Thursday, February 12, 2009

Do you dip?

What if you started a property management company in Tennessee? Let's say you grew and grew and grew until you had almost 400 units on your program, and every time someone checked in or booked a future reservation your coffers grew and grew and grew ~ commensurately.

Are you with me? Big rental company with lots of money they are holding as deposits on future reservations?

Now, let's say the rules in Tennessee state that you, the professional vacation rental management company, are not supposed to touch this money until the guest departs.

But you need money! OMG, it's soooooo tempting! All that money sitting there in an account ~ just drawing interest.

You could pay your payroll with it ~ or back taxes ~ or, or, just about anything you might need money for to help you operate your business. Hell, if you could pay your office's electric bill with it, why not go a step further and use it to buy a new dining room set for your own personal rental cabin?

What to do? What to do? What to do? What to do? What to do?

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