Contents
1. Contact Information
2. Overview
3. Getting Started
4. From Your First Rental Forward
5. During the Off-Season

Contact Information
Main Marketing Websites - www.summitvacations.net, www.hocksnest.com, www.bestbrecklodging.com
Management Website - www.summitvacations.net/summit_management.php

Owner Designated Phone Line - Breckenridge, Colorado (970) 453-9016
Fax Line (970) 453-2715 - Colorado

Mailing Address – All Written Correspondence
102 Continental Court Suite C-15
Breckenridge, CO 80424

Shipping Address – Main Office
102 Continental Court, Suite C-15
Breckenridge, CO 80424

Owner Designated Email Address - owner@summitvacations.net
Guest Services Director - Breckenridge (970) 418-0918
Housekeeping Manager – Breckenridge (970) 418-2469

Overview
We at Summit Vacation Rentals view our business relationships with our owners as a partnership. To that end, we perceive our obligations as:

1. Maximizing rental revenue and minimizing costs for our owners by effectively marketing and renting their units.
2. Minimizing the physical impact that will certainly be caused by a large volume of guest rentals utilizing the unit.

Our primary responsibility is the maximization of rental income and minimization of costs for our owners. Our secondary responsibilities are to provide the best possible care for our owner’s units under the circumstances, and to provide our guests with the greatest value and best possible vacation experience within reason.

For these reasons, we ask our owners to understand that we do not consider it our responsibility to cater to our owners when they are occupying their units in Breckenridge or Frisco, as it only serves to detract from our efficiency as a business. If problems develop when our owners are in their units in Breckenridge or Frisco, we ask that they contact a repair professional, so that we may continue to dedicate our resources to further enhance our owners’ revenue potential.

Because our resources are minimal, we ask that our owners limit telephone calls to our office and field personnel to the off-season, unless it is an emergency. During the ski season, we ask that owners communicate with us via email, and please exercise patience, as we are very busy taking reservations.

We have one steadfast rule: we do not allow our owners to compete with us by renting their units and retaining the income. We spend a few hundred thousand dollars a year showcasing and marketing our owners’ properties on the Internet, and don’t believe it is ethical for owners to compete with us for rentals.

We do offer a cooperative marketing program, designed to give our owners increased exposure on the Internet. More information about this program can be found in a subsequent section of this manual titled “Supplemental Advertising”.
Getting Started

Contact Information
Our new owners must supply our Main Office with contact information, including:

• Names of owners
• Addresses
• Telephone numbers
• Email addresses
• Social Security number (for 1099 purposes)
• Unit address and telephone number
• Name of Property Management company handling unit complex
• B.O.L.T. license number (see below)

This information may be supplied by telephone using the owner designated phone line, or emailed using the owner designated email address.

B.O.L.T. License
All owners of short-term rental properties within the town limits of Breckenridge are required to obtain a BOLT license for the property. A fee must be paid to the town of Breckenridge, and the license number must be supplied to our Main Office. For information regarding this license, please contact the Breckenridge Town Clerk at (970) 453-3167.

Homeowner Association Fees
Owners are required to pay their HOA fees as due. We are unable to pay fees on behalf of our owners.

Utilities/Telephone Service
Owners are required to pay their utility bills and telephone service when due. We are unable to pay bills on behalf of our owners.

Keys
We require the following keys:
• 6 Entry keys for the unit
• Additional keys for lobby entrance or garage
• Additional keys for any locked closets containing water heater, boiler or electrical panel
• Codes for garage keypad, dumpster housing, clubhouse, swimming pool/hot tub, etc.

Lockbox
A push-button lockbox will be installed adjacent to the entry door of the unit with one entry key inside. The lockbox will be set on a secure interim combination whenever a guest is not staying in the unit. This interim code enables Summit Vacations to better safeguard our owner’s assets while the unit is vacant. The day of a guest/owner check-in, the Guest Services Director will change the lockbox code to the combination that has been previously provided to the guest/owner. Please do not ask us for the interim code, as we are unable to provide it. If access to the unit has not already been provided, our Guest Services Director will be happy to come to the unit and change the combination for our owners. If the owner has arranged access to the unit for contractors, appraisers, etc, we will provide the owner with our Vendor code prior to the date of access, and the combination will be changed to that code for the amount of time needed for access.

If the complex does not allow a lockbox to be installed, the guest is instructed to call our Guest Services Director when they arrive in order to get the keys.

Digital Photos/Unit Description/Pricing
Once the unit is set up and ready for rentals, we will be taking digital photos to create an individual Web page on our Web sites. Owners may provide digital photos. They must be JPEG format. We encourage owners to submit a creatively appealing, thorough description of the unit, utilizing the format shown on our Web site. We will determine appropriate pricing for advertising the rental of the unit in conjunction with owner input.

Cable Television, Internet Connection, DVD, VCR
We require each unit to have at least one television with cable programming. We also require the unit to contain at least one DVD/VCR player. Owners are welcome to provide as many additional electronics as they wish. We do not recommend dish-based television systems in the mountains of Breckenridge or Frisco.

