Homeowner and Market
Laurene and Marcia live in San Antonio, Texas and work in the medical field. Though they have busy schedules, they wanted a second home in Galveston, Texas to use sparingly and as a vacation rental. Laurene and Marcia’s home is elaborately decorated and in a highly desirable area.
At first, they chose the in-house condo property manager to manage their investment property. In over a year, the property manager had only booked their condo twice! Laurene and Marcia investigated and found that the property management company owned several units in the complex. When an inquiry would come in, their old property manager would funnel those guests into a rental the company owned and ignored Marcia and Laurene’s worthy unit!
Not only was Laurene and Marcia’s unit not generating enough revenue, their property was not being cleaned or maintained by their property management company. Earning a pittance and not having a property manager who took care of their home was untenable, so Laurene and Marcia made a positive change. They switched to TurnKey to meet their vacation rental property management goals.
Managing a short-term rental requires a lot of time, technology, and expertise; so Laurene and Marcia partnered with TurnKey as a full-service property management company to manage their rental with their goals in mind:
- Have high occupancy as soon as possible
- Obtain local full-service property management since they do not live in market
- Enjoy better care of their previously neglected property
Within weeks of beginning our partnership, Laurene and Marcia’s condo was booked up over the summer. After a quick on-boarding process, TurnKey began promoting Laurene and Marcia’s property across over 25 distribution sites to maximize potential guest’s bookings. Through our thorough marketing, quality inquiry responses, and robust revenue management Laurene and Marcia’s revenue increased. And their occupancy grew tenfold despite stiff competition with other waterfront hotels in the area. Dynamic pricing captured demand surges and off-peak bookings – an important strategy that drove up Laurene and Marcia’s bookings and revenue.
It was also of utmost importance that Laurene and Marcia’s property was protected – it is an investment for their future. Our rigorous guest screening process, noise monitoring technology, and smart digital locks, ensure that the condo is always safe. If an issue does arise, it is quickly dealt with by our local field ops team promptly and professionally.
Our new partnership has not been without challenges. When HomeAway implemented their new ranking system, Laurene and Marcia were concerned that their home would not rank highly. Their account manager worked to optimize their listing and achieve a high placement in search results. Their property has earned an “Exceptional” rating by HomeAway for having 100% 5 star reviews. Most importantly, their occupancy stayed consistently high.
After having such a poor experience with their previous property manager, Laurene and Marcia did not know what to expect. TurnKey vastly exceeded their expectations by making sure their unit is well cared for and fully booked – they love our service!
Want to learn how TurnKey can earn you more money and increase your occupancy rate? Schedule a consultation with us here.