Property Management Program Information - Margaret Rudd & Associates, Inc., REALTORS by OakIslandBeachesbyRudd

STRESS-FREE PROPERTY MANAGEMENT you can rely on

With over 40 years of experience in rental management, we are well known for the quality of properties we represent & our pairing of exceptional customer service with a dedication to strong professional ethics & integrity. Let us provide you with the "hands down" best property management experience of your life while maximizing the rental income of your investment.

ABOUT US

A long-standing small business with a big reputation

Margaret Rudd & Associates, Inc., REALTORS ("MRA") is a 2nd generation, family owned & operated business & the premier real estate brokerage & property management firm in Brunswick County, North Carolina. Our story is one of local knowledge, personalized service & the highest ethical standards. We have served generations of families for over 40 years, building a company one referral at a time. The sales arm of the business recently announced its nominations for the Leading Real Estate Companies of the World ("LeadingRE") 2020 Award of Excellence in both the outgoing sales production & referral categories while the property management team was named Best Rental Agency for the 3rd year in a row by Southport Magazine & its readers. The recognition doesn't end there. Along with blazing a few trails, the agency has seen many notable accolades highlighting its unparalleled service & standards of performance. Among its leadership & staff, you'll find past & current presidents, directors, committee members & board members of the Brunswick County Association of REALTORS, the North Carolina Association of REALTORS, the Brunswick County Tourism Development Authority, the Vacation Rental Management Association, the NC Vacation Rental Managers Association & the Southport-Oak Island Area Chamber of Commerce. From collecting toys for the Toys for Tots program in the winter to collecting non-perishable food left by vacation rental guests for area food banks in the summer, from supporting area restaurants by purchasing gift cards during the pandemic to raising funds for hurricane victims in other states, MRA ensures that philanthropy is a big piece of our "highly regarded reputation" puzzle. Going from humble beginnings to great success is a source of great pride for MRA, but we don't plan on stopping any time soon. No matter what the next 40 years look like, Margaret Rudd & all of her "associates" are confident that we'll set new records, surpass goals & have a whole lot of fun in the process. After all...

the Fun Starts Here

www.rudd.com | 800.486.5441

40 Years of Excellence in Service

10 REASONS WHY

Hiring MRA as your property management expert

MRA aims to provide the "hands down" best property management experience for its owners. Whether you are listing your property in our long term, annual lease program or adding your second home to our short term, vacation rental market, there are benefits to hiring our agency as your local, property management expert. As members of the Vacation Rental Management Association (VRMA) our management & staff undergo consistent training & professional development with concentrations in rental management & guest services.

Our goal is to make sure that your property is in front of anyone looking for a long term or vacation rental in the area. From a responsive website, to social media & email outreach, we combine top notch digital marketing with traditional print advertisements to drive traffic to your piece of paradise!

Our in-depth knowledge of the local rental market makes it easy for us to advise you on the appropriate rates for each season. Using our dynamic pricing structure allows us to maximize rental income during times of peak demand & to increase occupancy rates when demand is low.

Hurricanes & adverse weather come with life at the beach. MRA strives to minimize your worry during times of unrest. As your partner, we maintain high levels of communication, assist with storm preparations, check properties for safety & status after, & assist in coordinating any necessary repairs.

Our team is comprised of well-trained reservationists who help travelers in selecting the most suitable property for their needs & budgets. The care & concern of your rental guests & ensuring a pleasant & memorable stay during their time all but guarantees repeat renters year after year!

View your booking calendar, reserve the property for owner or owner guest use, create work orders & view monthly financial statements all within our easy-to-use Owner Access Portal. Even better? The Portal can be accessed with your desktop or laptop, tablet or mobile phone for on-the-go information.

So much more is involved in owning & managing a property. MRA will prepare agreements, hold security deposits, arrange for requested travel insurance, collect rents, handle state sales & local accommodations taxes, & much more!

Some management agencies limit the amount of time owners may use their own properties, we DON'T! Simply put, it's your home & you should be able to use it when you want. We encourage owners to use their investment any time of the year & we want you to take advantage of your property in every season!

Let us handle the not-so-fun aspects of keeping your property in tip-top condition. MRA offers numerous annual programs & services to help give your guests the best first impression. From housekeeping to maintenance, we aim to give you peace of mind when it comes to the condition of your home.

