People are becoming increasingly creative about ways to generate income these days, including monetizing the property they live on. The most obvious example of this is Airbnb, which has been around since 2008 but exploded in the years leading up to the pandemic. And though business certainly suffered during the first several months of 2020 (revenue plummeted about 80%), it has since rebounded as people resumed traveling. In fact, since they can work from anywhere they are often staying for longer periods, which means opportunities for hosts to create modest side hustles to six-figure revenue streams. Others are renting out areas of their land as storage space or for events such as weddings, or growing crops on the property for sale at farmers’ markets. Whichever avenue you choose, you’ll soon find that it is like running any small business, with countless details to be tended to on a daily basis. If you’re serious about earning money from your property, EstateSpace can help you provide stellar service while maintaining your sanity.
Many, if not most, people will have to prepare their property in some way before advertising their offering or listing it on a site. Let’s say you live near the beach, the slopes, or some other prime destination spot; you also have an unused guesthouse on your property that would make an excellent Airbnb rental. The problem is that the kitchen and bathrooms haven’t been updated since the Reagan administration. In order to be competitive as a host (and get those five-star reviews), you will need to do significant remodeling prior to earning money from your property. An all-in-one solution is an excellent way to map out and track the progress of this project, allowing you to upload, update, and share blueprints, the cost of supplies and labor, necessary permits, and timelines so you stay within budget and are ready for the busy season. The same is true if you are starting an agricultural venture, with the tool enabling you to keep track of planting and harvesting schedules, as well as the contact information for those who will help you sell your wares.
These digital tools can also help you maintain and grow your business. For example, if you are renting out a space to travelers, you may want to add extras that create that home-away-from-home experience, similar to a bed and breakfast. You can use the all-in-one solution for anything from managing fresh flower deliveries before each guest arrives to making sure you have additional toiletries on hand, and so on. You can also create a digital guestbook with their contact information and photos, details about their lives, and what they like to do while on vacation. This makes it easier to keep in touch with them after they leave and increase your chances of repeat visits. Moreover, it will be absolutely critical if you decide to scale up by renting out additional properties. Even for the experienced entrepreneur, turning one’s home into a business can be a challenging endeavor that takes them far outside their comfort zone. It is one thing to Zoom with colleagues from your living room and quite another to have guests in or near your space 24/7. An all-in-one solution will help you take your organizational skills to next level so you can maintain balance and boundaries while building an income and perhaps even a new career.