⭐ Seasonal rental: 6 points I wish I had known before starting
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Hello, and welcome to the J'poster Complet channel, the channel which helps seasonal rental companies, professional sub-renters and seasonal rental concierge services to become serene and ultra-profitable entrepreneurs. Today, I'm going to share with you a little piece of what I experienced as a seasonal rental company, and the things I wish I had known before. I'm going to share two things with you: the things that I would have liked to know before based on the experience I had, but also the things that I think we need to know today when we want to launch a seasonal rental when you plan to invest, change your life, create a gîte, a guest house, or invest in real estate, buy an apartment or a house, which you want to operate as a short rental duration. In my opinion, there are things to keep in mind, so I'm excited to talk about them with you today. If you're interested, and if you're about to get started, stay with me, you'll be interested. When you arrive Live with me, don't hesitate to say hello, it's always a pleasure. I am really delighted to spend this moment with you. It's really a pleasure. –
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- Hello Alan, welcome.
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Today we are going to talk about the things that I would have liked to know before starting short-term rentals, and then I will also talk to you, as I said, about the things which, in my opinion, may be things to know today before launching for a short period. I think I had six things.
In the end, I thought of many other things, in the meantime, from my personal experience. As a reminder… well as a reminder, as if we all had to know my life by heart: absolutely not, obviously. Just for those who haven't had the opportunity to see it in previous content, I was a seasonal renter for a year with my husband. In fact, when we bought our main residence with my husband, I fell a little into the real estate pot, and I realized that in fact, when you are looking to invest in real estate, start with the primary residence, this is not necessarily the best idea. But it was already done. We were already at the notary, signing with pencil in hand. So what I suggested to my husband – we made three bedrooms in the apartment we had bought – was to put two of the three into seasonal rentals. So we became a guest house. On AIRBNB, it's called a homestay. We were like a guest house, the difference, perhaps, compared to certain guest houses, is that we were really in real proximity, perhaps even the word promiscuity would be appropriate, because for us, really, we had out of the three bedrooms, two bedrooms for our guests, one bedroom for us, and in fact, the entire rest of the apartment was shared with them: the bathroom was shared with them, the kitchen too. This is important for the rest of what I am going to tell you. So there you have it, we did seasonal rentals that way. It was a super enriching experience. When I started, I was aware that I obviously had 1,800 things to learn and 1,800 points on which to improve and work. But there was still one subject on which I said to myself: “ah no, but that’s okay, I know how to do it,” and that was the prices. I said to myself: “The prices, after all, you’ve been doing this for 10 ballets for your employers. You know how to price things. »
And in fact, the thing that I would have liked to know before starting is that already, first thing, it's also a bit of the mistakes that I made, I set an introductory price for far too long . I had the reflex, which is virtuous, and which I always recommend, to start with a more attractive price, that's true, and this, especially, if you want to distribute on platforms such as Booking and AIRBNB which will ask your travelers for reviews. So this allows you, at the beginning, to accumulate opinions, then to accumulate positive opinions. So that is always something that is virtuous. But you have to do it until you accumulate three, four, five reviews, but that's all. I had really priced it much lower, and I had priced it for a very long time. I put it on for two months continuously. So it was really totally excessive. So what I would have liked to know, yes, it's a good idea to have a lower price, but you shouldn't spread it over two months of the calendar. Putting it in for the first reservations is more than enough, and then the machine is launched. The parenthesis in relation to that, it also helps you in relation to the algorithm of these sites, because these sites will judge the arrival of your ad extremely quickly, that is to say they will watch over the first few days how travelers behave: do they click on your ad? Are they booking your ad? And they form a conviction about the quality of what you do in a few days, like that, in the blink of an eye. So you have to be very good, encourage people to click and encourage people to book. That's the first thing.
