Why You Should Set Up A Vacation Rental On Your Own

If you are new to the vacation rental market, it might be easier for you to just post your home on platforms such as Airbnb. While this makes it convenient, there are also downsides in doing so.

Added Fees

Since you will be doing everything on your own, you can avoid all of the fees associated with using another platform. Airbnb charges up to 20% service fee to their guests and another 3-5% to the hosts. Similar platforms have the same method of getting fees. HomeAway charges 6-12% to the guests and 8% to the hosts. TripAdvisor charges 8-16% to the guests and 3% to the hosts.

There are other platforms such as Booking.com and Expedia where they do not charge the guests but still charge the hosts from 10% to 25%. By setting up and managing your own property, you can avoid this cost and use it for other things that are more important.

High Competition

As of writing, there are 6.1 million listings in over 191 countries on Airbnb. This is a lot, especially if you are living in a place where there are already a lot of Airbnb hosts who are using the platform for their own real estate.

For a newcomer in the industry, it can be hard to compete with owners who already have a lot of clients and good reviews before. Of course, there is no harm in trying but you have to acknowledge that it can be difficult especially in the beginning.

How To Set Up A Vacation Rental By Owner

There are a lot of things to do, especially if this is your first time renting your place. But all of the efforts are all worth it once you get the steady flow on income from your vacation rental.

Step 1: Analyze the market

While a lot of people advertise real estate as a get-rich-quick scheme, there is a lot of analysis and math behind a successful vacation rental. The location and the season are the two primary factors in making sure that you will generate income in your vacation rental.

Location

Is your property near a tourist spot or resort? If there are a lot of tourists going in and out of the place where your property is located, it is highly ideal for you to rent it for vacation tourists.

If it is not near a tourist spot but still within the city, there are still people who may rent your property for a short period of time. This includes businessmen traveling for business or guests to a wedding or reunion.

Seasonality

Now that you know what kind of people will likely rent your property, you have to analyze what months it will likely be fully-booked. You should also make sure that you have a marketing strategy for when there are not enough visitors on the slower months.

For places near the beach, of course, the summer season is the best season for your vacation rental. There are many tourists who visit other cities just to enjoy a day or two at the beach. You can also watch out for summer festivals or other events that usually happen in resorts. With a little marketing and the influx of tourists ready to be tanned, your vacation rental can generate a huge income. Of course, you should also consider spring break. A lot of university and college students are celebrating their time during the break and most of them hit the beaches for a fun and wild party.

Winter is a season where you can see a lot of families going out of town for their Christmas vacations. Sometimes, people from the North will travel South to escape the freezing cold and spend their holidays in comfort. But there are other people who want to make the most out of the winter season and go to mountains or places where there is a lot of snow to do fun activities such as skiing or just spending time with their loved ones in front of the hearth.

Demand And Supply

Research how many people are gonna visit the place, and how many available vacation rentals or hotels nearby. You don't want to invest in a property located in a city where there are a lot of tourists and yet a lot of available places to stay.

Step 2: Create a real estate business plan

Set realistic goals for your vacation rental and plan around your goals. This is different for every owner as it depends on other factors such as other sources of income, availability, and current budget.

Deadlines

While it may sound easy to set up a vacation rental, there are minor hiccups that can hinder you from being successful. A thorough and good business plan has steps to avoid or address these issues. You should also set achievable deadlines for your business. For example, getting the rental property ready for business requires a lot of time, money, and work. You can't start right away. You also have to schedule fixing the papers for the license of the place.

Budget

The most important thing to put in your business plan is the budget. How much do you have right now that you're willing to spend on the property? How much do you expect to return? For slower months, you have to save enough for the upkeep of the property. This can be done by keeping a portion of your income on days when the place is fully booked.

Personnel

Are you gonna hire an in-house employee to make sure that the place is well-kept or are you gonna outsource from a company? This is a decision you have to make to ensure that there is enough budget to go around for other things. You can also upkeep the property yourself if you want to be hands-on with your business. There are certain pros and cons for both, but in the end, the decision is yours.

Step 3: Legalize your business

Make sure that your business is in a location where you can legally license your real estate business. There are certain places in the world where short term rentals are prohibited.

In Miami, for example, short term rentals below 6 months are prohibited by the law with a fine of $20.000 (USD) for the first offense and up to $100,000 (USD) for the fifth. Other places have restrictions such as in Los Angeles, where it is only legal to rent your home if it is your primary house that you stayed in for 6 months that year. There are other places with similar restrictions against vacation rentals in places like New York and Las Vegas, just to name a few.

There are places, on the other hand, where it is legal to rent your property but they have limitations in how many short term rentals there are in the city. For example, Honolulu in Hawaii only allows 1,715 short term rentals to exist. It differs in every city so you have to make sure that your business is legal or you might face a huge fine.

If your property is in a place where it is legal to rent your real estate for a short term, then you have to get a business license and other requirements from the local government. You should also make sure that you declare your property in your taxes and pay for them according to the laws.

Step 4: Ready your vacation rental for visitors

Now that you're all set, it's time to make sure that your property is lovely enough to attract a lot of people going on vacation. You can inspect the house or have a professional inspector to thoroughly check the property. Any damage or improvements needed should be addressed before you start renting.

