Property Details
The who-what-where
Property:
Casa Alegre
Owner(s):
Bob & Virginia
Location:
Northwest Heights
ALB, NM
Concerns and goals of the property owners
Bob and Virginia are retired and live most of the year in New Hampshire. In 2020, they booked a few months in Albuquerque to get away from the cold weather. A few months turned into several as the pandemic brought travel to a halt. In the months that followed, Bob and Virginia began thinking of the possibility of owning their own Duke City property and began exploring options to make this happen. Was there a way to have a place always ready for their annual pilgrimage to the Land of Enchantment, professionally cared for, and that covered all their annual costs to operate?
The lay of the land
Bob and Virginia found and selected a property on Albuquerque’s west side. The one-story property featured 3 bedrooms, 2 baths perfectly nestled within minutes from the treasured Petroglyph National Monument and the beautiful Ladera Golf Course. Realizing interior charm alone would not be enough to make a perfect vacation rental, Bob and Virginia were delighted to learn the property also had a lovely outdoor space perfect for dining and year round enjoyment.
Bob and Virginia developed quite the appetite for color and flare through their world travels and they wanted their place to reflect that. They also needed property improvements to make their personal visits more enjoyable all while equipping the property to be a perfect vacation rental property. Balancing personal taste with hospitality business sense has its challenges!
The how’s make all the difference
VMG Rentals consulted with Bob and Virginia and helped them come up with a design plan to both capture their personal taste for décor as well as locate local contractors to make the property improvements needed to accommodate their visits while also keeping in mind the functionality for a vacation rental. VMG made recommendations regarding the furnishings, bedding, linens, kitchen supplies and dinner settings all based on comfortably hosting the number of guests the property owners envisioned for their property.
The goals reached and problems overcome
Bob and Virginia now have a highly sought after, fully managed short term rental property with over 60% occupancy for the dates their vacation home is not occupied by them.
VMG’s Concluding Remarks
Why VMG made all the difference in the world (and the request for your business)
Thanks to VMG’s experience in developing and managing profitable short term rental properties, Bob and Virginia are able to realize their vision of having their very own personalized winter home almost entirely funded by the residual income generated during the months they don’t use it.
If you have a property you would like VMG to consider developing and managing, or if you are considering buying a new short term rental property, please call VMG today at (505) 372-4778.
Property Details
The who-what-where
Property:
Rancho del Sol
Owner(s):
Elonn
Location:
NorthEast Heights
ALB, NM
Concerns and goals of the property owners
Elonn hired a large management agency specializing in short term property management with a presence in numerous cities across the country to manage his property. His hope was to have a successful short term rental operation that would out perform a traditional long-term rental arrangement and associated typical rates of return. After 18 months of operating at an average occupancy rate of return of 20%, Elonn decided it was time to explore other options with a better understanding of local market demand, seasons, marketing strategy and pricing.
The lay of the land
Elonn’s property was located on the northernmost edge of the up and coming city of Rio Rancho. It included a 3 bedroom, 2 bath, 1700 sq ft property with beautiful mountain views. The property features great access to several popular entertainment venues and is ideally located near many trails. It is particularly suited for families or small groups interested in good proximity to activities and enough space to relax after an active day.
What did VMG need to overcome in order to make the property a successful vacation short term rental?
Though the property had great character and appeal potential, the marketing strategy by the big agency failed to advise Elonn on the best approach to package and sell it. And while perhaps it had some challenges in terms of distance to some venues in the Albuquerque area, it had advantages if the marketing strategy focused on the right demographic. The challenges weren’t the property, the challenges were the marketing approach and targeted customer.
The how’s make all the difference
The VMG recommended solutions were simple – target families by setting up as a family friendly home. Immediate changes were recommended and future suggestions were placed on a list for future improvements. Changes were made, the new vision captured with the aid of a professional photographer and a plan was developed to leverage the keen assistance of an online marketing expert to hone in search engine optimization for more property viewings.
The goals reached and problems overcome
Within the first six months of partnering with VMG Rentals, Elonn average occupancy rates soared to 74.5%.
VMG’s Concluding Remarks
Why VMG made all the difference in the world (and the request for your business)
The pandemic created challenges to the vacation rental market in Albuquerque but it also opened up other opportunities to pivot to in order to achieve objectives. Understanding the local market gave VMG Rentals an edge in helping Elonn achieve his goals.
If you have a property you would like VMG to consider developing and managing, or if you are considering buying a new short term rental property, please call VMG today at (505) 372-4778.
Property Details
The who-what-where
Property:
Roadrunner
Owner(s):
Mike M.
Location:
Northwest Heights
ALB, NM
Concerns and goals of the property owners
Mike was interested in investing in a Short Term Rental but had little time to research the idea–let alone set it up and operate it. He liked the idea of having a place to put up family and friends visiting Albuquerque and suspected one of his properties would do well. Mike needed a little help looking at the feasibility of his idea.
The lay of the land
Mike’s property is conveniently located in west Albuquerque on the 14th hole of the beutiful Ladera golf course. It is a 2-story townhouse featuring 2 bedrooms upstairs and the master downstairs and 2 full bathrooms. The property is a townhouse near numerous restaurants and shopping. Vacationers can easily commute to the city’s most popular destinations including the Albuquerque Convention Center, Balloon Fiesta Park treasured Petroglyph National Park – all inside of 10 to 25 minutes.
