Motel leases

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thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
January 22, 2012 - 12:02 am
Hi Forwardthinking3.
Hope you’re still in Wagga and enjoying success.
As I mentioned, we were seeking a motel leasehold in Wagga and
we have now purchased the Best Western Ambassador in Wagga so pls give us a call.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
February 26, 2012 - 12:35 am
Wagga is an excellent city for the motel industry.
Now we’re a part of it and on track.
Anyone need help with their motel search welcome to PM me.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW
607
Participant
@607
Join Date: 2014
Post Count: 1
February 8, 2014 - 9:53 pm
Hi
We are exploring the idea of placing a long term manager couple into our motel. We are on the market to sell but progress is slow as our leasehold is around the $1M mark. We use managers from time to time but we always find them incompetent, unreliable or they slack off. An incentive system would seem like a better idea for a long term period.
any ideas from readers will be appreciated.
thecrest
Participant
@thecrest
Join Date: 2004
Post Count: 992
February 15, 2014 - 1:13 am
Hi 607.
You can place managers in there but can't tell them they're long term when it's on the market so I assume you mean longer than just relief managers. Difficult to employ managers with the property on the market unless they're in the know. Been there done that. The managers need to know you're selling and that they could be out the door 6-8 weeks after a deal is done. With one of our motels we employed managers to handle the day to day operations and the selling process and rewarded them for both.
We guaranteed them 6 months work minimum, then 3 months min salary after a deal is done. During the sale process it's obviously very important that the motel looks its best, expect potential buyers to mystery shop and stay there. Manager slackness is not an option and causes prompt termination. Reporting is detailed and frequent. KPI's are realistic. Regular surprise visits to the property are essential.
If the marketing of the property is done properly, you won't need the managers for long anyway.
Some questions :
How long has it been on the market ?
How is the property being marketed ?
Had any buyer inspections ?
Is the price right for the market ?
Good luck
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Me
selling motels in NSW