Host Palm Springs is the perfect choice for the homeowner that wants to help offset the cost of ownership. We can possibly be the right fit for the small investor interested in owning one property in Palm Springs that would be rented out full-time.
The City of Palm Springs allows for individual owners/some LLC's and Trusts to hold up to one vacation rental permit in the city. This affords those who plan to retire in Palm Springs or even those that just like to spend time in Palm Springs, the ability to buy a home now and rent the home out when they are not in the home.
We can discuss the individual circumstances that you face and what the possibilities can be based on your situation.
The market in Palm Springs is still solid for rental homes with more travelers than ever preferring to stay in homes that afford them the space to spread out, cook meals and stay together with friends and family. This has been happening in Palm Springs for generations. The City of Palm Springs understands the importance of the vacation rental economy to the overall economy, and has taken great care to craft workable regulation to see that they stay a part of Palm Springs for a long time to come. As of 2022, this ordinance has remained untouched and the number of vacation rental homes in Palm Springs has grown exponentially as investors and second home owners have entered the market. It is expected that the city will finally make changes to this ordinance in 2022/23 and it is possible that limits may be imposed on the number of rental homes allowed in the city. This is not assured, but possible.
Though markets are subject to corrections, and all sorts of unforeseen events can effect the markets, it is our belief that the short term rental market in Palm Springs in particular will remain strong for certain owners/buyers over the foreseeable future. We can discuss which owners/buyers we are speaking of with you once you contact us.
We are happy to discuss what the city might do and what we can do to help you navigate this process.
Terry Parmer and Jeffery Anderson have been operating Host Palm Springs for 10 years and have been in the hospitality business in one way or another for over 25 years each. We have recently added a third management position in Michael Markham and will have his extra set of hands, eyes and ears on our team. We have a unique understanding of both the needs of guests and owners of vacation rentals and bring our vast experience to you in the way of an elevated vacation rental experience for our guests, and a better overall management experience for our owners.
We do this by:
Handling everything for the owner from booking to exit which includes all guest interactions, dealings with the city of Palm Springs and light maintenance required to keep the house in rent-ready condition.
For the guest: a memorable experience starts from the moment they arrive with fresh flowers, chilled still and sparkling waters in the refrigerator, a completely clean house, pool and grounds, and clear and concise instructions and information to greet them providing a visual and written explanation of the property, among other things.
Delivering more to the bottom line for owners than our competition by keeping the unexpected costs to a minimum and the hidden costs to nonexistent. We pride ourselves in having set up a process for managing your business that allows owners to stock their own homes. Don't like the idea of being hit with the unknown costs of laundering linens offsite? The cost of buying toiletries and amenities supplied by the rental company (with their logos printed all over them)? Fear the cost of having to pay the rental company staff to change a few light bulbs? Relax, we've got your back. At Host, we understand that you need to have more control over these things and that is why we have an all inclusive management fee.
At Host we allow owners more control over their business by procuring an "Owner operated permit" for the home. Most rental companies are "Agencies" and lump all the homes they manage into a pool under one TOT permit with an "Agency permit" and bank all funds generated from the rentals of these homes. They then deduct their costs (as mentioned above, plus many more) and then send the remaining funds from the rental of the home each month to the home owner. At Host, you bank all of the funds from the rentals of your home. We then send you a statement each month for detailing the taxes you have collected, the cleaning fees, and our percentage plus any expenses that may incur, and you then transfer that to us. In a sense, you are acting as the Agency for your own home. We are partnering with you in the business of renting your home. This is how we see the relationship between owner and Host, as a partnership.
In this partnership, Host does all that is needed to keep the home running smoothly in regard the short term rental of the home, and the owner acts as the bank, delivers us a rent ready home to the standard set by Host and works to keep the home up to that standard with our help.
We believe strongly in honest and open communication. We work with a commitment and do not have a legal contract. We don't want to hold an owner to a contract that they would be unhappy with. We would not want to be held to one where we would be unable to provide our best product in either. Both parties are free to go at anytime, with a few housekeeping rules agreed to in advance.
We'd love to discuss more. Fill out this quick 'contact form' and we can email you to set up an appointment to meet in person or have a phone conversation. We are excited to chat with you about the possibilities!