StayPeachy's Fresh Approach to SA - How they Stand Out in a Saturated Market

February 17, 2023
Property
Written by
Team Hive

As the UK 'staycation' trend continues to rise, the market for short-term accommodation rentals has become increasingly competitive. But with so many options available across multiple platforms and OTAs, it can be difficult for hosts to stand out and attract the right guests.

However, one property company that is managing to do just that in their local area is StayPeachy, founded by Hive member Candice Dougall.

Through a combination of innovative branding, exceptional customer service, and high-quality accommodations, StayPeachy really have their finger on the pulse when it comes to standing out in a crowd.

Having recently rebranded the Instagram account and launched a dedicated booking website (deliberately designed to encourage direct-bookings), we wanted to check-in with Candice and see how she's finding managing an SA business, and see if she has any advice to offer others thinking of creating and operating short-term holiday lets.

Please introduce yourself and your business

Hey, I'm Candice Dougall, co-founder of StayPeachy. My partner Dan and I buy and refurbish property to use as serviced accommodation in Dorset.

Did you have any previous experience of property, prior to refurbishing your Bournemouth apartment?

We bought our first flat together in 2020, which we refurbished and lived in, prior to which we had absolutely no experience in anything property or construction related!

In 2021 we bought another flat, with the intention of using it as a holiday-let and that's where StayPeachy was born!

Why did you decide to invest in property, and create your first serviced accommodation?

We decided to invest in property after learning about assets and liabilities from Robert Kiyosaki's 'Rich Dad Poor Dad' book, and not wanting to work until retirement age.

Did you consider permanently renting out the apartment for domestic-use, or was it always the plan for it to be a holiday rental? If so, what influenced the decision?

Being based in Bournemouth, where purchase prices are quite high, we weren't confident that buy-to-lets would generate the returns we were looking for, so we researched other ways to optimise property investment – considering the huge amount of tourism we get on the South Coast, we decided serviced apartments would be perfect.

What research did you have to do to predict how profitable/successful a SA would be in your area?

We gathered data from online travel agents and websites like AirDNA to calculate nightly rates and occupancy levels in our local area, and we discovered that there was potential to earn 4x as much by holiday letting (compared to a standard AST).

If you don't mind us asking, how did you get into the financial position to invest in your first property?

After all of our research, we were able to approach family for private investment to help get us started, along with our own savings and the equity we pulled out of our first flat after refurbishing and refinancing.

Would you say it has been harder, or easier, than expected to market and let out the apartment? Were there any challenges you didn’t plan for?

After completing a full refurbishment, setting up and marketing the property as a SA was easier than I had expected, although being in a residential block did come with it's challenges (lease restrictions, disagreements with neighbours and management companies etc). Overall we've found it to be a great success and definitely the quickest way to maximise profit to pay back our investors.

From your experience of running a SA so far, what advice or recommendations would you give to others thinking of doing the same?

I've been managing our Bournemouth SA for nearly a year now and for the most part, it's fairly easy (I think all my years in customer service prepared me for it!), however, you do get the odd guest(s) that will make you question whether or not it's worth it!

I think for anyone looking to get into SA and self-management, there are a few things to be aware of:
- You need to be available 24/7
- Customer service is paramount
- Systemising and automating is your best friend

Do you ever worry about damage to the property or troublesome guests? And how do you prevent or safeguard against this?

We do take preventative measures when setting up, such as installing cameras, noise monitors, smart locks and smart heating, but even with all of this, things will still get damaged or stolen and monthly maintenance is required to ensure that everything is in prime condition, we just try to fix things and move on, it's all part of the job.

In terms of practicality, how do you manage the operational side of a SA? Such as bookings, cleaning, communications etc. Are you able to do all of this alongside a full-time job?

At the moment, I'm managing 6 properties (after taking on a block of SA for a family member), and Dan is still in full-time employment to support us whilst we continue to grow the business.

We're just about to launch another SA on Weymouth seafront so I think we'll see how that one performs in comparison to Bournemouth, before deciding on which area to hone in on.

For some, neutral colours and basic design is the way to go with holiday rentals - to attract a wider demographic. What made you go against the ‘norm’, and do you think it has paid off?

With the staycation boom after covid, we realised the importance of standing out in a saturated market, so we thought we'd do this using branding and design.

At the time of designing, I was told by countless people not to go too bold with the colour palette and painting ceilings etc as this could alienate a wider demographic, but I'm so glad we didn't listen! I love that we create colourful, curated spaces that aren't just aesthetically pleasing but offer practicality and comfort throughout.

Did you create the StayPeachy brand before you began designing the interiors of the apartment? If so, did it help you create a cohesive product?

We initially landed on Peach Apartments, with the tag line 'Stay Peachy', as we wanted to create a positive, warm, home-from-home vibe, where all is 'peachy'. We have since ditched Peach Apartments and have fully embraced staypeachy in our social media presence and SA branding.

The brand definitely influenced the interior design (which was all done by us), and we have had such amazing feedback from our guests, about how welcoming the space is and the quality of the finish.

How do you strive to offer an unparalleled experience for your guests – and do you think it benefits your business?

Along with the interior design, we are dedicated to providing an exceptional experience, so we go above and beyond what is expected. We supply products from local businesses, vegan, eco-friendly toiletries, discounts at local independent cafes and restaurants and we will soon be planting a tree for every booking we receive through our new website www.staypeachyapartments.co.uk

Sustainability is really important to us too. We try to reuse, up-cycle and ‘DIY’ wherever we can. We love to give second-hand furniture a new lease of life (which is so much better for the planet, and our pockets!).

We also commission local creatives to create unique pieces for our apartments instead of buying mass-produced artwork.

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As well as the exceptional interior design schemes, and level of customer experience mentioned above, we think that StayPeachy's use of social media needs mentioning here too, as well as their smart decision to encourage direct bookings.

Looking at their newly updated Instagram page, StayPeachy is a great example of a holiday-let business that is effectively using their social media in unique ways, in order to attract their target audience, stand out from competitors, and engage potential guests in new and lasting ways.

Utilising their already existing strong brand identity, StayPeachy have used eye-catching graphics and visuals to engage their audience and make their posts (and account) stand out on their followers' feeds.

By leveraging Instagram's grid system, they have set out to create a type of mini landing page within the platform, showcasing their USPs, 'best bits', and reviews in an easily digestible format – ideal for low-attention span browsers who prefer to skim and quickly absorb information.

We can see that they are also using Instagram's other features such as reels to showcase valuable location-relevant content, and create a sense of community among their followers. By using Instagram in this strategic way, StayPeachy has successfully built a loyal following of customers who not only enjoy their properties but also feel connected to their brand.

We love that (much like within the property itself) the brand flows effortlessly through the different channels to create a seamless brand experience.

They have successfully used consistent branding elements (such as fonts, design styles, colour schemes, and style of photography) across their properties, website, and social media platforms, which helps to create a cohesive look and feel across the board.

Their newly launched website has been designed to specifically encourage direct bookings (avoiding those costly OTA fees), and effectively positions them as a market-leading accommodation option in their local area.

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Keen to see the next StayPeachy property? Make sure you give them a follow!

Follow StayPeachy on Instagram
Visit the StayPeachy website