Many guests choose a vacation rental over a hotel for the express purpose of preparing meals, so providing a well-stocked kitchen is key to guest satisfaction. Please provide: ✔ 1 1⁄2-quart covered saucepan ✔ Potato masher ✔ 3-quart covered saucepan ✔ Ladles ✔ 8-quart covered stockpot ✔ Potato peeler ✔ 4-quart covered sauté pan ✔ Oven gloves ✔ 10-inch skillet ✔ Cutting boards (2) ✔ 8 1⁄2-inch skillet ✔ Strainer ✔ Coffee maker ✔ Knife sharpener ✔ Coffee grinder ✔ Beer bottle opener ✔ Toaster ✔ Plastic or glass food containers ✔ Microwave ✔ Baking dish ✔ Water glasses (1.5 of max occupancy) ✔ Roasting pan ✔ Wine glasses (1.5 of max occupancy) ✔ Cookie sheets (2) ✔ Large plates (1.5 of max occupancy) ✔ Pizza pan ✔ Small plates (1.5 of max occupancy) ✔ Pizza cutter ✔ Coffee cups (1.5 of max occupancy) ✔ Kitchen towels (set of 10) ✔ Silverware (1.5 of max occupancy) ✔ Paper towel holder ✔ Wine/bottle opener ✔ Plastic cups - for young children ✔ Can opener ✔ Plastic plates - for young children ✔ Spatulas ✔ Pitcher ✔ Measuring cups ✔ Serving platters (at least 2) ✔ Sharp knives (at least 3) ✔ Mixing bowls/salad bowls (at least 2) Mixer ✔ Steak knives ✔ Blender ✔ Mixing spoons ✔ Slow cooker (optional) ✔ Pancake spatula ✔ Rice cooker (optional) ✔ Cheese grater ✔ Waffle iron (optional) visit vacasa.com 877.562.3105 | [email protected] 4 Preparing for Guests For Each Bedroom We have found that the best way to dress a bed for vacation rentals is a comforter inside a duvet cover, a few throw pillows, and extra blankets to cozy things up. Matching sheets are also a very important part of making a home guestready. Vacasa operates a special program to keep all of our homes outfitted with standardized bed and bath linens. For more details, please refer to the Operations section (see, page 6). ✔ 2 pillows for every person ✔ 1 mattress pad per bed ✔ 1 blanket per bed ✔ 1 comforter for every bed (if duvet cover sets used, a bed coverlet and shams should be added) ✔ 1 backup comforter/duvet cover for emergencies per bed ✔ 1 or more accent pillows - for display For Each Bathroom ✔ 1 plunger for each bathroom ✔ 1 toilet brush for each bathroom, with stand ✔ Bath towel holder and hand towel holder for each bathroom ✔ Hair dryer Other - Required ✔ Doormat at each door outside ✔ Iron ✔ Garbage container ✔ Fire extinguisher ✔ Recycling container (required if city recycling available) ✔ Smoke detector ✔ Specialty light bulbs (if needed in the home) ✔ Ironing board ✔ Carbon Monoxide detector ✔ First aid kit Other - Not Required, but Preferred ✔ Vacuum - bagless ✔ BBQ utensils ✔ Broom/dust pan ✔ 2 spare propane tanks for gas grills ✔ Battery-operated candles (in case of power outage, to be kept under sink) ✔ Wood required if fireplace or wood stove is present ✔ Flashlights (at least 2) – rechargeable, plug-in models preferred ✔ Step ladder ✔ BBQ (propane, NOT charcoal) ✔ BBQ cleaning brush visit vacasa.com ✔ Garden hose with nozzle - if outdoor water source is available ✔ Electronic Lock Model BE369NX for deadbolts Model FE599NX for levers 877.562.3105 | [email protected] 5 Operations Housekeeping Certain pleasures are inextricably linked with our idea of vacation: the smell of freshly-laundered linens, the glisten of an unused appliance, natural light through streak-free glass, soft carpet under bare feet, and squeaky-clean tile flooring. These luxuries are the reason guests choose a vacation rental as a place to create new memories, and this is why a dedicated housekeeping staff is at the heart of any successful vacation rental. Supplies Vacasa is proud to provide its housekeeping staff with a living wage (starting at $15/hr, depending on local cost of living) while keeping cleaning fees in line with industry norms. We view housekeeping as a key investment, not a profit center. In addition, Vacasa covers the cost of consumable supplies for our guests and cleaning supplies for our housekeepers, detailed below. Vacasa-Provided Supplies for Each Home and Guest ✔ Shampoo ✔ Laundry detergent ✔ Dish brush ✔ Conditioner ✔ Fabric softener ✔ Kitchen trash bags ✔ Paper towels ✔ Dishwashing liquid ✔ Small trash can liners ✔ Toilet paper ✔ Dishwasher pacs/pods Vacasa-Provided Supplies for Each Housekeeper Our housekeepers are outfitted with all supplies necessary to keep your home sparkling. In order to keep your home pristine between guests, Vacasa provides the following at no cost to you: ✔ Oven cleaner ✔ Disposable gloves ✔ Razor blades ✔ Floor cleaner ✔ Scrub sponges ✔ Window squeegee ✔ All-purpose cleaner ✔ Cleaning sponges ✔ Bucket ✔ Scrub brush ✔ Microfiber towels ✔ Dust mop ✔ Non-scratching scouring pads ✔ Razor scraper visit vacasa.com 877.562.3105 | [email protected] 6 Operations Standardized Linen Program Vacasa is proud to offer a