Most guests now look for units providing high-speed Internet connections. If the unit complex provides access, we encourage owners to make it available in their unit.

Telephone
We require at least one working telephone in the unit. This is necessary for emergency situations. Please be sure that the service account has both a long-distance outgoing and collect-call incoming block on the line, to prevent guests from charging telephone calls to the account.

QWEST
(800) 244-1111
www.qwest.com

Humidifier
We require at least one portable humidifier in the unit for use by guests.

Outdoor Grills
If an owner provides a gas grill for guest use, they must also provide an additional full LP tank.

Kitchen Items
We require a toaster, microwave oven, dishes, pots and pans, eating and cooking utensils, some bakeware, coffee maker, tea kettle and drinking glasses. We also suggest the addition of a blender, crockpot, large pasta pot, mixer and turkey-size pan.

Hot Tub
If the unit has a private hot tub, please provide the main office with the hot tub maintenance company contact information. They should be servicing the tub weekly, based on guest arrivals and departures. They can view the online calendar to help determine when the tub should need servicing.

From Your First Rental Forward
Management Fees
Base Management Fee – 28%
- Management fee is applied to the rental amount before tax or cleaning fee.

Credit Card Fee – 3%
- Credit card fee is applied to the total cost of the guest reservation after tax and/or cleaning fee.

Cleaning Fee
- All Rentals: The cleaning fee is assessed to the guest.

If a guest stays 14 nights or more, there is a $25 additional fee per week for linen exchanges (we pick up the dirty linens and replace with clean ones).

Reading The Calendar
If a calendar date has a black background, regardless of the color of the foreground number, that night is reserved. The different colored foreground numbers have different meanings.

Both white and yellow numbers indicate guest reservations. The two colors are used only to differentiate between guests for arrival and departure. Red and green numbers signify an owner reservation. Green numbers indicate that Summit Vacations will be cleaning after the owner stay. Red numbers indicate that the owner has chosen to clean the unit.

Owner Reservations
We require 48 hours advance notice for all owner reservations.

All reservations for owners and non-paying friends/relatives must be made utilizing the Owner Reservation on the owner portion of the site located at www.summitvacations.net. When providing special discounted rates for friends/relatives, the reservation must be submitted using this form, and the friend/relative must then telephone the main office to go through the normal reservation process. Please provide the name of the guest, as well as the approved rate and specific dates. Please indicate whether the guest will be leaving a check (not cash) to cover the cleaning fee, or if you wish to be billed for cleaning. We do not allow friends of owners to perform cleaning. Once an owner reservation has been submitted, an email will be sent to the owner confirming the reservation. The online calendar will be updated, and the owner must check the calendar to confirm the dates are correct. Owners are responsible for providing keys and parking permits for any non-paying owner reservation. Summit Vacations does not have the resources to provide Guest Services for owner guests.

Check-in time is 4:00 pm. Check-out time is 10:00 am.

Owners must submit their dates with these times in mind. If arriving earlier than 4:00 pm or staying later than 10:00 am, additional nights must be reserved accordingly. This also applies to reservations for friends and relatives.

Owners may utilize their units for themselves/relatives/friends for two weeks during the ski season and four weeks during the off-season when requesting Summit Vacations to clean. If an owner uses their unit for more than this time, and requests Summit Vacations to clean, a premium will be applied to cleaning charges. Owners may use their units for unlimited time when cleaning it themselves.

Changing an Owner Reservation
To change dates or cleaning information for an owner reservation, please submit a new Reservation Request Form, reflecting the changes. We appreciate 48 hours notice when possible.

Owner Cleaning
If an owner chooses to clean their own condo upon leaving, we ask that owners use their own supplies and that Summit Vacations supplies are returned to their proper placement upon departure. There should be 2 rolls of toilet paper under each bathroom sink, as well as a roll on the dispenser; a bar of soap on each sink and in each bathtub/shower, as well as 2 extra bars under each sink; dishwashing liquid on the kitchen sink, at least 4 Electrasol dishwasher tablets and trash bags under the sink, 2 kitchen towels and a sponge on the kitchen counter, and a box of facial tissue in each bedroom and the living area. If supplies need to be replenished, or touch-up cleaning is required, a charge will reflected on the monthly statement.

Cleaning Guidelines
After a guest departure, our housekeeping crews perform a clean in the unit. The following items are included in a rental clean:
• Carpeted flooring – vacuum and spot cleaned as needed
• Vinyl/Tile flooring – swept and mopped
• Toilets – bowls cleaned and exterior wiped down
• Shower/Tub – tub, basin, soap holder, fixtures and surrounding tile cleaned and shower curtain placed inside tub
• Sinks/Countertops – sink, counter and fixtures cleaned and polished
• Mirrors – cleaned with glass cleaner
• Refrigerator – food removed and interior wiped down
• Stove/Oven – major spills cleaned, burners and tops cleaned, oven lined with foil (except Jenn-Air grill ovens)
• Microwave – food spills cleaned and wiped down
• Dishwasher – emptied
• Furniture – dusted as needed
• Beds – stripped of dirty linens and made up with clean linens
• Linens – dirty linens removed and clean linens distributed between bathrooms for total number of guests occupying unit
• Sofa Sleeper – extended to check for damage, trash and dirty linens; clean linens left in zippered plastic bag
• Electronics – dusted as needed
• Wood-Burning Fireplace – remove excess burned wood and ash

Any additional cleaning is performed during a deep clean, which is described in the Off Season section.