The second thing, which is a little outside of revenue management, but I thought it was interesting to talk to you about it all the same, is that seasonal rental, especially here, I am addressing people who want to put a room in their home as a seasonal rental company, or people who want to create a guest house. It's something, it's a profession that is not trivial. Already, I use the word profession. Welcoming people is something that is very different from any other business. It's not e-commerce, it's not cryptocurrencies, there's something human in that, and that remains one of the fundamentals of our work, even if it's automated, even if we professionalize things, we have a team, etc. Ultimately, we manage humans, we manage people, with the truly magical things that it covers, with the difficulties that it can also involve. That is undeniable. With the pandemic, we have fewer people coming from abroad, and from other countries. But for us, for example, as we are in Île de France, before the pandemic, we really had a lot of people who came from abroad, so it was extremely rich, and we loved it. We had a lot of countries from around the world who visited our living room, and we also had a lot of culture war situations. However, I think I have traveled a lot, but that pushes us to our limits, our astonishment. I'll just give you an anecdote. I hope this makes you smile. I actually had some Korean travelers staying with us at the time. The thing is that we're there, so it's true that we see everything that's happening. And so, every time I went into my bathroom, I saw a layer of water like that. I was like, “But what’s going on? » And it was always after they had passed. They were two young boys who were traveling after their studies. I was like, “But what’s going on? »Once… twice… and so afterwards, I went to them and said: “But is it okay with the bathroom? Do you have everything you need? » They say: “Yes, everything is fine, thank you”. I tell them: “I think there is water in the bathroom. » Afterwards, they say to me: “Yes, yes. » But as English was difficult, we couldn't really understand each other. So what I did was I went to Korea to find out what the bathrooms are like. I said to myself: “I have to understand”. Because I still said to myself: "There's not having the compass in your eye, and there's putting water all over the bathroom." » There is still a big difference between the two. And so, while researching, in fact, I realized that in Korea, the bathrooms work in a completely different way from the bathrooms that you can find in France in particular. It's that you have a system which is all... it's all in one piece, in fact. It's all one block, and then there's a drain in the middle. So obviously, in Korea, you can put water everywhere, that's absolutely no problem: There is a drain on the ground, and I imagine that they will go "click click clack clac", and then case closed . When I understood this, I went back to see them and said: “You know that there are differences between the bathrooms in France and Korea, it’s that we don’t have water drain on the floor, so the water must remain in the bathtub or sink. » And suddenly, they discovered something that they had not noticed at all while taking a bath in the bathroom. We can have things like that, and it’s actually part of the job. And that’s important to keep in mind. It's not like investing in cryptocurrencies. There is still something human, with the positive points, the less positive points.
Now, if we move on to the point that moreover, for today, people who would like to get into seasonal rental; The major point that I am going to share with you today is that if you are hesitant to start vacation rentals because you say to yourself: “There is a pandemic, it is not very profitable. » Which makes me say this, this point was inspired by the fact that I did a survey on Linkedin. I made a post, and then I put a questionnaire (on Linkedin, you can put questions). I said: “Investing in seasonal rentals with the pandemic, is it no longer profitable at all or still just as profitable? » And I saw a significant percentage of people - it's Linkedin, so it could also be people who may be less aware of seasonal rentals, but still - there was a percentage of people not negligible who thought that with the pandemic, seasonal rental is no longer profitable at all. So that’s really something we can “clean ourselves” from… well, we can abandon that idea. This is a prejudice that is not correct. Despite the pandemic — it’s true that there were months that were more difficult than others — seasonal rentals today remain very profitable. What you need to know, the luck we have in seasonal rentals, is that with the pandemic, there is a whole part of the clientele who has turned away from the service a little bit. hotel, due to the fact that we are still, despite everything, a bit of a group in a hotel structure. People no longer really want to be mixed in the crowd with other people they don't know, for obvious hygiene reasons that we all understand, so much so that seasonal rentals have really benefited. doing well because of all that, and resisted the pandemic much better, in fact, than the hotel industry last summer, and this summer it was the same thing. So the third thing to know before getting started is that just because we have a pandemic doesn't mean it's really heresy to get into seasonal rentals today: not at all.