comprehensive linen program that outfits each Vacasa home with standardized bed linens and bath towels. How does it work? This quick and easy guide will give you an overview. Why does Vacasa have a linen program? At Vacasa, we’re all about giving you fewer things to worry about. This is another step in that direction. You’ll get high-quality sheets and towels for your entire home at our discounted at-cost price, and your bills won’t need to be peppered with individual charges. Guests will enjoy comfortable, consistent experiences, and you won’t need to receive calls and emails from us for every linen and towel that needs replacing. What comes in a linen set? • One fitted sheet • One flat sheet • Two pillowcases There will be two sheet sets purchased for each bed in your home upon setup. Each year following, one new set of sheets for each bed is purchased. You will be billed annually in July for the new set(s). Do linen prices vary based on bed sizes? Yes. • Twin: $12.90 • Queen/Full: $19.05 • King: $24.87 These prices are subject to change once every 12 months based on the market value of materials. How does the program handle towels? • Per pack: (1 each) Bath towel, hand towel, and washcloth: $5.51 • Flat fee: (covers cost of bathmats and disposable nature of washcloths): $10 A towel pack (which includes a bath towel, a hand towel, and a washcloth) is $5.51. The number of packs purchased for your home upon setup will equal twice the maximum occupancy. Each year following, we will replace half of those (so if your home accommodates six people, you would be billed for 12 sets upon setup and only six sets each July thereafter). You will also be assessed a $10 flat fee upon setup and upon renewal each July. This covers initial bathmats, and replacement of any bathmats and washcloths that year. Any additional towels needing to be replaced throughout the year will be covered by Vacasa. visit vacasa.com 877.562.3105 | [email protected] 7 Operations Standardized Linen Program (Continued) Why is this better than purchasing and replacing all the sheets and towels myself? By purchasing in bulk, Vacasa is able to secure massive discounts for high-grade commercial hospitality linens (200 threads per inch, 60% cotton and 40% polyester). These sheets strike a perfect balance between softness and durability. The same applies for our luxury hotel-quality towels. So how much is it? Your final cost to enroll in the linens program will depend on two factors: the number of beds in your home and the maximum occupancy. As noted, you’ll start with two sets of sheets for all of the beds in your home. Each year, one new set of sheets for each bed is purchased, along with a fresh set of towels. You will be billed annually in July for the new set(s). So say your home has two twin beds, one queen bed, and a max occupancy of four. Your setup cost would be $143.78, the cost of four sets of twin sheets, two sets of queen sheets, eight sets of towels, plus the $10 annual bath mat and washcloth replacement fee. Vacasa will cover any sheet replacements due to stains or wear and tear, so after the initial setup, you would only be charged ($76.89, in this example) once a year in July for one new set of sheets for each bed, a new set of towels for each occupant, and the $10 annual fee. Sounds great! How do I join? Vacasa has begun enrolling new homeowners in this program by default, so no action is required on your part. As with most things, you can just sit back, relax, and let us do the work! However, we also want to accommodate your unique needs. If you don’t wish to take part in this program, you can reach out to your Local Operation Manager to opt out. Hot Tubs As a vacation rental homeowner, you know that hot tubs attract more guests and help you earn better reviews. But it’s also a lot of work to maintain a hot tub. That’s why Vacasa offers complete hot tub maintenance to make sure your spa is always spotless and guest-ready. Here’s why you should consider opting-in to our hot tub maintenance program: It’s more convenient for you: Instead of waiting to fit into a contractor’s schedule, Vacasa builds hot tub maintenance around your existing housekeeping schedule. This creates a seamless experience, which means less hassle for you. It’s cheaper in the end: Not only does consistent maintenance make the most of your hot tub as an addition to your revenue stream, but our comprehensive program ensures it’s cost-effective for you. When you consider the preventative maintenance, included hot tub kits, and streamlined scheduling, it’s worth it to take the best care of one of your rental’s prime features. We offer high-quality maintenance: Vacasa offers preventative maintenance for your hot tub, including cleaning chemicals, a hot tub vacuum, and