Vacation Rental Management in Sun Peaks
Sun Peaks Mountain Resort is recognized as one of the top ski resorts in Canada. Thousands of visitors embark on a weekend ski trip every year filling up the limited supply of accommodation on the mountain. The low supply of nightly accommodation and high demand from visitors has resulted in a very lucrative opportunity.
Many homeowners are turning their properties into Airbnb listings and passing the operations off to vacation rental management companies. Having a full-service Airbnb management company take care of your unit is an excellent way to generate bookings, manage the cleanings, and solve the nightly rental supply issue.
Benefits of Hiring Vacation Rental Management in Sun Peaks:
24/7 Guest Interaction
Professional Staging & Photography
Listing Creation & Optimization
Pricing Strategy & Optimization
Vacation Rental Market in Sun Peaks
The vacation rental market in Sun Peaks has been steadily growing for the last decade. Currently there are 429 active vacation rentals with an average occupancy of 58%. The average daily rate (ADR) is $361 per night. Most of the bookings are taking place during the winter ski season, which provides an excellent opportunity for additional revenue in the summer months. Sun Peaks Resort has been aggressively growing their summer attractions in an effort to develop a well-rounded destination.
In 2018, Sun Peaks Resort announced ambitious plans to invest in infrastructure improvements to further their initiatives to become the leading resort in BC. Currently, many of the projects announced have already been completed or are nearing completion. These improvements will have a huge pay-off over the next few years by attracting curious skiers and promoting year-round conferences.
Sun Peaks Vacation Rental Licencing and Zoning
The zoning and licensing requirements are very confusing in Sun Peaks. It is recommended you first consult with your property manager to help you through the process.
In general, short-term rentals are allowed provided they have a business license and meet a few criteria:
- Business Licence holder must provide a bond of $1,000
- The business license will be reviewed on the following criteria: a) proximity to the village, b) ski in/ ski out, c) on site manager
- Support of immediate neighbours
- Temporary Use Permit (TUP) - $1,500 valid for 3 years
The following properties have zoning that permits short-term rentals. Owners within these properties who carry out short-term rentals are required to obtain a Business Licence. Business Licences are required for tourist accommodation or CC1 zoned properties that do not have a full-time front desk service.
- Bridgegate (TA)
- Crystal Forest (TA)
- Echo Landing (TA)
- Fireside Lodge (CC1)
- Kookaburra Lodge (CC1)
- Settlers Crossing (TA)
- Snow Creek Village (TA)
- Stone’s Throw (TA)
- Timberline (TA)
- Trails Edge (TA)
- Trappers Landing (TA)
- Village Walk (CC1)
Who will manage the vacation rental property?
With heavy regulations on short term rentals in Sun Peaks it is advisable to partner with a vacation rental property management company to help you through the process. A credible property management company will work with you on getting your business license and ensuring you have your property set up for a successful launch.
There are several property management companies in Sun Peaks, but very few are willing to walk you through the process of becoming licensed. Lifty Life Hospitality has plenty of experience working with homeowners licencing their vacation rentals in markets all over British Columbia.
What is Full Service Vacation Rental Management?
When considering what vacation rental management company to partner, it is extremely important you understand what services they will provide and which ones they will not.
Typical Full-Service Vacation Rental Management Services:
- Guest Screening & Communication
- Professional Cleaning Services
- Professional Photography
- Listing Optimization
- Secure Key Exchanges
- Multi-Channel Distribution
- Repair & Maintenance Coordination
- Account Management
- Dynamic Pricing Optimization
- Post Departure Reviews
Partial-Service Vacation Rental Management Services:
- In-App Guest Communication
- Cleaning Coordination
- Account Management
How Much Does Vacation Rental Management Cost?
The cost of vacation rental management varies company by company. But conventional management companies typically charge between 35 - 50% of bookings.
New age management companies that distribute on channels like Airbnb, VRBO, and HomeAway are able to operate with a lesser cut. Typical Airbnb management companies charge 25 - 35% of each booking. It is not uncommon for these companies to also keep the cleaning fee, which is charged directly to the guest.
The benefits of hiring a management company far exceed the cost
How Much Revenue Can Vacation Rentals in Sun Peaks Generate?
Let's cut to the point, the golden question at the end of the day is how much do Sun Peaks vacation rental properties generate.
|Property Type||Estimated Annual Revenue|
|Studio||$29,000 - $36,000|
|One Bedroom||$31,000 - $37,000|
|Two Bedroom||$36,000 - $45,000|
|Three Bedroom||$50,000 - $59,000|
Lifty Life Hospitality is the leading vacation rental management company in Sun Peaks. We offer homeowners a full-service solution to their vacation rental management needs. Our experience in marketing short term rentals was founded on the top ski resorts in BC, so we understand exactly what it takes to compete.
If you want to learn more about the services we offer, feel free to contact us and we would be happy to help answer any of your questions!