Vacation Rental Management Company

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Executive Summary

Seaside Stays Management manages vacation and short-term rental homes for owners in our coastal town. We list the home, price it, welcome guests, coordinate cleaning and maintenance and send owners clear monthly statements. Owners want income from a vacation or second home but do not want to be on call, and guests want a clean, well-run place to stay. Many owners struggle with pricing, cleaning, guest messages and local rules. We will win owners by earning more for them than they could on their own, protecting their homes and being clear about money. Here is what our numbers show. We expect sales of about $51,300 in Year 1, growing to about $205,200 by Year 5 as we add more homes and a guest experience and turnover coordinator. We expect losses of about $20,600 in Year 1 and $29,700 in Year 2 while we build our customer base, then a profit from Year 3 (about $3,900), growing to about $40,700 by Year 5. We need $69,000 in total. That covers $15,000 in startup costs (laptops and smart lock kits, license and registration fees, insurance, software, management agreements and a website) and a cash cushion of about three months of bills. I am putting in $15,000 of my own money, and I am asking for $54,000. I will work from home and at the properties, so no office lease is needed on day one. I am Keisha Russell, the owner. These numbers are estimates based on the assumptions listed at the end of this plan, not promises.

Company Description

Seaside Stays Management will be a limited liability company (LLC) in Oklahoma, owned by Keisha Russell. We will work from my home office, with property visits and meetings at the homes. What we believe. Treat every home like our own, treat guests like friends, be clear about money and follow the rules. What we offer:
- Listing creation, photos and pricing. - Guest messaging and check-in, 24 hours a day. - Cleaning, laundry and restocking between stays. - Maintenance coordination and regular inspections. - Monthly owner statements and tax-ready reports. Licenses and insurance. Short-term rentals are regulated locally. Many cities and counties require a permit or registration for each rental, limit the number of days or the zones, and charge lodging taxes. In many states, managing property for others and collecting rent requires a real estate or property management license, or working under a licensed broker. Our town requires a permit for each short-term rental and charges a 10% lodging tax, and our state requires a license for managing rentals for others. We make sure every home is permitted before we list it, collect and pay lodging taxes as required, hold owner funds in a separate trust account, carry errors and omissions and general liability insurance and follow fair housing rules. Where things stand today. I have managed my own vacation rental for three years, I helped two neighbors list their homes and I will have a real estate license in place before opening.

Problem & Opportunity

Owners of vacation homes near us want rental income without the headaches. 1. Too much work. Messaging guests and arranging cleaning takes constant attention. 2. Pricing guesswork. Many owners leave money on the table by pricing wrong. 3. Rules and taxes. Permits and lodging taxes are confusing. 4. Damage and risk. Owners worry about guests and the home. How we know people want this. Four neighbors asked me to manage their homes, and a real estate agent said she would refer owners.

Products & Services

What we sell. 1. Management fees. We earn a percentage of each booking. Our plan assumes about 51,300 dollars in management fee income in Year 1 (about ten homes under management), growing to about 205,200 dollars a year by Year 5. Cleaning, supplies and maintenance are charged to owners, so they do not appear as a cost to us. Our prices. Management fee 20% of booking revenue. Cleaning fees paid by guests. Maintenance at cost plus 10%. How it works for the customer:
1. A free call with the owner to talk about the home, the goals and the local rules. 2. A signed management agreement, a permit check and a plan for photos, pricing and setup. 3. Guest bookings, messaging, check-in and cleaning, handled by us. 4. A monthly statement showing income, costs and our fee. Gross margin, explained. "Gross margin" is the share of each sale left after paying for materials and direct job costs. Our plan shows about 100% in Year 1. That money pays the owner and crew, vehicle costs, insurance and other bills.

Market Analysis

Who will hire us:
- Owners of vacation and second homes. - Investors who buy homes for short-term rental. - Owners who live far away or are too busy to manage. - Owners who want to try short-term rental and need help getting started. Where we will work. Homes in our coastal town and the surrounding area, especially three beach neighborhoods and two lake communities within 20 minutes of my home. Season. Short-term rentals are busiest in summer and holidays, and slower in the off-season. We plan owner statements and maintenance around the seasons, and use slow months to find new homes. Our plan is careful on purpose. About ten homes in Year 1 is a portfolio one manager can handle well, with a coordinator added in Year 2.

Competitive Landscape

Other choices customers have:
1. Larger management companies. Coastal Rentals Group (a made-up name) charges about 25% of bookings; known for size, but slow to respond to owners. 2. Owners managing their own rentals. Free, but time-consuming. 3. Real estate agents who manage a few homes. Convenient, but not their main business. How we will win customers: strong earnings for owners, careful home care, clear statements, fast guest service and good reviews.

Marketing & Sales Strategy

How people will find us. - A simple website for owners, with a calculator showing what a home could earn. - Relationships with real estate agents, property managers and local attorneys. - Strong listings that attract guests and show owners what we can do. - Asking every happy owner for a review and a referral. - Local owner meetups and a monthly email with tips. Marketing budget. About $6,000 a year for marketing to owners. The brand, website and photos are paid for from startup costs.

