income potential consulting
explore the income potential of a bowen island property
Purchasing or optimizing a property on Bowen Island is exciting, but you might reasonably be asking: How can I make this property work for me? What am I permitted to do given the evolving tenancy and short term rental regulations in BC and on Bowen Island? How much could I potentially earn? Can I pull it off?
I help buyers and current owners make informed decisions about entering the vacation rental market on Bowen Island by providing property-specific insight into long term and short term rental income potentials. My vacation rental consulting services give you the information you need so you can purchase or plan confidently.
how it works:
step 1: complimentary phone call
This is a no-obligation, first step to explore the income potential of your property or a property you are considering purchasing. During out call, I will:
Introduce you to vacation rentals on Bowen Island.
Answer general questions about regulations, licensing, market demand, and more.
Lightly discuss the property you’re considering and its suitability for a vacation rental.
This is a perfect way to get oriented, and to see if my services are the right fit for your needs.
step 2: schedule a site visit
If you want to explore a property’s specific potential in more depth following our call, you can book a 60-90 minute site visit to explore your property’s specific potential. This service includes:
Walk-through of the home and land with an eye to any possible vacation rental spaces that could be developed, and whether it would attract demand on the market on Bowen.
Discussion of your goals and income aspirations. What we envision for the property will be influenced by many considerations that are specific to your life and aspirations. Do you want to rent your home when you’re away occasionally, or do you want to operate a year round or part time “bed and breakfast” suite or suites? Or might you consider doing both to maximize income?
Preliminary insights on income opportunities at the property, based on my experience designing, developing, and managing many vacation rentals on Bowen Island over the past six years.
High-level overview of licensing and compliance considerations for your property, including consideration of what questions you may want to direct to the municipality concerning the property.
This is ideal if you want a more property-specific perspective before investing in a full analysis.
Investment: $120 + GST
Note: This fee will be credited toward a Community Market Analysis (step 3) report should you decide you want more detailed, written report outlining a strategy, pricing, and monthly and annual income potential for the property under consideration.
step 3: community market analysis
If you are serious about understanding the income potential of a specific property, my detailed, written market analysis provides a deep analysis of what is possible and what may be needed to make your listing/s succeed. Specifically, it includes:
A detailed overview of property-specific recommendations for spaces that could be developed on your property to maximize income.
Strategic recommendations to maximize revenue, differentiate your property, and optimize performance.
A comparative review of similar listings on Bowen Island, sharing details about pricing, occupancy, amenities, and design. This gives us a good sense of how to position your space best so that it stands apart, and how to price it to be competitive.
Income projections for your listings, based on recommended seasonal pricing scenarios and average occupancy levels on the island.
A detailed overview of licensing and compliance considerations for your property, including consideration of specific questions you may want to direct to the municipality concerning the property.
Costs overview, including standard operating costs, management fees, maintenance, and insurance to give you a clear picture of net income potential.
Investment: $400 + GST
Note: The fee for the Community Market Analysis will be credited towards any future setup or management packages.
step 4: need more help?
If you decide to proceed with developing a vacation rental on Bowen, I’d be happy to speak to you about my other services for hosts—e.g., from set up support (e.g., licensing, business development, listing creation, interiors design to make your listing stand out, branding and website development, and more) to a variety of management packages to suit both hands on hosts and those who prefer a turnkey solution, to applying to join the discover bowen partner network for more exposure for your listing.