Short Term Rental Riches

278. Virtual Management Evolution: Meet Tim's Partner and Find Out What's Next!

Mar 11, 2025
Justin Winfield, a real estate veteran and co-founder of Corzly Inc., dives into the evolution of property management. He argues that traditional models are outdated and highlights how technology, especially AI, transforms the hospitality industry. Justin shares his global experiences, from coaching in China to running a boutique hotel in Colombia. Discover how virtual management boosts profitability and guest satisfaction while simplifying operations. He reveals why adapting to tech-first solutions is crucial for modern property owners.
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ANECDOTE

Justin's Real Estate Journey

  • Justin Winfield's diverse real estate background includes properties in China and Vancouver.
  • He also built an 11-story boutique hotel in Medellin, Colombia.
INSIGHT

Traditional vs. DIY Management

  • Traditional property management models are inefficient and expensive, often charging 20-30%.
  • DIY management, while potentially cost-effective, demands significant time and expertise.
ADVICE

Adapting to Evolving Guest Expectations

  • Adapt to rising guest expectations; they now demand hotel-like service in short-term rentals.
  • Consider virtual management as a solution for increased competition and guest demands.
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