Investing in real-estate, building a home in the hills or by the
beach to holiday with family, or just making a savvy investment – there may be
many reasons for you to have purchased a second home in Pondicherry, Coorg and
Goa. But does this home stay locked and unused except for the few days in a
year when children are able to take leave and the whole family can holiday together?
Are you unable to put it on rent for fear of not being able to manage and
oversee the maintenance from a different city? Are you not receiving expected
returns from your investment? If any of these issues sound familiar, you are
not alone. All across the country, in India's favourite holiday destinations,
there is an abundance of empty, unutilized "holiday homes" -
second-homes that owners are able to visit only a couple of times a year.
One of the major reasons for this is the lack of a trusted maintenance
and managing partner. When you consider visiting your holiday home, you also
have to devote a couple of days for cleaning and setting the place up. Further,
since maintenance and plumbing issues usually go undiscovered in an unused
home, you have to be ready for a few surprises.
Help is now here in the form of OYO Home. This is the latest
initiative from OYO – India’s largest hospitality-company with a mission to
create beautiful, high-quality living spaces.OYO
has built technology led capabilities of managing infrastructure quality,
delivering great guest experience and meeting owner expectations – which it is
now employing to unlock homes across the country.
In 5 of the most popular holiday destinations across India –
Pondicherry, Coorg , Goa, Nainital, and Shimla – OYO has unlocked over 300
homes to 15,000 guests. The company takes care of maintenance,
upgradation and repair, housekeeping, revenue-management and marketing. It has
a dedicated representative called OYO Captain who visits the property regularly
for maintenance and upkeep, as well as checking in the guests and responding to
their needs. OYO also works with home
owners to upcycle their current space and establish functional aesthetics to
make the homes beautiful and comfortable. Home-owners receive
higher yields from OYO Home's revenue share model as compared to rentals.
Antonio
Pinto, owner of a home in Goa, stays in Germany. According to him, “I live outside the country 6 months of the
year so my home in Goa stays locked for a large part of the year. It’s not easy
taking care of the property especially since regular maintenance and upkeep
could not happen. So when this opportunity came up, I thought to give the OYO
folks a chance. This has been one of the best decisions – not only does OYO
takes great care of the property but they also did a good job with refurbishing
the interiors to give it a great, heritage look. All this, while I sit back and
relax here in Germany and get a monthly deposit in my account.”
Owners like the professional maintenance of their home and the
enhanced yield from their asset. They love
the trust and one-stop-shop service that comes with partnering with OYO. Owners
are happy that their locked homes are being cleaned and furnished, regularly
maintained and are now being utilised. An added benefit is the assurance that
they can visit their holiday home anytime and without prior planning – since
OYO ensures the home is clean and functional at all times.
Amar Dhamane from Kolhapur says, “I am
delighted to partner with OYO. The team took charge of managing and beautifying
interiors, space, and design, something we do not have expertise in. Our Goa
property now looks fantastic and has been fetching handsome returns in terms of
business.”
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