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Transforming Property for Short-Term Rentals: A Competitive Airbnb Proposal Report
Table of Contents
Transforming Property for Short-Term Rentals: A Competitive Airbnb Proposal Report ............ 1
1. Introduction ................................................................................................................................. 2
a) Project Lifecycle ..................................................................................................................... 2
Planning .................................................................................................................................. 2
Execution ................................................................................................................................ 2
Monitoring and Control .......................................................................................................... 2
Closure .................................................................................................................................... 2
b) Scope Statement ..................................................................................................................... 2
c) Work Breakdown Structure (WBS) ........................................................................................ 3
2. Summary Table for the Detailed Plan ......................................................................................... 3
3. Analysis of the Project ................................................................................................................ 4
a) Stakeholder Analysis .............................................................................................................. 4
b) Financial Analysis and Projected Profit ................................................................................. 5
4. Recommendations ...................................................................................................................... 8
i) Probability of Completion within 4 Weeks ............................................................................. 8
ii) Recommended Team Structure and Key Belbin® Roles: ...................................................... 8
iii) Any Other Convincing Recommendations ........................................................................... 9
5. Project Assumptions ................................................................................................................... 9
Appendices.................................................................................................................................... 12
Appendix 1: Project Deliverables/Milestones .......................................................................... 12
Appendix 2: Gantt Chat ............................................................................................................ 14
1
1. Introduction
This proposal outlines the conversion of a property adjacent to Brighton and Hove's
Waterfront into a modern living space well-suited for short-term rentals via Airbnb. Amid
growing interest in temporary accommodations, properties briefly put up for sale receive
renewed attention (Wachsmuth & Weisler, 2018). Aiming to meet the set standards, this proposal
present a well-structured approach for arranging, furnishing, and configuring the property
through this proposal.
a) Project Lifecycle
Initiation
At the initiation of the Brighton Waterfront Haven project, extensive evaluations of its
practicality will unfold. The scope, objectives, and restrictions get detailed attention during this
period (Russell et al., 2018). Verify the property owner's consent before initiating Airbnb
listings; ensure a comprehensive understanding of tasks involved through a defined scope of
work.
Planning
Success demands meticulous planning during the Brighton Waterfront Haven's
preparatory stage. In this phase, crafting a comprehensive project roadmap is paramount,
encompassing expense distribution, job assignment, estimate durations, and creating a work
breakdown structure (WBS).
Execution
The execution phase of the "Brighton Waterfront Haven" project marks the realization of
the carefully devised plan. The process involves acquiring necessary resources, hiring qualified
professionals, executing intricate tasks, installing advanced security systems, obtaining energy
performance certification, and diligently managing waste clearance (Iyer & Banerjee, 2016).
Monitoring and Control

Proactive monitoring and rigorous control are essential elements of the "Brighton
Waterfront Haven" project's success. These actions monitor progress closely, detect deviations
from the plan, and quickly apply corrective measures when required.
Closure
The "Brighton Waterfront Haven" project's closure represents the successful completion
of project activities and the official transfer of the renovated property. In this phase, thorough
final inspections will be conducted, followed by validation of deliverables and confirmation of
client acceptance readiness.
b) Scope Statement
The project's scope includes the comprehensive transformation of the property within 3
miles of Brighton and Hove's waterfront into an inviting and contemporary living space, tailored
2
for short-term Airbnb rentals. The objectives of the project include interior design, furniture
setup, security system installation, EPC acquisition, waste removal, and professional
photography. The package includes a stylish interior, advanced amenities, security features, an
EPC, efficient waste management, and photographs that are sure to capture the attention of
potential guests. Of note is that the project excludes structural modifications, major renovations,
ongoing property management, while adhering to set budget constraints, commencing on August
28, 2023, and considering prerequisites such as double glazing installation, security systems
setup, and waste clearance before the scheduled photoshoot. Material availability, regulatory
compliance, timely contractor engagement, and a stable short-term rental market demand form
the foundation of positioning the property as an attractive and profitable option for prospective
Airbnb guests.
c) Work Breakdown Structure (WBS)

