As the short-term rental market continues to expand exponentially, so too has the level of competition between short-term rental owners to make their properties stand out from the crowd. If you are a rental property owner looking to give your home an edge over the competition, you may already have a wide range of marketing tactics at your disposal, but ultimately, making your rental property as appealing as possible is the best way to ensure that your marketing strategies are effective.
As the number of people investing in vacation rental properties grows, the competition intensifies. In order to make short-term rentals profitable, owners must continuously improve their services, amenities, and guest experiences.
Here are the top tips we've compiled to help you improve!
If you want your property to stand out from the crowd, you should invest time and energy into enhancing the curb appeal of your property. Why? Because there are thousands of properties listed on websites such as Airbnb, Booking.com, and Expedia, prospective travelers are scrolling through them all, hoping to find something interesting.
The great thing about these exterior home improvements is that they do not necessarily cost a fortune. If you are looking for a way to stand out among your competition, there are a number of simple improvements that you can make to your home. Here are a few suggestions:
In order for potential guests to truly experience your rental, you should communicate its feel to them once you have set it up. The best way to convey the feeling of the home is through standout photos. It is important to photograph each room in bright light so that the spaces appear as inviting as possible.
Here are a few tips :
Once potential guests have explored your property's photos, they'll move on to read the description. Your portrayal of your property must provide your guests with descriptions that emphasize what makes it unique and what you have to offer, and refer to the photos you've provided. There must be a seamless blend between your photos and descriptions.
It may be helpful to read descriptions of other listings in your area to get a sense of what guests are looking for, but your focus should entirely be on highlighting the unique characteristics of your home and marketing it to your end consumer.
The high proportion of people working remotely means that some guests will likely look at your property as a potential place to conduct their work while on vacation. Better known as digital nomads - accommodating these guests with a quality workspace can help you stand out from the crowd. It will be more appealing to your guests if your rental caters to their needs when it comes to the quality workspace.
Here are a few tips :
Check out this guide to marketing your rental to digital nomads.
It may not seem easy to scale your vacation rental business amid intense competition, but it doesn’t have to be hard! Globally, technology is changing travelers' expectations and experiences. Effective vacation rental property management is key to standing out. As technology hacks break down barriers within the industry, advancing into guest automation is a must-do!
Automation is the process of reducing costs and increasing efficiency by automating daily and recurring tasks such as - guest messaging, booking calendar updates, coordinating with the cleaning crew, analyzing and adjusting nightly prices, guest reviews, etc.
With automation services, you could provide your guests with unparalleled service, plus you can focus on other areas of your business. Here are some of the benefits :
Check out our tips for a full list of automation tips
Guests are always drawn to properties that are equipped with generous amenities. Guests often filter through the amenities to determine if the property offers what they are looking for. When guests are paying for a rental, basic amenities won't suffice! With the right amenities, you can keep your occupancy rate high, keep your nightly rates buzzing, and get a great return on your investment!
Here are a few must-haves to add to your list,
Here is a complete list of the best ROI amenities for your business
Paying guests expect everything to be in fine working order. Be sure your appliances are working and are fully functional to make your property stand out. In addition, this makes for an enjoyable stay and may give you an edge over your competition.
If you haven't replaced your appliances in a while, it may be time to do so or at least have them serviced or checked out by a professional to ensure they are fully functional. Don't risk a poor guest review by having one of your appliances malfunction!
Guests are looking to relax, so any luxury you can provide them will do wonders for giving your property an edge over the competition. Bathrooms and bedrooms are two areas of the home where luxury can be delivered and furnishing your property with the right accessories will gain the attention of your target audience.
Some tips for getting started:
Pro Tip: You can get some great pointers on Pinterest or you can opt to hire an interior designer (depending on your budget allowance of course!)
Your rental's safety is one of the most overlooked and understated areas. When a guest stays at your property, it is one of their top concerns. These upgrades can easily be added to your property. By including these in your listing, you can assure your guests that your property is safe and secure.
It is imperative that vacation rentals meet a high level of excellence and safety. You can improve your vacation rental’s conversion rate by creating a smooth flow throughout the booking process and delivering an absolutely stand out guest experience. Adapting to smart technology will benefit you greatly - it will enhance guests' experiences, resulting in better reviews, which will help you increase occupancy rates in the long run.
New digital technologies have been developed to meet the needs of an increasingly well-informed, digitized customer. In the vacation rental industry, technological advancements have evolved exponentially over the years, facilitating property management tasks.
Here are some areas you can incorporate into your vacation rental,
Learn how to make vacation rentals more efficient with these smart technology hacks.
Staying current and ahead of the curve is the key to success in any form of business. There is one thing we have discussed today that is common to all these tips, and that is that vacation rental homes are a business that aims to make guests happy. Making guests' stay memorable and exceeding their expectations can certainly contribute to vacation rental success. Remember, Great Service + Great Reviews = High Occupancy!
By implementing automated systems, upgrading amenities, and keeping your property spotless, you can increase the chances of travelers leaving glowing five-star reviews. A professional approach and attention to detail can make all the difference in flipping the virtual vacancy light on or off. If you're just starting out or a seasoned host, these tips will ensure you launch a successful short-term rental business. In addition to enhancing your guest experiences, these proven best practices will help you grow your business.
Hostaway partners with many hosts on OTAs such as Airbnb, VRBO, and Booking.com so they can reach their full potential. The Property Management System (PMS) we offer simplifies the process of growing your business by automating and streamlining every aspect of it. With solutions for all your needs, we can quickly evaluate if we are the right solution for you and provide you with a quote.
To learn how Hostaway can fit your vacation rental business and maximize your growth potential, schedule a demo call at your preferred time with one of our product experts.