The Works BnB llc

Serves Edina, MN

35244

Hired 5 times

2 employees

3 years in business

Free on-site estimate

5.0

This pro accepts payments via Apple Pay, Check, PayPal, Stripe, and Venmo.

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Credentials

Background Check

Joanne Hanson
Completed on 5/30/2023

Introduction

At The Works BnB we offer a unique investment-led approach to owning and managing your vacation property in Minnesota. We handle all the day to day operations, so you don’t have to worry, whilst at the same time maximizing your return on investment through dynamic revenue management, expert marketing, and using a data-driven approach. We believe in creating a unique and memorable guest experience, that guests will want to revisit again and again. We believe the secret to a successful investment is 5 stars. Resulting in increased revenue from higher nightly prices and higher occupancy rates. But we also realize that it’s a journey – a journey to 5 stars. With improvements and investments over time, acting on guest feedback, your property continuously improves over time, and stays there, and we’re here to help you do that. We offer a full-service vacation rental management service from start to finish. Whether you already have an existing property, or you need to find one. We offer real estate services, design, set-up and ongoing property management. We tested our approach on our own investment properties. After buying our first vacation rental at Giants Ridge in northern Minnesota we gave it “The Works” and increased the annual revenue by 283% in the first year. We continued this trend with our second vacation rental in Lutsen Minnesota, making a record five figures in rental income in our third month. We now have three investment properties making a six figure income per year, and we want to share our knowledge and expertise with you. Real estate license no: 40841752

Q&A

What should the customer know about your pricing (e.g., discounts, fees)?

Pricing is quoted per the project as each property and situation is unique.

What is your typical process for working with a new customer?

We would typically have a call to learn whether we're a good fit for each other. If the customer wants to proceed, there would be a site visit to assess the property and any improvements needed. A proposal document would then be sent with a contract to sign. Once the contract is signed, the project would begin.

What education and/or training do you have that relates to your work?

I have almost 20 years of marketing experience in large corporations. I have almost 20 years of experience flipping houses, and buying investment properties. I am a licensed REALTOR in Minnesota. I am also part of a national short term rental mastermind - STR Secrets.

How did you get started doing this type of work?

I created and managed my own investment properties and loved it so much, I wanted to share what I learned with others to help them achieve similar successes.

What types of customers have you worked with?

I have worked with long term real estate investors who want to see higher rates of return on their investments with no extra work on their part.

Describe a recent project you are fond of. How long did it take?

My most recent project was a 5 bed, 4 bath historic home in Whittier Minneapolis. The property is 120 years old, so needed a fair bit of renovation to make it fit to be a higher end short term rental. The renovation and set-up took approximately 10 weeks to complete, including a full rewire, repainting and furnishing of the 4000 sqft home.

What advice would you give a customer looking to hire a provider in your area of work?

Make sure the property manager is familiar with vacation rentals or short term rentals. They are very different to long term rentals. It's a hospitality business, where the guest needs to receive the highest level of service to maintain a 5 star rating for the property, and therefore maximize revenue. Also make sure you're not just a number. Find a property manager that cares, that is going to put the effort in every day to helping you maximize your revenue. Short term rentals are not a 'set it and forget it' type business. They need to be tweaked every day. Finding a property manager with complimentary skills is a bonus. I.e. interior design, marketing, construction etc. Having someone you can rely on to give you advice to improve your property in a holistic way will give you much more value than just someone to take bookings.

What questions should customers think through before talking to professionals about their project?

Recommended questions to ask: 1. What is your background? 2. Why should I choose you? 3. What does your fee include? 4. How do you optimize my listing? And bookings? 5. What type of revenue should I expect? 6. How do I get paid? 7. Do I need any licenses? Or special insurance? 8. Is there anything else I should ask?