Rental Enquiries
Sunday, March 16, 2008 @ 1:12 PM
I have to admit the rental enquiries have slowed down lately, which can be a worry. They are still coming through but not to the quantity that I would like, some apartments are proving to be more popular than others and are really winning the race in rental weeks booked. Other apartments are seriously suffering due to location but now it seems that holidaymakers are being more specific on what they want even in the good locations. The apartments with low grade furniture are being overlooked for the ones with style.
So what is going on… the absolutely awful GBP/Euro exchange rate for starters… it is currently the lowest it has EVER been. 1.24 on the streets of Gibraltar the other day. I remember the days it fluctuated around the 1.4 - 1.45 rate. Also I was reading an article in the Resident paper yesterday about the Credit Crunch, how the problems in America have affected other global economies and basically banks are tightening their belts, the word is don’t spend – pay back debt. So against the backdrop of economic uncertainty I have to find a way to rent our holiday apartments to maximum capacity!
Luckily we do have a stream of returning clients – thank goodness, but how to bring in new clients when the British market has slowed down. I was lying in bed thinking about this, this morning. How sad is that, Sunday morning, should be a day off and I am contemplating how to bring in more enquiries!! I am going to research the European market – simply because there is no exchange rate issue to worry about. We have an owner who is Norwegian and she rents out her property privately as well as via us, but I have to say she does very well. We currently do have enquires from the French and very occasionally the Spanish but not enough, so agenda for next week – research!..