The "Brighton Waterfront Haven" project's WBS seamlessly organizes vital tasks for the
property's remarkable transition into a captivating short-term rental on Airbnb. From top-level
tasks to minute sub-tasks, the WBS illustrates a seamless chain of duties working toward a
unified objective. Starting with "Interior Decoration," a budget of £12,000 is allocated to cover
various aspects including design conceptualization, decorative element procurement, painting,
floor enhancement, and lighting fixture installation. When "Furnishing and Setup" has an £8,000
budget, it entails furniture selection, bedding acquisition, kitchen configuration, and bathroom
amenities installation. This category, backed by £4,500, covers the acquisition, installation, and
assurance of quality. Attaining an Energy Performance Certification (EPC), priced at £600,
requires planning, assessing the property, implementing necessary adjustments, and producing
the required report. A total of £800 is allocated for the combined cost of "Waste Clearance,"
"Professional Photography and 3D Virtual Tour," and "Miscellaneous Costs," stemming from
£1,500 in collective expenditures. By allocating resources with precision, the project's
transformation vision may be fully actualized by a total allocation of £28,600 .
2. Summary Table for the Detailed Plan

The following table provides a concise overview of estimated costs, durations, and
critical path tasks identified in the "Brighton Waterfront Haven" project, highlighting key aspects
of the project's execution:
Task(s) Estimated Cost Duration (In Critical

(£) Days) Path
Interior Decoration £12,000 20 Yes
Furnishing and Setup £8,000 15 Yes
Security System Installation £4,500 10 Yes
3
Energy Performance Certification £600 5 Yes

(EPC)
Waste Clearance £800 5 No
Photography & 3D Virtual Tour £1,200 7 No
Miscellaneous Costs £1,500 - No
Total Project Budget Allocation £28,600 - -
3. Analysis of the Project
a) Stakeholder Analysis
i. Property Owner (Primary Stakeholder): Property value and rental income are the
owner's main focus areas (Wickramaarachchi, 2016). By frequently updating
stakeholders and incorporating their input, alignment with project goals is achieved.
ii. Estate Agency (Project Sponsor): Project success and enhanced reputation are their
main interests. Engaging them through regular reports and input-seeking fosters their
investment.
iii. Interior Design Team: Interior design is greatly enhanced by their involvement.
Collaborative design sessions, mood board reviews, and regular feedback loops are
essential for engaging them.
iv. Furniture Suppliers: Procurement and delivery of furnishings are of utmost importance
to them. Meeting deadlines, updating regularly, and preparing for delays - these are key
to effective engagement.
v. Contractors and Installers: The primary emphasis is on meeting deadlines while

executing tasks. By incorporating thorough project briefings, timely progress reviews,
and prompt problem-solving, engagement is strengthened.
vi. Security System Provider: In terms of the system's installation and operation, their
attention lies. Engage them in system design talks, regular check-ins, and quality
assurance tests to encourage their participation.
vii. Photographer and 3D Tour Creator: Capturing the property's allure is their primary
responsibility. Pre-shoot consultations, styling collaboration, and post-production reviews
should be thoroughly engaged.
4
viii. Environmental Agency: Worried about waste disposal and management Compliance
with waste disposal rules, recycling progress reports, and waste reduction plans are
essential.
ix. Local Community: Disruption must be kept to an absolute minimum to guarantee a

successful project. Through community meetings and transparent sharing of project
timelines, engagement is fostered.
x. Guest Experience Manager: Focused on ensuring guest satisfaction. Explore amenities,

decor, and a welcoming living space through discussions.
xi. Energy Performance Assessor: Concerned with property's energy efficiency. Enhance
site accessibility by offering relevant information and incorporating suggested
improvements.
xii. Local Authorities: Responsible for compliance and permits. Engagement is achieved
through detailed documentation, prompt answers, and compliance with rules.
xiii. Marketing Team: Listing creation holds their interest. Share photography ideas,
property highlights, and marketing strategies to align interests.
xiv. Financial Department: Concerned about budget adherence. By regularly updating

budgets, tracking expenses transparently, and making cost-effective decisions,
engagement is ensured.
xv. Neighboring Properties: Concerned about construction impact. Communicate through

advanced planning of loud activities, site tidiness, and addressing concerns.
Key to successful stakeholder engagement are frequent communication, customized

updates, involvement in decision-making, and swift resolution of concerns (Bourne, 2016). By
promoting collaborative relationships, the Brighton Waterfront Haven project aspires to
guarantee project success and stakeholder delight.
b) Financial Analysis and Projected Profit

