Case Studies – Property Holders

Short-Term Rental Management

Currently Serving Miami, Ft. Lauderdale, and West Palm Beach

Full-service vacation rental property management for Airbnb hosts and holiday rental owners that want short term rental income without the hassle of management.

General Market Overview for West Palm Beach, FL

West Palm Beach, FL Short-Term Rental Market Summary

Overview: The short-term rental market in West Palm Beach, Florida, exhibits robust performance, marked by a compelling blend of high average daily rates, considerable annual revenue, and a steady occupancy rate. The city’s charm, cultural attractions, and proximity to popular destinations contribute to its status as a thriving market for property owners engaged in short-term rentals.

Key Metrics:

Annual Revenue Average: $62,000
- West Palm Beach boasts an impressive average annual revenue of $62,000 for short-term rental properties. This figure underscores the city’s popularity among travelers seeking unique and comfortable accommodations.
Occupancy Rate: 55%
- The 55% occupancy rate signifies a consistent demand for short-term rentals in West Palm Beach. Property owners can leverage this steady demand to ensure a substantial portion of the year is occupied, contributing to a reliable stream of income.
Average Daily Rate: $311.1
- With an average daily rate of $311.1, West Palm Beach positions itself as a destination where guests are willing to pay a premium for a memorable stay. This higher-than-average rate suggests that properties in the area offer desirable amenities and experiences, contributing to their profitability.
Revenue per Available Room (RevPAR): $178.6
- The RevPAR of $178.6 reflects the effectiveness of maximizing revenue on a per-room basis. This metric demonstrates that property owners in West Palm Beach are not only achieving high average rates but are also consistently filling available rooms, leading to a strong overall revenue performance.

Market Insights:

Market Appeal:
- West Palm Beach’s appeal is evident in the strong performance metrics, driven by factors such as beautiful beaches, business conventions, seasonal concerts and events, and proximity to attractions like Palm Beach and Palm Beach International Airport.
Profitable Pricing Strategy:
- Property owners can leverage the market’s willingness to pay higher daily rates, optimizing their pricing strategy to maximize revenue without compromising occupancy.
Average Demand:
- The 55% occupancy rate indicates the competition has room for improvement and can vary depending on seasonality. Property holders consistently outperforms this occupancy rate by implementing our dynamic strategies with the properties we manage
Potential for Growth:
- Despite the already robust performance, there may be opportunities for property owners to further enhance their revenue by offering unique experiences and staying on top of of local events.

Property Holders is able to consistently outperform the market averages in all properties we manage. See the various case studies below:

Case Study #1: Maximizing Returns - Transforming a Miami Oasis into a Highly Profitable Short-Term Rental in Buena Vista

Challenge: The owner of a recently renovated 4-bed/2-bath home in the vibrant Buena Vista neighborhood of Miami found himself fatigued by the challenges of self-managing his Airbnb property. Despite his initial attempts, he sought the expertise of Property Holders to take the reins. With the desire to keep the property and turn it into a lucrative investment, the challenge was to overcome increased local competition and streamline the management process.

Solution: Property Holders, the leaders in Airbnb property management, devised a comprehensive strategy to enhance the property’s appeal, streamline operations, and maximize returns:

Strategic Property Enhancements:
- Identified key areas for improvement and recommended enhancements to increase the property’s attractiveness, including the addition of a pool.
- Coordinated with trusted contractors to carry out renovations, creating a more appealing and comfortable space for guests.
Efficient Property Management:
- Assumed full responsibility for day-to-day management tasks, including guest communication, check-ins, and maintenance.
- Implemented a responsive customer service approach to enhance the guest experience.
Dynamic Pricing and Marketing:
- Utilized a dynamic pricing model to stay competitive and capture demand during peak seasons.
- Executed targeted marketing strategies to showcase the property’s unique features and attract a consistent flow of bookings.

Results: The collaboration with Property Holders yielded outstanding results:

Significant Increase in Revenue:
- Transformed the property into a highly lucrative investment, generating three times the mortgage costs.
- Positioned the property as a top-tier choice in the Buena Vista neighborhood for groups and families visiting Miami.
Consistent Bookings and Positive Reviews:
- Maintained an impressive average nightly price of $450, even amidst increased competition
- Achieved an 84.8% occupancy rate, showcasing the property’s sustained popularity.
Stress-Free Ownership:
- Provided the owner with peace of mind by taking over the management responsibilities.
- Enabled the owner to enjoy the financial benefits of their investment without the hassle of day-to-day property management.

