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The Lake Life Owner Brief

Everything an owner needs to know to get set up.

A guide for prospective owners. It covers what's included, how fees work, what we need from you, and what to expect in the first ninety days.

Prepared by Lake Life
For Prospective owners
Updated June 2026
i. Section one

What's included in management.

One management fee covers the work below. We don't upcharge for the every-day care that good hosting is made of.

Guest experience
  • Listing creation, photography coordination, copy
  • Dynamic pricing & availability management
  • Guest communications, pre- & post-stay
  • Check-in instructions & in-stay support
  • Review management & recovery
  • Local recommendations, the personal touch
On-the-ground operations
  • Cleaning scheduled & quality-checked every turn
  • Linen, towel & consumables restocking
  • Photo-inspection between stays
  • Maintenance triage & trusted local trades
  • Lock-out & emergency response
  • Inventory tracking & replacements
Owner reporting
  • Monthly owner statements
  • Quarterly portfolio review
  • Year-end summary for your accountant
  • Direct line to your host (not a 1-800 number)
  • Owner portal access
  • Transparent maintenance approvals
ii. Section two

How fees work.

One management fee, charged as a percentage of nightly revenue. No setup fees, no marketing surcharges, no cleaning markups.

One management fee — quoted at your owner consult

Every property is different. We confirm your rate after the walk-through, and it covers everything in this guide.

Onboarding & listing setup
Photography, copywriting, channel setup
Included
Cleaning
Passed through at cost, scheduled per turn
At cost
Linen & consumables
Restocked between stays
At cost
Maintenance & trades
Owner approval over an agreed threshold
At cost
STR licence (City of Kelowna)
Held by the owner; we'll send the link
Owner
Strata / HOA fees, taxes, utilities
Always paid by the owner
Owner
iii. Section three

The first thirty days.

From signed agreement to first guest. Most owners are listed and live within three weeks; longer if photography or staging is involved.

Days 1–3
01

Walk-through & agreement

We visit the property, confirm condition, and finalize the management agreement. STR licence number collected from the owner.

Days 4–10
02

Set-up & staging

Inventory audit, missing items sourced, deep clean, professional photography, smart lock & supplies in place.

Days 11–18
03

Listings & pricing

Listing built across Airbnb, VRBO, direct channels. Dynamic pricing rules set. Calendar opens.

Days 19–30
04

First guests

Bookings begin. Owner portal access activated. First monthly statement scheduled for end of cycle.

iv. Section four

What we'll need from you.

A short checklist of what to gather before we start.

i.

City of Kelowna STR licence

The licence is held by the property owner. The application lives on the City of Kelowna site; we'll send you the link.

Owner responsibility
ii.

Strata approval & bylaws

Confirmation that the building permits short-term rental at the suite, plus a copy of any relevant bylaws.

Documentation
iii.

Insurance proof

Active STR-appropriate insurance policy. We can recommend brokers if needed.

Documentation
iv.

Owner banking details

For monthly payouts and clear reconciliation against statements.

Onboarding
v.

Keys, fobs, parking, mail

Two sets of physical keys, parking spot details, mailroom info, and any building amenity instructions.

Property access
vi.

Owner-use calendar

Any dates you'd like to block off for personal use, family stays, or maintenance.

Calendar
v. Section five

What to expect as an owner.

A short note on rhythm. Once you're live, here's the cadence of communication you can plan around.

Monthly
  • Owner statement, sent within seven days of month-end
  • Plain-language summary of bookings, revenue, expenses
  • Direct deposit to owner banking
Quarterly
  • Performance review & pricing reset
  • Review of guest feedback & recurring themes
  • Recommendations for the next quarter
As needed
  • Maintenance approvals over agreed threshold
  • Building-level issues (strata, insurance, etc.)
  • Anything that requires owner sign-off
vi. Section six

Common questions.

A few of the things owners ask in our first conversation.

Next step

Ready to talk through your property?

A 30-minute call. We'll walk through the building, the unit, your goals, and whether Lake Life is the right fit. No obligation, no pressure.

Email info@lakelifepropertymgmt.ca · Office Downtown Kelowna, BC · Response within 48 hours