Seeking Advise and Help to Allow our Business to Grow
started this topic @ 22:25 on 23/07/2012
In 2008 Abena Thomas and Natasha Mckenzie commenced the inititative UStayLondon. The current executive director is Sula Smith. We recognised there was a demand for short term rentals in the UK and since that date we have expanded our network of properties.
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Currently, we manage 13 properties in South East London. Mainly in the Greenwich (Zone 2) and Croydon (Zone 4) area only.
Our portfolio of properties are rented on an assured short hold tenancy for up to 18 months with consent from the owner about their use.
We have housed nearly 2,000 guests in our portfolio of properties. The average stay of each guest is 3 – 4 days, and the majority of our clientele range from mainland Europe and the UK. However we are expanding our market and looking to expand our services to a wider global market particularly the Pacific, Asian, American and Australasian and African markets.
In 2010, we expanded our scope, by subletting via a panel of landlords. We are constantly striving to increase our portfolio by taking on more properties via flexible arrangements.
The advantages are as detailed below:
Minimal repair on properties, therefore reduces costs
Trial and error, we can expand to different areas to test the market, if they fail then we give notice to the owner and return their property in the same condition
We are flexible in our finances, if we have slow periods, like we do at the moment, we can return the properties to the owners with no financial strain
By the same token, if we have peak seasons, we can easily expand our portfolio as quickly as possible, we have taken on properties within one day searches without viewing them and they have successfully been rented by ourselves to date.
Aims & Goals
To expand our portfolio of properties in London to 20 London, by the end of 2012.
Our aim is to continue taking separate properties, but prefer to take on apartments with a minimum of 6 properties in the same building.
Expand to other European cities, primarily Barcelona.
Incorporate a BackOffice with Global GDS to ensure that we have our financial reporting with ease and can manage our back office efficiently.
Ensure Paulina and Natasha take a Management Role, in the company, and are less hands on.
Improve our processes, in order to allow the business to run by itself with less Management Intervention.
Increase our market presence
Improve our services