Operations Plan

How the business runs day to day. Homes and guests. The owner handles owner relationships, pricing, guest messages and cleaning schedules. In Year 1 the owner works alone, with cleaning and maintenance vendors. We add one guest experience and turnover coordinator in Year 2 and grow to two by Year 5. Each home has an agreement, a permit file, a house manual, a cleaning checklist and a record of inspections. Equipment. About $5,000 to start: laptops and phones; smart lock starter kits and test devices; inspection tools and camera; key box and key system; printer. We set aside about $1,500 to $2,000 a year for repairs and replacements. Upkeep. Property files and inspection records kept current, vendors vetted regularly and software updated. Safety. Careful guest screening, safe handling of keys and smart locks, working smoke and carbon monoxide detectors in every home, emergency plans and safe handling of owner funds in a trust account. Running costs in Year 1: channel management software about $6,000, cleaning coordination and admin about $14,000, marketing to owners about $6,000. Scheduling and billing. Vacation rental software that handles listings, guest messages, bookings and owner payouts.

Management & Organization

Who runs the business. Keisha Russell, owner. As owner I will manage homes, price and list them, respond to guests, schedule cleaning, communicate with owners and handle the money side of the business. I plan to pay myself $38,000 a year in salary in Year 1. Crew. Guest experience and turnover coordinators at about $38,000 a year each (or part-time pay): none in Year 1, one in Year 2, one in Year 3, two in Year 4 and two in Year 5. People who will help us: a bookkeeper or tax preparer, an insurance agent, and a free mentor from SCORE or the Small Business Development Center (SBDC). Eric Ramirez serves as a key volunteer advisor.

Milestones Narrative

Our goals and when we plan to reach them. - Before starting: get the license or broker agreement, check permits, set up the trust account and insurance, build the website and sign the first owners. Target start: March 2027, before the summer season. - First year: manage about ten homes and earn about 51,300 dollars in management fees, for about $51,300 in sales. - Year 2: add a guest experience and turnover coordinator, about $81,500 in sales, and a loss of about $29,700. - Years 3 to 5: grow to two guest experience and turnover coordinators and about $205,200 in sales by Year 5. Growth depends on hiring good people and winning the work, so treat the later years as goals, not promises. What we check every week: bookings, occupancy, guest messages, cleaning turnovers, owner statements, and cash in the bank.

Funding Request

How much we need and how we will use it. Total needed: $69,000. This number comes from the Funding Need Calculator in this plan. It adds up: - Startup costs of $15,000, listed item by item in the Startup Costs section (about $5,000 for laptops, smart lock kits, inspection tools and a key system, $1,000 for opening guest items and linens, $2,000 for license and short-term rental registration fees, $3,300 for insurance and software setup, $1,200 for management agreements and legal review, and $2,500 for the brand, website and photos). - A cash cushion of about $54,000: the deepest cash dip in the early months plus about three months of bills, so slow weeks do not put the business at risk. Lenders call this "working capital." - Together that comes to about $69,000 (rounded up to the nearest $500), which is the total we are planning for. Where the money comes from: - My own money: $15,000. - Amount requested: $54,000. Kind of funding we are looking for: an SBA 7(a) loan through a local bank or community lender. How we will pay it back. We expect losses of about $20,600 in Year 1 and $29,700 in Year 2 while we build our customer base, then a profit from Year 3 (about $3,900), growing to about $40,700 by Year 5. With this funding, the business has money in the bank every year of the plan. The loan is planned at 12.75% interest over 10 years, the most the SBA allows for a loan this size, so payments of about $798 a month are already included in our cash flow. What we are offering the lender: my personal guarantee and my equipment A smaller first step, if needed. If we cannot raise the full amount right away, we can start smaller and grow into this plan: - Phase 1: start by managing a home for a friend or relative, or working under a licensed broker, while keeping your current job. Startup can be under $1,500. - Phase 2: once you manage a few homes well, set up the trust account, software and website and follow this plan. To plan the smaller start, make a copy of this plan (use Duplicate) and lower the numbers to match. All numbers in this plan are estimates. We will update them as real results come in.

Appendix Notes

Documents to attach before you send this plan:

- Your resume (one page is fine) and any licenses or certificates. - A personal financial statement (a list of what you own and what you owe; lenders usually provide a form). - Business registration papers and your EIN (your business tax number from the IRS, free at irs.gov). - Proof of insurance, or a quote. - Your real estate or property management license, or your broker agreement. - A sample management agreement and house manual. - A list of references and vendors, if you have them. If you don't have any of this yet, no worries - let's continue. The assumptions behind our numbers (change them in the Financials section to match your own):
- Management fees: about 51,300 dollars of fee income in Year 1 (about ten homes under management), growing to about 205,200 dollars a year by Year 5. We have no direct costs on fee income, since cleaning and supplies are charged to owners. - Owner salary: $38,000 a year. Crew: $38,000 a year each, from none in Year 1 to two in Year 5. - Other yearly costs in Year 1: channel management software about $6,000, cleaning coordination and admin about $14,000, marketing to owners about $6,000. - Tax rate: 21%. - Every dollar amount is an estimate. Replace them with your own quotes and research.

Startup Costs