Property Management

 Hi 

I am currently working on a business plan to set up a property management and cleaning company. I believe I have already put together a good range of services to offer and probably amongst some of the most competitive on the Costa Blanca even compared to locals operating 'under the table.

Anyway what I would like to know is what services apart from the obvious, would people like to see offered? 

All suggestions will be gratefully appreciated as I am trying to offer people what they want and not just my perception of what they want. 

Thanks

Hi Adam - you will find it very difficult to make a living in property management here on the Costa Blanca. 

As you are clearly aware, almost everyone does a bit of renting and keyholding, and some just for "pin money", so you will never be able to compete on price with those people.  They also have a personal relationship with the owner and tend to live in the same street. 

Also there are many "dodgy" companies who let out properties without telling the owner, and they then pocket the full rent, so most people looking for a property manager will choose a company by personal recommendation - which is a real problem for a new start-up company.

As for services, I offer Avon welcome packs for agents and individual owners / renters, as people can't carry toiletries in their hand luggage these days and hold luggage is so expensive, and a friend includes a car in all their rentals with airport pickups thrown in.  Wifi is another option worth exploring, either through a dongle or getting the owner to install a system and then working it on a pay as you go basis.

I don't think there is much more that people need, other than the obvious. 

Best of luck with the new venture!

Hi Adam, My first reaction was '' Not another property management company'' when you asked the question... what do people want?

But like anything if you can offer a professional, reliable service and maybe something different to go with it, you never know, with a lot of hard work and effort you could make it work.

Look at the management companies who are doing well, use the best of what you can see from each one and put it together with your own ideas

Not every one goes by price so think of a different angle do lots of research and give it a go.....good luck.

The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.
Henry Ford

Hi Adam,

If I can concur with redsam79 far more important than what you do is how you do it. I have spent many years as an entrepreneur finding that out. Obviously find something to which your temperament is suited and use your imagination on how to find and satisfy customers...or as I think of it how to make yourself visible to people who are already looking for you.

I believe there is a real opportunity for people who are not just honest and wanting to give good value but also who are open and transparent on their websites and in general. There is a new way of doing business which is creative collaborative and involves having total integrity with your clients. We are transitioning away from the old way of doing business which is competetive, manipulative and about doing sharp deals. The old way of doing business is still in the majority and thats why theres an opportunity.

Most people are stuck in the old way of doing business and they cant get out because it means re-conditioning years of being fearful of your competitors and mistrusting your clients. So if you "get" this you will see a huge opportunity.

Never before has the client been so powerful. There are no secrets anymore. You can research anything on the internet within minutes or hours, speak to experts and exchange opinions with people who have been before you. So who are you going to favour when deciding who to do business with? The person who gives you the most information about what they will do for you and how. Why? Because you trust them more.

Thats the opportunity. Whatever you do tell everyone exactly what you are are going to do, and how, and make sure you genuinely have their interests at heart when you provide to them.

The competition wont get near you because even if they see your success and have a go at imititating you unless they change their fundamental attitude to the new way of doing business, which is tough, people will always favour you.

I'm not sure if this is the kind of advice you were looking for when you made your post but there it is. Good luck from one entrepreneur to another.

John

 I would like to thank all who have replied, Im a firm believer in there is good to come out all advice if taken in the right concept. I strongly agree with the comments made especially that its not what you do but how you do it. This is something that is of high priority, as well as being committed to giving the highest levels of customer service as I do with my other ventures.

Once again thanks. 

I think you need to try and move up market and find wealthy clients with big villas.

Then you must deliver on your promises.

Hi adam4898
Good luck to you mate and definitely worth a try.

I am currently in the process of setting up a management / holiday rental business. Reason I am doing it is from a bad experience of using a management company. This is not a fly by night thing for me, I have been researching nearly every company I can find on the net all over Spain and also the US to see what they offer and reading feedback from owners on various message boards about what they were looking for, bad experiences, good experiences etc. What has suprised me the most is so many 'companies' in Spain seem so unprofessional just from the look of their websites.

