We earn for you all year round
Meet Daniel
Daniel inherited a beautiful apartment in Warsaw’s Powiśle district from his grandmother. After learning what would be more worth it for him, to rent out the apartment long-term or short-term, he decided on the second rental model. He’s a young, dynamic person who feels right at home online, so he decided right away to put up his apartment on sites like Booking.com and Airbnb.
After nearly a year of managing his apartment himself, Daniel found his way to BookingHost. At our first meeting, we learned that occupancy in his apartment was a mere 45%, and Daniel is disturbed not only by that result, but also with the type of clients that stay at his apartment. After turning the keys over to us, after only two months, to Daniel’s surprise, occupancy jumped to a steady 80-90%.
Now, Daniel is thinking about investing his income from his apartment in Powiśle in a second property, and says that he would turn it over to the management experts at BookingHost.
Challenge
- Directing advertising of the apartment to the desired type of clients
- Appropriate evaluation of the rate per night in the context of competing apartments
- Maintaining a high occupancy rate and setting a profitable rate in low season
- Constant consideration of monthly income in the long-term perspective
Strategy and implementation
Right after getting the keys from Daniel, we commissioned home staging for his apartment as well as some minor repairs, thanks to which we were able to significantly improve the standard of the property. Next, we organized a professional photo session with the aim of reaching a particular type of client.
Moreover, we standardized communication with guests, so that they feel they are being served professionally. We also looked after Daniel’s online reputation – we strive for the best guest reviews possible and contact them if there ever is a need.
In developing a long-term pricing strategy, we took a range of variables into account, according to which prices per night can be corrected daily as needed. Our main starting point is supply and demand, which is combined with constant monitoring of the competition to properly position the apartment on the short-term rental market.
Our knowledge of the market situation and expertise in the area of comprehensive management of short-term rental apartments enable us to achieve on average two, and sometimes even three-times better financial results than average for a given city.
Results
With Daniel’s trust in our expertise, we were able in a short time to establish an 80-90% occupancy rate and raising the standard of the apartment allowed access to an entirely new type of client. Thanks to this, the rates rose significantly. and the apartment draws not only vacationers in the tourist season, but also business travellers in the of year that are less attractive for sightseeing. That ensures Daniel a high level of profits all year round.
Daniel’s initial vacillation over the choice of how to rent his apartment was quickly resolved when it turned out that by deciding to rent short-term, Daniel earns four times as much in the high season as he would if he were renting out the property long-term.
Satisfaction and the sense of financial stability that Daniel especially appreciates is inclining him toward investing in another property, which he also intends to entrust for management to our experts at BookingHost.
Zajętość mieszkalna zarządzana przez bookinghost od stycznia 2017
- Zajętość mieszkania zarządzanego przez Daniela w roku 2016
- Zajętość mieszkania zarządzanego przez bookinghost od stycznia 2017
Why BookingHost?
- We have many years of experience in apartment management, not only in Poland, but also in such competitive markets as Italy and Portugal
- Our expertise and experience have allowed us to develop an advanced algorithm, which generates a set of rates based on consideration of a wide range of data and factors. Thanks to dynamic price management, we can maximize owners’ profits and achieve results that are two to three times the market average.
- Our team made up of experts in many fields such as property management, sales, marketing, client services or reputation management guarantees that we provide the highest quality of service in every area we work in.