Conclusion: Property Holders not only optimized the property for maximum returns but also implemented efficient management practices, ensuring sustained success. Our approach turned the owner’s desire to keep the property into a stress-free and highly profitable reality.

Ready to transform your property into a hassle-free investment? Contact Property Holders today for expert Airbnb property management services that guarantee exceptional results. Your property’s success story begins with us!

Case Study #2: Taking Advantage of A Prime Location, With No Extra Ammenities,
Downtown West PalmBeach

Challenge: In the heart of Downtown West Palm Beach, a homeowner faced a unique dilemma. Amidst a challenging divorce, the owner found themselves in possession of a property they didn’t want to sell but wasn’t sure how to utilize effectively. Uncertain about the future of the house, they sought a solution that would not only provide financial stability but also a purpose for the property.

Property Characteristics: The house is a 2 bed/ 1 bath with no extra amenities, except a backyard, however it is in a great location in Downtown West Palm.

Solution: Enter Property Holders, the experts in Airbnb property management. We approached this unique situation with a customized strategy tailored to the owner’s circumstances:

Sensitive Property Assessment:
- Understanding the delicate nature of the owner’s situation, we conducted a thorough assessment to align our strategy with their emotional and financial needs.
- Developed a plan that would turn the property into a source of income while respecting the owner’s preferences.
Strategic Positioning on Airbnb:
- Crafted a compelling listing for the property on Airbnb, emphasizing its unique location and charming appeal.
- We were able to remain well under the owner’s budget to prepare the property as a short term rental.
Flexible Management Approach:
- Recognizing the owner’s potential need for personal use of the property, we implemented a flexible management approach that accommodated both short-term rentals and owner occupancy if needed.

Results: The collaboration with Property Holders yielded impactful results:

Steady Occupancy Rate:
- Achieved a consistent average occupancy rate of 90%, ensuring a steady stream of income for the owner.
- Provided financial stability during a challenging time.
Optimized Rental Income:
- Transformed the house into a profitable asset without the need for a sale.
- Established a competitive average nightly rate of $190, maximizing the property’s earning potential.
- The property brought in on average $5,130 each month.
Owner’s Peace of Mind:
- Offered the owner a hassle-free solution during a turbulent period.
- Provided a sense of control and purpose for the property without the emotional burden of selling.

Conclusion: Property Holders not only addressed the unique challenges posed by the owner’s divorce but also turned the property into a valuable income source. Our empathetic and strategic approach allowed us to provide financial stability while respecting the owner’s emotional needs. We were also able to highlight the positive qualities the property has, such as its location and charming appeal, to optimize revenue.

Case Study #3: Unlocking Hidden Potential - Transforming a Duplex near Palm Beach International Airport into a Lucrative Short-Term Rental Haven

Challenge: Situated near Palm Beach International Airport, a property owner faced the challenge of optimizing the potential of their duplex, which housed two separate 1-bedroom, 1-bath units. The traditional long-term rental model was underwhelming in terms of income, prompting the owner to seek a more lucrative and dynamic approach.

Solution: Enter Property Holders, the experts in Airbnb property management. We devised a strategic plan to unlock the hidden potential of this duplex:

Optimized Duplex Configuration:
- Leveraged the unique structure of the duplex, positioning it as two independent and charming 1-bed/1-bath units.
- Customized the interior design to enhance the appeal of each unit individually.
Professional Airbnb Listing Optimization:
- Crafted distinct and enticing listings for each unit, highlighting their unique features.
- Utilized high-quality visuals to showcase the comfort and style of the accommodations.
Dynamic Pricing Strategy:
- Implemented a dynamic pricing model that considered factors such as proximity to the airport, local events, and seasonal demand.
- Ensured competitive pricing to attract a steady flow of short-term renters.

