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Platihome – Tenerife

Transforming Property Management: Platihome's Journey with Flataway

Since partnering with Flataway in 2023, Platihome has revolutionized its operations, boosting efficiency, occupancy rates, and revenue significantly. Leveraging Flataway's cutting-edge technology and automation solutions, Platihome has streamlined operations and elevated guest satisfaction, demonstrating the impactful synergy of strategic collaboration and innovative tech in property management.
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Beatris

Manager  at 
Platihome
Since partnering with Flataway in 2023, we've transformed our property management, enhancing efficiency and guest satisfaction significantly. Their software and automation have streamlined operations, leading to a 24% portfolio growth and a 14% rise in occupancy rates, which boosted our revenue by 32%. Flataway's competitive pricing and exceptional support have played a key role in our achievements. We look forward to further growth in this fruitful partnership.

Background

In the dynamic landscape of property management, efficiency and innovation are vital for success. A leading property management firm, tasked with managing a diverse portfolio of vacation rental properties, faced significant operational challenges stemming from manual processes and outdated technology. Recognizing the need for a transformative solution, the firm sought a strategic partner to enhance operational efficiency and drive superior outcomes.

Challenge

Managing multiple properties efficiently proved to be a daunting task for the property management firm Platihome. Manual processes and limited automation hindered their ability to optimize occupancy rates and revenue potential. Seeking to overcome these challenges, the property management company Platihome decided to identify a partner capable of providing advanced technology solutions and strategic support.

Solution

After careful consideration, the property management company Platihome started the partnership with Flataway in the summer of 2023. Leveraging a comprehensive software stack equipped with advanced solutions for communication, maintenance tracking and revenue management, Platihome aimed to streamline its operations and unlock new efficiencies.

32%

increase in revenue year-over year

14%

increase in occupancy

24%

more properties under management in 6 months

Process

The implementation process involved seamless integration of Flataway’s software stack into the existing systems of the property management firm. Collaborative efforts between the two entities ensured a smooth transition, with extensive training provided to the company‚Äôs staff in order to automate processes and maximize efficiency. The partnership with Flataway resulted in significant improvements across key performance indicators:

Automation

Through the implementation of automation solutions, the property management company was able to streamline activities with repetitive tasks, such as the arrival process, guest communications, and revenue management. This resulted in improved productivity and resource allocation, allowing the company to focus on strategic activities, such as acquiring new properties under management.

Increase in Occupancy Rate

Data-driven insights provided by Flataway led to a notable increase in occupancy rates across the managed properties. Vacancies were filled more efficiently, contributing to a more stable revenue stream. The occupancy rates increased by 14% on a year-over-year basis.

Revenue Growth

The optimization of nightly rates resulted in higher revenue for the property management firm. The average daily rate increased by 18% year-over-year. By leveraging Flataway’s solutions, the company achieved substantial revenue growth, surpassing initial expectations. Platihome managed to focus on acquiring new clients and grew the number of properties in their portfolio by 24% during the first 6 months of the partnership.

Ongoing Support

Throughout the partnership, Flataway provided exceptional ongoing support. The responsive and knowledgeable team addressed concerns promptly, ensuring uninterrupted operations and homeowner satisfaction.


Summary

The partnership between Platihome and Flataway has proven to be transformative in revolutionizing property management operations. By leveraging innovative technology solutions and strategic guidance, the property management company has overcome operational challenges, optimized performance, and achieved significant growth. As the partnership continues to evolve, both parties are poised to drive further success and deliver exceptional value to homeowners in the property management industry.

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