Or possibly you’re in the position where all the income you do receive from your rentals is spent just keeping your property in a decent
The truth is properties require loads of money to maintain. And these days, it’s really not easy to fetch a good price on the sale of your property.
The truth is the property market in the DR has changed dramatically in the last two years.
So how can you improve your chances of success by up to 80%? – By completely renovating and refurbishing of your property to meet the latest consumer standards, and thereby converting it from a liability into profitable business.
This, however, requires hard work and dedicated effort. It requires experience, specific knowledge and expert skills. But if you so successfully address these issues, you stand to double the profit margin on your monthly rentals. Furthermore, you can potentially boost the value of your property by 30-40%.
This deck is dedicated to making property owners in the DR aware of the economic upside of addressing their property and hospitality management issues.
According to Caribbean-tourism-development and the Oficina Nacional de Estadística, the 6,151,435 tourists who visited the DR in 2015 generated more than 6,5 billion dollars in revenue. Of that 2,7 billion dollars was spent in the Punta Cana Area alone, according to statistics from Master Card. More recently, the Dominican Republic’s administration announced that it aims to increase the number of annual visitors to 10 million by the year 2023.
Just imagine how it would feel to receive two times the current rental from your property and at the same time increase its resale value by at least 30%. All this and you still get to select your tenants or buyers. And you get to decide when it suits you to rent out or sell your property. There are many buyers out there just looking for cozy, comfortable, ready-to-use properties or looking at properties that have the potential to generate an additional income stream.
It is an ongoing challenge not only to rent out a property, but to sell it timeously and for a competitive, market-related price if so desired.
Are you aware of the fact that a cleaning personnel manager should spend at least 80% of his/her time working alongside his/her employees?
And that when a property gets a negative reputation it will cost you at least 40% of your generated profits and at least six months of intense effort to restore it?
Over the last two years the booking systems market has changed dramatically, and become far more complicated. Said booking systems now accept only top quality photos and precise descriptions, and each system’s management has its own idea about how best to promote your property to number one on its list. Furthermore, there are a lot of new players, cheaper rates and a mind-boggling range of possibilities available for renting out your property.
Complete Hospitality Management is a technology and personnel management solution for property owners and co-owners who are dissatisfied with the performance of their investment portfolio.
Complete Hospitality Management provides you access to the best booking and automation systems in the world. This solution offers you three major benefits.
First, it will maximize the rental income potential of your property
Second, you will receive a single report summary from all your accounts
Airbnb, which originally left its pricing to the discretion of its hosts, has more lately spent a significant amount of effort on developing a structured pricing model. This decision followed on feedback from users who were experiencing difficulties setting the right price point for their listings. The predictive pricing algorithm provides hosts with a recommended price for their listing depending on a number of factors, including room style; property type; number of reviews; guest capacity; location; seasonality; pricing of other listings; hotel and airline demand; and even temperature fluctuations at the given destination.
Ever more consumers are seeking authentic travel experiences unique to their chosen destination. Part of the appeal of the shared economy concepts has been its ability to cater to these specific desires. Given the diversity of unit locations in the particular markets that companies such as Airbnb serve, consumers are now able to enjoy a differentiated experience, for example, by staying in local neighborhoods that don’t feature traditional hotel accommodations, but do offer unique amenities.
Looking ahead, both emerging and traditional hospitality platforms must adapt to changing consumer preferences; cater to various consumer segments; and engineer loyalty programs, all of which will drive future growth.
Our approach at Complete Hospitality Management is truly unique and innovative. We adhere to the highest hospitality industry standards and our super-efficient team is committed to bringing our clients only the best options from multiple booking systems.
It is certainly not easy to connect all the dots and create a system that works flawlessly. That’s why so many companies in this particular sector are failing. What we have managed to achieve with the help of our extremely capable team is no mean feat. In addition, it’s vastly different from the stale solutions currently available to the DR property market. Many of our predecessors tried and failed, and we are well aware of exactly why they did not make it. This business is not easy, considering how rapidly and dramatically it changes with each passing year. It requires dedicated focus; up-to-date knowledge; hands-on experience and sophisticated technology to make it work. We know how to organize your property and personnel as we’ve done it before. Granted, our Complete Hospitality Management solution is unique to the DR, but with our proven track record we guarantee we can produce real and positive results. What we provide is an innovative and premium booking service that will achieve excellent results, and bring you:
Average revenue per month: $5,309
Expenses, including complete hospitality management and electronic systems: $1,858.15 (30%)
Owner was not involved in operations at all Monthly profit: $3,450.80
Revenue per month: $1,500
Expenses, maintenance: $150
Monthly profit: $1,350
Investment in property: $203,585
Property price: $185,000
Additional investment in furniture and equipment before rent: $18,585
Property was sold for $270,000Owners opted for a quick sale to generate capital for retirement.
