Our Approach
We run every condo we manage like it is its own high-end vacation business while delivering all guests a 5-star experience.
During the condos’ “onboarding” with Stay The Key we analyze the unit, its’ financial performance and contrast with comparable units in the same building and beyond to determine where the condo is under performing. Once identified we develop a strategy to counter the underperformance and then execute with the goal to increase the units’ profitability for its’ owners without sacrificing the guests’ 5-star experience.
Testimonials
We are able to relax.
My wife and I purchased an existing Airbnb in the state of Florida with the idea of using STR’s to subsidize the cost of a second home. We went with one of the large international brands which seemed like a “safe bet” and had trouble at every turn. The employee turnover made it impossible to have a contact point. Fees were excessive, maintenance was not timely and extended vacancy quickly turned our investment into a “money pit”. Thankfully , another STR owner recommended Property Pro and we made the switch. From the beginning Property Pro spoke with me about our goals and made an action plan to get on track. They are accountable, honest and have a formula for success. Now, we are able to relax, let them handle all aspects of our property. We are able to personally enjoy it with our family, 2-3 time a year and still make money! What a turnaround for our family.
Andrea
New York
Saw an immediate difference!
I purchased a unit with an existing on site manager. Received very little feedback, no analysis, more of a one-size-fits-all approach. I switched to a local company. Poor communication, no continuity of communication, no strategy to improve. I switched to Pat and his wife… Saw an immediate difference! Prior financial performance data was analyzed, on site analysis of unit, modernized unit within my very limited budget, updated pictures, great communication. Result: 5 Star Reviews, increased occupancy and rental rates which turned our annual deficit into a unit that is now paying for itself! Extremely pleased, highly recommended!
Stacey
New York
Most Frequent Reasons For a Units Underperformance:
Hosts of Potential Reasons – for each we have a trusted resolution
Inadequate Photos
- Professional photos, improved staging of units
Outdated Unit
- Complete unit turn OR affordable aesthetic improvements
Poor or few reviews
- Professionally cleaned units “staged” and well lit = positive first impression
- Immediate response to maintenance requests. Company employees maintenance technicians which lowers response time, lowers owners costs (VS using a vendor) and delivers a better result.
- From booking to end of stay your renter will have access to the same condo concierge which leads to better communication, trust, and comfort for your renter.
- Stay The Key established policy to reach the renter on the last day of reservations and 2 days later to extend gratitude for their stay, encourage future booking, and obtain a 5-star review.
Our Stay The Key Results:
Greater occupancy, higher rental rates, lower cost repairs and maintenance = increased annual revenue, decreased annual expense and higher annual profitability.
Throughout our engagement, condo owners will have both phone and emails to:
- A company owner
- Your condo concierge
- Our accountant
On site or in person appointments are always available. At the close of every month a Stay the Key accountant will prepare a monthly report of
- All revenues collected
- All expenses incurred
- All taxes collected and held for remittance on your behalf
- Net income owed to the owner
On or before the 10th of every succeeding month, the owner will receive:
- An email copy of the prior months accounting (noted above)
- An electric transfer of funds representing the net income earned in the prior month to an owner designated account