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Thanks so much for the detailed answer! I currently use Stripe, but will talk with my bank tomorrow.
Sheron
There is no restriction on the number of properties to use Lynnbrook. You can have 1 property and many users do.
There is a lot of confusion around this topic. Lynnbrook used to recommend using a different processor for users with very low processing volume because there are minimum costs to having a real underwritten merchant account, and Lynnbrook has to pass that cost along to the merchant. Since the Stripe's and PayPal's of the world have "no monthly fee" accounts, they figured that users would be better suited using that instead of being irritated by a $10 or $15 dollar monthly charge if the account was not being used (where it might be $0 with a Stripe or PayPal).
However, with our urging, Lynnbrook is not longer saying that and is now creating merchant accounts for any and all users regardless of processing volume or number of properties.
We highly recommend using a real merchant account (doesn't have to be Lynnbrook, but we do recommend them) instead of a general "aggregator" account such as Stripe, PayPal or Braintree. Yes, there may be a small monthly fee for a Lynnbrook account, but squeezing every last cent out of your bank account is not a smart approach when selecting a credit card processor.
In recent times, Stripe and the large aggregators have become very hostile to VR businesses, they do not refund fees when you issue refunds and they can freeze funds at any time based on "security" algorithms. When disputes or chargebacks occur - and they always do eventually - the Stripe/PayPal aggregators are not in your corner and will do nothing to help you through it. They treat vacation rentals "products" like any other good or service which means a guest can be a No Show and get their money back since "product was not delivered". Try calling Stripe or PayPal on the phone and see who's willing to talk to you or take your call seriously. There are other misc. benefits like getting gross deposit to your bank account (fees taken out at end of month) which helps with reconciliation.
It's well worth paying a few bucks per month to have a good processor who understands the VR industry and has real customer support. As your business grows, you get the added benefit of commanding better rates.
Am I able to change the email address in my profile or will it interfere with Airbnb, VRBO?
Thanks. It would not work for me then as I have only 2 properties.
Thanks. I will check into it.
Yes, it does help. Thanks! I will give them a call.
Hi, Sheron. There is an application but it does not require a certain number of properties. It does ask about gross volume by month. .. There are additional charges if you dont process a minimum of $20 per.month, but that was the only limit they discussed with me. The application process seemed to be more about ensuring that that you are legitimate/not a scammer, not about minimums.
Hope that helps.
Are all your properties on VRBO? If you import all of them you can then import all the rates you've set in VRBO. The import is under "Settings", then select "Spot Rates" then look at the upper right for the "Import From Channel" button. I only have one listing, so I think this will work for multiple, but don't know for sure.
If you are looking for the nightly rates, go to Settings > Spot Rates and you can use the Import From Channel tool. That'll import all of the nightly rates fro VRBO or Airbnb. And then go to Tools > Rate Calendar if you want to update them.
You will still have to configure surcharges, discounts, fees in Settings > Surcharges & Discounts and taxes in Settings > Taxes.
If you want seasonal rates like night and week rate then yes, you'd need to set them up -- the Setup Interview makes that easier: https://app.ownerrez.com/setup/seasons
I don't have a Costco account myself but I don't believe Costco/Elavon has any restrictions on number of properties.
I've imported 2 of my listings and is it correct that the system doesn't import rates already set up? I have 7 properties on multiple platforms--do I have to recreate the prices for each? EEEK!
Do you need to be a PM or have a certain number of properties to use Costco? I have 2 properties.
You don't need to be a PM to go to API mode with VRBO (and process your own payments) but you do need to have at least 5 properties.
Hello MB,
Do you need to be a Property Manager to process your own payments through VRBO/HA?
Resurrecting the topic. so among now 3 properties listed on BDC (two of them for a year) - three bookings maybe. That , to me , does not look like "industry leader" or whatever they call themselves. I think the issue lies in the how potential guest has to search BDC - i.e only exact dates. Seems like they cannot just search and then see what is availability of the place they like. This may work for hotels as people have exact dates for their business trips but often vacationers are quite flexible by 1-2 days in my drive to destination.