Make sure that you buy furniture that is sturdy enough so that you don't have to replace them often. You should also have enough stock of toiletries and clean bedsheets and towels for every guest.

Step 5: Start advertising

You can always post on platforms such as Airbnb but if you want to avoid their fees that can cost you up to 20% of each booking, then you can do the advertising yourself.

It might be a little hard at first since nobody knows about your vacation rental yet but don't worry, there are easy steps in getting your first customers!

Shoot the perfect photo

Make sure that you have enough pictures to give an idea to your potential customers about your place. From the exterior of the house to every room, you should have a photo in every angle ready.

Use a wide-angle camera to make sure that the house will not look smaller than it is. 35mm is one of the best lenses that you can use to shoot photos that will look realistic. However, other homeowners and marketers opt for 24mm or 28mm lenses to make the rooms look wider. Of course, you can use a standard lens for the exterior so that it will not look distorted.

Make sure that the house has enough furniture so that it will not look empty. You should also try opening all the windows to let the light in to create the perfect photo for your advertisements.

Create a website or a Facebook page

Since you want to avoid the extra expenses in platforms such as Airbnb, you should build your own online presence. If you have enough budget or you have other vacation home rentals, you should definitely create a website with all the information a customer needs. However, a Facebook page can suffice especially for smaller homes. You can post testimonials of your past guests to convince potential customers to book you instead of other vacation rentals near you.

Step 6: Maintain your vacation rental

Damages are inevitable especially if your vacation rental has become so successful that it is always fully booked. Of course, you can run a maintenance check every time a tenant checks out so that you can give them a fine them for any damages.

But sometimes, the damage is caused by natural causes. At the beginning of the spring, it's time to let your gardens bloom again. Rake the remaining leaves of winter and start reseeding your lawn. You should also check the exterior if there is any water damage caused by the snow or other strong weather.

Things you should do annually:

• Clean the gutters
• Inspect the roof for damages
• Check all the walls for crack
• Deep-clean windows
• Inspect the chimney for any signs of wear
• Check smoke alarm and carbon dioxide detectors

Things you should do once or twice a decade:

• Repaint the exterior and interior of the house
• Give the whole house a bath
• Replace damaged parts of the house

If you are too busy to do all of these, you can always hire a company to clean your house. You can also pass the responsibility to your caretaker if you hired one.

Start Your Vacation Rental Now!

If you have followed all the guidelines and steps, you are now on the path to being a successful owner of a vacation rental. After following the guidelines, the only thing you will do is manage, market, and maintain your vacation rental. You can now relax as you see your net worth increase, especially during peak seasons.

Continue marketing and upgrading your home whenever you see fit to maximize your income. You can also start setting up another vacation rental in another city or expand your current property when you have enough budget.

A lot of people say that renting out a vacation home is easy but it's not true. There are a lot of things you have to do just to ensure a steady stream of income. But you have to remember that the first step is always the hardest. With our guidelines, you will be able to generate a passive income from nothing but resetting up a vacation rental!

You may notice that your vacation rental is underperforming compared to others in the neighborhood or locale. Why is that? The other homes are located in the same neighborhood and may even have a similar layout as the one you have been trying to rent out. Turns out, fewer rental inquiries may not be attributed to a lower quality rental, but a less effective marketing strategy.

What makes a profitable vacation rentals marketing strategy? A strong marketing campaign for a vacation rental is characterized by:

• A highly specific target audience
• Appropriate use of media channels
• Fair pricing
• Professional photography
• SEO
• Online booking

It can be difficult to come to terms with poor rental performance but be reminded that a lack of renters may not be attributed to a lower quality of your home. Instead, other property owners may simply have a more reliable marketing strategy. Though you may be discouraged at first, don’t get lost in dismay – this is fixable! Use the guide below to perfect your marketing campaign to maximize the revenue generated from your property. 

Change Your Perspective on Your Vacation Rental Marketing Approach

Vacation rental marketing is no longer characterized by the “mom and pop” style business approach within the scope of the hospitality industry. It is a booming, mature business venture, supported by all types of business-oriented individuals of all backgrounds such as:

• Travel experts 
• Entrepreneurs
• Investors  

This means that there are a wider range of resources available to you to develop a wide-reaching, technologically adaptable marketing strategy. 

Even if you specialize in renting out homes in remote areas, you can still find a way to marketing your vacation rental to a wider audience. Many newcomers to the industry believe that their homes must be located in a major city to attract a viable pool of consumers. Yet, the appeal of homes in secondary and tertiary markets continues to grow and reach a broad audience of eager travelers. No matter where your home is located, you can find a dependable, sustainable way to market your rental.

How to Increase the Specificity of Your Target Audience

An integral part of a functioning marketing plan is to identify a specific target audience for your marketing efforts. You cannot reliably attract people to your business if you don’t have an idea of who you’re aiming to attract! To bolster your revenue and generate greater interest in your vacation rentals, increase the specificity of your ideal guests. 

