Joyce’s Story
Joyce owns a beautiful 4 bedroom in the Fisk/Meharry neighborhood of Nashville and had been using “the other guys” to manage it until February of 2023. During our initial conversation, she told me that she hardly had any bookings at all for March or April of that year, but things were looking promising in May where she had about $10k in revenue previously booked. Check out the listing here.
In many markets this might sound “successful”, but in Nashville, a 4 bedroom listing should be grossing at an absolute MINIMUM, $6-7K in revenue during the months of March and April.
She told me she wanted to drive more revenue and would consider a change, but that she was afraid that in doing so she would lost out on the $10k in revenue already booked for May of that year.
What boost did to help Joyce
During our discussions, I sent a few key pieces of information her way.
I sent the booked revenue numbers for March, April and May across all of my properties. It was easy for her to see that we had already booked on average, about $20k in revenue for the following 3 months on most of my properties
I forecasted the revenue I thought I could drive through a better pricing strategy. It was clear to me that the pricing strategy of “the other guys” was just wrong. I told her I could drive $6k, $7k, and $10k, in March, April and May, if she switched to me as fast as possible.
After these discussions, Joyce made a quick decision, cancelled her contract with her old company, signed a contract, and we started moving forward at a lightning pace. Within about 72 hours we did all of the following things.
She stood up a new Airbnb profile and built a ghost listing
My team built the listing from top to bottom, optimized picture placement, made the text more appealing, and included important details that would help guests choose her home
I updated all of her pricing, and we went live right away
Her calendar started filling up, quickly
As the reservations were flying in, my team was busy preparing for her first stay. We performed some essential preparations with of her home. My maintenance team did a walkthrough and switched out her front and back door locks with the kind that integrated in to my systems. My cleaning team performed a deep cleaning, got themselves organized in the cleaning closet, and built a supply inventory that my team ordered and stocked
We were ready for next guest within about a week. Over the next several weeks we pushed hard to have occupancy, build a review basis, in turn, further pushing up her listing in the search results
Property Performance
Joyce has been a client of mine for the past 9 months. We met all the forecasted revenues that I generated for March, April and May of 2023. This is a net swing of +$13k in revenue from what she had on the books during that time. She also had a VERY successful summer!
She’s now looking to buy 2 more homes in the Nashville market. She feels confident in doing so knowing that I’ll be her to manage her unit.
