Pillar 4: How We Align Our Values to Build Long-Term Success
A Long-Term View for LocalVR
At LocalVR, we don’t just look at the short-term. Instead, our view stretches out far longer than that–we strive to establish and maintain relationships with our clients through the years, not just for a few months. In order to create that kind of connection, the 4th pillar of the 4 Pillars of Property Preservation is our commitment to Value Alignment. Aligning our values with our owners and our guests helps us provide a sense of satisfaction to those who have entrusted their properties to us.
Today, we’ll explore how we uphold the 4th pillar, Value Alignment, by cultivating long-term partnerships, building cycles of long-term success, and reinvesting back into the other pillars to improve at every stage we can.
The Importance of Maintaining Long-Term Partnerships With Our Owners
When someone invests in a piece of property, they aren’t hoping to find a management company who just wants to help them in the short-term. With money like that on the table, owners are looking for a company that will build up successful and long-running partnerships that will stretch far into the future.
At LocalVR, that’s something we’re always striving for–to provide a sense of longstanding value for our homeowners and to always improve our processes when given feedback. We want working with us to feel effortless and easy, so that you can get on with your day-to-day life without the hassle of having to worry about every aspect of your vacation rental.
Profits in the Long-Term
Building lasting partnerships is just more profitable, period. But not only that, creating these long-term relationships is easier on our owners, because we are not incentivized to squeeze every ounce of short-term profit that we can out of them. Instead of nickel and diming our clients for silly charges and fees that we can easily cover, we’d rather focus on creating a connection with our owners. In the end, a longstanding relationship will benefit both us and our homeowners.
In order to maintain owner satisfaction, we establish cycles of owner and guest success. As the wheel keeps turning, everybody is happier with their experience, and in turn, revenue is always pouring in.
Owner Success
Owner success is our number one priority at LocalVR. We are always investing heavily into the upkeep of our properties, which helps us to keep owners satisfied as well as to build long-term partnerships. This spins the wheel of the cycle of owner success because the longer we work with a client, the more resources we have at our disposal to continually reinvest back into our services for guests and owners. We never stop improving the way that we do business, and that pays off for the property owners who work with us on a daily basis.
Guest Success
Cycles of guest success, which also bolster owner success, start with LocalVR investing time, energy, and money into property preservation. When a property is preserved and in working order for each stay, guests will feel at home and leave better reviews. If guests are happier with their stay, ratings will then go up, and owners are able to charge an even higher premium for each night. All in all, the cycle of guest success leads to more revenue for owners as well as more resources for us to invest back in the 4 Pillars.
Reinvesting into the 4 Pillars
As long as our values are aligned with our owners and our guests, we establish cycles of success by maintaining profitable and lasting partnerships. That success is then fed back into each of the four pillars to further extend our resources, improve our processes, upgrade our technology, and ultimately, continue to uphold our property preservation promises to our owners.
By pouring more and more time, resources and energy into these pillars, we are always striving to improve upon what came before. We aim to uphold and further strengthen the foundation of LocalVR’s strategy, which is to ensure that our properties hold long-term value and continue to be successful investments for our owners.
Preserve Your Property Investment With LocalVR
Investing in real estate isn’t just a short-term purchase, especially for those looking to turn their properties into vacation rentals. That’s why LocalVR is so committed to value alignment. Over the long-term, aligning values with our guests and owners allows us to provide lasting benefits to the homeowners who work with us. By always striving to improve guest and owner experience, we know we can’t go wrong.
We’ve gotten our method for preserving properties and enhancing owner success down to a science. To find out more about LocalVR’s expert property management services, take a look at our Program page.