Ridhwaan Basa is one of 12 nominees in the Investor of the Year awards by SAPIN.
By Shahied Joseph
A Camps Bay property manager is one of 12 finalists in the SA Property Investors Network (SAPIN) Investor of the Year Awards to be held at the Melrose Arch Marriot hotel in Johannesburg on November 18.
Ridhwaan Basa, who lives in Parow, is listed as an Innovative investor nominee for his Airbnb management model that started in October 2020. He manages a Camps Bay property using automated technology that works without his presence.
“A client can book the accommodation via Airbnb and I developed a system that guides the client to their apartment without me having to meet with them,” said the 27-year-old entrepreneur.
Mr Basa was hospitalised with Covid-19 pneumonia for a month earlier this year and despite his incapacity during that time the business progressed.
“This system directs the client to the location of the lockbox and the apartment, there’s a video that shows them exactly how to manage this self check-in, where to park, the wi-fi password, everything. The cleaner and maintenance staff are notified of the departure and arrival of a client via this system, so the place is always ready,” he said.
The other innovative strategy that Mr Basa uses is renting the place from the landlord and then subletting it via Airbnb.
“During lockdown landlords struggled to rent out their places and this is where I came in. I rented the place for six months and got permission from the owner to sublet it via Airbnb and with the automated system I put in place. They get their guaranteed rental and I have to do extra work to get mine. It’s a win-win situation for everyone,” the UCT business science graduate said.
From one apartment Mr Basa is now managing three in Camps Bay using the innovation he put in place.
“I secured the rental for the apartment via an investor and the investor got a 20% return after six months. So again it’s a win-win for everyone using this rent-to-rent innovation. My property coach has guided me along the way and I’m looking at getting involved in property development too.”
He says joining SAPIN during the lockdown exposed him to the market he is in.
“I’m a tutor and the business took a knock during the pandemic. I had to find another avenue of revenue and I did through SAPIN who introduced me to the Airbnb model. I can now use this platform to inform others about this opportunity and to inspire people. I’m excited about the awards as I’m going to meet like-minded people and get to hear more about innovative ideas.
There are six judges that will vote for the winner and the public too can cast their vote at https://investoroftheyear.co.za/voting/