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Short-term Rentals for the Chinese Market

Unless your vacation rental’s calendar is full every day of the year, you will be looking to increase bookings. There are a myriad of platforms out there to list your rental – such as the big ones like Airbnb, VRBO or Homeaway or Flip Key. However, even though you are present on theses pages, are you really reaching all potential guests out there?  A lucrative market, which remains largely untapped, is the large number of Chinese tourists travelling abroad. From 2016 to 2017 the number of vacations Chinese citizens were taking outside the country increased by 7% to 131 million occasions, for example. With that comes a huge spending power. In 2016 alone it amounted to over USD 261 billion for Chinese tourists abroad. So how do you reach Chinese travellers with an interest in staying in vacation rental? CertiStay had an opportunity to speak with an expert in the Chinese market, Donald Kim. Donald is VP of Business Development at Cozystay, which operates a platform for short-term rentals targeting Chinese vacationers. 1. Donald, thank you for taking the time to answer a few questions for us. Could you introduce yourself and tell us a little bit more about what Cozystay does? Hi, it is a pleasure to be here. I’m the VP of Business Development for Cozystay and I’ve been working with the company since its launch in early 2015. The idea started with Galen, CEO/Founder, who initially looked at providing student housing for Chinese students in North America and then decided for a model similar to Airbnb but targeting the emerging Chinese tourism market. China has surpassed USA and Germany for outbound travel and will be the largest market for the next 10-15

Interview with Yvonne Chan, Chief Insurance Officer for CertiStay

As the Chief Insurance Officer of CertiStay, Yvonne Chan is the go-to expert to answer any questions regarding vacation homes and insurance. Yvonne holds impressive qualifications such as Chartered Insurance Professional (CIP), Canadian Risk Management (CRM) and Canadian Association of Insurance Brokers (CAIB) designations. She has been working in the industry for over 20 years and specialises in modelling proprietary insurance solutions. Also read our interview with Steve Watt, Chairman of CertiStay's Safety & Secruity Committee. 1. Yvonne, thank you for answering some questions for us today. Could you briefly describe your background in the insurance industry? Today many young insurance professionals are graduates of a risk management program at post secondary institutions – many of my peers of my generation either fell into insurance by accident or it is a family business. I fell into insurance by accident when I was trying to figure out what to do after school. In my very first insurance job, I met a wonderful mentor who continues to be a mentor and friend to me to this day. She was knowledgeable and kind. However, she was a tough teacher, which I admired and wanted to emulate. My first job was with The Dominion of Canada Insurance Company, which was the oldest Canadian Insurance company prior to Travelers acquiring it. I was a Claims Assistant before being promoted to an In-house Claims Adjuster, adjusting homeowners’ claims. From there it was a natural progression to learning how to create insurance programs to meet the needs of different insured operations so that when there is a claim that the policy would respond. I went on to become a Placement Specialist with several global insurance brokers to continue to develop my craft. I

Interview with Steve Watt, Chairman, CertiStay Safety & Security Committee

As the Chairman of the Safety & Security Committee of CertiStay, Steve Watt can look back on over 35 years of experience in policing. Starting his career in Northern Ireland with the Royal Ulster Constabulary, he quickly established his career in police, law enforcement and private security training not only in Canada but internationally as well. A recognized expert on policing matters, he has been consulting for the Province of British Columbia and Public Safety Canada since 2007. With this impressive CV, there is really no better person to ask a couple of questions on how to keep your Airbnb and short-term rental safe and secure. Let's get started! Note: Short-term rentals are referred to as STRs. 1. Having summarised your experience a bit above, could you tell us about a highlight that stood out in your career? While there many are highs and lows in policing, my main focus has always been helping others; whether that was a police officer in training, the victim of a crime or someone struggling with life’s challenges. It’s all about reaching out and touching someone in a positive way. My role with CertiStay carries on that philosophy to ensure individuals and families can experience safe and secure business and vacation short-term rentals. 2. How did you become a member of the Safety & Security Committee of CertiStay? Happenstance! A colleague of mine introduced me to Wolf Worster in April 2017 and the rest fell into place after meeting with the CertiStay team. 3. Getting onto the subject of security in STRs, which are the 3 most important issues in terms of security to consider when setting up your Airbnb, VRBO or Homeaway? There are two interrelated issues to