Financial analysis is crucial to determine the Brighton Waterfront Haven's profitability as
an Airbnb rental property. Assessing the financial landscape, investors can determine the
project's potential profitability and offer practical guidance to the estate agency.
i. Investment Costs : The total cost of the project, encompassing interior design, furniture,
security system installation, EPC evaluation, waste disposal, photography, and various
expenses, equals £28,600.
ii. Revenue Projection: Market research and demand trends indicate an average nightly
rental rate of £150 (Statista, 2023). With an average occupancy rate of 70%, the projected
5
annual revenue can be estimated as follows: Revenue equals £150 multiplied by 0.70 and
then multiplied by 365 to reach an approximate of £38,325.
iii. Operating Expenses: Cleaning, maintenance, utilities, management fees, and marketing
expenses are typical in short-term rentals. The approximate of the annual expenses at
£8,000.
iv. Net Operating Income (NOI): The result of revenue minus operating expenses is Net
Operating Income. The annual revenue minus operating expenses equals £30,325 for
NOI.
v. Projected Profit: To determine projected profit, it is essential to consider these
additional costs: mortgage payments, taxes, and more. Assuming mortgage payments of
£10,000 per year and taxes of £5,000 per year, the projected profit can be calculated by
deducting mortgage payments and taxes from projected NOI, hence can predict a profit of
£15,325.
vi. Return on Investment (ROI): The project's profitability hinges on ROI, acting as a vital
indicator. This calculation represents the percentage return on investment, calculated by
dividing projected profit by initial investment costs. The return on investment is
approximately 53.7% when put £28,600 into a project with a predicted profit of £15,325.
Financial evaluation indicates that "Brighton Waterfront Haven" project offers an

encouraging ROI of around 53.7%. For the property, this indicates a prosperous economic future
as a short-term Airbnb rental.
c) Risk Analysis and Risk Register
A comprehensive analysis of potential risks is vital to anticipate and address challenges that may
arise during the "Brighton Waterfront Haven" project (Junkes et al., 2015). The following risk
register outlines key risks, their potential impact, likelihood, and proposed risk response
strategies:
No. Risk Description Potential Impact Likelihood Risk Response Strategy
1 Delays in Material Project timeline Moderate Maintain buffer time for

Procurement disruption procurement, work with multiple
suppliers, expedite critical items
when necessary.
2 Contractor Delayed task Moderate Engage contractors with proven

Availability completion track records, pre-schedule
contractors, establish backup
options.
3 Regulatory Changes Non-compliance, Low Monitor regulatory updates,

maintain open communication with
6
additional costs authorities, adapt plans accordingly.
4 Budget Overrun Financial strain Moderate Regularly track expenses, review

budget vs. actuals, implement cost-
saving measures if needed.
5 Adverse Weather Construction Low Have contingency plans for outdoor

Conditions interruptions tasks, monitor weather forecasts,
schedule tasks accordingly.
6 Interior Design Aesthetic Moderate Maintain close communication with

Discrepancies misalignment design team, conduct frequent design
reviews, involve the property owner.
7 Furnishing Delivery Project timeline Moderate Order items well in advance, work
Delays disruption with reliable suppliers, explore
expedited shipping options.
8 Security System Guest safety Low Regular maintenance, quality

Malfunction compromised assurance checks, backup security
systems, immediate response to
malfunctions.
9 Low Occupancy Reduced revenue Moderate Continuous marketing efforts,

Rate competitive pricing, enhanced guest
experience, targeted promotions.
10 Negative Guest Reputation Moderate Prioritize guest satisfaction, swift

Reviews damage issue resolution, proactive
communication, continuous
improvement.
11 Energy Performance EPC rejection, Low Thorough assessment, compliance

