Property Management Companies: Vacation Rentals

Transcript

This episode is dedicated to talking about property management companies, specifically the market working with vacation rentals which have been growing industry due to the introduction of companies such as Airbnb, HomeAway, and Vrbo.

Andy and Jessica are bringing the experts who share great rules of thumb with regard to this industry. People are currently looking for professionals to manage their properties, especially small property management businesses. These companies have the ability to create an experience for the customer being that it’s crucially important to turn the guest into a recurrent one, also benefiting from the positive reviews a satisfied guest would extend, which will end up being what would bring more guests to the property.

Property management companies take care of all the difficult tasks involved in renting a property, such as cleaning, maintenance and taking care that the guests are actually behaving according to the rules of the building or neighborhood.

If you are a seller, this might be the best moment to do it, since the industry has been growing exponentially.

Listings of the week: James Knox (South Florida). Screen printing business working for the past 15 years with a great reputation. Sales: $1.2 million annually. Price: $899,000. Owner Benefit: $250,000. Prequalified for SBA loan. Excellent customer service. Brand new equipment. Great growing opportunity. Call James Knox at (161) 329-0384 or email at [email protected]

Key Takeaways

[8:40] Michael Shea (Central Florida). talks about Vacation Rentals.

[9:55] The evolution of the Vacation Rental business.

[11:00] Michael Shea explains the mechanics of the property management business.

[14:49] Who is buying these businesses and who runs them?

[17:01] You can create a really good value selling a Property management business.

[18:44] Deal of the week: Rupesh Bharad (Richmond, Virginia). Franchise of College Hunks Hauling Junk and Moving that was in business for 15 years. Price: $180,000. Cash Flow: $150,000. Bank financing was involved.

[23:37] Sarah Riegelhuth is one of the investors in Love My BnB, a vacation rental management company.

[29:55] The vacation rental business is growing.

[32:03] Sarah talks about the benefits of buying a company instead of starting it from scratch.

[34:55] Sarah shares how important it was to have a marketing budget.

[35:55] How the deal structure works in Australia in comparison to the U.S.

[38:16] Sarah talks about the biggest lessons while starting in a new industry.

[42:45] Listing of the week: James Knox (South Florida) Screen printing business working for the past 15 years with a great reputation. Sales: $1.2 million annually. Price: $899,000. Owner Benefit: $250,000. Prequalified for SBA loan.

Mentioned in this Episode:

The Deal Board Podcast

United Franchise Group

Transworld Business Advisors

Transworld on Linkedin

Transworld on Facebook

Call us —(888) 711-9018

Email us [email protected]

Call Michael Shea at (321) 287-0349 or visit YourFloridaBusinessBroker.com

Call Rupesh Bharad at (804) 399-0870 or email [email protected]

Email Sarah Riegelhuth at [email protected]

Sarah Riegelhuth on Instagram

Call James Knox at (161) 329-0384 or email at [email protected]

Mentioned in This Episode

• The Deal Board Podcast
• Transworld Business Advisors
• United Franchise Group
• Transworld on LinkedIn
• Transworld on Facebook