As a family owned & operated business, it's important that each of our owners & every guest feels like a part of the Rudd family. You aren't just a property to us. We strive to be your trusted property management advisor & partner, & to give you confidence that both you & your property are in the most capable hands.

www.rudd.com | 800.486.5441

The Fun Starts Here

PROGRAMS & SERVICES

Saving owners time & money with stress-free management

We listen & we hear our property owners. In addition to dynamically pricing your properties to maximize both your income & your occupancy numbers, MRA further serves you by providing economical programs & services in the management & marketing of your home on an annual, pre-determined basis. These valuable programs eliminate some of the stress involved in owning an investment property while also freeing up time for you to enjoy your home away from home with your family & friends.

www.rudd.com | 800.486.5441

Value in MRA Management

THE SPECIFICS

Additional details on how we save you time & stress

Sure, the graphic was pretty, but the information was very general. Here, we break down how each program specifically serves the needs of our property owners. For additional information on each program, or a general idea of the cost associated, do not hesitate to reach out to the office by phone call to (800) 486-5441 or email to information@rudd.com.

We analyze real-time pricing data, taking into account supply & demand, special events, desirability for property type, etc. to dynamically price your property for maximized income & occupancy.

MRA will coordinate either a Full Winterization or an Outside Water Shut-Off for your property during the coldest months of the year. Owners may also decline the service altogether & handle their own winterization.

This additional resource provides guests with a level-bylevel, room-by-room view of your property as well as high quality professional images & a dedicated TruPlace webpage with proven booking results.

Between mid-April & mid-October, MRA will coordinate a 2week rotational lawn cutting service for your property to keep your lawn in tip-top shape!

Do you prefer to receive your monthly rental earnings electronically versus a mailed check? Not a problem, simply provide a $10 set-up fee & a voided check & you're all set!

During the off season, MRA will check to ensure that all lamps, ceiling fans, & ceiling light fixtures are operational with LED bulbs for increased energy efficiency.

Let MRA change the air filters in your property seasonally (typically May through September) or year round to improve air flow & extend the life of your HVAC system.

If you're planning to offer a pet-friendly property, add this service to your "must do" list! MRA will coordinate the cleaning of carpets & upholstery per your request. Not pet-friendly? It's still a GREAT service to consider!

MRA will contact local HVAC companies for quotes on completing an HVAC inspection. If the cost is approved, MRA then schedules the service & any necessary repairs discovered during the inspection.

Wow your rental guests. Set your property up for success with a thorough deep clean & inventory of your home. Our Housekeeping Department will coordinate & inspect your spring clean prior to prime season.

In the spring, owners may opt to have MRA check all smoke detectors & fire extinguishers to ensure that they are operational & up-to-date, replacing &/or updating as necessary.

Our Fall (mini) Deep Clean Service provides an additional benefit to owners, specifically those with high occupancy &/or pet-friendly properties. A less involved version of the Spring Deep Clean, the Fall Deep Clean will help maintain your property during the home stretch of the year.

www.rudd.com | 800.486.5441

Value in MRA Management

MANAGEMENT 101 MRA Property Management FAQs

Here, we answer some of the most frequently asked questions we receive from potential clients.

A: All property management agreements are signed for a period of 12 months. Agreements automatically renew at the end of the 12-month period unless either party provides written notice of its desire to terminate the agreement at least 90 days prior to the conclusion of the rental term.

A: Each month a statement showing rental income, incurred expenses, commissions & payments made to the owner are provided in the Owner Portal. All rental income is delivered at the same time as your monthly statement via check or direct deposit. We make every effort to upload your monthly statement to the Owner Portal by the 10th of each month or mail it by the 7th of each month. A $100 balance is maintained in each owner's account to cover emergency or necessary repairs. A 1099-Miscellaneous Tax Form is provided to owners at the end of each year with the details of your gross rental income. Any tenant reimbursements (such as for a phone bill overage), will be included as income on your property. When an individual name is used on a check, the owner must provide a Social Security Number. If the property is held in a company name, the TIN must be provided.

A: Each month, a percentage of the gross rental proceeds are collected at the following rates: - 12% for monthly rentals, - 18% for weekly rentals, &/or - 20% for rentals less than a week (2-night min)

www.rudd.com | 800.486.5441

Nightly Rentals: Nightly rentals, or rentals that are less than a week, are a great way to generate revenue during any season. As an agency, we require a 2-night minimum.

Monthly Rentals: The opportunity to rent your

property on a monthly basis between the months of October & April is another way to generate revenue. We see an influx of retirees, & others we lovingly refer to as "snowbirds" during that time.

A: Our resort rental season is broken into 7 seasons: January to mid-April Mid-April to mid-May Mid-May to mid-June - Low Prime Season Mid-June to mid-August - High Prime Season Mid-August mid-September - Low Prime Season Mid-September to mid-October Mid-October through December

A: It's always fun to ride down the beach to look at all of the fun property names. MRA requires that each home be named while condominiums are named by complex name & unit number. We highly suggest getting creative when naming your property as it can be an additional way of marketing your property.

