How to Devise A Strategy To Make Money From Short Term Property Management

By on October 24, 2016

If you have a property and want to make money from it, you must pay attention to the management and marketing aspects also. With the recent introduction of channels like AirBnB, it’s easy to make money through short term property rentals.

However, you need to devise a strategy as per a country’s business landscape and tourist attractions. If we take the example of Spain and Madrid, the business and marketing strategy will be different.

The property management by AirBNB in Barcelona will be different and involve a systematic and step-by-step process to make the maximum out of the property.

If you are an owner of some lush green villas and apartments in Barcelona and Madrid, your marketing consultant will apply the following strategic points for a result oriented success:-

# 1 – Do Market Research

  • It’s vital to do market research and find the viable answers to important questions.
  • The research must include an online and offline survey to the customers including questions like which places they want to visit, what are the major attractions they want to include, features and amenities they require, and budget also.
  • The survey will help to collect a list of ideas that are ideal for customizing the property management plan for the location. It will include both online and offline property management.

# 2 – Online Profile Management

  • The online profile management requires hands-on expertise and skills from a management and marketing consultant.
  • The consultant will optimize the profile and use proper keywords oriented content to improve the search rankings of the property profile.
  • As renting the property for short-term can make 60-70% more than renting it full-time, the property management consult will smartly add appropriate calendar dates and will decide on a price matrix based on competition and season.
  • For a stress-free experience, the consultant will also arrange guest communications, 24-Hour Check-in, cleaning, linen, staff management, and maintenance activities also.
  • The company will use high-definition property images with appropriate taglines and slogans to attract maximum visitors. As images speak a thousand words, the management consultant will display them on the page appropriately.
  • Short-term vacation property management on AirBNB require catchy taglines and a proper planning when to launch offers and deals and when to add high prices. It’s an art and can be only mastered and monitored by a great provider that has significant experience in doing it successfully for other providers.
  • The provider will also advise and help in social media marketing skills to enhance the mouth-of-the-world publicity also.
  • It will help to manage campaigns and also advise when to go for adword paid campaign and when to use free tools for effective and best results.

# 3 – Offline Property Management

  • The offline property management requires monitoring of the property and conducting maintenance activities from time-to-time as per the market requirement and customer feedback.
  • The marketing consultant will play important role in managing the property properly and use the budget wisely.

Conclusion

So, you can start making money from your villas and apartments easily.

You need to apply the right skills as per the season and the market trends. A property management consultant can help you make this job easier and more profitable.

The consultant will use its rich local knowledge and online marketing skills to fetch you lucrative rental offers all the time.

Once the traction on the property increases, you can think to buy more properties or renovate the property to include budget and premium villas/apartment at one place to attract tourists from all the countries and budget sizes.

You can also talk to the provider to have a team of vendors to provide add-on services like the car lease, travel buses, and other facilities also at the same rate so that you can offer end-to-end travel and rental solutions to increase sales.

Lisa Parker

Lisa Parker, a reader, writer and explorer who likes to write about anything to everything. She is expanding her zone in writing and tries to cover different fields. She wrote article before on smartphones, management and on many different topics.