RENTAL INCOME

Quoting Rental Income - Timeline

Owners will receive their income in the month following their reservation.

BEFORE the ‘Month is Closed’ email: (Approx. the 8th of the following month)

YOU CANNOT: Quote Expected Income
- Rentals are subject to change
- Outside 14 days, guests can change dates, upgrade, cancel, etc.
- Inside 14 days, guests can still upgrade
YOU CAN: Quote Rental Status
- Just say “Commissionable” – do not specify which type of commission
- Okay to specify if rentals are BT

AFTER month is closed: Use Rental Income Report (next tab) (Approx the 18th of the following month)

PreferPay Emails Go Out And Rental Revenue Is Available For Our Owners – Approx. 22nd of the following month

Rental Revenue Checks/Direct Deposits Are Normally Issued 2 – 3 Days After The PreferPay Window Closes.

Rental Income Report

Once VRD sends an email that the month is closed, it is okay to quote the exact income using the Rental Income report

Un-select “Null” from the Owner user field.
Use the PRIMARY owner number from TSW, not the owner’s name.
Set your dates for the whole month that the rental space occurs.
View Report.
This report will list any HOA payment deductions, BGV commission, and Owner Commission.

You can only run for one month at a time. If quoting multiple rental times for an owner, you will need to run multiple times.

Prefer Pay

PreferPay: Gives owners the option to receive their rental income via direct deposit or check.

PreferPay emails will be sent around the 23rd of the month AFTER their rental takes place
- For example: June rentals will be invited to PreferPay around July 23
If no action is taken, owner will receive a check by default
Direct deposit: 2-4 business days
Check: 10-15 business days

Apply Income to HOAs

When requesting a rental contract, check the box that says ‘Apply revenue to HOA dues?

Add Rental Check Note to the primary owner file.
1. Select Option A, B, or C
  - A: Owner would like to apply ALL rental income for specific (Month/Year). Remaining balance kept as a credit.
  - B: Owner would like ALL rental income from specific (Month/Year). Remaining balance sent as a check to Owner
  - This Owner would like ALL FUTURE rental income to be applied to HOA. Remaining balance will be kept as a credit.

W-9

W-9: Tax form required for domestic owners utilizing our rental program.

To request W-9

Log in to owner’s Grand Central Account
Visit Rental Status page (Ownership->Rental Status)
Click Request W-9
1. Note: This will give you a pop-up to email VRD. VRD will email the W-9 to the owner.