First and to recap, since 1984 I have been involved in the short term Vacation Rental Industry around the world. A new trend that is becoming increasingly popular for families and groups of friends, wanting to experience a destination for a week or more, who would rather enjoy the privacy and comfort of a villa as oppose to a loud lobby and a small hotel suite.
Over the years we have been working with larger and larger properties, Private Islands, castles, mansions, estates etc. We have learned to know what our upscale clients expect when they rent a villa and what the properties must have in order to succeed and enjoy high occupancy. We have also learned how to maximize getting the top rental rates available.
We are experienced with the entire Villa rental market, location, location, location is key of course but also service, staff, the flow of the villa, the proximity to transportation, beaches and point of interests, are also key factors as well. We have dealt with all aspects from brokerage to developments sales, villa consultation with property developers, such as Sonesta Corporation, property owners in need of assistance with expansions, adjustments, marketing services and also developing a client base.
I have often done many modifications to a villa just to get it to where it is suppose to be. Thus making it possible for us to send some of our most important clients there. Even the most largest and lavish of villas needed so much work to bring it along to perfection.
This year, I am now affiliated with Prudential Douglas Elliman, a $14 Billion real estate company with 4000 agents, 63 offices from New York City to Montauk. I think I am now better positioned to truly make a difference. I am able to assist any developer with my expert services, as well assist in the sale, rental and marketing activities, which are crucial pieces for any project.
In the development stages, I think often the rental activity is put on the "back-burner" by the architects, designers and even perhaps developers, when in fact rental activity is a crucial factor. When someone is buying a second or third vacation home nowadays, it must be rentable, enjoyable, and well conceived as a rental income producing property, first and foremost, so it enjoys strong occupancy (32 to 40 weeks per year), good repeat business, thus satisfying the needs of the buyer and pleasing the rental client.
This is a new era where people are buying a vacation villa or resort property, wanting to see a return to offset the cost of ownership. It must be income producing or else it will not be as interesting. So upon working on a good, strong development plan, using the land and property to its best capabilities, in or order to obtain maximum return and the largest number of lots or units, I think the developer should have on his team someone like me, who would be able analyze the units, the rooms, the bathrooms, the bedrooms and common areas, terraces, views, windows, bed positioning, bathrooms, etc., as these factors are crucial for a rental client and ultimately for the owner as well.
In the past owners would build their dream villa only just to find out later that no one wanted to stay in them other than their friends whom of course stayed there for free and raved about it. Then the owners would contact us and often wondered why they have not gotten much other rentals. They would say, "I have a large master bedroom, with master bath, marble baths and 5 other smaller bedrooms, with 3 baths and it is not renting", while comparing his to the villa next door which only has 5 bedrooms, 5 baths, all the same size, but also has the additional french door versus sliding door, nice furnishing versus sporadic and weird furnishings. Basically this is why they got rented consistently and at a higher rate.
The key here is simple, one must have a professional eye and understand this rental business to the "T ". a proper property assessment is a must, review of plans, renderings, fixtures, staff needs, client needs etc., this can not be overlooked or even done at a later stage any longer, as it will be costly to the developer.
In working with my company, I would bring to any developers, hotel groups or investors considering a project or even an important acquisition, the elimination of any risk factors, through consulting with me. Anyone who is thinking of building rental villas on their grounds should consult with someone like me first. My expertise can be beneficial not only with the property, but with its layout and needs, along with it's future rental program or rental pool systems, staff, service operating expenses, contracts, local representation and or management and increase chances of success.
In addition, I can also offer my strong affiliation with Nestseekers Int. as well as my broker contacts and clients around the world. This is truly a real package deal, a double or triple or even a home run, 3 services in one, a real marketing machine.
I am also able to look at any rental program or property that is struggling, any development that is not selling and perhaps help with its reorganization, marketing, rental program review, splits, commissions, brokerage participation etc..
I look forward to hearing from you and do feel free to call with any questions you may have.