Profit: $270,000 - $185,000 - $18,585 = $66,415
Revenue per month: $1,211 The property was rented out for an average of 20 days per month at $60 per day. The owner opted to manage the bookings himself to save an additional 10% on his CHM commission
1. Initial conditions
Revenue per month: $500
CHM’s property management commission: $302 (25%)
Annual profit: $3,000 versus $9,060 (3 x increase)
Investment in property (before choosing CHM): $11,262
Complete hospitality management of your property at the cost of just 30% of your monthly revenue, offset by an
expected increase of 2x-3x in your monthly rental revenue.
If your property is in perfect condition and up to luxury standards, and you simply require automated management, including electronic systems and reputational management, it will only cost you 15% of your average monthly revenue, once again offset by a typical increase of 2-3x in said revenue.
Please note our conditions are non-negotiable. We are in the process of selecting those property owners we are willing to work with. To be considered as one of our elite partners, we will require full disclosure regarding your property, and to ensure you are compatible with our company’s conditions.
We understand the hospitality sector, and we know how to successfully manage rental properties. We have done this all before.
That’s why we can guarantee you’ll have:
You can always contact us via email firstname.lastname@example.org
Or VIA the phone +1 849 763 9881 (Whatsapp + Facetime+Viber)
What we do here is completely different from everything else.
If you care about your stay and want to have unbelievable emotions for the fair price, that’s what we stand for.
Look at our references. Look at our photos. We are in the hospitality business, and we really know that we have the best properties with the best services in the best area. We are unique.
If someone is just looking for the cheapest options, we don’t do this. There is a lot of different places with mediocre services, dirty apartments and lack of security. We don’t do this.
But, again, if you care about:
1. The best beach and front line.
2. Good service.
3. Security 24/7
4. And clean lovely apartments, then come, stay with us.
Thus, you can have the best emotions, have peace of mind and truly enjoy your stay.
We know every inch in this county and everything connected to the Dominican Republic and Hospitality management, so we can organize any kind of events and activities for you. You can totally enjoy yourself and have an unforgettable, exciting experience.
But again, everything is in your hands, so make the right decision for yourself!
The host who really cares about what he/she does. To find a great host in the Dominican Republic or in Punta Cana in particular it’s a serious task.
Imagine yourself in the situation when your AC is not working. It’s super hot. You are sweating. You calling your host and sending messages and he/she doesn’t really care about what is going on.
Especially in the Dominican Republic, you should find a host who really cares. And ready to fix anything 24/7
You are going on vacation and you want to enjoy it. Now imagine the situation that you have some bed bugs. You cannot sleep. Sheets were changed three times and it doesn’t help. You are scratching your body constantly. You cannot sleep properly.
Now let’s imagine the situation. You rented the apartment and now you have some skin infection. You are at the hospital. You need medicine and you have no idea what is going on, and what kind of treatment you’ll have but your medical bill is already over $500. You think that I am making this up? Unfortunately, this is a real story. We took out our dear guest Jim from a big international hotel, where he had food poisoning and nobody can really help him. And that’s where we can go to paragraph number three – how to o Be like local.
* check the reputation of some local clinics in Latin America. You will be surprised to know what is the reality.
3. Local guidance.
It happens to be true that if you have a local knowledge you are in big advantage. All local hustlers are trying to cheat you. Nobody likes to be cheated even if we talking about two dollars.
So this is really important to have some local guidance to know where to go what is good and what is not so good. Not only relying on TripAdvisor reviews. You’ll have immediately the list of the best places, specific interest like salsa, excursions etc.
*You still have an option to lock you in at all inclusive and see only your hotel. They do everything so you stay in a hotel!
Of course, we are not only one Company that provides Hospitality Services in the Dominican Republic. But