Having a one bedroom flat in Bath just 10 minutes walk into the centre is a wonderful opportunity. Hugo’s one bed sits in a former Georgian townhouse. As he works in the film industry he regularly travels abroad. That’s the reason why he would like to rent his property. However, he would also like to be able to stay at the property as and when he needs it.
The apartment
- Location: Bath
- Surface area: 648 sq ft
- Start of management: June 2019
- Type: 1-bedroom flat
Visibility of his earnings and being able to plan his month was his main concern
Hugo previously used to leave his home empty whilst he travelled. As a result, in addition to his travel cost, he had to cover for the bills whilst having no rental income. However, he had recently found out about a way he can have the flexibility of access to his property, whilst finally earning an income.
Indeed, where long term rentals would not suit as he needed to be able to return home, renting for short term and holiday stays would allow for this. He only had one issue with this solution. He would definitely not have the time to think about linen, guests communication and check-ins. Hugo reached out to Nestify for full comprehensive property management.
The implementation of a tailor-made strategy
After a consultation with a Nestify sales manager, Hugo’s objectives were clear:
- Access to a Host Dashboard to view and manage his calendar availability
- Full management of the property and guests
- Maximise rental income whilst he was away was to help cover property costs
Upon signing up, a dedicated Property Manager guided Hugo. They went through the steps to have his property listed well in advance before his departure. Professional photography and staging made sure his property stood out. Furthermore, he was comforted knowing that we would look after each guests with our International Guest Communication Team. And that they would be supported during their stay.
The Host Dashboard gave him great insight into his earnings. In addition, with the visibility to his future bookings, he could plan stays for his own use. He could see all booking on one calendar, no matter which platform his property was booked on. Which was simple and easy to view and manage.
With the use of our unique dynamic pricing management, his rental income was also maximised. Each factor such as supply & demand, seasonality, and events in the area were considered by Nestify to increase returns. Bath Fringe Festival, and the festive Bath Christmas Market gave strong uplifts to his nightly rate.
Surprisingly straightforward and profitable
Hugo was surprised that, after just 6 months of using the service his property in Bath had exceeded his expectations. With an average occupancy of 86% across his time with us so far, his property has been very successful. A property that was previously left empty during his travels, has now generated over £14,800 rental income in 6 months. Averaging £2,476 per month.