Once you increase the specificity of your target audience, your marketing efforts will become increasingly accurate. This will inevitably yield conversions from initial interest to bookings. Some of the best options for a vacation rental target audience include:

• Large groups of friends. For example, think of the target audience of Groupon: groups of friends or family who are looking to travel and experience new things together! You might consider offering seasonal discounts or offers for a minimum number of guests in a single visit to attract more customers. 
• Families. Small and large families alike are great to target your marketing campaign. They are likely to feel more comfortable when renting a vacation home, especially with small children. Instead of being cooped up in a hotel, they may find greater relaxation when allowing their kids to run around in a suitable home. They may also be attracted to a higher number of rooms in the house as opposed to having to rent out multiple rooms in a hotel. 
• • Note: If you choose to market to families, make sure to highlight any kid- or family-friendly elements in your locality or the home itself. For instance, if there are playgrounds nearby, make sure to note that in your campaign. 

• Millennials. No one looks for travel deals quite the way millennials do! Now, when you market to this age group, remember that not all fall under one blanket personality type. Some millennials are quite outgoing, while others prefer quieter, more reserved vacations. Take a good look at where your vacation rental is located and choose your niche based on that. 
• • Note: If your rental home is located in a big city, highlight the metropolitan, busy “city living” aspect of the vacation. Note all the amenities nearby (movie theater, mall, etc.). For homes in more remote locations, focus on the natural environment surrounding the house (visitors may find serenity in the landscape of rolling hills or the forest backdrop, for example). 

• Business travelers. Why not offer someone who is obligated to travel a little luxury and comfort here and there? Your success in marketing to business travelers will be partially influenced by the size of your home. Most often, these travelers are on the road alone or with only a handful of colleagues, so they may not want to rent a 4-bedroom, 2-story home.

As you narrow down your target audience, be aware of the key attractions in your area. You may still wish to market to families, for example, but you will be targeting an entirely different family if your vacation rental is located near Yellowstone National Park versus Disneyworld in Orlando, Florida. Pay attention to the features in the locality you would like to capitalize on and allow that to assist you in specifying your ideal guests. 

Reaching Your Ideal Guests

Now that you know who your ideal guests are, how in the world do you expect them to see the marketing content you create? This is where many vacation rental owners fail, as they do not take advantage of the technology and media channels that were once sparse in this industry, but are now widespread. 

Those who have taken advantage of the appropriate technologies, however, assert that as a vacation rental owner you should capitalize on a personal, emotional story about your experience in the home. When you first reached this destination, what were your feelings? What memorable, positive experiences have you had in this vacation rental? Can your guests experience the same joy?

As you begin to narrow down the particulars of your target audience, you will begin to clue into what types of media they consume. Chances are, if you are aiming to communicate with younger generations like millennials or large groups, they will be best reached through social media. Facebook events are a common tool for planning large get-togethers, so they’re likely to see your marketing content on such platforms. 

If you’re hoping to catch the attention of families or lone travelers, you might look into securing a feature here and there on a lifestyle blog. To help you in choosing the perfect media channels you’re your marketing efforts, check out the options below.

1. Influencers

Who better to market your vacation rental than someone with a loyal audience of tens of thousands, even millions of followers, all with similar interests? Lifestyle and travel bloggers are a new frontier for marketing, as they can bring your target audience directly to your rental. Influencers can virtually bring your target audience inside the home you wish to offer and give praise where it’s due. 

It’s almost as if they’re doing the legwork for you! Reach out to an influencer who has a substantial following, as they will reliably offer you some fantastic publicity. (You don’t have to stay within the scope of media influencers. You can also reach out to journalists and other communications or media specialists!)

You can find the appropriate influencers through avenues including:

• BuzzSumo
• Pitchbox
• BuzzStream

Of course, you can also simply reach out to an influencer that you are subscribed to! If you have a favorite YouTube channel or TV program (such as those on the Travel Channel), shoot an email or Direct Message to your chosen individual and see if they’d like to stay at your rental! It’s best to offer the stay at a steep discount or even for free to provide an incentive for their visit. 

2. Travel Forums

When people plan their vacations, they almost always seek out information from other travelers who have been to the same or nearby destinations. You can make your way into some travel and lifestyle forums to share information about your rental, or even join forums with other owners of vacation homes. 

(Note: If you choose to market your home through a forum, make sure to read the terms and conditions of the forum ahead of time. Many forums specify that explicit marketing content is prohibited in efforts to prevent or reduce spam. Still, if anyone asks for suggestions on where to stay on their next trip, you can simply suggest your own rental without violating any rules.)

If you happen to fall into a forum with other owners of vacation rentals, don’t be afraid to ask them about what works and what doesn’t (especially if they’re located in the same general area!). 

3. Social Media

This is pretty much a given. Social media is becoming one of the core necessities in marketing efforts for business owners across all industries. So, you must learn how to use it to your advantage if you wish to gain a viable pool of interested parties for your rental. Social media platforms through which you can market your property include:

• Instagram
• YouTube
• Facebook

Keep in mind that social media marketing (SMM) is an art. You don’t want your profile to be aggressively commercial – that will surely drive potential customers away, as people now have a natural aversion to advertisements. As you curate content for your profile, keep the following ratio:

• 30% This portion of your profile should be dedicated to promotional material. This content should flow naturally, avoiding overly sales-oriented language. 
• 70% Share information about the happenings in the surrounding area. Are there local events taking place during a certain time of year? Do you have suggestions on where travelers should visit while staying at your rental?

Above all, make sure that your content is engaging and genuine when marketing via social media. Otherwise, your audience will sniff out the corporate disconnect right away and will likely avoid your profile, and therefore, your rental. 

