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Case Studies

Owner - Michele Croise
Background
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Michele and Fabrice Croise had always wanted to live in a ski resort, so when Fabrice got a job in Geneva it presented the perfect opportunity for them to fulfill their dream.

They started to search for a house that was easily commutable to Geneva and so focused on the renowned resorts of La Clusaz and Le Grand Bornand, just one hour away. With three children and a selection of pets they needed a property that offered plenty of space both inside and out.

They finally found a 1970s chalet that offered the perfect location – close to the village of Le Grand Bornand, with fantastic views of the Aravis and within walking distance of the local school for the children.

Michele and Fabrice set about renovating the chalet to create a stylish family home where they lived for six years, until they took the decision to move back to the USA.

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"The setting of the chalet is perfect and we renovated it to suit our lifestyle. When we returned to the USA we decided to rent out the chalet to generate some additional income and cover the mortgage costs, so needed to be sure the chalet would perform to its full potential,"

- Michele Croise.

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Challenges
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Moving back to the USA meant that Michele and Fabrice were a long way from their property investment in France, and this presented a number of challenges -

Marketing & Booking

The level of involvement needed to promote the property and manage its bookings was a prime consideration for Michele and Fabrice. With an eight-hour time difference with Europe, it would be difficult for them to respond to enquiries immediately and they would be more removed from the key European market place.

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Co-ordination was Key

Living so far from their property would make it difficult to easily resolve any problems. They therefore needed to be sure that the booking and management solution, together with their property managers could all work together to ensure that everything ran smoothly.

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Selling the Property

Ultimately Michele and Fabrice had decided to sell the chalet, and it was therefore important that high occupancy and income was generated to prove its investment potential to future purchasers. In the interim it was also important for the property rental to cover mortgage costs and generate a strong return.

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A Different Approach from OVO Network
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While Michele lived in Le Grand Bornand she met a number of people who had worked with OVO and recommended their professional, personal approach to marketing, booking and management.

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"OVO came very highly recommended. I met people whose property rentals were transformed by the OVO approach, and so it was logical for me to give them a try. That’s one of the best things I’ve done in the property market and I wouldn’t hesitate to recommend OVO again and again,"

- Michele Croise.

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Seeing the Benefits...
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Since joining the OVO Network, Michele and Fabrice have seen a range of benefits -

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Minimal Involvement

The seamless, co-ordinated OVO marketing, booking and management solution means that Michele and Fabrice have been able to sit back and let OVO do what it does best – generate them income from their property. There has been no need for them to get involved in any of the day-to-day aspects of running a rental business, and their property managers liaise directly with OVO.

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Strong Rental Returns

The rental performance of the chalet has far exceeded Michele and Fabrice’s initial expectations. The marketing expertise of OVO, together with the easy online booking through the chalet’s dedicated website has ensured site visitors convert well into secured bookings.

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Support the Property Sale

The proven rental income generated by the chalet, together with the high quality website and existing relationship with OVO have helped generate significant interest in the chalet. Potential buyers from the UK, France and Switzerland are currently interested in investing in the property and Michele and Fabrice hope to have a sale secured in the near future.

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"OVO has made renting out our property easy – from start to finish. Initially we were concerned about the ability to run a rental business from so far away, but it has been far easier and more effective than we ever thought possible. The team at OVO is fantastic – their expertise is clear, simply through the results they have achieved for us,"

- Michele Croise.

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Enjoying the Results
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Michele and Fabrice’s chalet has seen strong rentals since they moved back to the USA over one year ago. The property has rented well in both winter and summer, achieving over 100,000€ in rental income to date. In addition, Michele and Fabrice chose to spend six weeks of the year at the chalet themselves, which would have generated a further 22,000€.

With the property currently on the capital market, the high level of rental income is helping attract a range of potential buyers at a premium price, which will allow Michele and Fabrice to pursue new projects in the USA.

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"We are extremely happy with the results OVO Network achieved for us. The dedicated website and co-ordinated approach of their booking and management solution has meant owning and generating income from a rental property has been easy - and we are definitely enjoying the results,"

- Michele Croise.

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