Pinstay – A Sneak peak into how a this Property Management company 5X their Company During MCO(while everyone is dying)
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We had the opportunity to speak with Wong, the founder of Pinstay, to unravel the core behind their success. Sabah Airbnb market has always depended on tourists. During the pandemic, Airbnb operators are struggling to maintain investors' satisfaction.
“During the pandemic, we lost 70% of our sales immediately. Operators need to think outside the box just to maintain their business. ”
- Wong Ing Lieng (Pinstay CEO)
As a property investor, managing the property is always a problem they must face. Pinstay, a property management in Sabah, has been helping many property owners to manage their property. They make property management effortless.
They started with 8 units in ITCC. They have been growing firmly even in the pandemic period. Many Airbnb has failed during MCO, but they have expanded their business by having over 100 units across multiple properties located across Sabah. They intend to achieve 300 units. They were one of the only operator in Sabah running even in MCO.
What Did Pinstay Do Differently?
Image Credit: Canva
1) Do things out of the box
“We had to try everything, and it was life and death.”
During this period, to help the investors to secure their rental income, they collaborate with others, such as live streamers and Miss Sabah. Not only did they manage to secure the investor's rental income, but through the collaborations, their audience was over 100K.
2) Dedicated Price and SEO specialist
“We have dedicated price managers and SEO specialists to boost our occupancy rate. If you search “Penampang” or other locations on booking.com, Agoda, or Airbnb, we would mostly be in the top 10”
- Jarone Choo (Chief Marketing Officer)
During the FMCO period, their highest occupancy rate reaches 28 days per month, while their highest average occupancy rate is around 21-22 days.
3) Unique and attractive Design
“We test everything, including design.”
The design has a direct impact on the occupancy rate. Thus, we have had over 30 different designs over the past years.
So far, the top 3 designs in Pinstay are:
- Bohemian
Performance Rate 190-230 Peak Occupancy 89%
- Garden
Performance Rate 200-230 Peak Occupancy 95%
- Classic Blue
Performance Rate 180-210 Peak Occupancy 86%
Why Did You Start Pinstay?
Image Credit: Canva
“In the year of 2019, our founder saw the potential in Sabah and came alone to Sabah alone to manage his newly invested apartments. His new venture hit a rough patch when he tried to rent out his apartment. He found out that managing several properties at the same time is not easy as it seemed and it was actually a full-time job. Our founder still believes in the potential of our land, Sabah holds. So, a decision was made. This personal experience inspired the birth of Pinstay; to serve investors, and hopefully one day, the public. “
- Pinstay Management
How Does Pinstay Work?
How does Pinstay exactly work? It is quite easy if you follow the steps below:
Step 1: Get in touch with Pinstay by filling up the contact form at the bottom of their homepage. They will contact you after they review your submission.
Step 2: Get your property renovation done by choosing the preferred interior design in Pinstay selection. Make your deposit, and they will do the work for you.
Step 3: Pinstay will optimally list your room on different platforms and price your property. There will be a professional photo shoot for each property. Your housekeeping and property maintenance will be included in their service.
Step 4: Everything is covered, and your monthly rental income is secured.
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