A Double-Edged Sword: Pricing Your Vacation Rental

It can be tempting to set the price for your vacation rental quite high, especially if it is located in a highly-sought-after area. You may want to milk the price as much as possible to get the maximum profit, but this is the wrong outlook – one that can quickly backfire, too. However, on the other hand, pricing your rental too low can cost you money. So, what do you do?

First, understand that the price of your vacation rental is not static! This will change throughout the year according to seasons of:

• High tourism (people are more likely to travel and take vacations during winter and spring breaks, for example).
• Special events such as concerts. 
• Other time-sensitive attractions like the summer for beachside vacation homes or winter for rentals near ski resorts and similar destinations. 

For instance, a vacation rental located in Los Angeles can be priced much higher if there is a huge concert in town. Travelers may expect a rental located near Yellowstone to be more expensive during hot travel seasons like spring, when all the young animals are romping around. 

As your adjusting the pricing, make sure to avoid the following mistakes:

• Restricting the scope of your pricing to only short-term gains. This is primarily where people tend to fall into the trap of making their rental far too expensive. When thinking of how they can make a profit from their property, they focus too much on a nightly basis, when they should be thinking on a grander scale. 
• • For example, you should not allow yourself to get caught up on how much money you can make if you offer rooms at $200 nightly versus $300 nightly. Instead, stop thinking on a per night basis and put yourself in the mind of the renter. Emphasize value over pricing, and travelers are sure to want to take advantage of your amazing rental home. 

• Considering the wrong properties to be competitors. As you begin defining the key characteristics of your rental to highlight in your marketing campaign, you will have to compare those traits to others. This distinguishes your property from others – but only if done right. Making the mistake of choosing the wrong competitors can either do little to nothing for your rental or completely backfire. 
• • While you conduct your market research, seek out homes that are equivalent to yours in terms of location, layout, and amenities. Why is your home better than the others? If you raise your prices to compete with homes that are in no way similar to yours, this misguided decision may end up losing bookings altogether. 

• Pricing based on personal or sentimental value. You must remember that your vacation rental is not about you! Although you may value your home tremendously, not everyone has the same perspective and prospective renters may be deterred by a high cost. Your proposed rental price needs to be based on market value, rather than personal value. 
• Keeping pricing the same year-round. We’ve already touched on this, but it bears repeating. Pay close attention to events and tourism patterns in the area in which your rental is located. Take advantage of the seasons in which travelers are willing to pay more and change your prices accordingly (but fairly). Again, you must research the current offerings on the market to gauge what’s fair and what’s not. 

Pricing is a large part of a successful marketing campaign. If there’s one thing buyers hate (across all industries), it’s a lack of transparency about the price of the product they’re interested in. Don’t hide the nightly price or additional fees or make it difficult to find this information. Create a fair price that is based on market research to successfully compete in the hospitality industry, while providing your renters an incomparable value. 

Final Tips on Vacation Rental Marketing

Vacation rental marketing is an incredibly competitive industry. As property owners become more technologically savvy and marketing expertise grows, the industry leaves the familiar, comfortable environment of the “mom and pop” world and becomes a profitable commercial endeavor. With this in mind, it is clear that you must adapt with the times or get left behind. 

To keep you up to speed on what works in this industry, use the following tips when marketing your vacation rental home. 

1. Use professional photos in your marketing campaign. This may seem overly simple, but the old phrase is true: “A picture is worth 1,000 words!” Draw potential renters to your listing by displaying crisp, breathtaking pictures that bring the rental description to life. 
2. Optimize your rental headline and description for search engines. Don’t neglect the importance of SEO (search engine optimization) in your online marketing campaign! This will organically bring traffic to your listing and, consequentially, help to generate more revenue. 
3. Accept online bookings. Get with the times! Almost everything is digitalized nowadays, so you’ve got to be, too. Accepting online bookings will streamline your rental process and attract more customers. This is due to the convenience of not having to call or travel to your physical location to book a stay at your beautiful vacation home. 

With this guide, you’ll see a dramatic change in the conversions yielded from your marketing efforts. Use the technology and media channels available to you to reach your ideal guests and base your pricing on value and the current market, and your efforts will not be in vain. 

Owning a vacation rental is one of the most lucrative investments a person could possess in recent years, as many travelers are moving away from hotels and choosing rental properties as a way of obtaining more space, dividing costs, and creating a more home-like experience. However, to capitalize on the investment, the property must have high occupancy rates.

How can you maximize vacation rental income? There are several helpful tips for helping you maximize vacation rental income, but the majority are centered around active and professional marketing efforts that paint a clear description of your property and let customers know it is available.

As with everything related to economics, every opportunity comes with a cost, and the soaring popularity of vacation rentals also means that there is more competition in the field. Statistics show that there are over 660,000 vacation rental properties in the United States, so it is vital that you take active measures to set your property apart to keep the rent coming in.

9 Tips to Maximize Vacation Rental Income

Although most vacation rentals are located in tourist destinations or, at the very least, in areas that see heavy travel, the property will not rent itself. While hotels have the benefit of a national name and branding efforts that get them on travelers’ radar, your rental property is likely unique, so you will need to work extra hard to let travelers know it is available.

The following list delineates nine best practices that can help you keep your property steadily occupied and ensure that you maximize your rental income.

