Register Your Property With
Kennedy Towers

Frequently Asked Questions

• Will Short Term Rentals cause more Wear and Tear?

  With an annual rental your unit is occupied 100% of the time; with short term rental our average occupancy rate is 70%. So your unit is used 30% less with short term rentals. Properties are also inspected a lot more frequently by our inventory assistants. Additionally, the fixed security deposit is a higher percentage of the rental value than an annual rental – therefore guests are less inclined to damage the property.
  With an annual rental your unit is occupied 100% of the time; with short term rental our average occupancy rate is 70%. So your unit is used 30% less with short term rentals. Properties are also inspected a lot more frequently by our inventory assistants. Additionally, the fixed security deposit is a higher percentage of the rental value than an annual rental – therefore guests are less inclined to damage the property. with an annual rental your unit is occupied 100% of the time; with short term rental our average occupancy rate is 70%. so your unit is used 30% less with short term rentals. properties are also inspected a lot more frequently by our inventory assistants. additionally, the fixed security deposit is a higher percentage of the rental value than an annual rental – therefore guests are less inclined to damage the property.

• How do Short Term Rentals Provide More Flexibility?

  If you decide to do an annual rental, you are locked into that decision for a minimum of two years. This is because RERA enforce an automatic renewal of the rent at the same rate after the first year so effectively all tenancy contracts are automatically renewed (and you can’t issue 12 months’ notice in the first year). If you do short term, you are completely flexible and if you wanted to raise the money for something at a later date, you can give us notice and we can advertise the property for an annual rental for you.
  If you decide to do an annual rental, you are locked into that decision for a minimum of two years. This is because RERA enforce an automatic renewal of the rent at the same rate after the first year so effectively all tenancy contracts are automatically renewed (and you can’t issue 12 months’ notice in the first year). If you do short term, you are completely flexible and if you wanted to raise the money for something at a later date, you can give us notice and we can advertise the property for an annual rental for you. if you decide to do an annual rental, you are locked into that decision for a minimum of two years. this is because rera enforce an automatic renewal of the rent at the same rate after the first year so effectively all tenancy contracts are automatically renewed (and you can’t issue 12 months’ notice in the first year). if you do short term, you are completely flexible and if you wanted to raise the money for something at a later date, you can give us notice and we can advertise the property for an annual rental for you.

• Can I Control the Pricing of my Property?

  There is a big difference between real estate pricing and tourism pricing. Tourism pricing is dynamic while real estate pricing is static. We have revenue managers who are constantly assessing fluctuations in pricing in order to maintain competitiveness of the property and to increase the occupancy rate. This ensures that the property get the highest revenue at all times. If the property is sitting vacant because of a fixed price then it is earning you nothing; if we amend the pricing it is better to fill the unit with a flexible price during a quiet period. We therefore need to retain autonomy over this because it is inconvenient for both of us to obtain approval for the daily fluctuations in pricing.
  There is a big difference between real estate pricing and tourism pricing. Tourism pricing is dynamic while real estate pricing is static. We have revenue managers who are constantly assessing fluctuations in pricing in order to maintain competitiveness of the property and to increase the occupancy rate. This ensures that the property get the highest revenue at all times. If the property is sitting vacant because of a fixed price then it is earning you nothing; if we amend the pricing it is better to fill the unit with a flexible price during a quiet period. We therefore need to retain autonomy over this because it is inconvenient for both of us to obtain approval for the daily fluctuations in pricing. there is a big difference between real estate pricing and tourism pricing. tourism pricing is dynamic while real estate pricing is static. we have revenue managers who are constantly assessing fluctuations in pricing in order to maintain competitiveness of the property and to increase the occupancy rate. this ensures that the property get the highest revenue at all times. if the property is sitting vacant because of a fixed price then it is earning you nothing; if we amend the pricing it is better to fill the unit with a flexible price during a quiet period. we therefore need to retain autonomy over this because it is inconvenient for both of us to obtain approval for the daily fluctuations in pricing.

• Am I Tied into a 12 month Contract?