Non-Compliance additional work upgrades if required, engage
certified assessors, maintain energy-
efficient practices.
12 Community Local Low Regular communication with

Disruption dissatisfaction, neighbors, minimize noisy tasks
complaints during sensitive hours, address
concerns promptly.
13 Photographer/3D Listing delay, Low Schedule in advance, maintain open
7
Tour Delays missed bookings communication, backup options for

photography and 3D tour creation.
14 Unsatisfactory Poor listing Moderate Work closely with the photographer,

Photography Quality presentation ensure property is well-prepared for
the shoot, review and approve
images.
15 Lack of Guest Low bookings Moderate Continuous market research, adjust

Demand pricing and marketing strategies,
explore different guest segments.
16 Technology Glitches Operational Low Regular system testing, technical

disruptions support on standby, immediate
response to glitches, backups for
critical data.
By proactively addressing these identified risks with the proposed response strategies, the
"Brighton Waterfront Haven" project aims to minimize potential negative impacts, maintain
progress, and ensure the successful completion of the transformation into a lucrative short-term
rental property on Airbnb.
4. Recommendations
i) Probability of Completion within 4 Weeks: The probability of completing the "Brighton
Waterfront Haven" project within the stipulated 4-week timeline is moderate. While the project's
scope is comprehensive and involves various intricate tasks, several factors contribute to this
assessment. A thorough analysis of task dependencies, resource availability, and potential risks
reveals that critical path tasks, such as interior decoration, furnishing, and security system
installation, are well-managed and likely to be completed within the set timeframe.
ii) Recommended Team Structure and Key Belbin® Roles: To ensure the successful
execution of the "Brighton Waterfront Haven" project, a well-balanced and multidisciplinary
team structure is recommended, aligning with key Belbin® roles. The team should consist of the
following roles:
 Project Manager (Coordinator): Responsible for overall project coordination,

task scheduling, resource allocation, and stakeholder communication. Ensures
timely progress and manages project risks.
 Interior Designer (Plant): Provides creative input for interior decoration, mood
board development, and aesthetic decisions, infusing the property with unique
style and ambiance.
8
 Procurement Specialist (Resource Investigator): Manages material and

furniture procurement, sourcing high-quality items within budget, and ensuring
timely delivery.
 Contractor Lead (Implementer): Oversees task execution, supervises

contractors, and ensures on-site activities align with project specifications and
timelines.
 Security System Expert (Monitor Evaluator): Ensures proper installation and

functionality of security systems, conducts quality checks, and assesses system
effectiveness.
 Photographer/Videographer (Completer Finisher): Captures high-quality

images and creates the 3D virtual tour, ensuring meticulous attention to detail and
a compelling visual representation.
 Guest Experience Manager (Co-ordinator/Team Worker): Focuses on

creating a guest-centric living space, ensuring amenities are guest-friendly and
managing the overall guest experience.
 Environmental Compliance Officer (Specialist): Ensures waste disposal and

recycling adhere to regulations, minimizing environmental impact and ensuring
sustainability.
 Marketing Specialist (Shaper/Resource Investigator): Develops a captivating

Airbnb listing, strategically markets the property, and drives bookings through
effective promotional strategies.
iii) Any Other Convincing Recommendations: By holding frequent meetings involving