What kind of experienced any of you have with BDC?
Super news, fast response, and thanks again for everything!
The search box in your main dashboard searches guests and bookings etc. That's the little one you're referring to, I think.
The search box for support is in the Support area and searches all public support docs, forums, blogs etc: https://www.ownerrez.com/support. If you're in the logged in to your main dashboard, you can access the support area by clicking the ? icon and choosing "Help".
The Forums are scheduled for a complete overhaul.
The Support Docs are already in the middle of a complete overhaul. There will be lots and lots and logs more support documents coming. And the Search function there does work fairly well, as you discovered.
Yep, we happened to just push out an update as you posted. This is now fixed, and I've deleted the duplicate reply on your post.
Thanks for the quick feedback!
Thanks, I had just found it. I'm not sure how though! I suggest you fix the search box in the upper right of the screen. I typed in longitude and latitude and nothing came up. I somehow encountered a help area and there was another bigger search box there, and I entered the information and it showed up.
I love OwnerRez but my ongoing issue is that it is too hard to find things. The user interface could use some improvement, and in the meantime though, if the search box worked that would help a lot.
SBF Vacation Ren is exactly right. The ARDI (damage protection) sold through OwnerRez is a "spread risk" model that covers you (the owner or PM) and does not involve the guest. This is real coverage that you can rely on. What the guest buys on VRBO and Airbnb is mostly to protect the guest and if they choose to admit that it was their fault (many do not). CSA, the carrier for VRBO, requires that the guest be involved and admit fault or they will not cover the damage. Airbnb is exactly the same way - their "host guarantee" is a very hollow promise that requires the guest to be involved.
Read more about the ARDI program from OwnerRez here:
https://www.ownerrez.com/support/articles/damage-protection-overview
Sure, it's under Properties > pick a property > Location.
Hi, It's happened twice now and will probably happen again with this post. When I hit submit topic, I get a red banner above saying that the post has not been taken and that I should refresh the screen and try again. Only when I refresh the screen, the post goes through. I am using MacOS 10.4.6 and Chrome 76.0.3809.132
Hi, I am trying out Pricelabs and have already connected using the API, but before I can see my pricing results it is asking for latitude and longitude, and I can't find the setting on OwnerRez where I can add that in.
Also, I tried doing a search for this and nothing showed. Also, is there a search available for the forums? I couldn't see one.
Thanks!
the HA "accidental" damage insurance doesn't cover you, it covers the guest. if the guest disputes the claim, you get nothing.
ARDI covers you. You are their insured, not the guest. That makes a difference when you're putting in a claim.
I just switched from Stripe to Costco's payment processing. I investigated Lynbrook and they are certainly nice and %s are marginally lower than the consistent 3% I was getting with Stripe.
But Costco's percentages are even lower (especially with some extra perks if you have an executive membership to costco).
Set up was pretty painless with plenty of available assistance and hand-holding as necessary. I had been concerned about this because the companies Costco uses are huge (Elavon and Converge).
In the end, though, even if the %s seem minimal, the volume I do (and will do now that I'm processing my own payments through HA/VRBO API) made switching worth my time.
Hope that helps.
Thank you. I must have meant to enter min 2 gap nights nut somehow updated weekend nights? Not sure how that happened. Anyhow, I fixed it now and will observe.
Fractionally it is, but whether it is worth switching. to me wasn't worth a hassle
I currently use Stripe, but have seen some comments that Lynbrook is less expensive.
Sheron Scurlock
I just had an instant booking come into OR via VRBO. They paid VRBO $59 for the accidental damage insurance, but I noticed I will be charged $20 for it through OR. My understanding was they had to have an address given in order for the insurance to be purchased, and that VRBO was not providing that info to OR. Am I mistaken?
I don't want to be charged $20 when they have already purchased it elsewhere.
Thanks,
Sheron Scurlock
