Escape to Luxury with StayMarquis

If you’re looking for a summer vacation rental but do not want to deal with the hassle, look no further than StayMarquis. Bryan Fedner, the co-founder and co-CEO offers his clients the privacy of a home, with the perks of a hotel.

Fedner dreamed up a full-service vacation property management company where groups of families and friends could select from pre-vetted vacation homes, and have full access to a concierge service while on holiday. Now a full-service, end-to-end second home services company, clients can use StayMarquis to find the perfect vacation home, buy a second home, or rent out their existing vacation home. StayMarquis is currently operating throughout the Hamptons, North Fork, Hudson Valley, Catskills, Litchfield County and Berkshire County, managing over 700 vacation homes–all ready for your next dream vacation.

StayMarquis recently hosted a Speaker Series for Related residents. Below, find highlights from a Q&A for both prospective StayMarquis vacation home renters and StayMarquis vacation home buyers.

Information For Prospective Renters:

How does staying in a vacation home compare to staying in a hotel?

Vacation rentals have become increasingly popular over the past decade, surpassing hotels for many travelers. They offer several advantages, including affordability, suitability for group travel, more space, greater privacy, and often come with additional amenities like kitchens and private pools. For years, the drawback of a vacation home was service. Not having a pre-vetted home, concierge available to you during your stay, and professionally managed experience was lacking. This is why StayMaruis entered the industry, to provide this top tier “hotel-like” experience to guests.

What should I expect to pay for a Hamptons house? What about in the North Fork or Hudson Valley?

The price of renting a vacation home varies significantly based on factors such as location, design, season, length of stay, and specific features. Features that have a high correlation to pricing are the number of bedrooms, pool, hottub, tennis court, and waterfront. In the Hamptons, an average 3-bedroom home during the peak season without premium features costs approximately $5,500 per bedroom per month. In comparison, similar properties in the North Fork and Hudson Valley are about 25%-30% less expensive. Adding features like a pool or tennis court can increase the cost significantly.

Where should I look to rent a property?

While platforms like Airbnb and VRBO are popular, booking directly through property managers or specialized platforms like StayMarquis can offer significant savings, around 15%, and additional benefits, such as insurance and exclusive property options. Local real estate agents are another option, though they often offer limited post-booking support and have less access to current rental availability.

Why should I book with StayMarquis versus other online channels or traditional agencies?

Unlike other channels or traditional agencies, StayMarquis distinguishes itself through its concierge that assists with all aspects of your stay, from transportation and activities to unique experiences like private chefs and yacht charters. It also thoroughly vets each property before listing it, ensuring rentals meet high standards. StayMarquis also has a local team of property management professionals that guests can call in the event of an issue, providing support throughout each stay.

Information For Existing Owners:

As a homeowner, how can StayMarquis help me?

StayMarquis offers comprehensive services for homeowners looking to rent out or maintain their properties. This includes creating and optimizing property listings, handling inquiries, managing bookings and payments, and overseeing all on-site services such as property preparation, guest communication, and cleaning after departures.

How much does StayMarquis charge homeowners?

StayMarquis provides three tailored programs for homeowners. The “Elite” Program is aimed at more hands-on owners, offering marketing and booking services for a 10% commission, without on-the-ground management. The “Marquis” Program is a full-service option for hands-off owners, covering all aspects of marketing, booking and rental management at a 25% commission. The ”Home Vision” Program is a property management service for ongoing maintenance and support, available for a monthly fee, and includes inspections, vendor coordination, and maintenance management. There are no initial fees to list a property with StayMarquis.

What is the process to get started?

The process begins with a consultation with a market manager, followed by account creation, property inspection, and listing setup. Pricing and strategy are finalized with the homeowner's approval before the listing goes live.

How do you determine the rental price for my home?

StayMarquis employs a data-driven approach to pricing, analyzing extensive booking data across platforms to determine optimal pricing for various times of the year and lengths of stay.

Information For Prospective Buyers:

What are some things to consider when buying a vacation home?

When considering a vacation home purchase, it's essential to clarify your objectives. Are you seeking a personal retreat, an investment property, or a combination of both? Your strategy for managing and operating the property, especially from a distance, will hinge on your goals. The frequency and timing of your personal use can significantly impact potential rental income. For instance, using a Hamptons property in the offseason versus the summer can yield very different financial outcomes. Identifying a reliable local partner is crucial if you're not comfortable managing the property remotely.

If I bought a property and strictly used it for investment purposes, what type of returns can I expect?

Returns on investment properties vary widely and are specific to each asset. While some properties may generate negative returns, others can exceed 10%. For this reason, expert advice is invaluable in navigating the market, analyzing potential investments, and identifying opportunities to enhance value and accelerate returns.

With Zillow it’s really easy to find properties for sale. Should I try to buy a home myself or work with a real estate agent?

With platforms like Zillow, buyers have more direct access to property listings. However, engaging a real estate agent offers expertise and access to off-market properties, enriching your options. Buying an investment home requires a thorough understanding of the sale market, rental market, renovation costs, local laws and regulations, and access to a network of trusted vendors. Additionally, since the seller typically covers the buyer's agent fees, leveraging their expertise is a prudent choice.

How does Marquis’ Real Estate Advisory service differ from other brokerages?

StayMarquis stands out with its deep insights into vacation rentals, including exclusive access to a vast owner network. Our comprehensive service encompasses sourcing, financial analysis, and operational management, offering a seamless transition from purchase to profitable rental, with potential for renovations and full property preparation under our guidance.

There is much to do after buying a home that can be overwhelming like renovating, designing and buying household essentials. Can Marquis help with that?

The "Refresh to Rent" program by StayMarquis alleviates the stress of property preparation. Our team, acting as your representative, manages renovations, design, and procurement, ensuring your property is optimized for rental or personal use with a focus on investment-friendly enhancements.

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