What's Your Experience with Property Managers?

[Stas573]

Hey,
I'm diving into the world of property management here in Cyprus and I'm super curious about your experiences with property management agencies, especially in the short-term rental villas space.

What have been some standout moments (good or bad) in your dealings with property managers? For those of you who have found awesome property managers, what do they do that really makes a difference? And if you've had less-than-great experiences, what would you suggest to avoid those pitfalls?

Appreciate any stories or tips you can share!

[Lorna170]

Property managers generally do a decent job handling the paperwork involved in managing STRs for owners.  HOWEVER,

Property managers need to have well-established, trained, capable and competent cleaning teams who will properly conduct the turnover cleanings between guests.  This is a significant area for failure IMO.

When I used a property manager they would block out days as "could not rent" on my calendar due to limited cleaning staff.  I did not expect same day turnovers between guests, but blocking 3-5 days on the calendar because they could not get a cleaner was poor planning on their part.

They also did not check on the work done by their cleaning staff which led to complaints from guests as to the quality of the cleaning and the refresh of necessary supplies (toilet paper, etc.).  

Exterior yard work was not done.  Hot tubs were not cared for. Stained linens were not removed or replaced, and necessary cleaning products were not made available to their staff.  There was little to no oversight.  

Good luck with your venture as a property manager -- just remember that you are only as good as the staff that you have hired for the maintenance and cleaning.

[Stas573]

Thank you so much for your advice. Luckily we already have a proven cleaning team and this shouldn't be a problem. 

[Bhumika]

Hi @Stas573 , Thanks for sharing this interesting question with us! How are you getting along as you dive into property management? 

Have you already outlined your strategies to ensure a smoother experience for your clients? What are your focus points while doing so? 😃

[Stas573]

Hi Bhumika, yes, I spent a few days analysing the market and identified a few strengths and weaknesses with other agencies.
We decided to focus on digitalisation and marketing, namely to create a quality brand for them, a website, email newsletters, develop social media and launch advertising campaigns. And, of course, use airbnb and other platforms. And several other strong tools 😉
And also, we plan to create a community of villa owners and organise villa meetings for them every 3 months.
Our website is currently under development, and the mobile version is not ready yet, but you can already see everything that I have described here on your laptop https://teleport.marketing/villas