You consider yourself to be the friendly type. You like to make sure people are welcome in your space.
And you’ve been looking to do something different for a change. All of these things might just mean that you’re either about to be or you’ve already begun the process of being a vacation rental owner. With that in mind, you’re probably already aware that being a vacation rental owner isn’t a simple stroll in the park. The industry is a booming one, with many entities new and old expanding its like Airbnb for example. It takes quite a bit to be one of the multitude who are successful at being vacation rental owners. Here are five tried and true tips that will ensure that you’ll be on that path with ease.
Establish Your Goals From The Beginning
Sure, you want to be someone who can claim steady success as a vacation rental owner. That process begins once you detail some clear-cut goals as to what that success means to you. It’s not as daunting as it seems on first glance; it can be something as simple as creating a short list of what you want to achieve with your rental property. Many successful vacation rental owners begin with goals such as aiming for a small amount of renters per month. Another average goal to begin with can be to make it a point to check comments and reviews left by guests on rental properties within your area every couple of weeks and aiming to have a larger percentage of positive reviews. Setting up a simple list of goals to achieve from the outset can help you build up the consistency that you will need to make things work in the long run with your own vacation rental property.
Remember, You’re Running A Business
A common slip-up vacation rental owners can come across is that while they’re getting into the industry because of the potential profit to be had, they’re not committing to good practices that any small business would need to thrive. Being a vacation rental owner means you’re making this a business and not a hobby. This basically means that you have to be very proactive. Study market trends in the industry and see what fits and what doesn’t when it comes to your property. Research the listings of other vacation rental owners not only in your area but outside of it to see what advantages and disadvantages they have. Create a comfortable social media outreach strategy, with your platform of choice being a springboard. Monitor other advertising you might engage in for your listing. Be conscious of the images you’re choosing for your listing and vet them to get the best ones that you need. If you’re finding yourself stretched too thin, don’t be afraid to enlist professional help where it’s needed.
Keep Your Customers’ Needs First And Foremost When Setting Up
Deciding to be a great vacation rental owner means that you have to do whatever you can to keep customers looking at and booking your rental property – and hopefully doing so again. It’s a process that involves a series of steps. Develop the mentality that your renters aren’t just customers, but valued guests that you’re opening your doors to like anyone else you care for. That mindset will guide you in immense ways. Next, give your property a once-over. Take note of what modifications you would need to make, starting with small revisions and ending with bigger projects. Craft a timetable for those revisions, which shouldn’t keep you from making your rental available to guests provided that you’re giving notice on your listing. Think about the little extras that you would appreciate, and it’s a cinch that your guests would love them as well. These can cover things like extra bathroom essentials like lotions and towels, or even maps and guides that they can take with them when heading out. Even something as simple as providing the fixings for morning coffee or tea goes a long way. Another thing that works for other owners is making their rental property accessible for all if they’re able to. This goes for guests traveling with children as well as those who happen to be disabled. Also, think about using a third-party
cleaning service to maintain the pristine quality of your property if your own schedule doesn’t allow you to do it. There’s a few companies that you can enlist in that regard.
Communication Is Key
The most vital thing a vacation rental owner can pay attention to is the feedback they get from guests.
Most if not all vacation rental sites make receiving and answering feedback a vital point of service. Getting ahead of the game by making yourself available to guests as much as possible is what will make your rental property stand out in a significant manner from others’. Make this distinction in your listing description in plain terms so guests have an idea when and how they can contact you if they have questions before and even during their booking. This is especially important to have this line of communication open during their stay and afterwards when they leave feedback. Standout vacation rental owners will reach out to guests who’ve stayed in their property and ask for feedback in a short email afterwards. When you do communicate, make sure to be as personable and professional as possible. That will add to the appeal of your listing and make guests really comfortable booking with you.
Never Stop Learning
If you follow along with the previous points, you’ll see some success. But to maintain it, you have to
own a perspective that you’ll never stop learning. The vacation rental industry is rapidly changing, and those who have made great strides within it point to having an attitude of wanting to learn more. They also highlight being willing to share from their expertise. Implementing these qualities into your own strategy as a vacation rental owner will help you gain longevity. If you want to check out the top destination guides and accommodation reviews, check out Trip101.