List Your Property on a Broad Array of Platforms

Just as the number of rental properties has ballooned in recent years, so has the number of listing platforms grown, as well. This means that although there is a record number of tourists and travelers looking to stay in vacation rentals, there are listing platforms that divide this prospective clientele base into comparatively small pools.

Therefore, in order to get your property in front of the eyes of possible tenants, choosing your favorite platform, listing your property, and letting it sit will not get the job done. You must cast a wide net and have your vacation rental an active member of multiple networks.

It is important for the property owner to be familiar with all of the listing platforms on the market and choose a good selection to increase the property’s visibility. The following list looks at some of the more recognizable names in the vacation rental market and offers some insight as to why you should consider using them for your vacation rental:

Airbnb

This platform is almost a must for those looking to list a vacation rental, as it was one of the earliest players in the game and thus has a considerable advantage in terms of name recognition. In fact, shopping for an “Airbnb” has almost become synonymous with searching for a vacation rental.

Airbnb will expose your property to the widest possible pool of travelers of any single platform, as it has a community of over 200 million guests worldwide. It also does not charge a fee for listing your property and will offer up to $1 million in property insurance, meaning that there is not much downside in using this service.

The downside is that there are roughly five million properties listed on Airbnb. It has become so popular that even hotels, campgrounds, and RV parks have started listing their offerings on the platform. As such, if you have a newly listed property without many ratings, it can be difficult for your rental to show up in a search.

HomeAway

This platform is owned by Expedia, one of the oldest and most recognizable names in travel booking. Therefore, listing your property on HomeAway can give it a name brand and place it among trusted travel options. This association with Expedia also exposes your rental to an extensive guest base.

The downside to HomeAway is that the listing fees are prohibitive when compared to those of Airbnb. Hosts have the choice of a $499 annual listing fee, or they can pay by booking, in which case they will have to pay the platform five percent. There are also hefty fees placed on the guest that can make the final cost significantly higher than your list price.

Booking.com 

Although this website is more known for hotel listings, as the most heavily visited online travel site, it may be worth your time to throw your rental into the mix. It is free to list your property on the site and consistently serves over one million guests on a nightly basis.

While it is free to list your property, the cost of making an actual booking is steep, as Booking.com invoices hosts 15 percent for each booking. It also takes a fee for any non-refundable cancellations. In addition, because hotels dominate the site, you may not be as likely to find guests who are searching specifically for vacation rentals.

TripAdvisor  

This is one of the premier vacation websites because it is the oldest online community dedicated to travel. The brand recognition will give your property credibility, and you will also have access to offshoot vacation rental sites such as FlipKey, HouseTrip, and VactionHomeRentals.

In addition, the fees on TripAdvisor are extremely low, with free listings and a small three-percent charge for any completed booking, making it one of the premier options for the highest take-home rates for hosts.

The main drawback to TripAdvisor is that it does not necessarily hold a place in customers’ minds as a site for finding vacation rentals. Its long history may have it branded more as a flight and hotel booking or restaurant comparison website than one that can serve those looking for a vacation rental.

There is a multitude of other, lesser-known vacation rental platforms on the market that may be advantageous for specific niches, such as high-end luxury or family rentals. It is important for you to know what will best serve your property and be sure that there are no non-compete issues with the selected platforms you choose.

Supplement the Apps

With the prevalence of smartphone technology, the above-mentioned platforms are a must for your vacation rental, as contemporary travelers are sure to have at least one or two travel apps downloaded on their devices.

However, to truly maximize your rental income, you do not want to rely exclusively on the apps. There are a number of ways for you to market your property on a more local and/or personal level, including the following:

• Social media – There is an old saying that word of mouth advertising is the best kind of advertising. By letting it be known on all of your social media accounts that your property is for rent, you may get a surprising number of inquiries from a “friend of a friend.”
• Property management companies – Local agencies can professionally manage your vacation rental and use their network to help you maximize your rental income potential.
• Build a website – While established platforms allow you to interact with a wide user base, they do not offer a high degree of customizability. By building a website specific to your vacation property, you can shine it in the light that you want. This also serves as a valuable link for those interested customers who want more information. 

Fight Hard for Ratings/Reviews

For better or for worse, technology has shortened the attention span of modern consumers, making it where guests can quickly obtain information and jump to a conclusion in a matter of seconds. 

As such, items such as price, features, amenities, and convenience take a distant back seat to customer ratings. By quickly looking to see how many stars are next to your property’s name, guests will either click to read more or continue scrolling without giving your rental a second thought.

While it may not be fair, even one or two negative ratings on popular platforms can spell doom for your vacation rental. You can have a wonderful, reasonably priced space in a popular destination, but if some of your customers are unhappy and your rating falls below four stars, a large portion of the user base will not give you a chance.

There are a number of ways you can work to ensure a high rating, including the following:

• Communication is king – As part of the instant gratification society, customers expect their questions and concerns answered almost instantaneously. As all listing platforms have built-in chat features, there is no reason not to be able to chat readily with clients and answer questions in a matter of minutes.
• Respond to reviews – Some customers will take the time to leave a review in conjunction with their rating. For positive reviews, be sure to thank them for their stay. For negative reviews, respond professionally to let the community know that you take its concerns seriously and offer to follow up to resolve the matter.
• Be honest in your description – One surefire way to draw the ire of guests is to have them show up to a property that does not meet their expectations. If there will be noise from construction, let guests know before they book; if the pool will not be available, do not lead them on.
• Offer refunds when possible – Another byproduct of the information age is that customers are notoriously fickle. With one swipe of the smartphone, they can cancel one reservation and book another. While your rental income is important, and you must conduct sound business, ask yourself if a cancellation fee is worth a bad rating or review.
• Follow up – After each stay, make a concerted effort to follow up with the guest and encourage them to leave a review. If the guest was unhappy, ask him or her if there is something you could do after the fact that would help them consider leaving a favorable review.

