👉 Watch our free Airbnb masterclass ➜ https://shorttermsage.com/airbnbmasterclass Today I had the honor of speaking with Heleena Sideris with Park City Lodging, a 37 year old vacation rental management company in Park City Utah that has 250 rentals under management.
In this episode, Heleena shares how Park City Lodging founded and what it has seen over it's 37 year life in Park City Utah, what it's like operating a team of 75, the daily work flow during different seasons, how to include purpose driven work like sustainability into your business, and a secret strategy working with HOAs that doubled their rental count.
Timestamps: 0:00 – Episode Preview 1:13 – Episode and Guest Introduction 3:23 – What inspired Heleena to go into short term rentals 4:59 – Background of Park City Lodging 8:02 – The Park City market and short term rentals 9:50 – How their company balances out the seasonality of Park City 11:56 – Marketing in the Park City market 13:39 – Growth trajectory and scaling through the “sustainability” perspective 16:19 – How much of the property management company is geared towards that individualized attention to detail in comparison to growth, mission, etc.? 18:21 – Problems that a mature property management company face these days 19:57 – What does a mature property management company look like and how does it operate? 22:11 – Team composition of Park City Lodging 24:15 – How the company came up with their effective team composition and task delegations 30:22 – Keeping up with new technologies for growth 32:36 – Dealing with competition in the market 35:08 – Key differences between a large corporate property management company and a local home-grown property manager 37:21 – What a “concierge” service mean 42:30 – Do you see a shift in the clients that are approaching you, from the grassroot “taking care of the property” type to the more of the profit-centric type of investor? 45:28 – What direct impact can you have on “sustainability” with vacation rentals? 51:11 – Do majority of the people that book on your properties stay for the “sustainability” mission or just because they like the property? 54:03 – Working HOAs 1:02:42 – If you could go back from scratch, what would you do differently? 1:03:50 – What is that one piece of advice that you can give to someone who is just starting? 1:04:45 – The best way to reach out to Heleena