bi-monthly servicing to keep your spa in tip-top shape. We always ensure hot tubs have proper chlorine and pH levels, plus we make sure hot tubs are drained and filled once a month and as necessary in between. We keep guests happy: From smelling fresh to looking visually appealing, we know the importance of creating a good impression—meaning more bookings and increased revenue for you. visit vacasa.com 877.562.3105 | [email protected] 8 Operations Lodging Taxes & Permits Vacasa will collect applicable taxes from guests, file sales and lodging tax returns, and make all sales and lodging tax payments. Required Permits: Depending on your location, your home may require various city or county permits in order to operate as a vacation rental. We will work with you and the proper entity to apply for and track any necessary permits. For further information, please speak with your local manager. Please note that not all homes require permits, and that you are responsible for the cost of any permits. visit vacasa.com 877.562.3105 | [email protected] 9 Maintenance Reliable, trustworthy contractors are essential to handling home upkeep and maintenance. To ensure that all maintenance is handled professionally in a cost-efficient manner, Vacasa has established a network of locally licensed, bonded, and insured contractors with whom we conduct our business. As we’ve grown, we’ve developed strong relationships with local service providers. These providers work with us directly to assist in the upkeep of our homes. We know whom to call, when, and how to work within an appropriate budget. Our local team of contractors includes handypersons, appliance technicians, electricians, hot tub repairpersons, plumbers, roofers, installation experts, carpenters, building contractors, and heating and cooling specialists. Owner Expensed Services the process. You can contact your LOM for details. We ask that owners cover the following expenses inherent in home maintenance: Sporadic Maintenance ✔ Snow removal ✔ Garbage service ✔ Electric ✔ Water & sewage ✔ Wireless internet ✔ Cable ✔ Yard maintenance If you have a preferred service provider, we are happy to contract with them; otherwise, we can arrange the services on your behalf. Services Through Vacasa We are more than happy to arrange and handle the billing for services on the owner’s behalf. Our invoicing department can work with our local managers to find appropriate service providers, schedule services, and handle billing and invoicing. In the case that you prefer us to manage these services, we can simply expense the services and deduct them from your monthly owner statement. For some common services (such as hot tub maintenance) Vacasa has established dedicated programs to streamline visit vacasa.com As we know, homes can require unexpected minor repairs. In the case of repairs, general maintenance is billed to the owner. Owner-expensed repairs include, but are not limited to, appliance replacement upon malfunction, electrical malfunctions, plumbing issues, and replacing items suffering from natural wear (furniture, vacuums, etc.). Essentially, owners are responsible for items required to maintain the overall safety and comfort of the home. Owners are not, however, responsible for expenses specific to each guest stay (consumable supplies, damage in the event of guest misuse, etc). While our reservationists thoroughly screen all potential guests, occasional damage is a rare but unfortunate reality. Vacasa has a strict policy around this, and will charge and collect repair or replacement costs from the guest when appropriate (more on this on the next page). Naturally, it’s in everyone’s best interests to ensure that your home remains suitable for guest use. If the condition of your property begins to negatively impact its performance, we may have to stop renting your home until those issues are addressed. A home that’s unsatisfactory to guests doesn’t generate revenue for anyone. 877.562.3105 | [email protected] 10 Maintenance Vacasa-Expensed Maintenance Expense Approvals As your management company, Vacasa is happy to absorb the costs for regular upkeep of the home, including but not limited to the following: changing lightbulbs, delivering Vacasa-expensed supplies, and appearance and protection of appliances. It is our intention to ensure the general comfort and safety of our guests in emergency situations. However, in nonurgent and non-emergency matters, expenses greater than $100 are brought to the owner's attention for prior approval. visit vacasa.com 877.562.3105 | [email protected] 11 Protecting Your Home Damages Our housekeepers are trained to notice and immediately report any damage that occurs during a guest stay. Procedure following discovery depends on the nature