Keep Your Pictures and Descriptions Current 

In the information era, updating and creating new content can be a full-time job. However, it is an absolute necessity to keep your rental property relevant in a competitive and rapidly changing society.

Your home, community, and surrounding areas are likely to change significantly over time, so the description and pictures you used for your initial listing are likely to become dated if not actively managed. The following are some factors worth mentioning in your listing:

• Renovations to your house, such as updated appliances, furniture, or the addition of any beneficial decks, outbuildings, or recreational areas
• New businesses in the area, such as the construction of nearby grocery stores, restaurants, gyms, or theme parks
• Descriptions that match the season, such as warm and cozy for the winter months and cool and breezy for the summer months

As mentioned in the previous section, being honest in your description is essential to ensuring five-star ratings. While you should not go out of the way to make your rental seem undesirable, anything out of the ordinary that may not necessarily be considered positive or exciting should also be fairly described and/or photographed.

Know the Area’s Shoulder Season

One key to maximizing a vacation rental’s income potential is keeping it occupied for the whole year. Sure, rentals in ski resort towns will sell themselves during the winter months when the slopes are open and during the off-season peak when travelers from hot, humid areas want a reprieve from the stifling heat.

However, it is the in-between times (shoulder season) when you really have to work hard to keep your property rented, and that will be the determining factor on how much income you ultimately earn for the year. The shoulder season is generally the spring and fall but will vary based on your property’s climate, seasons, and local attractions.

During the shoulder season, you may need to consider lowering rates, offering extended-stay promotions, or creating a package deal with local businesses to help draw occupants when guests are not necessarily flocking to your destination.

Develop a Niche

As the saying goes, a jack of all trades is a master of none. This is especially true in the information era when people can customize their searches to find exactly what they are looking for.

You will want to have a distinguishing feature that will take your property to the top of a keyword search. Simply having a generic “beautiful oceanfront home” is not good enough, as there will be hundreds of similar descriptions for properties on the beach. You need to find that key calling card that will stand out to a specific customer base. 

A Picture is Worth a Thousand Words

Anyone with a smartphone can loosely consider themselves a professional photographer, as smartphone developers have ramped up storage space for users to house the thousands of pictures that people take on a yearly basis.

As such, simply taking snapshots with your phone is not likely to paint your property in the most favorable light. While a professional photoshoot for your rental may seem pricey, the return on investment can make it seem like a drop in the bucket compared to the increased traffic that high-quality images generate. Professional photographs offer the following benefits:

• Adroit use of lighting to make your spaces seem more inviting and cheerful
• A huge collection of images from which to choose, as the most successful listings provide at least 20 photos
• An increased likelihood that those browsing listings will click on links and read further in the description section

Actively Manage Your Calendar

When using multiple online and offline platforms to list your vacation rental, the dates when it is available can become jumbled. Double booking your property can infuriate customers, while erroneously having it booked when it is actually vacant can cost you thousands of dollars.

Make sure you keep a master calendar to record bookings and cancellations from all platforms. After recording a booking or cancellation on your master calendar, immediately update all of the other locations where it is listed. Be sure to keep an updated list of all of the platforms on which your property is listed so that nothing falls through the cracks.

Feature a Well-Stocked Kitchen

A significant reason that vacation rentals are soaring in popularity is that those on extended stays do not want to eat out for every meal, eying the opportunity to save money and cook their own food.

Therefore, the kitchen is the first place many potential guests look when choosing a property. While the basics such as silverware, cutlery, pots, and pans are a given, specialized cooking devices that cater to those on specific diets can be the deciding factor for some guests.

In addition, while hosts do not necessarily have to stock a full selection of groceries, some condiments, and staples, such as coffee, ketchup, bread, and eggs, go a long way toward adding convenience to your property and can create a favorable impression at a small cost.

Did you know that the size of the vacation rental market globally is $ 87.09 billion?

Yes, according to a report by Grandview research, that was the size of the vacation rental market. The market is poised to grow through the next seven years consistently. It means that not only is the present opportunity huge, but the size of the pie is consistently growing as well.

The question then is how to exploit this opportunity?

That is what; we would share with you today. Our post below would help you understand how to market your vacation rental property. One thing you have to keep in mind is that despite the industry size being huge, the competition is increasing as well.

That is why; the only way to profit from this opportunity is to market your vacation rentals. Unfortunately, most vacation rental owners and agencies have no idea about the same. That is what we will help you out with today.

How can I increase my vacation rental booking?

The best way to increase your vacation rental bookings is to use social media, search engines, and word-of-mouth publicity. We will go into the details of these steps and more below.

1. Social media:

Truth be told, the primary guests of vacation rentals for millennials. That is why you should not ignore them if you want to increase your vacation rental bookings.

Have you ever thought where do millennials spend most of their time online?

