The changes taking place on the Polish property market are visible to the naked eye. An idea that has been present in many other countries for a long time is slowly blossoming in our country. We are talking about the so-called short-term rental, i.e. renting out owned real estate for a short period (usually a few days). The development of such an idea is, of course, due to the needs of the market and the expectations of people who are interested in renting a property in a particular city for a short period of time. Admittedly, a great many property owners still stick to the usual long-term rental. However, all statistics show that short-term rentals will become increasingly popular in the future and thus even more profitable. Therefore, we will now describe the main advantages of deciding to hand over full management of your property to a professional company. Why is this so cost-effective and what benefits can be gained? The answers to these two questions can be found in the following text.
Saving time and energy
Short-term rental is superior to traditional property rental for months or years in many respects. First and foremost, with short-term rentals, the owner of the premises can count on significantly higher profits. However, this comes at a price. Managing such premises requires considerably more time and energy. With traditional renting, the role of the property owner is limited to signing the contract and subsequent contact with the tenant.
In the case of short-term rentals, the case is somewhat different. The responsibilities of the landlord start as soon as the idea of making money from a short-term rental is conceived. This idea itself requires action, i.e. creating an advert, promoting it and making sure the offer is attractive. This also includes the most time-consuming issue, i.e. the extensive handling of the rental property. The landlord must take care of: cleaning and preparing the property for the guests, constant contact with them (both before, during and after their stay), prompt organisation of any repairs and overseeing any paperwork. This, in turn, requires not only commitment, but also a constant presence on site.
As a result, short-term rentals require a large amount of time and commitment to be dedicated. This, in turn, poses quite a problem for some landlords, especially those developing other projects in parallel. Fortunately, a professional company can take over much of the aforementioned responsibilities, making the whole process less time-consuming.
Maximising profits and improving profitability
Among those who rent flats are members of various professions. They are, therefore, people who can do better or worse in terms of broadly maximising profits. This is not surprising, as investing through short-term rentals is available to virtually every property owner.
This is why working with professionals can be so important. The knowledge possessed by such individuals will maximise the returns from your rental investment. Importantly, professionals can use tried and tested schemes and activities that are unfamiliar to most landlords. As a result, landlords can not only save time and energy, but can also expect higher returns.
Professional customer service and concern for positive feedback
There is no denying the fact that the property market is highly competitive. Recently, this statement has also begun to hold true for the short-term rental market. Unfortunately, the high level of competition is one of those factors that can rapidly limit the profitability of a business. The wide range of premises to rent makes it potential tenants may be guided by a number of factors. One of them is customer service and the resulting feedback from previous visitors.
Surely anyone familiar with the realities of this market knows that opinions are important. However, not everyone is aware of this, that they are now even KEY. Good customer service and the resulting positive feedback can ensure huge market advantage over competitors. In turn, this will have a direct impact on the profitability of the investment and the amount of profit.
The problem, however, is that constant attention to high quality customer service is really time-consuming. For this reason, not all property owners will be able to set aside the time necessary to serve their customers. Once again, therefore, they are showing their advantage here professional managers. With their support, customer service becomes easier and at the same time more comprehensive. This in turn can really quickly result in better feedback and thus generate higher profits.
Summary
Increasing competition in the market for properties available as short-term rentals is becoming a reality. This, in turn, is creating completely new challenges for investors. In order to gain an advantage over other landlords, the investor must constantly ensure the quality of customer service and the standard of the property on offer. Unfortunately, this requires a really large amount of time and energy. Not everyone will be able to find the time and energy to do this, so their advantage in the market will quickly disappear. That is why the support of a professional company may be the ideal solution to meet growing needs. High-quality specialists will help to take care of the logistical aspects as well as all customer service activities. Such an investment can quickly bring results in the form of positive feedback from guests. This, in turn, becomes crucial in terms of increasing the profitability of the rental carried out. Therefore, if a landlord wants to ensure that his or her offer remains attractive and competitive, the support of specialists may be worth its weight in gold.
At the same time, we would like to remind you that as a company Hostly we offer specialist management of premises for short-term rental. All those interested are welcome to take a look at our offer.
