Otherwise, drop us a line at email@example.com, and we’ll take it from there.
To this day the team is composed of 12 full-time people, plus about 20 seasonal workers (primarily for check-in and assistance).
If all is sorted, the handyman and the person who will do a “Quality control” (check whatever small item may be missing – usually kitchenware), will have a second look at the house, to anticipate any possible technical malfunctioning and prepare a “house manual” with all the answers to anything which might go wrong.
We’ll then look into any possible suggestion for wasting less money on bills: for example in case of autonomous heating systems, we strongly suggest installing a Netatmo (or other wifi) thermostat, in order for us to control it remotely prior, during and after any winter rental.
We then need 5 copies of the keys (2 for tourists, 1 for the cleaning company, 1 for our office, 1 for emergencies/caretaking).
Once the contract is settled and we’re ready to go, we will return with “props” (flowers, fresh fruit etc) to take the photos, make a promotional video and scan the place with the MATTERPORT 3d technology.
We’ll then bring all the paperwork to the public offices from whom we need the authorization (it takes a couple of days). This will grant us access to the Police Portal which is used to communicate the name of every paying guest.
We’ll be then set to go online.
We’ll start by publishing on Booking.com, Airbnb, Homeaway, Expedia and TriesteVillas.com
Total number of online portals on which we can publish listings is about 30, but the major (and almost exclusive) ones are:
Booking.com with an average of 50% of bookings, TriesteVillas with 30% and Airbnb with 20%.
All other websites sum up, according to the specific property, to no more than 4% of revenue.
We then set up the pricing policy and follow the connection to our revenue management software (it updates automatically every 24 hours according to the demand/offer curve of similar vacation rentals and hotels in the same area of Trieste). This auto-pilot is then manually corrected every couple of days until we settle for the perfect pricing policy.
Whatever the booking, the standard scheme is the following:
PRICE PAID BY GUEST
– VAT (Italian VAT on tourism is 10%)
– PORTAL FEE (18% Booking.com, 6% Airbnb, 0%offline Triestevillas, 5% Online TriesteVillas)
– TRANSACTION FEE (0% on cash, 0.5% on ATM mode, 1% on credit card)
= NET INCOME
The net income is split 70% to the owner and 30% to our company.
Taxwise, we have to keep 21% from their net earnings and pay them out directly to the Tax Office.
On the 15th day of every month, we pay the owner – by bank transfer – for what he has earned the previous month.
Once this is done (a realistic estimate for all of the steps above is 3weeks), we’ll be up and running.
We’ll handle bookings, payments, check-in, assistance during the stay, extra services, cleaning (including linen, toilet paper and courtesy sets).
Personal linen and towels need to be stored away (in any wardrobe) since we’ll bring out own sets.
You will receive an Owner access to our backend, in which you’ll see which bookings are confirmed at which conditions in which dates, and you’ll be free to create any “Owner booking” for whenever you wish to come (or send friends over), in dates which are not already booked.
We do not take responsibility for any damage the tourist may cause, but we try to handle the problem on your behalf.
If something is broken or ruined, we keep the deposit (usually 200€), but for amounts exceeding 200€ we suggest the owner to insure the house with an insurance contract with costs around 180€/year.
The beauty and magic of our company is (and should continue being) the “human side”:
We’re not a normal commercial real estate agency, but as you’ll have a chance to understand, we’re the problem solvers who just handle an extreme complexity of unpredictable stuff, giving both owners and tourists the peace of mind of knowing they can rely – for any kind of issue – on us.
A key concept to keep in mind is that we earn based on how much income we bring in your pockets, so it is in our best interest to do everything we can to maximize profit keeping everyone happy.
This is why we might start with a very aggressive pricing policy in the first months of life of a new listing, to then start raising prices gradually once the “online review reputation” is set.
What we also do is alternating “pure” vacation rentals with mid-term rentals to companies: in tourist season minimum stays can be set on a 2/3 night range, but in winter it is often better to look for any worker who needs the place for weeks or months in a row.
Everything has to be understood beforehand, and we’ll then set all the policies accordingly.