stakeholders, clear communication, project alignment, and quick issue resolution can be ensured.
By documenting and applying lessons learned, the agency can enhance its project management
practices and overall competitiveness in the short-term rental market.
5. Project Assumptions
Assumptions were made based on industry standards, past experience, and available data
to aid in cost estimation and planning for the "Brighton Waterfront Haven" project. The project's
success is grounded in a logical and reasonable foundation, built on these assumptions.
i. Supplier Pricing Consistency: The assumption is that supplier pricing for materials and
furnishings will remain unchanged throughout the project schedule. Any major price
changes may affect budget projections, requiring subsequent adjustments when
necessary.
9
ii. Weather Conditions: Assuming ideal weather conditions, tasks can be completed
expeditiously.
iii. Contractor Availability: Scheduled availability and adherence to the project timeline are
contractors' expectations. For continued project progress in the face of unforeseen
absences, backup personnel are designated.
iv. Regulatory Compliance: Regulatory standards for these areas are likely to remain
constant. Should changes arise, swift actions will be taken to guarantee compliance.
v. Guest Demand: Demand for short-term rentals in the Brighton and Hove area is
anticipated to be consistent. Market trends and demand indicators will be closely
observed, leading to tactical marketing approach adjustments.
vi. Resource Availability: Resource availability is a given, allowing for smooth planning.
By having contingency measures, business owners can respond to unforeseen shortages.
10
References
Bourne, L. (2016). Targeted Communication: The Key to Effective Stakeholder Engagement.
Procedia - Social and Behavioral Sciences, 226, 431–438. Sciencedirect.
https://doi.org/10.1016/j.sbspro.2016.06.208
Iyer, K. C., & Banerjee, P. S. (2016). Measuring and benchmarking managerial efficiency of
project execution schedule performance. International Journal of Project Management,
34(2), 219–236. https://doi.org/10.1016/j.ijproman.2015.10.008
Junkes, M. B., Tereso, A. P., & Afonso, P. S. L. P. (2015). The Importance of Risk Assessment
in the Context of Investment Project Management: A Case Study. Procedia Computer
Science, 64(64), 902–910. https://doi.org/10.1016/j.procs.2015.08.606
Russell, J., Pferdehirt, W., & Nelson, J. (2018, September). Project Initiation, Scope, and
Structure. Unizin.org; University of Wisconsin-Madison.
https://wisc.pb.unizin.org/technicalpm/chapter/project-initiation-scope-and-structure/
Statista. (2023). Vacation Rentals - Worldwide | Statista Market Forecast. Statista.
https://www.statista.com/outlook/mmo/travel-tourism/vacation-rentals/worldwide
Wachsmuth, D., & Weisler, A. (2018). Airbnb and the rent gap: Gentrification through the
sharing economy. Environment and Planning A: Economy and Space, 50(6), 1147–1170.
https://doi.org/10.1177/0308518x18778038
Wickramaarachchi, N. (2016). Determinants of rental value for residential properties: A land
owner’s perspective for boarding homes. Built-Environment Sri Lanka, 12(1), 10.
https://doi.org/10.4038/besl.v12i1.7612
11
Appendices
Appendix 1: Project Deliverables/Milestones

Phase 1: Pre-Project Planning
1. Deliverable: Approved Project Proposal Report
 Milestone: Submission and Approval of Project Proposal Report by Agency -

August 22, 2023
Phase 2: Preparation and Setup
2. Deliverable: Interior Decoration Completion
 Milestone: Completion of Interior Decoration Tasks - September 15, 2023
3. Deliverable: Furnishing and Setup Completion
 Milestone: Furnishing and Setup Tasks Finalized - September 25, 2023
4. Deliverable: Security Systems Installed and Tested
 Milestone: Successful Testing and Integration of Security Systems - October 5,

2023
5. Deliverable: Energy Performance Certification (EPC) Report
 Milestone: EPC Assessment and Report Submission - October 10, 2023
Phase 3: Presentation and Photography
6. Deliverable: Waste Clearance and Site Preparation
 Milestone: Completion of Waste Clearance and Site Cleanup - October 15, 2023
7. Deliverable: Professional Photography and 3D Virtual Tour Content
 Milestone: High-Quality Photoshoot and 3D Tour Creation - October 20, 2023
Phase 4: Finalization and Listing
8. Deliverable: Property Listing on Airbnb
 Milestone: Property Listed and Available for Bookings - October 25, 2023
9. Deliverable: Marketing and Promotional Materials
 Milestone: Completion and Distribution of Marketing Materials - October 30,

2023
12
Phase 5: Project Completion
10. Deliverable: Final Project Documentation and Reports
 Milestone: Submission of Final Documentation and Reports - November 5, 2023
11. Deliverable: Project Closure and Handover
 Milestone: Formal Handover of Completed Property to Owner - November 10,

2023
The above milestones and deliverables are subject to periodic review and adjustment based on
project progress and any unforeseen circumstances. Effective management and communication
will ensure the timely accomplishment of these milestones, facilitating the successful
transformation of the property into the captivating "Brighton Waterfront Haven" short-term
rental on Airbnb.
13
Appendix 2: Gantt Chat
No: Task Task Timeline(s)

August September October November
1 Pre-Project Planning
2 Preparation and Setup
Presentation and
3 Photography
4 Finalization and Listing
5 Project Completion
14

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Page 1 of 16 - Cover Page Submission ID trn:oid:::1:2663331479

Submission Date 2,971 Words

Page 1 of 16 - Cover Page Submission ID trn:oid:::1:2663331479

How much of this submission has been generated by AI?

