Let with us
Actions speak louder than words, here's a case study of our very first client whom we provided co hosting services.
When we met the owner of Pentire Heights he was exhausted with second home ownership and was considering selling. This was not possible due to the current state of the property market, so he was stuck between a rock and a hard place. To make matters worse he was struggling to manage the property from abroad and unreasonable management fees were reducing his profit margins further, the situation was unsustainable.
These were just the problem's he knew about.
Narrowing margins were not the owners only problem, with no one overseeing his pricing strategy and listing quality he was also leaving huge amounts of money on the table and missing out on his properties full earning potential. Many home owners are unaware that Airbnb's smart pricing's aim is not to provide owners with the maximum profit but is actually to provide guests with the cheapest possible stays, so will often under sell your properties potential.
Further more Airbnb is a software company and can't be expected to understand the nuance of your locations demand and seasonality. This can be a huge leaking hole in earnings when there is a festival or event of some kind near your property, allowing you to charge 200%+ your usual rate.
On average properties that have expert pricing strategies which reflect local demand earn 20% more annually than those using Airbnb's smart pricing tool alone.
THIS IS WHERE WE CAME IN.
Knowing he could not continue with his current management team he sought out help and found us. Immediately we were able to provide a reasonable and measured quote that gave him the breathing room to keep on letting the property. Initially the relationship was formed with the intention of providing property management and housekeeping services, though over time it became obvious that the owner simply did not have the time or know how to manage his Airbnb listing competitively. Sometimes leaving long gaps in guest communication, missing out on potential bookings and opportunities to build stronger guest relations.
After working on the property we quickly noticed the problems and knew we could help. So we approached the home owner with our proposal for running all aspects of his properties Airbnb profile including pricing, photography, listing description and guest communication. Though apprehensive to give up another 6% of his earnings he trusted us when we told him our services would pay for them self.
WITHIN ONE YEAR OF MANAGING THE PROPERTY WE HAVE INCREASED HIS EARNINGS BY 25%
Once we had identified and corrected the problems throughout the listing and implemented a well informed dynamic pricing strategy, the property saw an immediate increase in profit and popularity. With a constant eye monitoring local trends and reacting accordingly, we were able to raise and lower the prices at crucial times. All amenities were properly communicated in a way that excited potential visitors into becoming paying guests.
