LocalVR's 4 Pillars of Preserving Property Value
Preserving the Value of Short-Term Rental Property
As owners weigh options for their rental property, there's nothing more important than preserving its value for years to come. All things considered, owner earnings are only as sustainable as their property value. That’s why LocalVR strategically focuses on investing in resources to reduce wear and tear and optimize your revenue potential.
Through years of experience, LocalVR has built a foundation to combat devaluation of our owner’s short-term rental properties and earn them more passive income in the long run by building on a strategy we call The 4 Pillars.
What Are the 4 Pillars?
Overall, we look at this strategy through the lens of an owner and ask ourselves – what is important to an owner? The answer is simple: lower the costs incurred from renting a property while maximizing its revenue potential, or in even simpler terms, maximizing profit. Focusing on this one metric is the LocalVR difference.
These pillars are the LocalVR difference: ensuring guests are satisfied and caring for your property in such a way that its value is retained even while generating rental revenue.
A Closer Look
It's time to break down each of these pillars. The LocalVR difference is not just about preventing damages or wear and tear–it requires an all-encompassing outlook to ensure owners a return on their investment and preserve the value of their vacation home for many years to come.
1st Pillar: Team
The first pillar that upholds LocalVR’s property preservation strategy is investing in the various teams of experts who make up each of our divisions. By paying well, having clearly defined roles and responsibilities, and creating a great culture, our employee turnover is low.
And because of our low employee turnover rate, LocalVR is not only able to keep overhead costs down allowing us to put more of our resources back into the properties we upkeep, but also strengthens the relationship between our team, our owners and their properties. Overtime we will know your property inside and out and also understand your needs as an owner.
2nd Pillar: System
The second pillar that upholds LocalVR’s foundation for property preservation is having a well-oiled system that maximizes profit. This doesn’t just mean increasing top-line revenue, but also bottom-line revenue. This is made up of the ways we advocate for our owners and facilitate high-quality care of their properties, including an optimized revenue management strategy, thorough guest-vetting, measuring the quality of our service, white-glove cleaning services, post-checkout inspections, and proactive owner communication.
3rd Pillar: Technology
LocalVR has created a cutting edge software suite focused on improving our management services quality. From our multivariable dynamic pricing algorithm that considers every factor of historic and market data to determine the best price for your rental, to a transparent owners portal, to a thorough post check out inspection app, we’re constantly adding and improving our technology stack to take care of your property better every day.
4th Pillar: Value Alignment
By understanding what values are important to homeowners and guests, we’re able to focus on constantly improving our management service.
As long as our values are aligned with our owners and our guests as fairly as possible, we establish mutually beneficial cycles of success. With every turn of the cycle, LocalVR invests back into our 4 pillars.
Preserve Rental Property and Profits with LocalVR at Your Side
At LocalVR, property preservation is more than just a value–it is the very foundation to the success of our clients. Maximizing profit in the long run is not an easy feat, but with so much data and evidence to back LocalVR's four-pillar approach, owners see the results they are looking for. Even if you've had doubts about hiring a property manager in the past, know that LocalVR does things differently, and with our pillars as an underlying driver, there is nothing but success on the horizon!