Results: The collaboration with Property Holders delivered remarkable outcomes:

Dramatic Increase in Rental Income:
- More than doubled the income compared to traditional long-term rentals.
- Acheived an average nightly rate of $145.
- Successfully positioned the duplex as a highly profitable short-term rental investment.
High Occupancy Rate:
- Achieved an outstanding average occupancy rate of 92.1%.
- Maintained consistent demand for both units, maximizing the property’s revenue potential.
Positive Guest Experiences:
- Received glowing reviews from satisfied short-term renters, which allowed us to establish the duplex as a preferred accommodation near Palm Beach International Airport.

Conclusion: Property Holders not only optimized the duplex’s configuration for short-term rental success but also implemented effective management strategies to ensure consistent bookings. We provided guests with a comfortable and convenient option near the airport, but also highlighted its proximity to downtown. Our approach not only transformed the property into a lucrative investment, but also solidified its reputation as a sought-after accommodation option.

Case Study #4: Transforming An Outdated 4 Bed / 2 Bath into a Lucrative Short-Term Rental in Downtown West Palm Beach

Challenge: The property, located in Downtown West Palm Beach, was a classic example of an outdated and old residence. The owner was struggling to find a decent long-term tenant willing to pay $3,500 per month.

Solution: Enter Property Holders, the go-to Airbnb property management experts. Our team assessed the property’s potential and devised a comprehensive strategy to transform it into a profitable short-term rental. Here’s how we did it:

Strategic Renovation:
- Identified key areas for improvement and conducted a cost-effective yet impactful renovation.
- Enhanced the property’s aesthetic appeal to attract a wider range of short-term renters.
Professional Listing Optimization:
- Crafted a compelling Airbnb listing highlighting the property’s unique features and amenities.
- Utilized professional photography to showcase the transformation, making the property stand out in the competitive market.
Dynamic Pricing Strategy:
- Implemented a dynamic pricing model based on market demand, local events, and seasonal trends.
- Ensured competitive pricing to maximize occupancy and revenue.

Results: The collaboration with Property Holders yielded results much more profitable and consistent than a long term rental:

Occupancy Rate Boost:
- Achieved an impressive average occupancy rate of 92.6%.
- 263/275 nights were booked at an average of $320 per night.
- Transformed the property from a struggling long-term rental to a consistently booked short-term haven.
Increased Revenue:
- Replaced the stagnant $3,500 per month rent with an average nightly rate of $320.
- From March 1, 2023 (When the listing opened) to December 31, 2023, the property has made $84,160.
- The property is on track to make $108,156+ in its first year.
- Significantly increased the property’s monthly revenue, turning it into a lucrative investment for the owner.
Positive Guest Experiences:
- Received positive reviews from satisfied short-term renters.
- Established the property as a preferred choice for travelers visiting Downtown West Palm Beach.

Conclusion: Property Holders successfully turned an outdated property with rental challenges into a thriving short-term rental business. Our strategic approach, coupled with effective property management, not only solved the owner’s rental struggles but also turned the property into a consistent source of revenue.

Are you ready to unlock the full potential of your property? Contact Property Holders today for expert Airbnb property management services that guarantee results. Your success story awaits!

Case Study #5: Optimizing a Small Outdated Apartment Unit into a Profitable Short-Term Rental Gem in Downtown West Palm Beach

Challenge: The property in focus was a small 2-bedroom, 1-bath unit nestled behind a main property in Downtown West Palm Beach. This additional apartment, although conveniently located, suffered from being outdated and poorly maintained. The owner, discontent with the current long-term tenants and renting it out at a discounted rate of $1,350 per month, sought a solution to both enhance the property and increase its financial viability.

Solution: Enter Property Holders, the leaders in Airbnb property management. We took on the challenge, implementing a tailored strategy to revitalize the unit and optimize its rental potential:

Comprehensive Renovation:
- Identified key areas for improvement and executed a cost-effective renovation plan to modernize the unit.
- Ensured that the updates aligned with the preferences of short-term renters.
Strategic Pricing Adjustment:
- Conducted a thorough market analysis to determine the optimal nightly rate for the small yet well-appointed unit.
- Implemented a pricing strategy to ensure competitiveness while maximizing revenue.
Professional Property Management:
- Implemented a rigorous screening process for short-term renters to maintain the property’s condition.
- Provided timely and efficient maintenance, ensuring a positive experience for both property owners and guests.

