BNP Paribas Real Estate’s Property Management business line has announced a new service offer for European investors’ residential properties. In collaboration with Hostmaker, a London-based homestay property-management company, BNP Paribas Real Estate Property Management will offer an added-value and blended-yield model to maximize revenues for residential assets all over Europe through diversified leases (flexible mix between long, short, midterm). This solution is going along with premium services catalogue enhancing residents’ experience.
FOCUS ON THE INNOVATIVE FLEXIBLE LETTINGS MODEL
Csongor Csukás, Head of International Property Management at BNP Paribas Real Estate, said: “We observe significant interest among major real estate investors in the residential sector, as well as fast-growing trends in consumers’ preferences such as nomadism, coliving, extra-services and tailor-made user experience. Residential letting and property management is an extremely atomized sector with a clear opportunity for professional managers due to the lack of transparency and efficient management models. Combining tenant´s experience, strategic PropTech partners and the technology, we bring value with branding, management, efficiency and long-term strategy.”
To actively respond to this trend, the Property Management team offers a blended-yield model for residential assets in Europe that mixes long, medium and short-term leases in a flexible way to optimize IRR*. (*Internal Rate of Return)
The solution in detail:
- Innovative blended-yield model: a well-adjusted mix between short, mid and long term leases to maximise revenues, adjusted market by market according to local regulations.
- Solutions to increase or maintain high occupancy rates: active lease management
- Hands-off premium services:
- For seasonal leases: listings on platforms such as Airbnb (description, high quality pictures), guest screening, hosting (in-person meet and greets, five-star housekeeping), maintenance (fixing, interior design,).
- For all residents: enhance their experience by bringing to them catalogue of premium services (cleaning, home-staging, etc.)
- Enhance property value by setting up five-star standards
- Expert advice to adjust lease mix: throughout their buildings investors can regularly adapt between long, mid and short term leases. Landlords have the flexibility to switch from a model to another.
- Diversified demand stream: risk mitigation with mixed rental model
In order to harness the best players in the market, BNP Paribas Real Estate started working with the fast-growing PropTech start-up Hostmaker. They are leading the way in the seasonal, rental management market, responding to a new way of living in buildings and the way people market their properties.
Nakul Sharma, CEO and Founder of Hostmaker, said: “This collaboration will provide BNP Paribas Real Estate customers with a one-stop shop service for property management. BNP Paribas Real Estate has long offered a range of lease management functions; Hostmaker will now supplement this by offering an innovative flexible lettings model, to increase occupancy rates, mitigate risk and increase yields.”