The fourth thing is that it's not easy. When you hesitate to start vacation rentals, you still need to know: you fall back a little on the fact that you are managing people. It’s still very profitable, that’s for sure, and it still is. Now, it's a mode of operation that still requires a lot of energy to invest in it, even if only in setting it up. It's still a sum of small things: you have to respond to guests, you have to make sure that you have someone to welcome you, or that you have a key box, you have to clean up, we have to make sure that we have sent all the information in advance to the travelers: all of these things. The management of online advertisements, the management of pricing and revenue management are a sum of things to do which make seasonal rental a very profitable mode of operation, but it is also a mode of exploitation which, perhaps, if poorly implemented, extremely time-consuming. It's always like that in life. Often, the things that are the most profitable, there is a risk, or there is a price to pay, time, etc. That’s a bit like it for seasonal rentals.
Which brings me to — I hope that I am not going to ridiculously fail to count — which brings me to my fifth point, is that there are two elements which will be essential to live the life well. seasonal rental if you are starting out or if you are hesitant to get started: the first is “the computer is our friend”; and the second is “the team is our friend.” » That is to say, as a person who has a gîte, an apartment, or even a seasonal rental concierge service, the number one priority will be to try to automate everything that can be automated. You have a lot of people online telling you how to automate, and that's not insignificant at all. It's really important to automate all the things that can be automated. If we have to give examples to clarify all of this a little, putting in key boxes is a form of automation: we automate arrivals. And don't think people hate it. All business customers, in fact, love key boxes. Another thing that we can automate: sending emails, for example, to avoid having to constantly rewrite the same things. There will always be things that need to be said as bonuses, but to avoid having to rewrite at least the same things, we take care of at least part of the information by sending automatic emails. So automation is essential. And then, there are things that cannot be automated: you cannot automate cleaning, you need a human being who does the cleaning professionally. We cannot automate pricing, you need a revenue manager or someone who is trained in this, who knows how to do pricing, and in these cases, you need to build a team around you, or that you make time for that. Because that's what will ensure that, at a given moment, everything is very realistic and doesn't become a spiral, a riot of time to spend that actually makes you want to give up. So that's it.
Another point, so here I think I'm at the sixth point. Another point is having a professional approach. We mentioned earlier the fact that with the pandemic, seasonal rental has clearly performed well. Now, competition remains tough in seasonal rental. Yes, it's true, as we sometimes hear, many actors have abandoned seasonal rentals and returned to long-term rentals. But the reality is that even those who were at the conference suffered from the pandemic. The students were all at home with their parents. So in the end, there is still competition, and the competition is quite fierce. The field of seasonal rental is becoming enormously professional, year after year, and today, we can no longer, or in any case very difficult, approach the market without having a professional approach, that is to say without having taken care to choose a quality apartment, without having taken care to create quality decoration. Besides, I would like to take this opportunity to tell you that this evening, on Instagram, I will be live with Violaine Rénoveuse Astucieuse. We're going to talk about exactly this: how to get excellent comments, with decoration and revenue management? So a quality decoration. You must have a professional approach, also, on the advertisements, take photos by a photographer. All that is no longer a bonus, today, in our field, in our profession. It really is a must-see. It's a must, too, why? To enable you to subsequently have the best returns, the best profitability on your activity, and ensure that it is sustainable; if it is you who carries out the activity, that you can live with dignity from your work. It's important, because it takes time, and if it's a team that you build alongside you so that in fact, your structure is profitable and sustainable in the long term, because we don't do not that for six months. We do this to have additional salary, we do this to have additional retirement, we do this to pass on assets to our children, or we do this to change our lives, because we want to change jobs. But in any case, it’s not a one-year thing. It's really a long term thing. And in fact, sustainability and long-term success can only be achieved with a professional and serious approach on all these subjects.
