With the amount of time and effort that goes into a fully furnished property; the inventory lists, the often short-term tenants and the noise complaints of those holiday lets, are you charging the right amount to cover all the extra hours of work?
When taking on new business, weighing up the time and admin costs versus the income stream they produce can be the difference between a tidy profit and digging into profits from other parts of your business.
Ensuring you have streamlined procedures for check in and check out, efficient and reliable trades including cleaners and have the landlords in line with your repairs and maintenance policies can all factor into your bottom line.
Detailed inventory lists with quantities, brand, serial numbers, condition, age and colour as well as supporting photos of each item, can save huge headaches at the end of the lease and ensure a quick vacate procedure with less argument with the tenant about what’s missing and who is responsible for items which are lost or broken.
On the other hand, having the landlord understand different items shelf life for fair wear and tear can also be of benefit to your service level and your landlords expectations, where linen and sheets may only have a shelf life of 12 months, items such as cutlery may have a shelf life of 7 years.
Remember: not all business is good for business, so ensuring you have the procedures and the staff in place with the ability to take on this type of business could make or break your profit lines.