Managing a property is not for the faint of heart. Being a property manager comes with a huge amount of responsibility, and it’s important to be fully prepared before taking on this role. In today’s fast-paced world, it’s also essential to keep up with the latest trends and changes in the industry, particularly with the growing demand for short-term rentals.
In Calgary, the property management industry is facing new challenges and opportunities as the market evolves. With the rise of millennial and Gen Z tenants, property managers must adapt to the changing demands of this demographic, including the need for quick and high-tech solutions.
One of the biggest challenges of property management is maintaining a property after every guest stay, especially in the case of short-term rentals. However, hiring a property manager can take the stress out of property ownership and allow you to sit back and let the profits come in. While some property management companies may charge a high fee, others offer affordable services that include 24/7 guest support, online bookings, and visually appealing listings.
To stay ahead of the competition, property managers in Calgary should consider the following trends:
- Specific demographic focus: Catering to the specific tastes and needs of millennial and Gen Z tenants
- Technology: Keeping up with technology and offering quick and efficient solutions
- Improvised marketing: Utilizing digital marketing to reach potential clients online
- Digital amenities: Providing internet and other digital amenities to guests
- Short-term rental demand: Keeping up with the growing demand for short-term rentals
In conclusion, property management is a challenging but rewarding career. If you’re considering this path, it’s important to weigh the workload and responsibilities and seek the help of a professional property management company if necessary. Prowess Property Management offers up-to-date services and has served clients across Canada. Contact us today to learn more about the potential of your property.