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Going it alone simply isnt an option when you opt for short lets.
You often hear that being a landlord is a lonely business, and it is true that you can"t share your worries with just anyone (it is, after all, a bit of a first world problem to moan about property ownership).
If you take the step to move into Serviced Accommodation or holiday lets, going it alone simply isn"t an option. There is far too much to go wrong, Today (Sunday) I woke up with nothing pressing to do, I checked my email and bang! It"s 3.15pm and I have only just sat down.
Late departures were clashing with early arrivals and room preferences; An inexperienced cleaner who ran out of time and doesn"t have a car to pick up bags of linen. I am also experimenting with some home automation but I don"t trust it yet so that all needed double checking as well.
The key to coping with this is to develop a network of Very Useful People. I am blessed with a helpful husband and an independent minded son (insert food x3 daily) without whom it would be very hard. I have an assistant who is quickly learning the business and stepping up to manage areas that pull me away from the critical business of growing the business.
As well as the family, I have gathered about me a great group of friends and colleagues, both real and in online communities. These folk help me out with queries and tips, bookings and over-bookings and all manner of useful information. I am really grateful to live in the digital age where we can tap into communities and interest groups all about any subject at all. I was quite excited this week, I have decided to go to a conference all about Serviced Accommodation where I can hopefully find some of the online talking heads that have given me so much good information, to help me to grow my business, over the last couple of years. My real-life network, the gang at Southsea SA (find us on facebook) are always there for each other busy solving everyday problems.
The gurus call the important bits the IGTs (income generating tasks) and KPIs (key performance indicators). The theory goes that the person in charge (that"s you), needs to spend their time on these things. Once you have identified what it is in your business that generates the most income, and how to measure it you should focus on these tasks alone and delegate most other things. That is the theory. Having just spent 2 hours folding and counting bedlinen, I will let you know how that pans out for me…
Question of the day:
Can a guest vape in a bedroom? Answers on a postcard please….
Written & oral information and advice from the Portsmouth & District Private Landlord's Association is given in good faith, but no responsibility whatsoever is accepted by the Association or it's officers for the accuracy of it's information & advice nor shall the Association be held responsible for the consequences of reliance upon such information.