Renting a holiday flat is, without a doubt, a great business, but it can also become a complete odyssey because of the time and dedication it requires. As experts in the management of tourism apartments in Barcelona, at Lodging Management we know that it’s an arduous undertaking that, if not properly handled, won’t offer the desired profits. This is why many property owners opt to hire companies like ours that are dedicated to carrying out this job professionally. To be gained is not only the time they otherwise would have spent on management, but also a professional response to any kind of incident that may arise.
The responsibilities of a company like ours are many: promote the tourism flat through the latest technology available, attend to guests’ needs 24 hours a day, do the housekeeping and, of course, welcome and bid farewell to tourists at check-in and check-out.
For those of you not convinced of the benefits of hiring professionals, we’d like to share six common mistakes that we’ve seen over the course of our years in business that many owners commit when they first start out managing tourism rentals themselves.
Mistake 1: Not realizing you’re responsible for everything
Did you think you were going to have a quiet day on the beach with your family? Sorry, now you’re stuck crossing the full length of the city to check your guests in because their plane was delayed 3 hours. And that’s just one example! The management of holiday rental flats is a huge challenge for inexperienced owners, especially when they can’t dedicate most of their time to the undertaking. Being in charge of ad publication, housekeeping, check-in and check-out, the needs of guests and the maintenance of the property is nearly impossible when it’s not your only job. And don’t forget that many tourists travel on the weekends. Are you ready to give up yours?
Mistake 2: Not optimizing your rental prices
In order to achieve the best revenues from your property, you have to apply optimization techniques: take advantage of high season to pause or restrict discounts and sell your product at the highest prices; require a minimum number of nights’ stay in special periods; up your cancelation fees and raise the price of your rooms as you approach the days with the most demand. You need to be cognizant of all the events happening in the city so that you don’t accidentally miss something important and lose out on money that you could have made.
Mistake 3: A lack of professionalism in the management of your tourism apartment
Do you speak other languages? How will you explain to your guests how the water heater works? Being able to rely on someone who knows the tourism sector backwards and forwards is an incredible benefit when it comes to playing your cards in the hospitality sector. Background or studies in subjects related to tourism and/or business administration are key to dominating the market. The management of holiday apartments isn’t a game, it’s highly specialized work that requires professional skills. We probably don’t need to say it, but in Barcelona foreign language knowledge is a must owing to the huge numbers of foreign tourists.
Mistake 4: Renting illegally without a license
Things have gotten ugly in recent years for those trying to rent out a flat without a tourism license in Barcelona. Many people have faced steep fines, but even so, there are those willing to take the risk. The rules and regulations are ever more exacting and heavy penalties are imposed on those operating without a license. Web portals have also taken to asking for the owner’s license when they go to advertise their flat on the Web. Do you have one?
Mistake 5: Not being on all the platforms
As the saying goes, “If you’re not on the Internet, you don’t exist.” The majority of tourists searching for accommodation do so on the Internet through portals like Booking, TripAdvisor or Airbnb. So the best way to get the largest number of clients is to publish your property on all the holiday rental portals. At Lodging Management we have powerful management software that allows us to be up on the most important portals and optimize prices so that our clients make the most money possible from their rental apartments.
Mistake 6: Discarding the option of month-to-month rentals
Sometimes we become so obsessed with the idea of renting our apartment to tourists short-term that we forget that there’s an enormous market of temporary residents in Barcelona searching for apartments that can be rented month to month. This market, intimately tied to tourists making long stays, temporary job placements, or masters or business school students, can be a great opportunity to earn revenue from your apartment without committing you to a long-term rental. Month-to-month renting means that you can use your apartment during the months you want to, yet still earn a good margin because the flexibility of the contract allows you to charge more than for traditional rentals.
Contact Lodging Management via the contact form above on the left side. We’ll give you a free consultation on your apartment.