I have put together a plan of what I know can be offered and at a good price. I was originally going to hire a designer to setup a website but at 700€ for a professional site I have had a crack myself and have nearly completed a fully functional website. I believe that this is important, while there are some great sites out there I have found so many Agency Websites look like they have been put together on MS Word with little animated gifs - one look at these sites and I would continue browsing so definitely dont go down this route, if you cant do the site yourself and designer prices are high then search for a Designer For Hite in India they are fast, efficient and well worth a couple of hundred US$. 

Main points I have concentrated on to generate interest have been

Professional Website with full search facility of properties
24 Hour Online Booking (this was the owner can tell what weeks are booked and if you let the property illegally then you could be caught out when real booking is made)
Registration of FIM to check on bad tenants
RBS Worldpay Payment Gateway which gives customers a little more peace of mind with the protection this has and also so many people pay for a holiday or their management service with a credit card, plus allow monthy direct debits.
Paying for advertising on true holiday sites for the short term rentals and not relying on local magazines, free ads etc - with the new International Airport due next year (hopefully) there is a real opportunity to grab visitors from all over the globe.
A complete holiday service for guests
My contracts are currently being drafted by a solicitor (so many agencies do not keep up with changes to Tenants law)
Password protected area for owners for them to view their property reports with regular picture updates (another security against illegal letting)
I have made agreements with registered local tradesman for plumbing, electrical, pool repairs etc to use them exclusively when needed and I have managed to negotiate some good discounts. I wont be making anything from this so getting the best deal in price and quality for owners was my goal.
Also have arranged with a Broking House for discounts on Home/Holiday Insurance, this one I will make a slight commission but owners dont have to take up any offer.
 

I am still researching various things and currently have two furniture suppliers and one satellite suppliet I am dealing with to again offer a discount to current and new owners - whether these come through I dont know.

Of course all the above is good talk and worthless if I cant keep promises but after being burned by agency in the past I know what its like for the owner to trust someone with their investment so their property will become mine as far as I am concerned and will be looked after as such.

Hi Hammer,

Looks like you have done your homework, hope things work out for you. What area are you in?

Just a thought, but with you hiring outside help, i.e. plumbers, electricians etc. just remember your company is only as good as it's worst employee, and if they let you down that will not reflect on them but on your company. Similar if you grow and start using secretarial staff, management staff etc, your companies reputation can rely heavily on thier deeds, so keep on top of them.

''You're only as good as as the people you hire''.......Ray Kroc-founder of McDonald's

Good luck to both of you.

You might even think about getting together even if informally for brainstorming. It can be a lonely path on your own.

I thought what Hammer100 wrote was excellent because they have shown their not afraid of sharing and that knowledge isnt power - its what you do with knowledge that counts. Ideas are free. Many people mistakenly think they should get paid for having an idea.

When you share what you know you become attractive. I feel like finding out about his business and I dont even need a property management service!!

By the way iqbusinessexchange.com will take your calls for you inexpensively. Dont put a mobile phone on your website. Nothing shouts amateur more loudly and dont rely on an answering machine - same reason - its very offputting from a clients perspective.

I'd be really interested to see how this develops.

Cheers guys.

The tradesman issue could be a possible problem but for a plumber I have two guys that worked on my place and did a first rate job and I only used them on a recommendation. For the other trades I have listened to what people have said and if we do encounter a problem then the buck does stop with me and may leave me out of pocket for a bit while the problem is rectified. Property Owners of course will have the option to use who they want but our contract will stipulate that any work carried out by tradesman booked by the owner will be there responsiblity, while we of course will supervise etc we will not be able to guarantee anything.

John, the phone number thing is something i do find to be annoying myself when you only have a mobile especially when it is off during business hours. I have a spanish landline and will be having another line fitted which will have a UK number so that may be a little incentive for UK based owners, also when there is no-one around to pick up the landline I am looking into having the calls redirected to the mobile, same for emails as personally have always been a stickler for answering emails as soon as possible even if it is just along the lines of  'working on will get back to you in an hour'.

ps. sorry adam hijacked your thread a bit here