Which were the most important concerns for you before going into the vacation rental business? Did you overcome them successfully?

The greatest concerns for property managers in Europe in 2016 are the following:

79% PROPERTY DAMAGE

55% LETTING STRANGERS STAY AT YOUR PROPERTY

17% LOSE MONEY

Do you agree?

Comments

helen62helen62
2 months ago

My greatest concern is the growing power of listing sites. After various changes HomeAway & VRBO made earlier this year my listings don't receive anywhere near the bookings they use to. Like the flip of a hat.

That's why it's important to put your eggs in multiple baskets.

sherri6858sherri6858
2 months ago

I totally agree. VRBO & HomeAway inquiries have dropped off to an extreme extent since they changed their policies and eliminated the possibility of allowing owners who want to buy higher premium listings, to do so. Their new egalitarian business model is the worst business decision I've seen in recent times. It brings in far less money from owners, adds costs to vacationers, and has caused both owners and guests to look for alternative listing sites. Also, the new model resembles AirBnB's model, which is fraught with negative impacts on owners.

jpoljpol
2 months ago

Being a property manager with 100+ properties my greatest concern is:

  • Keeping all my owners happy. 20% of owners costt us 80% of our time.
  • Keeping all our guests happy with properties not fully controlled by us. Quality control is important, otherwise it results in bad reviews and bad reputation.
al.AvaiBookal.AvaiBook
2 months ago

Thank you for your opinion jpol! I can imagine managing so many properties is such a hard work... And totally agree with the 20-80 allocation, always that allocation!

RichardVRichardV
2 months ago

Wow, interesting results! They look like an individual owners concerns or perhaps a city/Airbnb manager.

  1. Ours are quality of cleaning and management
  2. Owners occupying a lot of time: (20-80 is correct) Education on the changes, the need to up the amenity/quality/price-stay terms.
  3. Increased work on marketing, managing the ex listing sites (now OTA's) and explaining to guests all the problems these changes have caused.
  4. Extended working hours. Bookings are expected 24/7 - 24hours.
GrahamGraham
2 months ago

Up until a few weeks ago I would have said the power of OTAs was one of my biggest concerns. Lately, it's been the power of state real estate organizations. In particular, the Arizona Department of Real Estate. I've received several calls from clients who've received letters of complaint from the ADRE.

Apparently this government body feels is should control all VRs, that only state licensed brokers should manage, advertise, and provide services for VRs. The ADRE admits to not having any documented protocols, streamlined paperwork systems or even knowledge of VRM. Simply because VRs are homes, ADRE should have 100% control. To the extent that they are going after homeowners who advertise on OTAs.

Arizona is a very popular winter destination. I hope the ego of the ADRE doesn't squelch the economic gain the cities earn each winter.

The greatest concern is having to work with OTA's and their silly systems!

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