Higher Prices, Higher Standards!!
As a property management company, we promise our clients to maximize their rental income. However, in a city like Toronto, where there are over 10,000 Airbnb units; how do we remain competitive, maintain higher occupancy rates and still make money for our clients.
We charge higher prices on our properties. Guests are willing to pay the higher charges because they see a value in our offerings. Our properties are well furnished with a blend of modern day amenities and classic decor to look beautiful, functional and satisfy all needs of our clientele. Our team is always available to assist the clients. When a guest got locked out at 2 am, we have been there to pass a spare key to the guest.
However, higher prices attract a certain type of clientele. We deal with a lot of families, elderly groups, and business executives. We have observed that:
- Guests are less tolerant to missing items or appliances not working
- Guests expect a very clean apartment and will complain in person or through review about it if something was missed
- Guests ding reviews on VALUE if they feel that the property is priced above market
- Lot of inquiries from bargain seekers
In order to justify the higher prices, we:
- Constantly invest money into our properties by upgrading technology, adding décor or appliances that make the guests experience better
- Engage with our clients to provide an overall experience and not just an accommodation. For e.g. I have stocked groceries for a client who was hosting a few friends for dinner during a short visit to Toronto.
- Flexible check-in and check-outs depending on availability
- Personal check-in and walk-through of the premises, if requested
Hosting guests through Airbnb or other platforms is a business. More you give to the business, higher returns you will get in terms of positive reviews, more bookings and higher prices.