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01.0.0 Reservations

Reservations Overview

There are 3 basic types of reservations in VRM: 
  1. Member/Guest Reservations (This in turn has three basic types):
    1. Short Term
    2. Seasonal
    3. Long Term
  2. Owner Reservations 
  3. Blackouts

Member/Guest Reservations

  1. Short-Term Reservations: 
    1. are reservations generally less than 32 days in duration where full payment is taken prior to check in and the owner is paid for the entire reservation any time after check in, usually after departure. 
    2. Can be made from several different locations:
      1. Reservations --> New Short Term 
      2. Calendar --> By Property
      3. Calendar --> Tape Chart 
      4. Calendar --> Annual Calendar 
    3. Travel Insurance (Trip Interruption Insurance) and Damage Waiver Insurance will only apply automatically to short term reservations.
  2. Seasonal Reservations:
    1. are reservations generally longer than one month and less than one year in duration. 
    2. can only be made from one location: 
      1. Reservations > New Short Term 
    3. can only be made on properties where the seasonal rental price has been set 
    4. Application of taxes to a seasonal reservation is optional and is set at the time the reservation is created. 
    5. Guest, management and owner charges and rent adjustments are set up to apply only to seasonal reservations and can apply monthly or as a one time charge. 
    6. One time charges can be configured to Pro-rate across the duration of the reservation. 
    7. Payments are applied to the reservation in monthly installments and the owner is paid monthly for the duration of the reservation. 
    8. They are most commonly used for winter (“Snowbird”) rentals in FL or off-season beach rentals farther north. 
  3. Long Term Reservations:
    1. are annual reservations made from the Long Term Module 
    2. Rental rates are calculated by the month from the 1st to the 1st. 
    3. Leases that begin part way through the month are pro-rated from the lease begin date through the first of the next month. 
    4. The proration method used is the monthly rent/number of days in the month * remaining days in month. 
    5. All new leases will pro-rate the last month's rent if it ends before the first of the following month, so if you expect a tenant to vacate on the last day of a month the lease should end on the first day of the following month (the last day belongs to the vacating tenant).
    6. Application of taxes to a long term reservation is optional and is set at the time the new reservation is created. 
    7. Guest, management and owner charges and rent adjustments can apply monthly or as a one time charge. 

Owner Reservations

Owner Reservations by default, are zero dollar reservations in the name of the owner. These can be changed to Guest of Owner reservations by changing the original name on the reservation to that of the guest.

Blackouts

Blackouts are a means of blocking properties from tenancy while maintenance or repairs are accomplished. These are generally scheduled from the Property Calendar.

Sections You Will find in this Chapter​


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