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Live your dreams & earn passive income!
Live your dreams & earn passive income!
Ever dreamed of owning a vacation property that would serve as your family's vacation spot, and also generate income as short term rental on Airbnb, VRBO and other online platforms? But you shied away because you didn't know how to find and buy such properties, or you thought it was too much work to furnish, manage and grow such an asset?
Well...BnB Assets is the solution you were looking for!
We help you find and buy such properties, work with you to furnish them and get them ready for short term rentals, manage your day to day marketing, bookings, customer interactions, and running your operations with housekeeping teams and other hospitality partners. And more!
In a nutshell, we help you enjoy the ownership of a lifestyle asset and also generate passive income renting it out, while we do all the hard-work on your behalf.
Benefits of short term rental properties Vs long term rental properties
Benefits of short term rental properties Vs long term rental properties
Variable, but higher month on month revenues as compared with long term rental properties.
Ability to increase revenue over time through higher customer ratings, greater exposure on social media and other techniques.
Low risk of inflation hitting your Business as you are able to pass on the extra costs to your guests via higher nightly charges and still cover your costs.
Complete flexibility to use the property for personal vacations, large gatherings, events, or anything else. This is a huge advantage and you can decide what dates you want to rent and what dates you want to block for personal usage.
In today's world of high real estate prices, it's practically impossible to find long term rental properties that will produce positive cashflow for buyers. But based on our experience, the short term rental properties easily cashflow positive even in current higher real estate prices.
With the flexibility of work from anywhere or hybrid models that most corporates are offering, demand for local travels and more vacations has boosted the short term rentals market, and this trend seems to have the staying power. Even on a personal level, given this flexibility, why wouldn't you want to spend more time with you family working from your remote property every once in a while! And make money renting it out when you're not using it.
Challenges of owning and operating short term vacation rentals
Challenges of owning and operating short term vacation rentals
As clearly seen above, it makes sense to invest in properties today that will do well as short term rentals. But there are some barriers to enter and succeed in this real estate market segment or niche. Here are a few we have experienced on our own journey:
It takes some skill and analysis to identify areas and properties with max potential for short term rentals.
You have to invest some additional funds and loads of time to get these properties furnished, styled and beautified for max impact on AirBnb, VRBO and other online marketplaces.
You need time and skills to build your team of housekeeping personals, handymen, plumbers, electricians and other hospitality people for any break fixes or damages. This needs to be done upfront before you Go Live with a vacation rental.
Once the property is ready to be listed, you need time and skills to take beautiful pictures that will get the potential guests excited, and create write-ups for your listings on AirBnb and elsewhere.
Once you are up and running, you have to invest daily time to answer calls and questions from your guests as they go through the process of inquiry, booking and staying at your property.
You also need to be someone who can listen to your guests' feedback for improvement and build cordial relations with them so that you can maintain high ratings in customer reviews. This is an important metric for long term success and any slippages here will impact your Business.
On an ongoing basis, you need to invest additional efforts in social media marketing so that you can constantly grow the exposure of your property to more people.
As you can see, the short term rentals market is not for everyone. The rewards are high, but you need special skills, time and efforts to be successful in this market segment. We ourselves went through this pain and feel confident that we can help others be successful using the best practices we learned and established.
BnB Assets was created with this intention and we can help you with all he above challenges and barriers to entry. You can enjoy all the benefits that this market segment offers, while we take you from A to Z by deploying our own time, expertise and teams that we have established.
We will do all the hard work on your behalf, thereby making this like a passive income for you, with all the benefits of short term vacation rentals ownership! So just give us a call and let's see how we can help you.
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