UNLOCK YOUR HOLIDAY HOME WITH OYO
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.”
So if you are looking for professional upkeep of your second home and a chance to earn a meaningful financial return from an otherwise locked asset, look no further. In case of queries, please reach out to.