Frequently Asked Questions

CANCELLATIONS 101

MRA's "No Penalty" time frame & other cancellation details

Cancellations can be a major sticking point when it comes to vacation rental properties. The state has specific rules & regulations which dictate when owners & their professional management agencies must refund guest cancellations with much of the decision relying on whether or not a guest purchases an optional travel insurance plan (which we offer) & the reason for cancellation. To clear the fog, we detail MRA's standard cancellation policy. In all of our years of managing vacation rental properties, we have found that providing guest flexibility when it comes to booking &/or cancelling reservations is paramount in maintaining a high level of guest retention. We not only offer guests the option to add a Travel Insurance Plan to safeguard their vacation investment, we also offer a "No Penalty" time frame under which guests are free to make contractual changes & their 1st payment or cancel without penalty. Travel Insurance Plan This optional plan provides a wide array of coverage for guests including, but not limited to, trip cancellation, trip interruption, travel delay, emergency assistance & transportation, etc. For a very small percentage of the total reservation cost, a guest can opt-in to the plan at booking or any point up until the final payment is made. No Penalty Time Frame The No Penalty time frame begins on a guest's contract booking date & is applied based upon the time frame between the contract booking date & the guest's arrival date. If the booking date is more than 31 days in advance of the arrival date, the No Penalty time frame is 10 days; If the booking date is less than 30 days but more than 10 days in advance of the arrival date, the No Penalty time frame is 3 days; &, If the booking date is less than 10 days in advance of the arrival date, the No Penalty time frame does not apply. Cancellations Outside of the No Penalty Time Frame MRA's cancellation policy reads, "If a reservation is cancelled for any reason,

money paid will not be refunded unless the property is re-rented for the same time period. Once sufficient payment is received from the new tenant, the advance rent less a $75 cancellation fee, travel insurance premium (if purchased), and any discount offered to secure a re-booking will be refunded. Advance rents cannot be transferred to another property. If the property is not re-rented, tenant will not be entitled to a refund of any rent payment." Some alternative situations apply for guests being entitled to a refund of rent payments: Travel insurance: Tenants who opted to purchase the optional plan may receive a refund on cancellations for covered events/risks within the policy & the in-ability to re-rent the property. It is the tenant's responsibility to file a claim. (Example: If a hurricane causes a

mandatory evacuation of the island, a guest would file a claim in order to recoup their reservation costs.)

Rental restrictions: In circumstances where the Town has imposed a rental restriction, meaning we cannot conduct short term rentals, we HAVE to refund guest money as rental restrictions by government agencies is not a covered risk under the optional travel insurance.

(Example: At the on-set of the pandemic, the Town imposed a short term rental restriction meaning we could not provide access to rental homes for our vacationers & we HAD to refund guests.) Property owner decision: MRA homeowners may always decide to refund a guest if he/she so chooses.

www.rudd.com | 800.486.5441

Cancellations & Refunds

NEWS YOU CAN USE

The Fun Starts Here

Exciting things are happening at Margaret Rudd

A big part of providing you with the "hands down" best property management experience is fusing our local area expertise with the latest industry trends & technology. From the way interested vacationers find your property to ordering local produce for their families during their stay - we aim to make every aspect of the process as stress-free as possible.

SECURITY IN THE NEW NORMAL

With recent events & the knowledge that smart homes & automated security systems are the way of the vacation rental industry future, Margaret Rudd & Associates made the very important decision to partner with PointCentral to provide keyless entry locks on our vacation rental properties. READ MORE ABOUT THE BENEFITS OF KEYLESS ACCESS ENTRY ON OUR BLOG: https://www.rudd.com/blog/key-successmay-be-going-keyless

THE FUTURE IS DIGITAL

AWARD WINNING AGENCY

Key Stats:

"As a local small business with strong community ties to an agriculturally-rich area it is important for MRA to promote equitable development through tourism and sustainable agriculture practices. Our participation with the VSA program is an easy way to support area farmers and fishers while providing an extremely valuable and convenient resource for our vacation rental guests."

60% increase in website bookings 72% increase in organic traffic to site 67% increase in email marketing traffic 56% increase in traffic from paid search 4.5 million impressions on Google 40+ first page rankings TO LEARN MORE ABOUT OUR SUCCESSFUL DIGITAL MARKETING EFFORTS, PLEASE REQUEST OUR INFORMATIVE BROCHURE

Email: information@rudd.com

www.rudd.com | 800.486.5441