Results: The collaboration with Property Holders produced remarkable outcomes:

Occupancy Rate Enhancement:
- Achieved an outstanding average occupancy rate of 91.8%.
- Transformed the once underutilized space into a consistently booked short-term rental.
Revenue Maximization:
- Replaced the stagnant $1,350 per month rent with an average nightly rate of $145.
- Increased the property’s monthly revenue, surpassing the owner’s previous income from long-term leasing.
Improved Property Condition:
- Successfully addressed the owner’s concerns about poor tenant maintenance.
- Maintained the unit in excellent condition, enhancing its overall value.

Conclusion: Property Holders not only elevated the aesthetic and functional aspects of the small unit but also turned it into a thriving short-term rental. Our strategic approach, combined with effective property management, not only boosted the property’s financial performance but also addressed the owner’s dissatisfaction with long-term tenancy.

Ready to transform your property into a lucrative short-term rental? Contact Property Holders today, where excellence meets results. Your success story is just a click away!

Experience In Numbers

+10-35%

in increased gross revenue

4.8 Stars

Average guest rating

7+ Years

Managing Short Term Rentals

Why Choose Property Holders?

You can rest easy knowing that your property is being managed by a skilled team using top-notch technology.

How It Works

1. Onboard Your Listing

2. We manage Everything

3. Receive Payouts without the hassle of hosting

What You Get With Property Holders

Maintaining Your Home

The crew at Property Holders makes sure that your house is kept up, well equipped, and always prepared for its next booking.

Keeping Guests Happy

Our operations and support team is constantly on call, so we can answer the 2 am call about any issue and keep your guest satisfied.

Bring In More Guests

We make sure your listing performs as effectively as it can and generates the most revenue by using our data, experience and industry best practices.

A Few of Our Many Reviews...

Maximize Your Property's Potential

Call Property Holders to learn more about our property management service for short-term rentals in South Florida.

Meet Our Key Team

Get to know the talented individuals behind Property Holders who work hard to ensure your satisfaction.

Vicente Benlloch

Co-Founder, Operation Director

Vicente Benlloch

Co-Founder, Operation Director

Vicente is a seasoned professional with a dual Master's in Psychology and 7 years experience managing short-term rentals in NYC. As Co-Founder and Operations Director of Property Holders, he leverages his expertise to drive growth and success.

Teresa De Jesus

Co-Founder, Financial Director

Teresa De Jesus

Co-Founder, Financial Director

Teresa is a finance expert with a degree in Economics and experience in wealth management at Morgan Stanley. As Financial Director at Property Holders, she optimizes revenue, monitors performance, and makes data-driven decisions to drive financial success.

Raphael Ojeda

Guest Experience Manager

Raphael Ojeda

Guest Experience Manager

Raphael is the Guest Experience Manager at Property Holders, responsible for coordinating cleaning and maintenance, and managing all guest communications. His attention to detail and motivation ensure a seamless and enjoyable guest experience.

Samantha Garcia

Customer Relations Director

Samantha Garcia

Customer Relations Director

Samantha is the Customer Relations Manager at Property Holders. She ensures property owners' concerns are handled efficiently and communicates potential issues to the team for quick resolution.

Maximize the earning potential of your home.

Schedule a call to learn more about Property Holders' Short Term Rental Management Service.

FAQs

Why Choose Property Holders to Manage Your Short Term Rental?

The answer is simple – Property Holders prioritizes quality over and client satisfaction over everything else. As a result, Our property management team is highly skilled and dedicated to offering comprehensive property management services in niche specific locations at competitive pricing.

How flexible is the usage of my property with Property Holders?

There are no limitations on the frequency of usage of your property. You have complete control over managing your calendar and can block off any desired dates for personal use, whether it be for a day, week, month or even an entire season. Just let us know in advance.

How much are Property Holders' management fees?

Property Holders offers a trial period at a fixed fee, and then charges a management fee that starts at 15% of revenue, determined by the annual income of your property and the length of your contract agreement.

What does Property Holders' full service vacation management include?

