Let’s say you own a gorgeous property in a spot popular with vacationers. You should be a shoo-in to earn big bucks from vacation rentals – right?
Maybe.
Even if your property sits in a prime location in Las Vegas, Miami Beach, or Fort Lauderdale, it’s not enough to simply post your vacation rental on Airbnb and expect the money to keep rolling in.
To succeed, you need to optimize a full set of factors, starting with the fact that your property profile should appear on 50+ sites (yes, there’s more to vacation rentals than Airbnb). In every listing, your property profile should be complete and compel the right viewers to book a stay. On that note, listings should be well-written, with professional-grade photography.
So that’s THE big secret?
Actually, there’s considerably more. Your property also needs to be consistently stocked and cleaned like clockwork after each stay. If that doesn’t happen, reviews – and occupancy rates – will be lower. And to ensure higher revenue, you should use what’s called “dynamic pricing,” with fees to your renters optimized on a daily basis.
“Touchpoints” before, during, and after each stay are critical for success. Inquiries from potential guests need to be answered promptly and thoroughly. When a guest requires assistance during a stay, someone in a position to help must be readily available. And because so much depends on ratings, after each stay, a review should be solicited, to help maintain your edge over comparable properties.
Your property needs to be carefully inspected after each stay, to identify wear and tear, including items in need of repair. When repairs are required, they should be done promptly, before they compromise the experience for a guest and yield a less-than-stellar review on Airbnb or elsewhere.
On top of all that, local policies and special events can (and do) at times create challenges and opportunities. Vacation rental property management isn’t first-rate unless those aspects are adequately addressed as well.
Okay – that about does it. We know it’s a lot. Now here’s the good news: You don’t have to go it alone. The best full-service vacation rental property management company for you will handle those tricky details, so you sit back and collect a check each month.
Schedule a complimentary consultation on potentially relying on One Fine BnB to sweat the details and enable you to make the most of your vacation rental opportunity … every single day.
