Frequently Asked Questions
How does Opulence work?
Opulence is a short term rental management company that offers full service management! We handle it all, including:
24/7 guest support
24/7 on-the-ground guest assistance
hiring and managing local vetted cleaners and contractors
marketing on your home on Airbnb, VRBO, Booking.com, and on our direct booking website
ensuring your home is priced well by running a comparison analysis to the homes that are similar to yours in your area
we can get your home 100% ready for short term rentals by designing it, furnishing it, and stocking the home with up all short term rental essentials for an additional fee
What is full service management?
Full service management essentially means that we literally take care of EVERYTHING! We handle communication with guests, cleaners, maintenance, contractors, filing insurance claims for damage insurance, 2am toilet clogs, even lawn care! We'll even completely set up your home for you so that it's ready for short term rentals (for an additional fee).
What are your fees?
We have pricing packages from 10% to 20% of the nightly rate, depending on your needs. For the 15% to 20% options, we pay for the cleanings and therefore keep the cleaning fees. Check out the page titled "Pricing" for a breakdown of what each package offers!
do we divide the bills?
We have owners pay for all utility bills, while we pay for the cleaners (should you opt for the 15%-20% pricing) as well as the contractors when they are fixing damages caused by guests (should you opt for the 20% pricing).
CAN I VISIT MY HOME WHEN I NEED TO?
Of course! It's your home--all you'll have to do is tell us what dates you'd like to visit and we'll block the calendar for you!
Do I have to sign a long term contract?
We feel confident that you'll love our services and want to stick with us! However, we won't tie you down! You can cancel your Opulence agreement at any time, with a 180 day notice. We’ll just need to honor any reservations that are already booked at your home for that 180-day window.
WHO PAYS FOR FURNITURE AND SUPPLIES?
We ask that the owner pay for furniture, decor, and supplies, but on average, our clients can make their investment back within 4-6 months. We offer to choose and assemble furniture and decor, and completely set up your home for you for an additional fee. For more info on this, click on the "Extra Services" tab.
Where will you market my property? Airbnb?
Yep! We'll list your home on Airbnb, VRBO, Booking.com, and our direct booking site. If we can only accommodate mid-term bookings in your home, then we'd also use Zillow, Furnished Finders, and more.
Does Airbnb and VRBO charge us to use their platform?
Yep! Airbnb charges 3% per booking, while VRBO charges us 8%. We'd split the gross income of the nightly rate that's left after they deduct the fees from our payout. Booking.com charges 15%. Opulence charges the guest 15% and pays Booking.com's fee.
Does opulence offer management services near me?
Yep! We offer our services nationwide! Our team works 100% remotely and hires local cleaners and contractors. Before managing your home, we'd hire a cleaner and backup cleaner as well as create an excel sheet full of vetted contractors so that we're fully prepared to get started! We currently manage homes in several different states and many cities, so we are fully capable of managing your location. We also pay an inspector to view the home in person in order to inspect the cleaner’s work as well ensure that the cleaner is reporting any and all damages.
how do you pay me my cut, and when would I receive it?
We'll pay you via ACH once the guests check-out. We wait until they check-out before sending a payment in case refunds need to be issued to them during their stay. After we send the payment, it would be deposited in your account within 5-7 business days.
how do I know if my home is a good fit for opulence?
We accept homes of any general type and size. However, we do require that your home be free of all cosmetic imperfections, and with all appliances and amenities in working order. In addition, if your home is in an HOA, the HOA must not have any short term rental restrictions. If you rent the home, and are looking to sublease, we require that you have permission from the management/landlord to sublease, with short term rentals also permitted. You must also have approval from the city and any licensing that may be required in your area.
Prior to our consultation, we confirm that your area is a good fit for the business model. Due to running a comparison analysis with the homes within a 5-10 mile radius of our properties, we price our property correctly and are able to consistently keep a 85-90%+ occupancy rate with our properties. Having over 1000 reviews on Airbnb helps us maintain this occupancy rate as well, because guests see that we have plenty of experience and provide high quality stays. We also send our clients (and hopefully you in the future!) our Guide to Setting up your Vacation Rental. It includes tips as well as what you should include in your property in order to improve ratings and set us up for success.
How do you know we'll receive enough bookings?
how can I see the bookings? who is the account holder of the listings?
In order to successfully manage our properties, Opulence is the account holder of the listings. However, you'd be able to view the following in our client portal:
✔️ booking in real time + occupancy
✔️ pricing for each booking
✔️the name and profile picture of each guest
We'll also send you a monthly report to show you a detailed breakdown of each guest and their payment. We keep everything transparent with our clients so that you can rest easy on how the business is going!
How do I get started?
To get started with Opulence, simply click the button below and fill out the form so that we can see if your home is a good fit. We'll contact you via email. If it is, we can have you up and running within 2 weeks if your home is ready to go!