Frequently Asked Questions for Homeowners
What are the advantages of renting through Ithaca Commencement Rentals?
* We handle almost everything; reviewing the requester’s needs and matching them with the appropriate house, processing the rental agreement and conducting all communications with the renters, and handling all payments (from the renter and to you) and all sales and occupancy taxes (paid by the renter).
* We get to know you and your home, and can be very specific about your particular requests or requirements for guests. Our whole business model is based on developing a very personal relationship with our homeowner clients. You have worked hard to develop and maintain an attractive home and you care about it. So do we, and we make an concerted effort to carefully match guests to the appropriate home. And that process is personal as well. Guests do not just get to click on a home online and reserve it. Reservations require an extensive personal conversation over the phone with Ithaca Commencement Rentals. We are a small company. Everything is handled personally by the president.
* We are on call 24 hours a day over the weekend to respond to any issues a renter has and to look after your home. Accidents can happen or systems (plumbing, HVAC systems, one never knows) can unexpectedly develop a problem. We have the tools and experience to handle most minor residential repair situations, and we will do so at no labor or time cost to you. You pay only the actual cost of materials, if any. If we have to call in a professional we will meet them on site and make sure the problem is resolved properly, again at no cost, for our time, to you. You pay only the professional’s fee. And we are communicating with you about the situation in real time if at all possible. If something gets broken accidentally and is not repairable the guests are responsible for replacing it or paying for same. And we cover the first $500 for accidental breakage or repair. If it is repairable, we will take care of making that happen as soon as possible and getting the cost covered by the guests, again, at no cost for our time and effort to you. We are here to take care of your home.
What are my responsibilities as a homeowner?
* We advertise our homes as being very clean, tidy, bright and welcoming. The home must be well cared for and properly maintained. For a more detailed set of guidelines see Homeowner Guidelines 2018.
* A personal visit to your home by Ithaca Commencement Rentals is required.
* We ask that you provide one vase of fresh cut flowers for your guests (perhaps from your garden?) and continental breakfast: breakfast breads (either danishes, muffins or bagels, but not all three), coffee, tea, milk or half and half, fresh fruit and juice (one kind).
* We ask that you give considerable care to cleaning, de-cluttering and preparing your home for guests. We provide you with a detailed list of guidelines and reminders every year prior to commencement weekend.
* We will share the contact information of your guests and request that you contact them in advance of their visit to determining their breakfast preferences and make arrangements for providing them with a key to the house.
Do you screen potential guests?
* It’s usually not possible to screen renters in person because they are not local to the area. That said, we have extensive, personal conversations with every guest and carefully assess the appropriateness of your home for their needs, and they sign an agreement that holds them responsible for damages to your property. . Demand for accommodations are so high on these commencement weekends that rents are set quite high (as is true for all the local hotels as well), and this has the effect of “self selecting” the quality of the guest clientele. We have had very few problems over the years, and nothing major.
Do you collect a security deposit from the guests?
* No. To do so is extra overhead for us, and years of experience has taught us that it is not necessary. We have experienced very few problems over many years, and have never had a situation where a homeowner was not compensated for an accidental breakage or the cost of repairing something.
Are there check-in and check-out times?
* Guests are given the general guidelines that check-in is at 2:00 PM and check-out at 11:00 AM, but are also told that these can be adjusted in personal consultation with the homeowner once an agreement is signed.
How much will you charge for my house?
* It varies, but is largely based on the number of people that can be accommodated in real beds, and somewhat on the location of the home. All homes are rented on a three night minimum basis. Perhaps an example is helpful. We have a beautiful home in Trumansburg, 12 miles from Cornell, that has four bedrooms (including a master), is 3,125 square feet, sleeps up to 10 people, with two full baths (one quite large), a great room, den, sitting room, formal dining room, kitchen with breakfast nook, a large deck, beautifully landscaped yard and gardens, and plenty of off-street parking. It rented in 2022 for $1,300 per night. If it were in Ithaca, closer to Cornell and Ithaca College, it would be higher. On the other hand, we have some lovely smaller homes that sleep 4-5 people and rent for less than $900 per night.
Will I have a tax liability for the rent you collect on my behalf?
* You might want to check with your own accountant or attorney, but our accountant advises us that under current state and federal tax law, homeowners can rent their property up to 14 nights per year without it becoming “a rental” and incurring an income tax liability.
What do you charge for your service?
* We ask for 25% of the total rental price for the weekend (not including sales and occupancy taxes which are paid by the guests). We know that that is more than some of the national private property rental services, but we are not national, we are local and we are here to take care of problems if they arise and to take care of your home, so you can be away and not worry.
Contact Us
Ithaca Commencement RentalsMET Ventures Inc.
Call Mike at (607)-229-7351
info@ithacacommencementrentals.com
More information & inquiry form for Guests
More information & inquiry form for Homeowners
Cornell Commencement:
May 26 - 28, 2023
Ithaca College Commencement:
May 20 & 21, 2023
More Information
https://commencement.cornell.edu/https://www.ithaca.edu/commencement/
https://www.visitithaca.com/
https://tompkinscountyny.gov/visiting
https://www.cityofithaca.org/393/Visitors
Rent a home for
your Graduation
All homes have been
carefully inspected.
Cornell 3-night stay
IC 2-night stay
