While everyone is updating their priorities for the new year for their health, the career, their mental happiness; it’s the perfect time to make some resolutions for your vacation rental.
These tips will help you deliver what guests want in 2017: ease of check-in, exceptional cleanliness, 24/7 availability, high-end accommodation, and ease of booking
- 1. Make sure your occupancy is up to date. An updated availability calendar can help you see your true occupancy and make sure your rental is available during peak seasons.
- 2. Enable dynamic pricing. Capture all the demand a peak season brings and maintain high occupancy in the slow season by competing directly with hotels.
- 3. Update your property photos. Are you showing your home in the best light? Make sure you are showcasing improvements you’ve made over the past year. For instance, if the lake levels have changed, capture the improved view. If you captured a great snowy shot of your property, add it to your listing. For more tips about making your property photo-ready, check out our 5 Must-Do’s Before Photographing Your Home.
- 4. Market your property on multiple listings. List your property across additional channels. You want your vacation rental to be seen by as many travelers as possible.
- 5. Upgrade your internet. According to Phocuswright’s 2016 study, guests value free, fast internet. It is a major advantage vacation rentals can have over hotels. Make sure you protect your internet connection with the latest security precautions. With more companies giving employees the freedom to work remotely, guests may plan to work during their stay. Imagine how your guest’s experience might change if they planned on having internet access and were either limited by data or couldn’t connect to your service at all. A lack of internet connection can have a major impact on guest satisfaction.
- 6. Take online bookings. Your property should be fully bookable online to capture the most number of guests. 77% of all vacation rental travel is fully booked online.
- 7. Remove 7-night minimums. More and more guests are opting to stay in a vacation rental for shorter periods of time. These stays more closely resemble hotel stays. In order to capture the demand, do not require a 7-night minimum.
- 8. Upgrade your vacation rental. Take a Spring cleaning look at your rental. Guests come to relax and recharge on vacation. Clean out some of the clutter. Organize storage shelves, and replace books or items that have seen a lot of use over the months. New throw pillows or comforter on the bed can completely update a space. Once you’ve finished be sure to schedule a deep clean for the property. This should be done at least 2-4 times/year depending on the amount of use your rental receives. Rentals that are only used seasonally should schedule one at the end and also the beginning of the season to keep dust at bay and your home smelling fresh.
- 9. Plan out your budget. Did you know the industry standard is to withhold roughly 4% of your annual gross income to cover regular maintenance and replacement of normal wear and tear items to your rental? Tax season is a perfect time to calculate your yearly gross income. Getting a tax refund? Put some funds aside so you’ll be prepared when it comes time to replace those closet doors or redo the stepping stone walkway leading out to your yard.
- 10. Choose your vendors. Lawn care service or a snow removal company, a go-to handyman to replace lights or unclog a toilet, good housekeeping vendors who are readily available to service your home in between guests … these are all important supporting characters who will help make the New Year a success. If you don’t have regular pest control in place, secure service before the critters move in on your home. By proactively setting up regular maintenance now you can save yourself a significant amount of money and time down the road!