The Key to Success

Owners of Key Source Properties, Justin Reid and Jonathan Klunk.

By Remy Sisk

Photo by Tim Valentino

With the ever-rising popularity of Airbnb and other short-term rental outlets, the city is seeing more and more individuals decide to take on the challenge of listing their own home or another property they own at which out-of-towners may stay. However, what many of these folks don’t take into account is the multitude of processes that go along with this endeavor. In addition to preparing the property, there’s also the phone calls, booking inquiries and a host of other aspects that can pile up and make listing a property not entirely realistic. That’s where Key Source Properties, a business that specializes in the hospitality of short-term rentals, comes in.

It all started when Jonathan Klunk and his husband, Justin Reid, went on a vacation and stayed at an Airbnb. While away, they engaged the host on how lucrative hosting a property was and were convinced that they wanted to try their hand at the business. “We were satisfied that it was something that we should try, so three Derbys ago was our first guest,” relates Klunk. At the time, they lived on the first floor of a duplex and began renting out the upstairs. The pair saw so much success that soon, others were asking for their help in doing the same thing.

“We were very vocal about our success and how well we were doing so many people reached out to us and asked that we help them get started doing it themselves,” Klunk describes. “We created a consulting side of our business to help with everything from advising on furnishings and helping people to acquire those, all the way up to teaching them how to use the platform.”

What Klunk and Reid eventually realized was that many individuals who wanted to list properties simply did not have the time for the multifaceted job of being a host. “I think that a lot of these people quickly realized that they were in over their heads and they didn’t have the time or resources to commit to such a high-touch industry,” he explains. “So they invited us to manage it for them for a fee, and that’s how it got started—very organically. We did not set out to create this business; it was always just going to be for ourselves, but very quickly we saw the potential.”

Now, the pair behind Key Source Properties work not only with Airbnb but also other short-term rental platforms to coordinate stays, remain up-to-date on messages and ensure the properties enjoy a high visibility. “We are doing something that is not easy for the average person to do,” Klunk emphasizes. “If you’re managing your own property and have a full-time job, you’re lucky if you can do it well within Airbnb, let alone across six other platforms. It’s not really feasible for the average user to do what we’re doing for all of our clients. That’s a very important part that we want to communicate: we don’t just give you back your time but we’re actually doing a lot of things that you can’t do yourself.”

Looking ahead, Klunk and Reid anticipate continued significant growth, which is what they’ve already seen as the business has developed. Not only do they take care of getting guests into your property but they also maintain the highest level of quality across all of their listings, including featuring hotel-quality linens in the bedroom and bathroom. Clearly, its blend of dedication, professionalism and passion will see Key Source Properties continue to expand, making it easier for owners across the region to engage in the business of short-term rentals. VT