of the damage. Vacasa will arrange maintenance for small (yet time-sensitive) repairs that total less than $100 and deduct those costs from the monthly statement. We make sure to notify owners of any damage that occurs and communicate with you if necessary repairs cost more than $100. As noted above, Vacasa will charge the guest when they are clearly responsible for the damage. No Party Policy The maximum occupancy refers to the number of peoplewho are allowed to be on the property at any time, not just for the night. Guests are warned that parties at the home are not permitted. Both neighbors and local managers reserve the right to inform necessary authorities if there is a noise violation after 10 PM, or whatever time local ordinances state. Local managers are vigilant when discerning the difference between appropriate guest celebration and misuse of the premises. The maximum occupancy may only be exceeded on a case-by-case basis with the homeowner’s express permission. damage. This process makes it easy to address any issues with photo documentation. Upon booking, guests are required to pay for their reservation with a credit card, both for the security of the transaction and so that we have one on file in the event of necessary damage charges. Additionally, they are required to comply with a basic rental agreement outlining our policies, which is available to view on our website. Insurance Liability We want to protect the safety of your investment as much as we want to protect the safety of the guests who enjoy it. Our local managers will work with you personally to evaluate your home with a discerning eye and provide suggestions to prepare your home for guest use. So we can be certain that the homes we manage are adequately insured, we require all owners to present a declaration of their homeowners’ insurance for our records. We ask that all owners maintain a comprehensive liability insurance policy in a minimum amount of $500,000 that specifies Vacasa, LLC as an additional insured. In the case of rare and extraordinary events, we refer to your insurance policy, as it is intended to protect you from these unusual instances. Damage Deposit In order to maintain a simple booking process and to secure more bookings for each of our homes, we refrain from asking our guests for a damage deposit up front. Instead, our housekeepers conduct inspections between each guest stay to identify the party responsible for any visit vacasa.com 877.562.3105 | [email protected] 12 Guest Satisfaction Reviews Discounts After guest departure, we submit a survey to each of our guests to help gauge what aspects of our service were particularly enjoyed and where we can improve. Our survey asks guests to provide ratings for the following categories: In order to encourage bookings for your home, particularly during seasons of lower demand, we can occasionally offer guests a discount. ✔ Overall satisfaction ✔ Customer service ✔ Cleanliness ✔ Location ✔ Property condition We use insights from these surveys to increase future bookings and deliver a higher level of service to our guests. In addition to surveys, we encourage all guests to write a full review of their experiences. We post reviews on our website and encourage guests to post them on VRBO and other listing sites. Reviews are an essential part of our marketing strategy! People are much more likely to book stays in homes with superb reviews. We take our reviews very seriously. Our dedicated Reviews Manager works with our local management teams to develop suggestions for how to improve guest experiences. Keeping a close eye on guest experience helps us continually improve so that we can earn more revenue for every homeowner. For example, if a guest inquires about a booking within seven days of the reservation start date, it’s possible to offer a “last-minute discount” to help secure the booking. This discount amounts to 25% off the total cost of rent. Owners can opt out of these discounts at their discretion, though we encourage them as a sales tool. It is sometimes better to book homes at the last minute for a lesser amount rather than leave the home empty for those dates, producing no revenue. This is one of the ways we are able to keep our homes booked year-round. Cancellation Within 24 hours: Guests can cancel up to 24 hours after initially making a reservation without penalty. More than 30 days: If the reservation is more than 30 days away, guests can cancel with a 9% penalty charge. Within 30 days: If the reservation is within 30 days, we offer no refund unless the guest purchased trip protection (offered at the time of booking for an additional 6.95% of the reservation-cost). Owners are encouraged to keep a watchful eye on the latest reviews for their home. This is