So there you go, look, in the end, I condensed some points. I have 6 points, that's it. Without wanting to, I respected the six points that I wanted to share with you today. I hope this helped you, let me know what you think. Do you have any questions to ask me today about all of this? Are you currently getting started, and you actually had all these subjects in mind? Don't hesitate to tell me. With great pleasure, I will look at the messages that I may have missed.
- Hello Sandra. Welcome Sandra! Sandra, watching us from Facebook.
- Hello Audrey, welcome to you.
- So Sandra, you tell me: “I’ve been full since May despite everything.”
Yes that's it. That is to say, really, the pandemic, I think you are referring to what I was saying about the pandemic. The pandemic is here, indeed, it has already given us a few cold sweats during the periods of confinement itself. Because on the first, it was finally forbidden to receive people in seasonal rentals and hotels. And subsequently, in fact, we were able to create methods to succeed in filling despite everything during confinement. Not always at the same price, it must be admitted that in certain cities, average prices have been lowered a little. This is far from the majority of cities. There are many cities where we can achieve excellent average prices. On the bridges, we had absolutely breathtaking May bridges this year, the summer months were very good too. Finally, it's not at all the gray picture that some would like to suggest, I think, through ignorance, in fact, of the daily life of seasonal rental companies, and through ignorance of the statistics. Besides, if you really have any doubts and want to make sure that seasonal rentals work well in your city despite the pandemic: AIR DNA. I want to say, AIRDNA is the only tool that will ultimately give you sales figures. It's the only tool I mean. The market tools, it can be AIR DNA, or a competitor obviously, but it will give you clear and clear figures on what is happening in your city since we are in pandemic and that can only reassure you, I think.
- Alan tells me that automation is essential, but you need the right channel manager partner.
Yes, absolutely. That's a very good point. It’s true that you need the right channel manager to be able to do this. It's true that automation relies largely on the channel manager, which can automate many things if done well. You may also have peripheral tools. For example, tools for signing contracts digitally. That might help you. You may also have tools to take the deposit. It can help you too. And then if we move away from everything digital, the famous connected locks or key boxes, when possible, it also helps to automate. I'm thinking if there are other automation tools that can help. If I forget any, please let me know. Afterwards, there are also tools, if we go beyond digital and talk in the field, there are tools to avoid problems. Is this automation? Let's say yes, it can be a form of automation since in the emails, we will warn that we have a decibel detector or a camera filming the entrance. These tools allow you to avoid having parties or avoiding prostitution. The decibel detector in the apartment allows you to have an alert on your phone as soon as the decibels exceed a certain threshold, and so you know that it is most likely a party, or there is something happening. thing. This allows you to react very quickly. And the camera will, in fact, deter passage. So it can be for parties, but it also works very well in the case of prostitution, because obviously, the people who prostitute themselves don't want us to film the arrivals and departures of clients all night or at all. the day.
Alan asks me: “Do you know if Beds24 is effective in terms of customer notification messaging/automation? »
Yes, Beds24 has an automated email system which is programmable, which works very well to my knowledge, and which allows all emails to be sent automatically for travelers.
So. Look, I don't have any more questions. Thank you for being with me. Thank you for always being more numerous. I say it every time, but it's true that the numbers increase each time, so I thank you for your trust, I thank you for being with me Live. It's always a pleasure to be able to chat together, so thank you for your loyalty.
Alan asks us another question: “Automation: MINUTE to manage noise, temperature, humidity, presence… The camera is complicated when it comes to respecting privacy. »
The camera is complicated in common areas. We are not allowed to turn the camera towards the door. So we only have the right to direct the camera only on the outside, and it is certain that if it is a co-ownership, it is complicated to position, because it must be authorized. It's easier when it's an individual house or when you have the investment property and you own the entire building. And in fact, for the respect of privacy, you are right, it absolutely must be — I think I didn't specify it, it's a very good point — it must be positioned outside the apartment is oriented towards the outside of the apartment so as not to film the interior of the apartment, which is not legal, in fact for the respect of privacy.
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