Yes, you guessed it right! It is on social media. That is why; you cannot afford to keep away from social media if you want to increase your vacation rental bookings. You have to start building accounts and presence on platforms like:

· Facebook

· Instagram (huge potential)

· Twitter

· Pinterest

· And so on

The first step is to create a presence for your vacation rentals on these platforms. After that, you have to share content consistently on these platforms. While it might not increase your vacation rental bookings overnight, you can see a noticeable difference over 8 to 10 weeks.

2. Search engines:

Do you have a dedicated website for your vacation rental?

No, we are not speaking about the Airbnb page. You need to create your vacation rental website, which you can market. Your social media strategy, as well as search engine strategy, will revolve around this website.

There are two ways to use search engines to increase your rental bookings. These include:

· Organic search listings:

You have to try and rank your website for relevant keywords. For example, if your property is in Nice, France, you have to try and rank for keywords like vacation rentals in Nice, vacation rentals near Nice, and so on.

It is the most straightforward way to bring targeted traffic and increase bookings. There is, however, a secondary way as well.

· Local business listings:

Search engines like Google and Bing have local business listings as well whenever someone types in geographically targeted queries. In that case, both the organic search results and local listings are displayed. You have to list your business in their local business programs like Google Places and Bing Local to appear in those widgets.

The procedure is not that difficult. You have to verify your website through a portal also verify your property address. After doing so, within a few days, your vacation rental will be listed. With age and positive reviews, it will surpass other local listings to appear higher.

These two avenues can ensure that you can tap into the vast search engine traffic.

3. Word of mouth publicity:

Word of mouth is the most powerful way to increase your bookings. A satisfied customer is sure to recommend your vacation rental to others. Also, since the recipient of the recommendation in all likelihood would trust the person recommending the property, the conversion rate is pretty high on word of mouth publicity.

The question is, how to garner word of mouth publicity?

The answer is by going the extra mile.

Instead of just having all the necessities in your vacation rental, you have to go the extra mile to help your guests out. You have to proactively answer the questions which your guest might have after checking-in into the property. You have to do things like:

· Offer multiple entertainment sources to the guest in your property.

· You have to place a local guidebook on your property.

· You have to check with the guests just after the check-in and once a day during their stay.

· You have to be quick and efficient in solving the problems which they face (If any).

Once you go that extra mile, satisfying a guest will be easy. Only a satisfied guest would recommend your vacation rentals to others.

These three are the most important ways to increase your vacation rental bookings.

We understand that many of you might want to see a bump in bookings within the next few weeks. If you're one such vacation rental owner or an agency, it is time to promote your vacation rentals. We would discuss the same below.

How to promote vacation rental?

Promoting a vacation rental is easy using techniques like Influencer marketing, video marketing, and social media.

Confused about what exactly you should do?

Do not worry! You are not alone.

Many vacation rental owners and agencies think that promoting vacation rental is an uphill task.

That is not true!

We would highlight a few promotional methods below that are easy to execute.

1. Opt for influencer marketing:

In today's digital age, influencers hold a lot of say. Millennials online trust these influencers.

Instead of spending hundreds of dollars trying to promote your vacation rental, it is better to offer incentives or a free stay to an influencer. Once they share their positive experience with the community, you're sure to gain not only a lot of bookings but also build a brand.

2. Use video marketing:

Almost all vacation rental owners and agencies use pictures and images to promote their vacation rental. However, video marketing is unexplored by most of the vacation rental owners. That is what you have to take advantage of.

Video marketing on social media websites and on YouTube can easily help you promote your vacation rental and stand out from the crowd. With the right keywords and description, you can rank some longtail keywords as well, which means you would get long term traffic. It is one of the lucrative ways to promote your vacation.

3. Advertise on social media:

Did you know that you can start advertising on Facebook and Instagram for as low as $ 10?

With such low thresholds, it makes perfect sense to spend a bit to get those bookings. Your advertising campaign might take some tweaking, but the ROI is going to be awesome. That is why; you should not shy away from paid advertising on social media.

These three are the most effective ways to promote your vacation rental.

All of the above techniques will only work when you have something unique to offer. In the crowded space of vacation rentals, doing that is not that easy. However, we would share with you a few tips below to help you achieve exactly that.

How to make your vacation rentals stand out?

A vacation rental can stand out based on check-in and check-out process, smooth communication, working on guest feedback, and so on.

Don't sweat it out! We are not asking you to remodel your vacation rental.

We would just suggest a few tweaks which you can perform to help your vacation rental stand out. These include:

· You need to have a smooth check-in and check-out process of your guests.

· You have to provide them with a 24/7 contact. It will ensure that in case of any emergency, they know who to contact.

· You have to provide them with the visitor's book or a feedback mechanism. This would make them feel heard.

· You have to harvest the feedback mechanism or the visitor's book to find suggestions for improving your property. 

Doing so will help you improve your property tremendously over time.

· You have to step into the guests' shoes to understand what they would need as a guest at your property.

o?Would they find board games interesting?

o?Would they need the best restaurants around?

o?Would they want to know more about the host or the property?

You have to think about the answers to these questions and integrate them with your property. A few board games or a list of best restaurants around or a brief about the property or the host will not cost you hundreds of dollars. However, these additions will certainly make your property stand out. Thinking from the point of view of the guest will provide you with multiple ideas to make your property stand out.

