One issue facing vacation rental property owners is successfully marketing their properties. Vacant properties don’t generate income, so owners explore different marketing strategies to ensure their properties are rented as often as possible. There are a few things all property owners can do to increase the odds their rentals are full throughout the year.
Market to the Right Audience
When considering where to advertise, take the time to evaluate where your primary market is most likely to look for a vacation property rental. An effective vacation rental marketing strategy will use booking sites that attract visitors who want rental properties like yours. In other words, advertising a mountain property that’s near ski resorts on a channel that focuses on waterfront properties is unlikely to attract renters.
Create Attractive Listings
Each rental listing site may attract a different audience. That means tailoring a listing to the anticipated audience will pay. If a specific site attracts younger visitors, focus on advantages that appeal to that age group. Conversely, if a site’s audience is older, discover what qualities attract that audience and capitalize on those needs. Marketing the property to multiple audiences boosts occupancy rates. Quality photos and videos that showcase a property are always a must. This is one time when paying for professional assistance is well worth the investment.
Price the Property Competitively
While underpricing a rental is rarely a good idea, setting rental prices too high won’t work either. Most property owners work with professionals to determine a viable pricing structure. Of course, carefully researching the market yourself is also a good idea, as doing so increases an owner’s knowledge of the local market. Take the time to see what your competitors offer and match or beat their prices.
Don’t Ignore Security Issues
Always consider the safety of guests. Security systems are essential, so work with a provider that offers systems owners can reset remotely. Every guest should have a unique code they can use to enter the property. A quality security system also allows owners to manage heating and cooling needs from anywhere to keep operating costs as low as possible. Adequate fire, smoke, and carbon monoxide detectors are a must. Renters who feel secure are more likely to rent again in the future and refer friends.
Deliver Those Extra Touches
One thing that sets popular rentals apart from competitors is a few extra bonuses for guests. For example, a quality espresso maker and fresh coffee beans make renters feel special. Of course, there are other “extras” to consider, depending on the type of property and the local market. For example, arranging discounts at local restaurants or attractions makes renters feel you value their business. Create a marketing plan designed to enhance the rental experience for typical clients.
Communicate With Renters
Provide a contact method that is continuously monitored. When a problem or questions arise, renters need a way to contact someone who can help. Always respond when a potential renter needs information, and develop a follow-up strategy to stay in touch with past renters. Make the contact more than a simple marketing opportunity. Again, the strategy will depend on the market and the property owner’s objectives.
Get Started Now
Rather than tackling marketing chores alone, consider working with experts who understand vacation rental marketing and work with property owners every day. When a solid marketing plan is in place, vacancy rates are generally reduced and profits increase.
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