Looking to Grow Your Vacation Rental Business? 5 Strategies to Consider

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Looking to Grow Your Vacation Rental Business 5 Strategies to Consider
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You own property located in a prime vacation spot that you would like to rent, so you create a website for potential guests to learn about the property.

There’s only one problem.

No one is booking your vacation rental.

Unfortunately, the key to a successful vacation rental business is held by the amount of guests booking your rental. If guests are not reserving your vacation rental, there may be more you need to do to target audiences and grow your business.

If you are looking to grow your vacation rental business, you need to look into utilizing vacation rental software and consider implementing these helpful strategies.

1.  List the Property on Multiple Outlets

One of the best ways to grow your vacation rental business is to list your rental property on multiple websites. Have you ever searched for a rental property on one website, and then found that same property on an entirely different website? This is because the owner or property manager has listed the property on multiple websites to generate the most amount of traffic.

With so many guests who book vacations online, it is essential for your property to found on multiple websites. When a user searches for a property rental online, the search engine will produce a list of results. If your property is not listed on numerous websites, a guest can easily miss out on viewing and reserving your vacation rental property.

2. Create a User-Friendly Website

With so many guests who plan their vacation online, you need to create a website that can be easily navigated both on a computer and a mobile device. Within the website, guests should be able to do the following:

  • Check availability
  • Make a reservation
  • Submit payment
  • Look through pictures
  • Communicate with you
  • Read other guest reviews

A guest who can easily navigate your website and complete the entire vacation rental process through your website will have a positive first impression of your property before they even arrive.

An easily accessible and functional website for users can impact a guest’s decision to book a future vacation through your rental business. Returning guests are as important as new guests, and a user-friendly website will contribute to growing your vacation rental business.

3. Provide Detailed Information in the Listing

Provide Detailed Information in the Listing
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Guests who are trying to decide if your vacation rental property will accommodate their family will need all the pictures and details of the property they can get, and it is up to you to provide this information.

A guest does not want to have to email or message you to answer a question about the property when this information could have been easily provided in the listing.

Additionally, a guest may choose to book a listing with another owner or rental business because their listing includes all the information about the property.

If the vacation rental software allows you to post a maximum number of pictures on a website, you should post the maximum allotted amount. These pictures should also include a layout of the property; especially if the property is more than one level.

Guests like to envision who will be sleeping in which bedroom before they arrive at the property. Showing guests the layout, size, and design of the bedroom will allow the guests to plan their vacation accordingly.

4. Price Competitively

Guests are more likely to plan their vacation around a weekend, which makes weekends a desired time to travel. Guests who are able to take advantage of traveling during the week will search for a rental property that offers a discounted rental price during the week.

To better grow your rental business, use a dynamic pricing system in your vacation rental software that will allow the rental rate to change throughout the year. This will prove beneficial for a couple of different reasons.

First, a guest choosing to vacation during the week will take advantage of the discounted rate you offer during these off-peak times.

Second, by adjusting your rate according to the time of year, such as Memorial Day or 4th of July, you can yield the maximum dividend from guests booking at this time.

Your vacation rental software should include a reservation pricing system that communicates with the calendar, but if it does not, you can manually control the prices in your software to reflect on your website’s reservation system.

5. Social Media

Social media platforms like Facebook, Instagram, and Twitter, will allow you to reach audiences who weren’t even planning on taking a vacation. Have you ever scrolled one of these platforms and noticed an advertisement for a company or product that you were interested in?

Companies take advantage of advertising on these platforms because of the large audience the advertisement can target. The vacation rental software can manage each social media account to post advertisements, promotions, or contests. Having a strong presence on social media will allow you to grow your vacation rental business.

Use Vacation Rental Software

All of these strategies can be controlled through the use of vacation rental software. Vacation rental software will organize your calendar for you to manage reservations, payments, and communications.

After a guest has made a reservation, they will need to receive a confirmation email. Use your vacation rental software to send automatic emails to your guests at different phases of the rental process. You can automate emails for reservation confirmations, arrival directions, and departure instructions.

Use your vacation rental software to process and apply payments from your guests. This will keep your accounting records organized and your budget fully managed. If you accept a partial payment at the time the reservation is made, you can tell the accounting and calendar features to communicate with one another to send an automated reminder email to a guest with a remaining balance.

All of these features can be used through vacation rental software. Taking these features and combining them with these 5 strategies will allow you to grow your vacation rental business.