· Lastly, you have to add Instagram or the social media wall to your property. Something that has the potential of being synonymous with your property's experience. It can be a uniquely painted or a textured wall or a particular corner of your room. Guess these days like to post their experiences on social media. When you create such a unique feature in your property, they would post it on social media. It will not only garner some more eyeballs but also help your property stand out.

As you can see, there are a few tweaks that you can undertake to make your property stand out. These would not take a lot of time, effort, or money. The upside which they can bring is enormous. That is why; you should act on these few tips as soon as possible.

How to promote your Vacation Rentals on Social Media?

Above, we briefly touched on social media platforms to promote your vacation rental. No, we would elaborate more on that.

Some of the ways to promote your property on social media include:

1. Create separate accounts:

You have to create separate accounts on social media platforms for your property. These would be professional looking business accounts.

2. Upload content consistently.

You have to consistently share images and videos of your property on these accounts. You might be thinking, what should you upgrade consistently on social media?

· Add a new feature? Why not share that on social media?

· Got a bunch of happy guests? Share their feedback on social media!

· Pleasant weather around your vacation rental? Snap a picture and share it!

There is no dearth of content or images that you can post on social media when you own a vacation rental. Every day provides you with countless opportunities to generate content.

3. Highlight the experience:

Many vacation rental owners and agencies make the mistake of promoting the property itself. However, you're competing with hundreds of other properties. Instead, you can stand out when promoting the experience and have a lasting impression on the prospective visitor.

4. Interact on social media:

Promoting your vacation rental on social media is not a one-way street. You have to interact with the prospective visitors, answer their queries, and make it easy to book your vacation rental. Only then, can you expect to gain some benefit out of social media.

While there are many ways to promote your vacation rental on social media, these four simple ways can provide you with profound results.

How do I market my vacation rental property?

The best way to market your vacation rental properties to list it across various sites, get more reviews, and tie up with local events and festivals. That would certainly increase the visibility of your vacation rental and get you more bookings.

With the competition in the vacation rental space increasing at a rapid pace, marketing has become a must. Fortunately, in this digital era, marketing your vacation rental property is not that difficult.

1. Use several websites:

Most vacation rental owners and agencies just stick to Airbnb. However, that is a mistake. There are numerous other vacation rental websites that you can take advantage of. These include:

· VRBO

· HomeAway

· Vacasa

· Turnket

· Booking.com

· And So on

With these websites, you can extend the reach of your vacation rental property far and wide.

2. Get more reviews:

Nothing is more convincing than first-hand customer experiences. That is why you have to try and get more reviews from your existing guests.

These can be testimonials on your website, vacation rental websites, or social media. The higher your rating, the higher will be the conversion rate.

Testimonials also work as user-generated content. The more content generated, the higher would be your organic reach across search engines and social media websites. That is why; testimonials and reviews can help you market your property.

3. Make use of local events and festivals:

If there are any local events, festivals or exhibitions happening in the vicinity, you have to update your listing accordingly. You have to try and tie-up with the organizers of those events as well. Doing so will help you market your vacation rental easily.

Also, you can use the city where the event is garnering to market your vacation rental even more. It is often an underused trick. If you start early (most festivals/events are planned months in advance), it is easy to get bookings at the premium rate.

4. Ask for references:

Another great way to market your property and get more bookings is to tap into the vast pool of previous guests. Especially those who have had a positive experience while staying in your vacation rental. It will not only help you generate word of mouth publicity but also direct bookings.

These four are the most effective ways to market your vacation rental.

How to market vacation rental property?

The best way to market any vacation rental property is to sell the experience rather than the property. You can also tie up with local restaurants, tourist attractions, and businesses to offer a complete experience. It will help you stand out among the crowd and also make your marketing more potent.

Simply put, you have to offer much more than a competent vacation rental. You can do so by:

· Including breakfast from a nearby restaurant

· Providing discounted tourist attraction tickets

· Providing discount vouchers of nearby stores your guests

Once you do so, all these advantages will turn into your marketing edge. Then, you will have quite a few marketing angles to use. That would certainly help you market your property in a much better way.

How do I Advertise my Aacation Rental on Social Media?

The best ways to advertise your vacation rental on social media are:

· Upload pics and videos of your vacation rental properties consistently

· Interact with social media users (Those who comment & like your content)

· Use the right hashtags

· Upload content worthy of sharing

· Share discount codes on social media

Apart from these, of course, you can use paid advertising platforms like Facebook, Instagram, and Twitter to advertise your vacation rental on social media.

How to set up a vacation rental by owner?

To setup vacation rentals by owner, the steps which you should undertake are:

Step 1: Create a vacation business plan (Real estate cost, maintenance cost, cleaning cost, wear & tear, and so on)

Step 2: Stage the property for guests

Step 3: Quote an affordable rate

Step 4: Market and advertise your vacation rental

Step 5: Improve your property!

Step 6: Sell the experience

Step 7: Maintain the property

In a nutshell, these seven steps will make it easy to set up a vacation rental.

So, if you have been struggling to know how to market vacation rental property? Now with our guide above, you can do so easily. It is time to take a large bite out of this huge market to increase your bookings and boost your bottom line. With the help of a detailed guide above, no question is unanswered now. All you need to do now is to act on the tips above.