Items that Summit Vacations does not typically address during a rental clean:
• Organizing dishes and utensils in kitchen cabinets and drawers
• Checking bedroom and bathroom drawers for trash
• Cleaning under furniture and appliances
• Cleaning ovens

If a cleaning checklist and/or keys are found on the kitchen counter or dining table upon entering the unit, please notify our Housekeeping Manager to pick them up. Please do not discard the cleaning checklist or remove the keys.

Statements and Rental Income Checks
During ski season, Summit Vacations provides monthly statements and income checks. Statements/checks are targeted to be mailed on the 15th of the month following the month of the rentals (ie: Dec 15th check is for Nov 1 – 30 rentals).

During the off-season, Summit Vacations provides quarterly statements/checks. Owners receive a statement in August for rentals in May, June and July. Owners receive a statement in November for rentals in August, September and October.

Reading the Monthly Statement
Statement Ending - MM/DD/YY
Unit # - Owner Name

(1) These dates represent the current month only, with no carry overs.

(2) These nights represent the number of nights for each guest stay. The reservation could be a carryover from a prior month.

(3) This rate represents the rate charged to the guest. This rate will usually be the published rate or bid rate.

(4) The rental amount is the # of nights times the rate. The management fee is calculated based on the rental amount without taxes or cleaning fees paid by the guest.

(5) This is the tax paid by the guest, which is calculated by taking the rental amount times the lodging tax (10.55%).

(6) This amount represents the clean fee paid by the guest. The guest pays the clean fee when the reservation is less than 4 nights or a bid.

(7) This amount represents the total amount paid by the guest which includes the rental amount, tax and cleaning. The credit card fee is calculated using this amount.

(8) The credit card fee is paid by the owner and is calculated by taking the total paid by the guest times the credit card fee of 3%.

(9) The management fee is calculated by taking the rental amount times the management fee.

(10) The cleaning fee is paid by the owner when the reservation is for more than 3 nights and the guest did not pay the bid rate.

(11) The net amount is calculated by taking the rental amount less the credit card fee, less the management fee and less the cleaning fee paid by the owner.

Example A: 4 Night Reservation, where the owner pays the cleaning fee.
Example B: 3 Night Reservation, where the guest pays the cleaning fee.
Example C: 1 Week Reservation, where the owner pays the cleaning fee.


Tax Forms
Owners will be provided a 1099 form at the end of the calendar year. They will be mailed no later than January 31st. The 1099 will reflect the gross rental revenue from January 1 through December 31 of the current year.
Summit Vacations does not provide an annual summary of rental income/expenses. Owners are issued monthly statements and invoices, and annual summaries may be compiled from these. The statements contain all necessary information, including management fees, miscellaneous expenses, and credit card fee deductions for the federal tax form 1040, Schedule E.

Maintenance and Repairs
We attempt to be as fair as possible and limit the amount of maintenance/repair expenses our owners incur. Summit County is an expensive location to secure maintenance and repair work from professionals, when they are available. Summit Vacations will bill owners for maintenance/repair work at $35/hr, when we are able to handle it in-house. If Summit Vacations has to enlist any outside contractors, owners will be charged the contractors’ regular rates, which are typically $75/hr.

During the Off Season

When is the “Off” Season?
Ski season usually ends around the 2nd or 3rd week of April, and begins again in mid-November. May is considered mud season and is generally a slow travel time to Breckenridge. June, July and August are usually busy with summer vacations in Breckenridge. The least busy times are May, September, October and November.

Deep Cleaning and Carpet Cleaning
Every year, Summit Vacations requires that each property receive a deep clean and a carpet clean during the off season. These should be completed in the fall after summer reservations have slowed, but before ski season begins. During this period, we go through the units from top to bottom, repairing any replacing items that are needed to ensure the property is in the best condition possible for the upcoming year. During this time we also conduct a mandatory inventory of every unit, at a cost of $85 to the owner. This gives us a starting point from which to make recommendations for replacements or additions to the owner’s units. This way, the property is in the best condition for the upcoming ski season.

Owners may perform the deep clean and/or carpet clean in their unit. Summit Vacations provides these services for a fee.

Web Page Updates
Minor changes or corrections can be made to web pages any time during the year, but major changes and photo replacements should be submitted during the off-season. Changes may be submitted at owner@summitvacations.net. Photographs of the unit may be taken and emailed by owners. Photos must be in JPEG format.

Units Listed For Sale
Properties may be listed for sale during the off-season without problem. However, during the ski season, if a unit is listed for sale, it will be removed from our rental program, and all rentals will be moved to other units as soon as possible. Whereas most Realtors claim they will not interfere with guest stays in a unit that is listed for sale, we have found this to be horrendously false across the board. We have experienced unbelievable problems caused by Realtors in our properties, and feel we cannot put guests through these problems during the ski season