Best way to work with management clients
Summary
This article discusses the importance of clear contracts and communication when working with property management clients. It highlights the transition from co-hosting to direct property management and emphasizes the value of building a distinct brand identity. Hosts should prioritize clear agreements, effective communication and a strong brand to improve client relations and overall business success.
Key Insights
- •Transparent contracts and agreements with clients are crucial for effective collaborations and minimizing potential disputes.
- •The transition from co-hosting to directly managing properties on one's account via a Property Management System (PMS) allows for elevated service, consistent branding, and risk mitigation.
- •Fee structures should be based on gross rental revenue, emphasizing the value of services and outstanding guest experience.
Action Items
- ✓Ensure you have transparent contracts and agreements with your clients to avoid disputes.Effort: lowImpact: medium
- ✓Consider transitioning to direct property management using a Property Management System (PMS) for better service and branding.Effort: mediumImpact: medium
Tools & Resources
- →WeHost Canada: David Curtis, the founder of WeHost Canada and an adept property manager is mentioned.
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