Vacation rental owners want their properties to remain booked. Vacancies mean a loss of revenue. To achieve the goal of full bookings, many owners incorporate in-home amenities and encourage satisfied guests to leave positive reviews. However, they need to take other steps to draw guests in. The following tips are of great help in helping any vacation rental attract attention and receive more bookings.
Highlight the Property Online
A person might think listing their property on the major vacation rental sites is enough to have people calling for reservations. Thanks to the number of homes available in many locations today, however, the property must stand out to attract attention. When marketing your vacation rentals, ensure they stand out in the crowd.
One way to ensure the property gets noticed is to have multiple pictures online. People want to see where they are staying, so detailed photos encourage bookings. In addition, the listing needs to provide detailed information about the property beyond the number of beds and baths.
Include information about the property history, how long the residence has been used as a rental, and more. People feel more comfortable spending their money when they know more about what they will get. The search engines will also see this material as unique and bump the listing up in the search engines because they know users can’t get this information elsewhere.
Include reviews from people who have stayed in the residence in the past. One way to draw more people in is to include reviews from individuals who enjoyed the property but had one or more suggestions for improvement. Share information about improvements that were made in response to this feedback. This shows the owner isn’t just in it for the money but actually cares what those who stay on the property think.
Many people choose to only rent their property during the busy season. Times have changed, however, in response to the pandemic. More people work from home today, and they can take vacations when it is convenient for them. They are no longer tied to the workplace and can carry out their job duties wherever they are. This means they are able to vacation when it is convenient for them, rather than trying to work around job and school schedules.
When asked, two-thirds of individuals say they will take a flexcation just to get a change of scenery. Thirty-three percent of individuals taking a flexcation do so because they want to spend time with family and friends, while slightly less than 20 percent say a flexcation allows them to work in a new place. Regardless of why a person wishes to get away, they want flexible accommodations that meet their needs.
Rental properties often decrease in price outside of the busy season. This allows travelers to go to more places without spending more money. They can explore new places while continuing with many aspects of daily life, and they are choosing to take advantage of this. Private vacation rentals also allow them to have more privacy when they are traveling, and they may choose to stay longer thanks to the lower prices. Vacation rental owners benefit from the increased bookings.
A person can no longer offer a rental property with only basic amenities and expect it to stay booked. People want more today when they vacation and property owners must recognize this. Many offerings on popular vacation rental sites provide guests with a private home or room. How can a vacation rental owner stand out in this crowded market?
Nothing says the vacation rental has to be a private room or home. Consider offering a yacht or a treehouse as a vacation rental. A cabin or castle will also attract lots of attention, as travelers won’t find many of these on the market. They know they need to act quickly if they wish to stay in one of these accommodations.
Hi-rises remain popular with travelers today, so a property owner must ensure the amenities offered draw people in. Weight rooms, fitness centers, and dedicated workspaces are three ways to do so.
The amenities don’t all need to be on site, either. Consider offering an airport shuttle service, catered meals, or something of that nature. If only a few vacation rentals offer an amenity and those properties remain fully booked, this shows guests want what the host is offering and other property owners should follow suit and benefit from their experiences.
Monitor Vacation Rental Pricing
Property owners must ensure their fees remain competitive with similar properties in the area. When two or more properties offer the same number of bedrooms and similar amenities, guests will take price into consideration when deciding which property to book. Over 40 percent of guests say price is a consideration when they book a property, so every property owner needs to know what a reasonable fee is for the area.
Dynamic revenue management becomes of help in deciding a fair price for a rental. Property owners must consider demand and what similar homes in the area are priced at. The problem is this information change rapidly. Property owners must monitor the market continuously to ensure the property isn’t overpriced or underpriced. However, they need to take it a step further.
Every property owner needs to look beyond the season and evaluate travel trends to learn what a fair price is for a property. For instance, local events may attract visitors looking to book a private rental. Prices often go up at times such as these, and the property owner must recognize this so they don’t miss out on revenue.
Many property owners invest in software to help them determine when to raise prices and when they need to go lower. Other owners choose to work with a property management firm to ensure they always ask for a fair price for their rentals.
Don’t overlook former guests when marketing a vacation rental. If the property is empty, offer it to a former guest at a discounted price. They may choose to have an impromptu getaway if they are offered a good deal. They know they will be staying on an amazing property and will appreciate the discount they are receiving. This is an excellent way to ensure the property remains booked, and guests offered this opportunity will be inclined to visit again in the future when they are ready for a vacation. Everyone wins in this situation.