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Professional Property Management
A short lets property management company comprised of a team of qualified rental managers who manage your vacations. They help you set up your vacation short lets rentals and target guests to maximize your short lets income. They offer flexible and tailored services based on particular needs to take care of all basic daily needs such as housekeeping, maintenance, guest communication, and managing interior designs.
Managing Your Short Lets Listing
Property management companies help you set up accounts and listing on popular online booking and listing websites such as Airbnb and Booking.com. This helps bring exposure to your property and they help market it as well as improve ranking by making your listing appealing to potential customers.
They constantly search for new platforms and list your short lets properties there. They edit your listings, update the amenities, and set competitive prices to improve your listing’s visibility and search ranking.
When a guest books your short lets property for vacation, the company manages the booking process through several stages which require a lot of communication. This saves you a lot of effort and time by taking the hassle of managing the bookings. They manage communication with the guests, handle complaints and respond to all the requests of the guests while they are staying on your property.
They not only manage accommodation but also screen your guests and accept or decline bookings. The company can decline a booking if they suspect the guest might breach the terms and rules or damage your property based on their experience and knowledge. They have the required experience and knowledge which is why they are professional and almost impossible for landlords or owners to do.
Increasing Revenue to Boost Occupancy Rate
A vacation or serviced accommodation management company can market your short lets property on popular OTAs (online travel aggregators) to help it reach potential customers and target audiences. They ensure that your property has the highest exposure so they have bookings throughout the year. One of the important roles of management companies is to maximize the return-on-investment (ROI). This requires optimizing the prices smartly by considering the commissions of OTAs to maximize the profit returns.
Luke Capital Group, as a property manager, is providing a service to list any property on its platform (Luke Stays) for free to all hosts. Any hosts who want increased exposure on their properties can list their short lets properties for free on Luke Stays booking platform.
Check out Luke Capital Group free service, which listing your property for higher exposure for free.
You are treated as an investor, adopt standard procedures, and receive detailed financial and accounting reports containing the information of expenses, profits, and income. They interact with you to keep you updated and informed regularly about the details of your business. You also get to choose how much you want to get involved in the business and include your decisions or leave the work to the professionals.
By leaving the work to the professionals, you don’t need to commit your time and efforts to manage or make decisions about what is good for your business. Property management companies offer services specific to vacation rental needs and save you from numerous headaches. Although all holiday bookings were affected after the Covid pandemic, but a professional property management company specialised in serviced accommodation will always have solutions regardless the any pandemics that might affect their business.
Run Your Property Like a Business
A short lets management company is like your business partner, where you are an investor and hired a company to manage its operations with a professional crew. You cannot focus on growing your revenue without providing high-quality and responsive customer services.
An investor puts money in a business and expects a return in a specific time given it generates the required amount of revenue. You might have mortgaged your property and looking to pay it off as soon as possibly can.
By hiring a short lets management company, you would get extra profits and use it to clear your debts to pay the mortgage. You have a higher chance of earning an additional source of income with fewer hassles. When you have paid off your mortgage you can invest in other properties to increase your income.
Read more on the tips on how to earn more stress-free income from your property.
The property management company reports back to you like in any other business in which the team reports to the Director or CEO. When you have trusted short lets management company and handed over the property to them, you must receive financial reports with transparency.
The data will help you see how much profits your property or investment has made in the last few given months. You can request the company or team to provide you information on how much commissions you paid, the number of guests, the trend of bookings, etc., and make decisions and discuss your concerns with the company.
This one of the benefits of hiring a property management company. Plus, the most satisfying part is, earning hassle-free income from your property.
High-Quality Bookings and Guests
It is important to always choose good guests because they will be staying in your property which comes with a high risk of managing your property. For this reason, guests must be screened before their confirmation which is a complex problem. If you don’t have experience in the real estate industry, you might end up choosing bad guests and have troubles later. You can face several problems such as your guests might not be leaving your property, causing damages to the property, or running into any legal issues.
A short lets management company have experience of working with hundreds if not thousands of tenant applications. They can check the facts about their guests quicker, identify red flags, and avoid guests that can directly affect the property. This way you run into fewer legal and financial problems as the management company is armed with a lot of knowledge. You are protected from many potential lawsuits that bad tenants can cause you.
Luke Capital Group is certified by I-PRAC. I-PRAC is a global trust accreditation and certification operating worldwide which is verifying short lets to be legitimate. Meaning that all guests and hosts are protected as an exchange service. I-PRAC is a verification platform that approves property owners and rental agencies around the world, protecting travellers from rental fraud.
Hence, all of Luke Stays properties, landlords working with Luke Capital Group, hosts, and investors, are all protected including the guests from frauds. Thanks to I-PRAC.
To know more about I-PRAC agency, visit their webpage.
Shorter Vacancy of Properties
It is the job of a property management company to ensure a property is not vacant for a long time because they are responsible for bringing in new guests and doing required marketing for it. They know exactly what cosmetic improvements attract new guests to maximize your revenues. Generating revenue from your short lets property is their basic target and KPI (key performance indicator). They also suggest you the rates according to holiday seasons and market condition trends.
Property professionals have written numerous ads and know what to say and they advertise them to attract customers. They can negotiate the rates by briefing the customers about the amenities and features of the serviced accommodations, and know how to close a deal.
The main targets and objectives of the short lets property management company are to attract customers, generate bookings and provide a reasonable amount of revenues from your rental properties.
Find out more about our short lets property management services and how it benefits both the landlords and guests.