an easy way to gauge the strengths and weaknesses of your home from the guest perspective. From pointing out large items like worn furniture to small things like blackened pots and pans, reviews will help you keep up with guest impressions and expectations in real time. One of the most effective practices of our top-earning homeowners is jumping on easily addressed items such as these as promptly as possible. visit vacasa.com 877.562.3105 | [email protected] 13 Keeping Up With Your Home Using the Owner Portal Through Vacasa’s online owner portal, you have access to important information regarding your home. Shortly after your contract is signed and entered into our system, you will receive an email including a username and password to log in to your account. You may access the owner login page at owners.vacasa.com. If you wish to change your password, you can do so by choosing the “Change password” option once logged in. If you forget your password, you can simply click the “Forgot your password?” link on the login page. If you’re still having trouble, you can give us a call at 877-5623105 and we can help reset your login information. Once your owner hold has been placed, you can view or make changes to it under the “Upcoming Reservations” section. The owner portal allows you easy access to many aspects of your Vacasa account. Here, you can: • View contact information for your Local Operations Manager • Update ACH information • See existing guest reservations, including party name, number of guests, and more details • View, download, and print past owner statements Owner Holds Remember to use your vacation rental! For owners on a standard contract, you may block out dates yourself after logging in to your owner portal. If you are on a fixed-rent contract, you will have to reserve your home by emailing [email protected] with your check-in and checkout dates. Remember, it’s important to honor guests who have reserved and paid for time at the home. Be sure to always block dates when you think you may want to visit your home, even if it’s last-minute, so those dates show as unavailable to rent (you can always unblock them if you decide not to go). Please also indicate whether or not you would like to purchase the optional Vacasa clean. visit vacasa.com You can always remove a hold with no penalty if you decide against visiting your home on the chosen dates. Please contact your Local Operations Manager if you have other questions about blocking out dates. 877.562.3105 | [email protected] 14 Keeping Up With Your Home FAQ: Common questions we receive from owners regarding owner holds include: What is an owner clean? Following an owner hold, if you have selected “yes” to scheduling a clean after your stay, we will schedule one of our housekeepers to clean the home for the base housekeeping fee determined for the home. The “owner clean” fee will be billed to you and appear as a debit on your monthly statement. Can I clean the home myself? You have the option to clean the home yourself. If you do decide to clean after your stay, please know that preparing a home for guests involves a bit more attention than everyday straightening up. We ask that owners give the same level of attention our housekeepers give when cleaning. Please keep in mind the following: Can I schedule a hold for someone besides myself? Yes, you may reserve an owner hold for friends and family. Please respect the terms of your contract, though. If your guest would like to pay the housekeeping fee, then collect the payment directly from them. The owner clean for any owner hold will be billed directly to your statement. What time is check-out for an owner hold? If Vacasa is scheduled to clean your home and there are guests checking in that day, please comply with the 11AM checkout time. If you choose to clean the home yourself, please allow enough time to get the home ready for the guests’ arrival at 4 PM. In some cases, late check-out is possible. This will extend your check-out time from 11AM to 7PM. To inquire about late check-out, contact your Local Operations Manager or the Operations line. • Beds should look professionally made. • Dishes should be washed and put away. • Trash should be taken out. • Linens should be laundered, neatly folded, and put away. • Floors should be vacuumed. • All surfaces should be clean and smudge-free. • Supplies should be restocked. visit vacasa.com 877.562.3105 | [email protected] 15 Understanding Your Monthly Statement You can use the owner portal to view all of your past statements in one convenient location. Payment Your statement will be sent to you via email by the 10th of every month. It will include an itemized report of all reservations, income, and expenses completed in the previous month. The total