Terms of Service

Big Sky Co-op Terms of Service

Service Breakdown

Partnership Agreements

Cancellation Policy

Recovery & Asset Protection

1. Introduction

Welcome to Big Sky Co-op! We provide full-service property management, furnishing solutions, and operational support for short-term rentals. By engaging our services, you agree to these Terms of Service.

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2. Management Services

We offer comprehensive management services for various property types:

• Camper Vans and Glamping Structures
• Apartments and Houses

Management Fee:

• 20-30% of Gross Rental Revenue based on risk and scope of services.

Services Include:

• Marketing and listing optimization
• Guest communication and bookings
• Maintenance coordination
• Financial reporting

Fee Breakdown by Property Type

2.1 Vans and Adventure Vehicles

• Management Fee: 25% - 30%
• Services:
  • Guest communication and reservation handling.
  • Vehicle maintenance coordination.
  • Cleaning and prep between bookings.
  • Inventory management (gear, accessories, etc.).

2.2 Glamping Homes and Cabins

• Management Fee: 25% - 30%
• Services:
  • Full guest management.
  • Cleaning, linen, and laundry services.
  • Seasonal maintenance (heating, plumbing, etc.).
  • Coordination of outdoor amenities (fire pits, hot tubs, etc.).

2.3 Apartments and Urban Rentals

• Management Fee: 20% - 25%
• Services:
  • 24/7 guest communication.
  • Cleaning and turnover services.
  • Key exchange and security systems.
  • Basic maintenance and contractor coordination.
  • Lawncare & Landscaping Services

2.4 High-Risk Properties

• Management Fee: 30%
• Criteria for High-Risk:
  • Significant initial investment in furnishings and setup.
  • Properties requiring additional security or maintenance.
  • Complicated guest experiences (e.g., large groups, high-value items).
• Services:
  • Comprehensive guest communication and vetting.
  • Extensive pre-stay and post-stay inspections.
  • Full furnishing and equipment management.
  • Advanced marketing and dynamic pricing strategies.

High-Risk Property Management Fees

Definition of High-Risk Properties

A property may be classified as high-risk under the following conditions:

• New Listings with no prior rental history.
• Properties in distressed condition requiring significant setup or maintenance.
• Properties located in areas with high damage potential or inconsistent guest behavior.
• Unresponsive or hands-on owners who require frequent communication or adjustments.
• Properties with loaned furnishings or financed equipment provided by Big Sky Co-op.

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Fee Structure for High-Risk Properties

1. Management Fee

   • 30% of Gross Rental Revenue (compared to 20% for standard properties).

2. Setup Fee

   • A one-time setup fee of $1,500 to $3,000, depending on the property’s condition, requirements and size.

3. Loan and Financing Fee

   • 20% Financing Fee up to 6 month terms for any furnishings or equipment provided under loan agreements.

4. Maintenance Coordination Fee

   • 20% surcharge on maintenance services due to increased management complexity.

5. Cancellation Fees

   • Early Termination Fee: Equivalent to 2 months' management fees.
   • Additional charges for asset recovery and outstanding loans.

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Examples of High-Risk Scenarios

1. Loaned Furnishings or Equipment:
   If Big Sky Co-op provides furnishings or equipment under a loan agreement, the property is automatically classified as high-risk until the loan is fully repaid.

2. Owner Involvement:
   Properties where owners require frequent intervention or deviate from Big Sky Co-op’s streamlined processes.

3. Property Condition:
   Listings that need substantial repairs, upgrades, or safety improvements before becoming guest-ready.

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Why High-Risk Fees Apply

Managing high-risk properties involves:

• Increased Operational Complexity: More time spent on coordination, communication, and problem-solving.
• Financial Risk: Potential for loan defaults, damage, or inconsistent revenue.
• Resource Allocation: Additional staff and third-party services required to maintain standards.

Definitions:

• High Risk Property: A property categorized as high risk based on factors including but not limited to:
  • Frequent need for repairs or maintenance.
  • Inconsistent or delayed communication from the owner.
  • Property located in areas with higher damage rates or security concerns.
  • Owner history of late payments or non-compliance with management processes.
• Unresponsive Owner: An owner who fails to:
  • Log into their account at least once per month.
  • Respond to management communications within 7 business days.
  • Complete at least one verified communication per month with the property manager.

3. Equipment and Furnishing Services

We provide loaned furnishings and equipment to enhance your property’s appeal and functionality.

• Furniture Loans: High-quality furnishings provided under loan agreements.
• Equipment Setup: Installation of Wi-Fi, security cameras, and smart devices.
• Inventory Tracking: Full documentation of all loaned assets.

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4. Recovery and Asset Protection

Big Sky Co-op reserves the right to recover all loaned equipment and furnishings under the following conditions:

• Termination of Service
• Loan Default (missed payments)

Obstructing recovery will result in a $500 daily penalty.

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5. Strict Cancellation Policy

• 30-Day Notice for cancellation.
• Early Termination Fees:
  • Standard: 1 month’s management fee
  • High-Risk: 2 months’ management fee + loan recovery fees

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6. Loan Default Clause

Defaulting on loan payments will result in:

• Immediate Termination of Services
• Full Loan Repayment required within 14 days of termination
• Legal and Collection Costs borne by the homeowner

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7. Exit Strategy and Partnership Termination

In case of termination, the following steps apply:

1. Inventory Audit
2. Asset Recovery within 7 days
3. Settlement of Outstanding Balances within 14 days