Property management companies (PMC) help owners manage their properties for a price. However, fees paid to the management company vary based on some factors such as property type and services provided by the company.
For many, the low season means a decrease in activity and therefore a decrease in bookings and income. However, here in Barcelona, this is not necessarily true. Indeed, even if we can observe a slight decrease in activity, the low season remains very active compared to other city. Moreover, if you manage it well, you can reduce a lot the difference between high and low season.
Guide: making sure you maximise your profit all year round
Setting the correct price for your apartment, room, house or whichever establishment you decide to rent to the general public, is extremely important. Forgetting about certain overheads could leave you short for cash, or even in a position where you are experiencing a financial loss. We want to help you to avoid this!
As the owner of a rental property, your main goal should be to maximise your profits, but how do you do this without charging your tenants an absurd rental price?
The rent that you collect from tenants pays your mortgage, taxes, insurance, maintenance and building your reserve fund for bigger repairs. In the end, after paying all of the expenses associated with the property, you hope to have money left over to compensate you for your time.
Owning a holiday rental in Barcelona sounds great. It is indeed a good investment. Did you know, however, there are some hidden costs to owning one? Yes, doing a good job at revenue management is a big part of the success of your holiday rental. What hidden costs are there for you to take into account? Let’s dive into this matter.
Seasonality is a determining factor in the tourism industry, as businesses are faced with the challenge of managing social, financial and environmental pressures. Seasonality causes a peak in demand throughout various times throughout the year. Climate change, big events and national holidays are some of the main factors that influence seasonality. These elements can have a positive or negative impact on the tourism industry depending on how they are managed.
How seasonality in BCN affects your holiday rental revenue?
Damage deposits can be a tricky subject. Especially for a holiday rental. Although, there are a lot of pro’s and con’s to it, it is a part of your revenue management. Whether or not you have to implement deposits is completely up to you. This list is just to help you figure out what best fits your needs.