Property Holders’ full service vacation rental management encompasses all tasks that a property owner would typically perform. Our comprehensive services relieve people from the stress of property management, with the exception of mortgage and tax payments, which are not collected by the rental platform and must still be handled by the owner.

The vacation rental management team at Property Holders provides a wide range of services including:

Hot Tub Maintenance
Pool Maintenance
Cleaning Services
Lawn Maintenance
Check-In/Check-Out Management
Marketing
Supplies & Restocking
Licensing
Dynamic Pricing
Laundry Service
Home Automation
Messaging Service
Calendar Management
Linen Service
Guidebook
Listing Optimization

Additionally, clients have the option to purchase additional services such as design, furnishing and installation, as well as insurance. This way, property owners can focus on managing the finances and making important decisions, while the rest is taken care of by the management team.

Does Property Holders Manage Airbnb Properties?

Yes, Property Holders handles all kinds of short-term rentals and vacation properties, including those listed on Airbnb. They also manage properties listed on VRBO and other platforms, as well as independently listed properties.

The vacation rental management team at Property Holders provides a wide range of services including:

Hot Tub Maintenance
Pool Maintenance
Cleaning Services
Lawn Maintenance
Check-In/Check-Out Management
Marketing
Supplies & Restocking
Licensing
Dynamic Pricing
Laundry Service
Home Automation
Messaging Service
Calendar Management
Linen Service
Guidebook
Listing Optimization

Does Property Holders offer services for managing condominiums?

Property Holders manages a wide range of properties, including condominiums, single-family homes, multi-family dwellings, and other types of properties used for short-term rentals. In some cases, there may be exceptions, so it is best to speak with a property manager to determine if the services offered would be a good fit.

How does Property Holders promote my vacation rental?

Property Holders maximizes your listing’s visibility on Airbnb and other short-term rental platforms through optimizations such as enhancing the listing details, professional photography, and strategic pricing adjustments, all with the aim of increasing revenue.

How does Property Holders compare to Vacasa or Evolve?

Property Holders incorporates the best aspects of Vacasa and Evolve, offering full-service property management like Vacasa and a competitive fee structure like Evolve, at just 15% of revenue.

Compared to Property Holders, Vacasa also provides full-service property management, but with a higher cost due to additional fees for specific services.

Evolve, on the other hand, provides a limited range of property management services and charges 15% of revenue, but does not include essential services such as cleaning and maintenance.

How are unexpected and emergency situations handled?

Property Holders has regional teams on standby 24/7 to promptly resolve any unexpected incidents that may occur at the property.

Additionally, Property Holders offers round-the-clock chat support to guests to ensure a positive and seamless experience.

How does Property Holders prevent negative reviews?

Property Holders strives to deliver exceptional customer service and create positive experiences for guests. This involves:

Making sure the property is fully equipped and properly cleaned for each arrival. Rapidly responding to guests’ inquiries and requests 24/7. Providing a comprehensive guidebook to help guests navigate their surroundings. Constantly working to enhance guests’ experiences with each booking.

Will I be able to use the property myself or for friends and family?

Certainly! You have the freedom to use the property whenever you wish. Just mark off the desired dates on the calendar so that they aren’t available for booking. If you need assistance in doing so, don’t hesitate to reach out to the Property Holders property management team.

What is the turnaround time for Property Holders to have a team in place?

Property Holders can have a team in place and your property fully operational in less than a week.

Are there any undisclosed or supplementary expenses apart from the basic management fees at Property Holders?

Property Holders does not impose any undisclosed or additional fees apart from the property management charge. We do not charge extra for specific services such as linens or cleaning and do not levy additional fees on owners.

Does Property Holders have local property managers?

Property Holders has established partnerships with experienced local maintenance personnel, handymen, and cleaning professionals to ensure a presence and quick response in every market where they provide their services.

What is the approach Property Holders takes to pricing a property?

Property Holders employs a blend of technology and human expertise to determine the optimal price for a property. Utilizing automated dynamic pricing algorithms, Property Holders identifies potential pricing strategies and then subjecting these suggestions to a thorough human review process to ensure maximum revenue for the property owner.

What is the Property Holders pet policy?

The pet policy of the property is determined by the owner. Property Holders gives the property owner the discretion to decide whether or not to allow pets in the rental space.

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