  You aren’t. It is a flexible contract with a 3 month rolling break clause which is a massive benefit over annual rentals where you are tied into 1 – 2 years. If you make a mistake with annual rentals (renting too low before the market goes up) then you are locked into that low rent for 2 years (rent is automatically renewed at the same rate after the first year if the tenant wants to stay). With our dynamic pricing model, you never miss an improvement in market conditions.
  You aren’t. It is a flexible contract with a 3 month rolling break clause which is a massive benefit over annual rentals where you are tied into 1 – 2 years. If you make a mistake with annual rentals (renting too low before the market goes up) then you are locked into that low rent for 2 years (rent is automatically renewed at the same rate after the first year if the tenant wants to stay). With our dynamic pricing model, you never miss an improvement in market conditions. you aren’t. it is a flexible contract with a 3 month rolling break clause which is a massive benefit over annual rentals where you are tied into 1 – 2 years. if you make a mistake with annual rentals (renting too low before the market goes up) then you are locked into that low rent for 2 years (rent is automatically renewed at the same rate after the first year if the tenant wants to stay). with our dynamic pricing model, you never miss an improvement in market conditions.

• Why Can't Multiple Agents Lease My Property?

  DTCM require each operator to have exclusivity over the property. This is because they want to hold each operator accountable for everything that happens in that property. On top of this being a legal requirement, working with other agents is very impractical; this is not a one-off transaction, we will be handling many bookings on the same unit throughout the year, and it would be impossible to synchronize availability and service provision with another operator. It would also not enhance your returns, because we advertise on every single short term advertising channel so it won’t help to have a duplicate listing.
  DTCM require each operator to have exclusivity over the property. This is because they want to hold each operator accountable for everything that happens in that property. On top of this being a legal requirement, working with other agents is very impractical; this is not a one-off transaction, we will be handling many bookings on the same unit throughout the year, and it would be impossible to synchronize availability and service provision with another operator. It would also not enhance your returns, because we advertise on every single short term advertising channel so it won’t help to have a duplicate listing. dtcm require each operator to have exclusivity over the property. this is because they want to hold each operator accountable for everything that happens in that property. on top of this being a legal requirement, working with other agents is very impractical; this is not a one-off transaction, we will be handling many bookings on the same unit throughout the year, and it would be impossible to synchronize availability and service provision with another operator. it would also not enhance your returns, because we advertise on every single short term advertising channel so it won’t help to have a duplicate listing.

• Do You Guarantee More Income than an Annual Rental?

  The disparity between short term and annual rental income depends on the property type, location, furnishing style and the broader economic environment. On average, we see a 30% increase in short term rental yields over annual rental yields. Since 2015, the market has been regulated by DTCM and prices have stabilized as the market has matured. Short term rental pricing remains at a premium to annual rentals, delivering extra value for landlords on a net basis. Whilst there is no guarantee of rental yields, Kennedy Towers only onboards property types which have a historic track record of over-performance as we are determined to build long term relationships with our clients. Please feel free to contact us below for a free financial projection based on historic, comparable data.
  The disparity between short term and annual rental income depends on the property type, location, furnishing style and the broader economic environment. On average, we see a 30% increase in short term rental yields over annual rental yields. Since 2015, the market has been regulated by DTCM and prices have stabilized as the market has matured. Short term rental pricing remains at a premium to annual rentals, delivering extra value for landlords on a net basis. Whilst there is no guarantee of rental yields, Kennedy Towers only onboards property types which have a historic track record of over-performance as we are determined to build long term relationships with our clients. Please feel free to contact us below for a free financial projection based on historic, comparable data. the disparity between short term and annual rental income depends on the property type, location, furnishing style and the broader economic environment. on average, we see a 30% increase in short term rental yields over annual rental yields. since 2015, the market has been regulated by dtcm and prices have stabilized as the market has matured. short term rental pricing remains at a premium to annual rentals, delivering extra value for landlords on a net basis. whilst there is no guarantee of rental yields, kennedy towers only onboards property types which have a historic track record of over-performance as we are determined to build long term relationships with our clients. please feel free to contact us below for a free financial projection based on historic, comparable data.