TIPS TO INCREASE INCOME FROM YOUR VACATION RENTAL
Published on 13th June 2017, 12:54
When you have a vacation home that earns you annual income, it is important you take the right steps to maximize your earnings. While you can leave your vacation rental to a vacation rental manager to maintain and look after it, you still have to treat it like a business so that you get maximum return on investment. If you are wondering how to do it without spending too much money, here are some tips that you will find very useful.
ADVERTISE YOUR VACATION RENTAL YOURSELF
Rather than relying just on your property manager to look for guests, you too should advertise and promote your vacation rental so that you can attract holidaymakers from far and wide. Invest a little bit to develop a website to showcase the uniqueness of your property and then promote your property in well-known and reliable websites. Also, if your guests like what they experience, they too will tell their friends and post images on social media platforms. So make sure your guests have a whale of a time.
BEAT YOUR COMPETITION WITH LOWER PRICES
Vacation rentals in the same area are always competing with one another when it comes to occupancy. If you have great amenities, you could have a competitive edge. However, if your rates are too high, it may put off prospective guests. So, check out your local competition and list your vacation property a few dollar less than them. It will ensure that in the long-term this pays off for you as it will boost your revenue generation.
GIVE YOUR GUESTS WHAT THEY NEED AND WANT
Make sure your guests get amenities that make them feel at home the moment they step into your property. Create a house guide that explains everything that guests need to know in simple language. This way, they won’t have to look for things. Also, if your guests are primarily families, make sure you have child-friendly amenities. Small things like toothpaste, soaps, shampoos and conditioners go a long way in making guests feel welcomes and well-cared for.
POST PROFESSIONAL PHOTOS OF YOUR PROPERTY
First impressions are very important. Most guests will make their decision to book your vacation rental based on what they see. So, rather than taking photos with your smartphone, get a professional photographer to highlight the best features of your property. This way, when you advertise online, this is what guests will see these gorgeous images and get tempted to choose your property over your competition.
MAKE YOUR PROPERTY DESCRIPTION INTERESTING
Spend time creating a great description about your vacation rental that compels guests to book your property over others. It is okay to be creative in your description as long as you are not lying or stretching the truth.
Use these tips to win over guests and increase the income you earn from your vacation rental. You will notice an immediate improvement in the revenue generation.