With the 2018 summer vacation rental season just recently behind us, it may feel like 2019’s rental season is far ahead of us. In reality, now’s the time beach vacation rental homeowners should be thinking about how they plan to manage their oceanfront vacation rental come next summer.
Planning ahead while your recent busy season is still on your mind will help you make smart choices for your rental home. If you don’t currently own a beach vacation rental, but you’d like to buy one and have it up and running before summer… now is also the perfect time to purchase a beach home. Learn more about how to purchase a beach vacation rental here.
Here are 5 things all current beach vacation rental owners should do to make next summer’s rental season is smooth sailing.
Take stock of your home
It’s always a smart idea to stock up on items like toilet paper, paper towels, and toiletries in bulk (if you have the space to store them). This is also a good time to check in on how your linens stash is looking. From time to time, towels may get packed in suitcases as guests leave or sheets might become a bit threadbare from repeated washes. Make sure you have what you’ll need for your guests.
Evaluate your vendors
As a vacation rental homeowner, having reliable vendors for housekeeping, maintenance, and lawn care are crucial to building a thriving vacation rental business. You need to be able to trust your vendors, and this is even more crucial if you are managing your vacation rental remotely. Was there something you noticed over the summer that wasn’t taken care of correctly? Utilize the slower season to vet and hire new vendors who can familiarize themselves with your home before things get busy.
While your rental home was cleaned and maintained throughout busy season, there may have been a few repair projects that you put off due to back-to-back bookings and the repairs not being urgent. Things like that loose decorative portion of your stair railing, the missing ring on your living room curtain setup, or the chip in your granite countertop.
Make a list of all home maintenance that needs to be done and schedule vendors to handle it over the course of the next few months. Doing this now will not only make sure your home is completely ready for any shoulder season bookings, but will give you less work to do as you’re down to the wire preparing for summer guests.
Read your guests’ reviews
Whether a review is positive or negative, you can learn a lot about your vacation rental home from your guests’ feedback. You may not have had a chance to go through all of your guests’ reviews on your property from the summer yet, but now’s a great time to look back through them and see if there’s anything that stands out.
For example– if multiple guests mention that having to meet you to pick up a key was frustrating, you might want to consider installing a keyless lock. Or if several guests complained that the mattress in the master bedroom was uncomfortable to the point they went and slept on the couch, it might be time to replace your mattress. On the other side of the coin, take note of what your guests are praising and make sure you do them again next summer.
Revisit your rates
Most vacation rental homeowners rent out their home with the goal of maximizing revenue. While the thought of crunching numbers may sound unappealing, it’s important to look back at how much revenue your rental was generating and how high occupancy was over the summer months.
Are there large gaps in your calendar, or were you consistently booked?
Did you use the rental a lot for your own vacations?
Do you have a minimum night stay?
Is your home priced comparably to other rentals in your area?
Looking at your revenue, occupancy rate, and amount of personal use can help you decide how you’d like to approach pricing your rental next summer. Now’s also a great time to look at other beach rentals in your area and see what their summer rates are starting to look like.
Did you find managing your beach rental overwhelming? Learn how TurnKey can give you peace of mind, help you earn more revenue, and take better care of your home here.