Have you always wanted to start your own vacation rental business, or are you looking to somehow increase your current vacation rental business in 2020?! Look no further. We are going to cover a few things you need to know to take your vacation rental to the next level!
The vacation rental industry is growing and changing; so should your Vacation Rental business. In 2019, the vacation rental market in the usa showed revenue of more than $17 Billion! Experts say that by 2023, revenue could grow to early $19.5 Billion.
Isn’t that AMAZING?! You better step up your game now and make sure to get the most out of your property in 2020!
Working at the short-term rental business has allowed our team to stay at rentals around the world. Along the way, we have picked up on some smart tricks from hosts that made their property memorable for all the right reasons. Today we’re sharing them with you.
Are You Treating Your Vacation Rental Business Like A Hotel?
Research has found that vacation rentals are becoming more popular to travelers than ordinary hotels. That doesn’t mean that we, as hosts can’t learn a lot from the way resorts operate.
A study by HomeAway and the University of Texas has found that travelers are 73 percent more likely to remember their trip if they feel happy and excited about it before it starts. So it’s all about offering your guests a great experience.
Start by sending them a welcome message and include a manual with recommendations for restaurants and things to do in the area. 9/10 occasions, guests staying at short-term rentals want to experience life as a local.
Who doesn’t love a nice welcome present? This is the part where you can get creative. You may want to leave your guests a local specialty like a bottle of wine, some snacks, or a little souvenir to remind them of their wonderful stay at your property.
It’s a small gesture, but it is going to make a massive difference to your guests and might even help you to get that 5-star review.
Why Should You Include A Welcome Book For Your Vacation Rental?
Ever thought about creating a Welcome Book for your visitors? Your Book will serve as a guide for your guests during their stay. It will inform the guests of the house rules and everything that’s available to them during their stay.
Does your property have a few quirks? You’re not alone. Every property does! Let your guests know where the hard-to-find light switches are, which remote is the one that actually turns on the television, and info about that 1 burner on the stove that gets way too hot. And bear in mind, while most of these things are common knowledge to you, your guests will have no idea.
They can get frustrated when searching to find the answers. Make it as easy as possible for them! Your Book is the perfect outlet for descriptions, instructions, pictures, and all the rules your guests should follow during their stay. Just make certain you keep it brief, fun, organized, and easy to read.
Do You Use Smart-Home Technology At All Of Your Properties?
Haven’t jumped onto the smart-home train yet?! Well, it is about time that you do so! Smart-home technology devices are a necessity for every vacation rental owner in 2020!
Not only are they adding more value to your property (highly appreciated by your guests), but they serve as a protection for your property, to make managing a vacation rental business so much easier.
Smart locks are a easy way to make your guests life a breeze. They are currently revolutionizing how property managers and homeowners keep their guests happy. Nobody has to worry about losing a key again! With smart locks, all our guests have to do is look at their phones and type from the provided key. It is that effortless!
Ever considered using Noise Monitoring at your property? NoiseAware’s Noise Monitoring Sensors allows you to have an insight to the well-being of your property without interfering with your guests’ privacy. If your guests wind up being too loud, NoiseAware allows you to get involved and ensure the safety of your property as well as your neighborhood.