proceeds will be disbursed shortly after you receive your statement. Direct Deposit payments (if you’ve enrolled) usually take 3-5 business days to appear in the account, while checks take 5-10 business days to arrive by mail. If you are on a fixed-rent contract, your payment will be sent by the last day of the month. At Vacasa, our goal is to simplify your life by managing every aspect of your vacation rental—all you need to do is sit back and collect your revenue at the end of the month. This owner statement overview covers the most common statement questions. Please contact your Local Operations Manager for further clarification, or if you have specific questions not covered below. visit vacasa.com 877.562.3105 | [email protected] 16 Understanding Your Monthly Statement Unit Summary The Reserve The Unit Summary displays your home’s monthly income and expenses. Net income from reservations for the month is recorded under Credit. The credit will reflect the dates of the stay and the last name of the guest. Reservations that bridge two months are credited as income for the month in which the reservation ends. For example, a reservation for June 30-July 4 will appear on the July statement and not on the June statement. By default, Vacasa establishes a reserve fund of $500 per home. You are free to modify your reserve at any time by logging into your owner page and adjusting the amount on the “Unit Reserve Balance” field. The reserve is displayed in the Balance column of the Unit Summary. Starting with your first statement, we will leave a balance of $500 in your unit account when we issue your monthly payment. This way any larger repairs that are needed have something to fall back on, and we don’t need to send you a bill. For example: If there was a deck repair needed totalling $800 and the proceeds for the month so far were only $300, $500 would be taken from the reserve to maintain a $0 balance rather than -$500. In subsequent months you would then see $500 deducted from your proceeds and applied to the reserve to bring it back to $500 (or whatever amount you’ve adjusted it to). Charges appear on the statement under Debit. Debits are usually from owner cleans, supplies, repairs, maintenance, or upkeep of the home’s amenities and utilities. Credits to your account from prior statements will appear as negative values in the Debit column. Owner Summary The Owner Summary consolidates the proceeds from the itemized Unit Summary (if we manage more than one home for you, then the total proceeds from all units will be displayed in the Owner Summary). The month’s proceeds are added to the overall balance which is accumulated from the previous month. If there is a negative balance, the month’s earnings will be added to reduce that negative balance. Any proceeds available will be disbursed. No proceeds will be sent if a negative balance remains. visit vacasa.com Tax Information Your statement also includes a year-to-date income summary table on the bottom of the statement. We will provide you with a complete 1099 for your tax purposes. Tax Information Your statement also includes a year-to-date income summary table on the bottom of the statement. We will provide you with a complete 1099 for your tax purposes. 877.562.3105 | [email protected] 17 Owner Support In order to deliver the best possible service to you as a homeowner, Vacasa employs a team of local experts: a Local Operations Manager who is familiar with all aspects of your home and a dedicated Housekeeping Team to make sure your home sparkles. Your LOM will always be your primary point of contact for questions, issues, and information. In the event of an emergency, you also have access to our Operations Department at 877-562-3105. This department is staffed from 24 hours a day, ready for any eventuality. You may also email your Local Operations Manager (or our main address, [email protected]) with non-urgent questions. If you have any questions about any of the information outlined in this guide, please contact your Local Operations Manager. We’re a fast-growing company, which means policies and procedures must evolve and adapt accordingly - sometimes multiple times a year! This guide was last updated November 2016. As such, please stay in touch with your Local Operations Manager to keep up-to-date on the latest information. We look forward to a successful partnership! Please save the above information as your backup contact number and email for Vacasa. While your Local Operations Manager will always be your primary line of contact on the ground, in the event they are unavailable or there’s an emergency, we will always be available to take care of you. visit vacasa.com 877.562.3105 | [email protected] 18
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