If you are going to spend money advertising your vacation rental property on vacation rental websites or hiring Real Estate assistants, you want to make sure it is a success. Here are 6 things you can practice which will help ensure you receive the most “bang for the buck”.
- SET RENTAL RATES APPROPRIATELY – If you want your vacation property to rent, you must be realistic, optimistic, but not greedy! Set realistic rental rates for your property and ensure that the rates are correct on the site(s) your listing and regularly reviewed as the market changes. Search for comparable properties (“comps”) in the same location as yours. Only charge a premium if your property has some distinct features. And, be willing to discount your property on occasion as needed. In this business, if you lose money for a week-long rental, you can’t make that up!
- CHECK E-MAIL REGULARLY – When using an internet vacation rental property website such as http://Rentals2Remember.com or http://eVaca.com, remember your users. They are typically Internet “savvy” and probably check their e-mails frequently…especially if they have requested some info. Also, be sure your phone number is listed on sites that allow you to as sometimes people choose to just call you directly, so be sure to check phone messages.
- RESPOND IMMEDIATELY – Vacation goers usually see a few properties that are of interest to them and then contact those owners. The faster you respond, the better the chance (most of the time) you have of winning them over. There have been times I have rented properties in the past and because it took an owner 24 hours to respond, I had already chosen another property. A timely and efficient response gives the renter confidence that the rental experience will follow suit.
- YOUR LISTING SHOULD BE ACCURATE AND COMPLETE – Be sure that your listing details are kept up to date and are complete. Review your online listing frequently to be sure that your contact information is up-to-date. Also, be sure that it is accurate on the description of your property and its amenities. This will help you with repeat customers, but will also keep you out of trouble with rental contracts or laws in regard to such things.
- GREAT PHOTOS – It is true what they say, “a picture speaks a thousand words”. Remember, renters, are considering staying at your rental based (most of the time) solely on your pictures and your word. The more pictures to help them be comfortable with the decision, the better. Here is how I look at it. If you were going to buy a used car, would you do so over the Internet without a good look at the outside/inside of the vehicle, the engine, etc? Not exactly the same, but you get the picture. The more pictures and the prettier, the better. Be sure to have pictures of your rental amenities such as a pool, the beach, a mountain view, the lake or a golf course – these are top vacation rental sellers!
- BOOST YOUR EXPOSURE – There are many “hot spots” for vacationers throughout the world. Before we owned property, my family used to head to Destin every year, usually twice. There are thousands of vacation rental properties in the Destin, Panama City Beach area. In areas like this, boost your exposure by getting to the top of your site’s search engine. If it costs you $20, $50, even $100 to do so but that gets you one extra rental a year, that makes it more than worth it.