Who We Help
Developers want real estate to have the highest and best use valuation. Properties that include the option for nightly rental add value to the overall real estate options. However, Developers may need some support to succeed in this segment. Manor Blue s a Hospitality Services Company that supports the creation of a unique property development rental plan that addresses documentation and legal disassociation requirements that Developers often run into.
Highest and Best Use
Developers may seek the help from brands and property management organizations. Often Developers are shocked to find the cost or binding relationships from these options to be too much. Manor Blue is a boutique specialty firm. We right size the services, the upfront costs, and the deliverables to suit the Developer. We understand the challenges of trying to get started and have options.
Will It Pencil
Creating a basic Proforma for rental revenue projections can be a key element in getting financing in place. Manor Blue can help Developers create industry standard documentation utilizing their initial projections. These documents can help Developers decide on amenity features, correct target sales prices, and see the realistic picture for rental and business impacts. There are hidden costs in operating rental in addition to opportunities for capitalization of rental program elements like FF&E. Manor Blue is experienced in guiding Developers through these decisions and industry standards.
Municipalities are often interested in the types of jobs and the anticipated salaries that a rental development will create in the area. Manor Blue can create an Assumptions Staffing Report with job type quantities with anticipated salaries and wages to assist with this information. If you need support in attending important meetings where hospitality products will be discussed, Manor Blue can be your hospitality subject matter expert in the room to help represent and translate requirements for your project.
Understanding the local market’s current home rental and commercial hotel rates can be an important factor in the proforma. Manor Blue can work with the Developer’s market feasibility report company to review relevant comparable product and ensure the segment of rental stay is assessed correctly. Manor Blue can help with creating a Competitive Set that is more accurate based on more factors that include planned amenitization and quality of the rental offering.
Not a Security
Developers have decisions to make when considering city and county use conditions, rental programs, CC&Rs and amenity access. HOAs that work to manage nightly rental as a single organization are often the most successful. However, it is important to stay away from the conditions of creating a rental program that the SEC could consider a Security. There are a few key conditions that define a rental pool as a security. Working with Manor Blue to review the variables and conditions of a productive and fair rental program, while working with a law firm that has nightly rental experience to draft the HOA documents or amendments is an important step.
Typically, a Developer or Sales Team is not allowed to represent a rental program to a buyer. Manor Blue can fulfill the function of creating appropriate documentation for the Sales Team as well as performing the representative function for answering questions about the potential rental program at the development.
Manor Blue focuses on developing a quality guest portfolio through attentive and high touch service. Manor Blue ensures quality for the guest stay that keeps rates and ratings high. Our subject matter expert team can maximize revenue opportunities above typical market nightly rental fees.
Once open, as the HSC partner, Manor Blue can upsell guests on additional services and proactively address issues, bridging the gap between traditional lodging expectations and home rental maintaining the buyer’s expectations.
Property Manager Partner
A Hospitality Service Company partnered with a Property Management Company can often perform HOA management functions with rental services to keep residents, board members and property owners informed while keeping the HOA current and compliant. A one stop shop for the management of the entire community can reduce costs, simplify communications, and create a relationship of highly present community support.
We are your development partner. Manor Blue is a group of hospitality specialists that customizes every relationship in our markets. Depending on the Developer, the services could include:
- Assumptions Hospitality Proforma
- Assumptions Staffing Report
- Rental Competitive Set Development and Analysis
- Rental Program Representative
- Itinerary and Host for Sales Support
- Brand Relationship Sourcing
Who We Help
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