0% It is essential to understand the limitations of AI detection before making decisions

Frequently Asked Questions

What does the percentage mean?

How does Turnitin's indicator address false positives?

What does 'qualifying text' mean?

Page 2 of 16 - AI Writing Overview Submission ID trn:oid:::1:2663331479

Transforming Property for Short-Term Rentals: A Competitive Airbnb Proposal Report

Monitoring and Control

c) Work Breakdown Structure (WBS)

2. Summary Table for the Detailed Plan

Task(s) Estimated Cost Duration (In Critical

Interior Decoration £12,000 20 Yes

Furnishing and Setup £8,000 15 Yes

Security System Installation £4,500 10 Yes

Energy Performance Certification £600 5 Yes

Waste Clearance £800 5 No

Photography & 3D Virtual Tour £1,200 7 No

Miscellaneous Costs £1,500 - No

Total Project Budget Allocation £28,600 - -

3. Analysis of the Project

v. Contractors and Installers: The primary emphasis is on meeting deadlines while

ix. Local Community: Disruption must be kept to an absolute minimum to guarantee a

x. Guest Experience Manager: Focused on ensuring guest satisfaction. Explore amenities,

xiv. Financial Department: Concerned about budget adherence. By regularly updating

xv. Neighboring Properties: Concerned about construction impact. Communicate through

Key to successful stakeholder engagement are frequent communication, customized

b) Financial Analysis and Projected Profit

Financial evaluation indicates that "Brighton Waterfront Haven" project offers an

c) Risk Analysis and Risk Register

No. Risk Description Potential Impact Likelihood Risk Response Strategy

1 Delays in Material Project timeline Moderate Maintain buffer time for

2 Contractor Delayed task Moderate Engage contractors with proven

3 Regulatory Changes Non-compliance, Low Monitor regulatory updates,

additional costs authorities, adapt plans accordingly.

4 Budget Overrun Financial strain Moderate Regularly track expenses, review

5 Adverse Weather Construction Low Have contingency plans for outdoor

6 Interior Design Aesthetic Moderate Maintain close communication with

8 Security System Guest safety Low Regular maintenance, quality

9 Low Occupancy Reduced revenue Moderate Continuous marketing efforts,

10 Negative Guest Reputation Moderate Prioritize guest satisfaction, swift

11 Energy Performance EPC rejection, Low Thorough assessment, compliance

12 Community Local Low Regular communication with

13 Photographer/3D Listing delay, Low Schedule in advance, maintain open

Tour Delays missed bookings communication, backup options for

14 Unsatisfactory Poor listing Moderate Work closely with the photographer,

15 Lack of Guest Low bookings Moderate Continuous market research, adjust

16 Technology Glitches Operational Low Regular system testing, technical

 Project Manager (Coordinator): Responsible for overall project coordination,

 Procurement Specialist (Resource Investigator): Manages material and

 Contractor Lead (Implementer): Oversees task execution, supervises

 Security System Expert (Monitor Evaluator): Ensures proper installation and

 Photographer/Videographer (Completer Finisher): Captures high-quality

 Guest Experience Manager (Co-ordinator/Team Worker): Focuses on

 Environmental Compliance Officer (Specialist): Ensures waste disposal and

 Marketing Specialist (Shaper/Resource Investigator): Develops a captivating

iii) Any Other Convincing Recommendations: By holding frequent meetings involving

Bourne, L. (2016). Targeted Communication: The Key to Effective Stakeholder Engagement.

Procedia - Social and Behavioral Sciences, 226, 431–438. Sciencedirect.

project execution schedule performance. International Journal of Project Management,