Regarding The Member Rental Program
Q - How does the program work?
A - An agreement is signed for an initial one year term with 45 days’ notice of termination required after the expiration of the original one year agreement.
Q - Who rents property from Crescent Hospitality?
A - Renters consist of Property Owners and potential purchasers of Cliffs property who tour with a sales executive. Non-Property Owners are not permitted unless they are either a guest of a Member or of the sales team.
Q - Is there anyone Crescent Hospitality does not rent to?
A - It is unlawful to discriminate on the basis of race, color, religion, national origin, sex, familial status, or handicap. However, private clubs can restrict rental access to Members since Club membership is open to everyone.
Q - Does Crescent Hospitality manage short or long term rentals?
A - We welcome either short or long term rentals and can tailor the terms to fit the needs of our clients’ home construction timeline.
Q - What is the Crescent Hospitality management fee?
A - The Crescent Hospitality management fee for SC is 20% for long term rentals (over 89 days), and 40% of the gross monthly rent for short term rentals under 90 days. We require Owners to meet minimum standards and to perform specific preventative maintenance and deep cleaning at the owner's expense.
Q - What services does Crescent Hospitality provide for this fee?
A - For all rentals: Crescent Hospitality coordinates all reservations, provides a web-based booking platform and owner portal access, collects rent, manages housekeeping, maintains security deposits, promotes rentals through marketing efforts, coordinates trash removal for nightly guests (30 days or less), coordinates vendor services, provides commercial linen services, offers preventative and emergency maintenance response, provides monthly statements, and on call staff for guest/owner emergency services. Additionally, for short term rentals we collect and pay sales and accommodation taxes. Property Owners in the rental program are also entitled to concierge services when staying in their home; including grocery delivery services (minimum notice required), dining reservations, local area information, occasion services, and more.
Q - What is the range of rental charges?
A - Presently Crescent Hospitality rents homes ranging between $275 and $675 per night. Overall property value, size, number of bedrooms and quality of furnishings and decorations generally determine rates.
Q - How many homes are in the program?
A - There are currently approximately 47 properties in the rental program.
Q - How often will my home rent?
A - We are unable to predict or guarantee future rentals. Historically, the average home in our program has rented at an occupancy rate falling between 17% and 30% of the year.
Q – What is the setup required to enter the Residential Rental Program?
A – In addition to the housewares requirements listed in the contract exhibit H, a professional slideshow is required for marketing purposes, and an initial purchase of 3 complete sets of bed and bath linens to go into the rental linen pool. This ensures a set of linens are available in the home, on the shelf for cleaning, and at commercial laundry services at any given time.
Q - How is emergency maintenance handled?
A - Maintenance staff will respond to any emergency request to prevent further damage to your property. Routine items will be handled according to owner preference. The agreement authorized Crescent Hospitality to make repairs up to $250 without approval - unless immediate action is required to avoid significant damage.
Q - How are damages, cleaning and tax collection handled?
A - Crescent Hospitality collects and pays all sales and accommodation taxes. Renters are charged a cleaning fee for each reservation. Owner cleaning fees are deducted from rental revenues on their monthly statement.
Beginning in 2014 we now carry Damage Protection insurance that is required by all group reservations and non-member guests. The insurance covers up to $3,000 in any damages whether they are intentional or accidental. This insurance is optional for any member reservation.
Q - Are monthly and annual statements provided?
A – The Owner’s portal in the reservations system will be where the statements are available for printing by the owner. Owners are provided a login and emailed each month when their statements are ready in the system. Annual statements can also be accessed through the owner portal.
Q- What is the procedure for reserving our house for personal use?
A – Short term reservations are made online through the Owner Portal. Owners can reserve their home as often as desired. However, reservations are made on a first come, first served basis. Once Booked, dates that are already reserved by clients cannot be cancelled for owner use without consent of the confirmed guest.
Q- How often can I reserve my home and can I host guests under an owner reservation?
A – There are currently no restrictions on the number of owner reservations allowable in a calendar year, although it is important to note that frequent owner stays reduce the revenue potential of the property. In the absence of guest rental activity in a given month due to owner occupancy, a standard management fee would be assessed to the owner statement. Frequent owner use requires a reserve of funds on the owner account to ensure the account does not reach a negative balance in the absence of rental activity.
Q - What is your policy on selling a house in the rental program?
A - The home that is listed for sale will only be booked by phone through our reservations team and cannot be made available for online booking. Listed property can be reserved up to 45 days in advance. If a signed agreement is made between the listing agent and Crescent Hospitality, the house would then be available for reservations 90 days in advance per the ‘For Sale Addendum’ to the Management Agreement. It is required by law that the buyer be provided information about the management contract in the initial property disclosure form. The management company is obligated to provide a list of confirmed reservations to all parties upon request. It is also required by all parties involved in the real estate transaction to honor 90 days of rental activity from the time of deed transfer in compliance with the SC Vacation Rental Act. Crescent Hospitality will make every effort to accommodate the needs of the seller, buyer, and the confirmed guests through the transition of ownership. The new owner will be set up to receive funds from rental activity that occurs after the ownership transfer is complete.
Q - What are the policies pertaining to pets, smoking and use of the fireplaces?
A - Crescent Hospitality does not allow pets or smoking in the managed homes. Any deviation from this policy is strictly at the discretion for the owner. Gas fireplaces are available and if assistance is required, Crescent Hospitality will provide assistance.
We appreciate your interest, and hope to be of further service.
Please contact the Property Manager for more information:
Property Manager in Charge