How To Choose A Reputable Property Management Company In Newport
Updated: Jan 30, 2021
Hiring a property management company in Newport can be very useful for your business. Many owners in Newport prefer to manage their properties themselves or with the help of a “friend” or employee.
But sometimes the owners need more support and decide to professionalize the issue. This is when a company that is responsible for the administration of its properties as Airfreedom The Hosting Experts can be beneficial to increase the exposure of your properties, get more bookings and avoid unforeseen revenue loss due to lousy management, which can also enable you to scale your business.
Property management companies can be instrumental, but they have a cost that not everyone is willing to pay. Review the following points carefully to determine if hiring a company to help you manage your property in Newport and Cardiff is the right decision for you.
Serviced Accommodation Property Management companies deal directly with the following:
Saving you time in the commercialization of your properties
Looking for guests
Responding and resolving guests complaints
List your property across hundreds of different online travel agents
Hotel-quality Laundry Supplies
Bookings & verification checks
Key exchanges & on-call support
When working with a property management company make sure you find one you truly trust, knowing they will look after your investments, and they have no compromises which might represent a conflict of interests to your business, allowing you to enjoy your investment.
A good management company in Newport and Cardiff brings its experience and professionalism, giving you peace of mind as you will know that your investment is in good hands.
However, although hiring a company that manages your properties has many advantages, you should keep in mind that your services can be more expensive than if you do it yourself or do it with a “friend” – employee. At AirFreedom you are assisted by graduate Hospitality Managers who maximise your rentals returns while providing quality accommodation to their guests.
You should especially value the hiring of a property management company if:
You do not live near the property you want to rent in Newport. It is especially beneficial to hire a property management company in these cases since there will be many issues that you cannot master from a distance.
You have several properties for rent in Newport or Cardiff. The more properties to rent you own, the more beneficial it will be to have the services of a company of these characteristics.
You are not interested in performing the administration yourself. If you see rents as an investment but do not want to take care of the daily arrangements, consider hiring a management company.
You do not want to take care of an employee. If you hire a person to help you with your property, you will have to pay the payroll and other legal requirements in Newport.
Your time is limited, and you prefer to devote it to other issues.
How to find a suitable property management company in Newport and Cardiff
The property manager you hire must make important decisions on your behalf. Therefore, it is essential to select a competent company that has enough experience to provide quality Property and Hospitality management services. You should prioritise experience in Hospitality Management as Serviced Accommodation is in fact a Hospitality Business. Many new operators don't possess the professional acumen to provide you with the service quality you need. On the same note, do not allow yourself to be tricked with over-forecasting possible revenue and long term contracts as they might end up costing you large sums.
Keep in mind that a Service Accommodation Property Management company must keep their own investments separate, otherwise, you may find your properties obtaining low occupancy rates while the agent's own investments collect the biggest slices of profit from the volume of business you have helped to build. That is definitively not a smart move. For us, it's vital that our customers are aware we do not own any properties as our own investments in this area as in our perspective that would imply a conflict of interest which would not be beneficial to our clients.
When a group enquiry reaches an agent, usually they require X beds to X guests across Z Area. It's up to the property management company to make their decisions and place their guests across the properties as they feel more appropriate. Guess where these bookings end up being allocated if your property manager has their own properties empty?
Not trying to be nasty, but simply trying to make everyone aware: Be careful when you have a Property Manager sourcing you property deals in a streamlined one-stop-shop for your new serviced accommodation business. From finding your property, to decorate it and setting it up as serviced accommodation. They will get you in a year contract with them where they only earn if you have bookings, but regardless you get attached to a lease agreement with no possible escape, they get their earnings in the process, a commission from the bookings and absolutely nothing to lose. Do your due diligence and be confident at AirFreedom you are provided with realistic perspectives of what your properties might achieve without hyper-positivism. For us it all about ethic, honour and quality.
The easiest ways to find the right management company according to your needs are the following:
Get recommendations from colleagues and associations
Check reviews and online presence
Interview with the target companies to know their philosophy
Prioritise Quality over Quantity
Try to support small businesses
Check how long they have been operating for
Still not convinced that a property management company in Newport/Cardiff is the best option for your investment or want to know more precisely the benefits you could get?
Contact AirFreedom, the best property managers in Newport.
We will be happy to talk and show you the way we work.