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Have you ever thought about earning some extra income by letting your apartment out on Airbnb, but the horror stories you hear in the media put you off?
Unscrupulous tenants, poor profit, a huge time commitment and lots of hassle are common reasons why people disregard letting their property. But, with the right expertise and resources, you don’t need to worry about these things and can take advantage of this fantastic revenue stream.
The easiest way to access this level of expertise and resources is by engaging a management company to let your apartment on your behalf. Here are some of the benefits they can offer:
Expert advice
There is so much to take into consideration when renting out property. Do you have the right insurance? How much should you charge? What should your terms and conditions be?
If you aren’t set up properly you can open yourself to all sorts of problems, but figuring it out can be a minefield if you don’t know what you’re doing. Having someone who knows the sector inside out saves you time and gives you peace of mind.
Open all hours
Some of the enquiries and bookings that you receive won’t come from the UK, or even this side of the world! Some management companies (like us!) have the capacity to take calls 24hrs of the day, so your potential guests can always get in touch and you’ll never miss an enquiry again.
Protection against the inevitable
Accidents do happen and breakages will occur. It’s unavoidable. But, having a maintenance team on hand means things will be rectified quickly and your apartment will soon be ready for the next guest. Minimising the time your property is unavailable to let is key to maximising your income.
Plus, having the correct procedures and paperwork in place means you can avoid disputes over what happens if something does occur. For example, we use signed check-in forms that enable us to protect against and claim for any damages caused by your guests.
Keeping the money coming in
A good management company will have access to a number of technological systems that makes the process of letting apartments easier and more efficient. One of the most important of these is the system that payments are made through. We’re all in this to make money after all!
Our payment system means that we can handle all invoicing, payments and deposits on our client’s behalf. The monthly detailed account summary that we provide is fully transparent, so that our clients can watch the money come in, without having to worry about collecting it themselves.
Saving you time
You want your guests to be impressed with your apartment and to feel like they are staying in the lap of luxury. And cleanliness plays a big role here.
Serviced apartment management companies will have a team of professional cleaners to send in after each departure, so you can be sure that your apartment will be at its best for the next guests. Yes, you can clean an apartment yourself but, considering how many guests you could have over a month if you’re fully booked with short stays, that’s a lot of time you’d spend cleaning.
We also provide top-quality linen in all our apartments through a company that provides luxury linen for premium hotels across the country. A special touch for your guests, which again saves you the time, cost and inconvenience of providing it yourself.
On-call
If your guest calls to say the heating is broken on a cold winter’s day you’ll have to rectify it pretty quickly – and this can mean dropping whatever you were doing. At the best of times this can be inconvenient, but what if you’re away on holiday?
A management company can deal with any emergency for you, so that you can get on with your life while the money streams in from your serviced apartment.
As with most things, management companies vary in the level and quality of service they offer, so it’s worth shopping around to find one that suits your requirements. The smaller they are the less likely they will be able to provide all of the above. But, regardless of size, a good one will want to help you protect your investment, maximise your income and make your life easier.
If you’d like to talk to us about what we can do for you and your property, then get in touch today.
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