Whether you’re longing for becoming an owner of a vacation rental – or maybe you already took the plunge but now you’re worried about making the most profit – you can make your vacation rental literally pay for itself. How can you do this? Check out these tips below.
Promote, Promote, Promote
While this may seem like an obvious tip, you would be surprised at how many people don’t understand the power of marketing – That’s okay, because if you’re one of those people who lacks marketing experience, you have time to brush up on it now or hire someone to help. Even if you list your vacation rental on a top site like CuddlyNest, you still need to get the word out to people that your place is up for rent.
Some people just want single nights – Offer It
Of course, you’ll want to charge a bit more for just a single night. Sometimes the single night option is best for some people. Also, it may seem less intimidating to them (they may think they will be saving a ton of money by staying one night.) Many landlords will cringe at the idea of offering anything less than seven days for a rental period. However, sometimes it can be highly beneficial – It can fill in any gas in your booking schedule.
Peak season is the time to be available
If possible, always be available during peak season. You can significantly increase your income by renting out your vacation home during peak times. You could even use the home yourself during off seasons and rent out just during peak seasons if you don’t want to rent out all year around.
Always keep up on maintenance
Sure, you may have to spend a bit of cash up front; however, keeping up on the maintenance will save you even more money in the long run. For example, let’s say the toilet kept overflowing or the heater kept shutting off, this will cause such an inconvenience to your tenants and you would have to refund them some of their money. By keeping up on maintenance and having your appliances, electrical, and all other necessities checked on, you can feel reassured that your tenants will not experience any issues – leaving more cash in your wallet … because that’s the goal, right?
The above tips are going to help you make the profit you deserve. CuddlyNest will also provide you with the resources and information to keep this a good investment.
