Increasing numbers of tourists choose a short term rental management over hotels, which means greater competition for property owners and managers in the marketplace. Thus, to be successful with your short term rental investment, you need to make your property listing and service stand out.
It might feel like a daunting idea if you’re new to owning vacation rental property. But with enough knowledge, you can compete in the rental market. Consider listening to podcasts such as The Short Term Show and others like it to learn everything about rental properties from the top real estate investor.
Make sure that you’re the best in the competition, and your marketing strategy conveys your competence to prospective renters. To help you achieve that goal, consider incorporating the following strategies in your business plan.
- Set Up A Website For Your Short Term Rental
Having a dedicated website for your vacation rental real estate with direct booking options helps establish your brand identity. Some guests may choose to book directly via your website rather than through a third-party booking platform like Airbnb when you have built a good reputation.
Build your site as though you were a host, and nothing is more important than making your visitors feel comfortable. Your language on your site should appeal to the reader’s senses and make it easy to find what they need.
The finest descriptions capture the experience of staying at the vacation home. Outline all the house characteristics, local facilities, transit recommendations, and other vital facts guests should know before securing their booking.
Impression and accuracy are critical, and the more you focus on your property’s top characteristics, the more you’ll be able to distinguish your listings from the competition.
- Take Quality Pictures And Videos
When it comes to marketing your short term rental business, improving the images on your listing is the most effective thing you can do. If you want your listing images to seem their best, get a professional photographer to take them.
Professional lighting and editing can bring your property to life. Professional photography increases your property’s curb appeal on the internet to get the attention of possible renters.
Additionally, a few video clips of the property might create a more trustworthy and accurate narrative. Just be careful not to overdo it. Just get a video of the bedroom, bathroom, kitchen, and outside space for the renter to get a glimpse of your property.
- Showcase Your Vacation Home On Social Media
It’s good to have a presence on social media platforms like Facebook and Instagram. It provides a high level of exposure for your rental business. Also, it can help you create new leads.
Aside from using social networking websites for in-house advertising, you can also run targeted ads for better promotion. Maintaining a low-key approach will ensure that you don’t go over your budget, allowing you to attract more visitors.
- Become A Top-Ranked Host On Major Short Term Rental Platforms
Reviews are critical when it comes to securing bookings for holiday rentals. As it turns out, most guests do not write any reviews. Thus, you must first post a review for others to follow suit. Owners can also create review templates and send tailored comments to guests immediately following checkout.
Most customers need a little encouragement to give the great reviews you want, even if you already have excellent service and a fantastic location. Remind your customers how vital it is to have positive reviews for a business like yours. Consider sending a pleasant reminder to them at the end of their stay. You must, however, be willing to put in the time and effort before expecting extraordinary results.
Be a customer service expert by going above and beyond online and on-site communication. Include helpful local advice in the arrival brochures and check in with your guests every couple of days to see if there’s anything they need. In the long term, an effort like this will surely pay off.
- Create A Location Page
Display your property location on your website and property promotion sites. You should also include the proximity of shops, airports, and convention centers to your vacation rentals. Also include nearby food stores and restaurants in your list of resources.
Location is an important consideration when picking an accommodation, and many travelers prefer closeness to one or two specific attractions. It’s best to target visitors who need to be near a particular spot on the map.
- Use Technology To Increase Efficiency
When it comes to vacation rentals, efficiency is critical. There is no better way to be inefficient than spending hours on tedious administrative tasks that you can automate.
Modern technology is essential in investing in a vacation rental property with many routine tasks. It’s easy to organize tasks and assign duties like which cleaners will be assigned to which property with the help of automation. You can also schedule cleanings all from a single dashboard.
- Add Features Your Local Competition Doesn’t Have
Let potential renters know why they should pick you over a similarly priced property with the same standard amenities. Additional features are key, and the more distinct you can make your offerings, the more likely you are to get customers.
Increase the speed of your Wi-Fi. Guests looking for a dependable internet connection will see this as an important selling point in a listing. Everyone who has had a bad experience with Wi-Fi service in the past will prioritize it when making future reservations. Even if they have to pay more for it, most people appreciate a reliable internet connection.
In addition to the enhanced Wi-Fi, give your visitors access to premium TV passes. Since most hotels lack this amenity, you have an advantage over them. To bring your vacation rental to the next level, you can also choose to install automation devices.
One of the best methods to make money in vacation rental investment is owning and operating a vacation rental. By selecting the appropriate pricing model and marketing plan, you can develop your next investment property into a reliable source of revenue.
At this point, getting into the short term rental market should seem less intimidating. Your rental property can become a sought-after accommodation with some thought and work. Thus, start by developing a marketing strategy to maximize the potential of your short term rental property.