How To Become A Better Vacation Rental Host This Year

Becoming better at managing your vacation rental business isn’t always a walk in the park. However, becoming better as a vacation rental host can help you to fund your ambitions; such as giving a makeover to your home, getting your children to a better college, or simply retiring with the comfort and security of a second income.

With the turn of the calendar, it’s the perfect occasion for vacation rental owners and managers to think about doing things differently starting on Jan. 1. A recent survey by Fidelity shows that simply making a plan to improve in the coming year can be an important part of your overall financial health. Vacation homeowners have other challenges as well, such as getting guest reviews on their listing, keeping their property booked throughout the year, and achieving a position where the listing sells itself rather than the owner/manager having to do it all the time.

1. Become goal-oriented

Jeff Walker writes that “Don’t underestimate the power of having an effective planning process“. It’s super important to have an effective goal-setting process in place. And, we’ve noticed that a lot of hosts who have excelled at their vacation rental business have done so by achieving incremental goals. They strived to become better hosts, kept their properties neat, clean, and impressive, and they’ve remained consistent in providing good service to guests. They’ve then used the cash earned from their vacation homes for their own vacations across some part of the world, bought a better car, or made an investment in an insurance plan that they otherwise could not have afforded.

Some sample goals for you can be:

Increasing the number of reviews on my listing
Change the interior or give a makeover to the bedroom/balcony
Increase the listing rate by improving services (include dinner/supper in the listing offer)

2. Improve the guest experience

When it comes to vacations, nothing will beat a good vacation experience. This is why you can re-evaluate the whole approach you have towards guests. Put yourself in their shoes and think of any improvement that you can make to improve the guest experience starting from the key exchange all the way up to guests’ departure. Read online reviews and comments of hosts who have excelled by providing better service. Better yet, get the basics of your vacation home right and you will see your vacation home bookings skyrocket.

3. Make connections (offline & online)

Establish relationships with other local hosts. This will help you to understand the vacation rental space even better. When you exchange notes with them, you’ll realize that a lot of issues that you face as a host are not uncommon. There must be another host who has faced a similar problem in the past and has resolved it. The value of this network will outweigh the cost (which is usually in the form of time that you’ll have to invest in building relationships).

Arrange a get-together where you host a tea party for other hosts. This will serve as an ice-breaker between you and people who face challenges/opportunities similar to you.
Make a Facebook group of local hosts and share views, opinions, resources, and advice. Remember, there’s immense power in social networks that you can tap to grow as a business person. You may start by participating in the existing Facebook groups such as Vacation Rental by Owners or Vacation Homes by Owners Only. Start a LinkedIn group where you can share ideas, build relationships, and collectively grow as a vacation rental owner (see this LinkedIn group called Vacation Rental Professionals – The Vacation Rentals Group).
Make a list of quarterly/monthly themes on which you want to interact with the hosts/services providers and association members. Put it in Google Calendar and send an invite to other hosts, service providers, and vendors. Holding such events will give you greater insights and confidence to operate in this space, and with more profitability.

The major improvement can be brought about by carefully taking smaller yet consistent steps, investing in your future by listing your property on a good vacation rental platform, and by carefully working towards your goals.

Browse. Book. Stay.

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