Though situated in an ideal location, the property was built in the mid 70’s, the property challenges were that it needed minor improvements to give it a new, fresh look. The stone fire place felt like an old cabin and the walls desperately needed a fresh coat of paint.
The how’s make all the difference
Because occupancy rates depend on property presentation online, VMG helped Mike focus on this information. VMG’s recommendations included updating with a fresh coat of paint throughout the interior of the house, and improvements for a more updated look. VMG guided the owner through determining the right amounts of bedding, towel sets and dinner place settings based on the number of people the house would host. VMG developed an online presentation of the property by writing a property description and making recommendations for listing sites. VMG arranged for a professional photographer session and set up all necessary integrations to effectively manage an STR such as door management and a 24/7 customer support operation to answer inquiries and booking questions.
The goals reached and problems overcome
The property quickly booked and has become one of the busiest properties within a 5 mile radius. In 2020, the property maintained over 80% occupancy rates!
VMG’s Concluding Remarks
Why VMG made all the difference in the world (and the request for your business)
STR’s are suitable for many scenarios. Setting up and managing a STR can be time consuming. Whether you need a little coaching or help with the end-to-end process of offering, managing and caring for your property, VMG can help!
If you have a property you would like VMG to consider developing and managing, or if you are considering buying a new short term rental property, please call VMG today at (505) 372-4778.
Property Details
The who-what-where
Property:
Casa Flora
Owner(s):
DJ and Margaret
Location:
University Area
Concerns and goals of the property owners
DJ and Margaret wanted to travel but couldn’t agree on whether to sell, rent long-term or keep the property. Neither answer resonated completely with both! They needed a solution they both felt comfortable about.
The lay of the land
Casa Flora is located in the highly sought after Altura Park area of Albuquerque. It is a classic southwest, 3 bedroom, 2 bath Santa Fe style real adobe home.
Margaret was uncomfortable with the idea of selling or renting the property long-term. She wanted to travel, but needed the security of knowing her home would still be there in the event traveling didn’t turn out to be what she anticipated. DJ preferred to sell, but if they rented it out he needed to know it was in good hands. The solution was to address the needs of both. They needed a plan that allowed them to have a place available if they needed to return and the ability to generate income to cover expenses. They also needed to feel comfortable with an agency if they decided to go that route.
The how’s make all the difference
The goals reached and problems overcome
DJ and Margaret’s place was a complete success and very well received by every guest that stayed in their house. Its stellar performance was above average in occupancy rates and consistent 5-star ratings.
VMG’s Concluding Remarks
Why VMG made all the difference in the world (and the request for your business)
Understanding who you are targeting as a guest for your property is critical information in planning how to best set up your property for a STR. Don’t forget, you may need to return to your home so this possibility has to be folded in as well.
If you have a property you would like VMG to consider developing and managing, or if you are considering buying a new short term rental property, please call VMG today at (505) 372-4778.
We experienced such exceptional service with VMG Rentals a year ago, you could even say it changed our lives all for the better. We enjoyed our first visit to Bear House so much we kept asking Eloy Gonzales if we could buy it from him! That turned out to be the seed for a project we had never considered but now are absolutely delighted to see come to fruition. The assistance with this from VMG, Eloy and his staff, has been exceptional in every detail.
From the beginning of our rental of Bear House for a few months we were deeply impressed with the Customer Support, from reservation online to the day-to-day operation of the house. We loved the décor of the house, enjoyed all of its touches. The quality of the housekeeping and maintenance further impressed us favorably.
Through discussions with Eloy, we began to consider a partnership with VMG to undertake ourselves owning a STR (Short Term Rental) under the guidance and maintenance of VMG. COVID saw us extending our stay in Albuquerque until returning home to New England in mid-June. Over the next few months the seed idea began to develop and by March of this year
we owned a suitable property in Albuquerque and are now about to open it to STR. We would never have been able to do this on our own, or even with the help of a few friends. We could not have considered undertaking such a project without the expertise and experience of VMG.
Eloy and his team are great. They came highly recommended and we understand why. He showed us how vacation rentals work, how to stage our house for the most income, and provided us with numbers which helped us decide what is best for us. Hiring VMG gave us the opportunity to travel for 9 months out of the year! We highly recommend Eloy and his team.
Eloy and his team at VMG Rentals have created a great partnership and have turned our property into a high revenue generating business. Their expertise and ideas of setting up the property, focus on marketing as well as the the customer engagement and service they have provided the tenants as well as myself has been a truly a great experience.
When it comes to property management, I'm particular! I have managed my own properties and set up systems for 100% remote management to ensure success and profitability of the property. I've typically not done this by choice as it is hard to find a management company that you can trust, especially in the vacation rental arena. Immediately when talking with Eloy Gonzales, who is the owner of VMG rentals, I knew this was going to be a great fit and they have done nothing but over perform and provide incredible value and a family feel to the relationship. They look to create solid repeatable systems that ensure our property is taken care of as much as creating a high-end guest experience that drives clients back to VMG. I plan on working with VMG for years to come. The only choice in the Albuquerque area as other large operators are trying to reach into the vacation rental management market do not have the right mindset.
Did you like what you read about VMG? Are you getting closer to hiring a STR specialist that does only short term rental management and knows the hospitality business?
Then let’s meet to find out if your property is a good candidate. Complete the information form and we will call you to begin the discovery phase.
Eloy
Licensed Broker
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ELOY GONZALES | QUALIFYING BROKER | LICENSE #: REC-2023-0431
CONTACT: (505) 372-4778 • SUPPORT@VMGRENTALS.COM