If you own several rental villas or vacation home in Bali but you’re not staying in this beautiful island, the chances are that you can’t manage your property very well. Especially when you don’t have much time to monitor them remotely for 24/7. That’s why property management company is a perfect solution for foreign owners like you!
Starting a villa rental business in Bali is a pretty big undertaking. This will take a lot of your time and money. Of course you need the right and smart strategy to optimize your villa in the market. Starting from marketing strategies, pricing, maintenance, guest-services, and others.
As a novice investor, it’s wise to think about hiring a property manager, especially if hospitality isn’t your background. Hiring a trusted property manager is useful for maintaining your assets in the long term and minimizing losses in the early stages, and ensure your property investment returns a sizable ROI.
So what does property management actually do and what should you expect from them? let’s find out below.
What does Property Management Companies Actually Do?
Basically, property management companies is a company that offers supervision and hospitality management services for commercial property, such as luxury villas, resort, guest house or homestay. Property management generally has a professional team that handles various problems and provides solutions for the benefit of the client’s property. Starting from the marketing team, reservation team, property maintenance team, finance team, guest relations team and others.
Here’s what’s property management companies usually will carry out tasks on a daily basis:
- receiving bookings,
- responding to guest requests, complaints, or emergencies,
- optimize property owners OTAs,
- analyzing the market,
- providing real-time reports to property owners,
- conducting periodic inspections of owners’ properties.
- ensure the guest to pay on-time
- take professional photos of partner properties
- and many more based according to your respective company and request
What to Expect from Property Management Companies?
If you are planning to hire property management, you should set some expectations to achieve your property investment goals. This will be useful for you not to choose the wrong property management and ultimately damage your investment. Here are 5 expectations that you should have when choosing property management companies. Let’s find out below.
Hosting and Guest Service Management
- create property listings on strong OTAs, such as Airbnb, Booking.com and more
- accept guest bookings and update availability dates on OTAs
- ensure the property is clean and tidy before guests check-in
- help guests check-in and check-out
- provide immediate assistance to guests if there is a complaint or emergency
- provide a world-class services and trained on-site staff to ensure your guest have a valuable and outstanding guest experience while staying at your property
Sales and Marketing Optimization
Your property that offers luxury and valuable experiences to guests will certainly lose if it is not accompanied by a maximum strategy. Therefore, having a marketing team that is able to analyze the market in depth through accurate data can optimize and position your property appropriately.
This can be done by the marketing team from property management companies. not only helping to host your property, property management companies will also make the right strategy to maximize your property to get satisfactory results. Here’s what you should expect property management companies to optimize your property:
- Optimize your property listing so that it appears in the top rankings in OTAs,
- Create attractive branding for your property to attract the attention of guests,
- Use professional high-resolution tools to take photos of your property to increase guest interest and trust,
- Analyze the market,
- Make a competitive strategic price,
- Market your property in paid advertising media, owned to increase sales,
Collect Rent Income & Financial Reporting
- Take care of guest booking transactions,
- Collect rent on time (for long term rental properties),
- Real-time reporting an accurate accounting data and financial records of your property.
- Transfer your property income directly after deducting the commission.
Maintenance and Repairs
Since guest-experience is very crucial for your rental property, property maintenance is a must. You cannot carelessly carry out regular maintenance of your property, because each property has its own uniqueness and requires appropriate maintenance as well.
We need professional staff who can understand the needs of your property and care for it in an appropriate way. And a property management company you can rely on to do this. Here’s what you can expect from a property management company to take care of your property.
- Carry out inspections of the property’s interior, exterior and facilities,
- Handle damage and leakage of property facilities professionally,
- Perform seasonal property maintenance to anticipate major damage,
- Manage property resources, such as electricity and water,
- Keep the property clean, tidy and free from pests,
- Provide more protection against viruses by providing regular disinfectants.
Branding and Reputation Management
Reputation and branding is one of the main components in attracting guests to your property. What property management can do to improve your property’s reputation and branding can be done in various ways.
And here’s what you should expect property management company do to enhance your property’s branding:
- Creating an attractive title or property listing headline
- Maximizing rating on OTAs
- Handle guest reviews
- Build a good relationship with guests
If you read all the way here on what is property management and what you should expect, hopefully you now understand how property management companies can help you. Property management companies can be a one way solution for those of you who want to invest property in Bali but have many obstacles.
Since 2012, Bukit Vista has helped to optimize +170 luxury villas, guest houses, resorts and vacation rental homes in Bali and Jogja with the most innovative solution.
Get your free consultation now and be ready to reach your investment goals without any hussle.