Get the Most Out of Your Vacation Rental Property

If you are having a hard time renting out your vacation property there are several strategies that can be used to help improve your chances of renting. If you are just starting out in the vacation rental industry then here are some tips that can get you going instantly.

Vacation Rental Benefits vs. Hotel Benefits

There are a ton of advantages to renting a vacation property as opposed to staying in a hotel room. Sometimes renters do not understand the full benefits.

·         Per-Night Fees – Sometimes when potential renters view a vacation property online they get scared away by a large sum of money. However if you break it down into a per-night rate they will see that costs are reasonable.

·         Amenities – Talk about all of the things the renter will receive, such as a washer and dryer, full kitchen, backyard, formal dining area, media room, bedrooms, etc.

·         Emphasis – It’s important to emphasize how many bedrooms there and how many bathrooms. The more that there are, the more people will be interested.

·         Minimum Stays – Did you know that most vacation renters actually rent for less than seven nights? Try and make your minimum requirements more flexible if you are having troubles finding renters. Remember some money is better than no money.

Offer Value

Sometimes a little incentive is all that is needed to get renters interested in your property. Renters are focused on getting value for their dollars. The more value you can offer them the more likely they will purchase from you. Value is not necessarily a cheaper price.

·         Grocery Store Gift Cards – Offer your renter a $25 or $50 gift card to a local grocery store to help them pay for some of their food expenses for the duration of their rental.

·         Gas Card – Your renter will definitely need this! They will be doing a lot of driving usually and even something like a $20 gas card will go a long way.

·         Stock Necessities – This is a huge convenience for renters. If you stock the property with some soap, detergent, shampoo, etc. Even if it is cheaper quality your tenant will be very, very happy that they do not have to go out and buy this type of stuff as soon as they arrive.

·         Travel Guides – Give your tenants a comprehensive list of the best restaurants, activities and attractions in your area. This way your tenant does not have to go out hunting and searching for things to do.

The perception of value in your renter’s eyes is much greater than the costs of you providing a little extra for them. These small incentives will motivate tenants to select your rental property over someone else’s.

Experience Northern California’s Wine Country

California has become a dominant producer of some of the best wines in the world. The Sonoma County and Napa Valley regions are where all of the vineyards are grown and where the wine is made. If you would like to experience some of the most outstanding wine you will ever taste and see the beautiful California country side there is now a low cost alternative for you.

The wine country of northern California consists of two long valleys that have dozens of outlets, or branches, off of them. As you may imagine everywhere you turn you will be surrounded by vineyards. One of the major problems with this region is that it is dominated by expensive resorts. Therefore it can be a very costly trip, but not anymore. Some residents are now renting out their homes as vacation rentals and there are other vacation rentals that are near to the vineyards. This will save you a considerable amount of money.

Staying a short distance from Napa Valley and Sonoma are probably a good idea if you are in to more than just wine. There are a lot of other things to do in this area. The Napa and Sonoma area is a huge tourist attraction for wine connoisseurs, but that’s about all that they have there as far as activities. While it may seem like a great idea to drink wine for 7 days or more, it is not recommended. On a more serious note you do not want to get a DUI so I suggest riding in a taxi or hiring a wine tour limo as needed so you can really, really enjoy your wine tasting experience.

Napa Valley and Sonoma are two of the most beautiful places to visit in the world! There are tons of vineyards all around you and you will get to taste the best wine this country has to offer. Check out our website for some vacation rentals in California and save some money!

Get a Higher Return on Your Vacation Rental

The vacation rental market is in the process of a rapid incline, even in these hard economic times. So as a landlord for vacation rental property are you ready to maximize your investment? If you have a vacation rental property dedicated only for rentals there are some things that can help you make the most of your income property.

Weekly Rates

The first step is to determine a realistic number of rentals you can book per year. Your objective here is to determine how many weeks you can rent out your property on a yearly basis. This includes the summer months and the winter months. Some property’s can be rented year round while others can only be rented during summer months. So determine what your property is capable of and look at competitive pricing. Once your rentals are broken into weeks, we need to find out how much money you need to cover your expenses per month.

Example: 17 Weeks of Rental during on-peak times with no off-peak rental.

Let’s say your expenses are $2,000 a month on your property and you have 17 weeks of rentals.$2,000 x 12(months) = $24,000 a year, Divide that by 17 weeks = $1,412.

This means that in order to cover your expenses on your rental property for the year spread across 17 weeks you will need to rent for at least $1,412. If you are able to rent in off-peak times the average rent you will need in order to pay your mortgage is going to be significantly less.

The point is to know all of your numbers so you can maximize your property’s income.

Marketing Plan and Budget

Planning is very important to being successful, especially in the vacation rental market. You should have a clear detailed marketing plan detailing where you plan on marketing your vacation rental and how much money it will cost you. It’s important to also take these costs in to consideration when determining how much you should rent your property for.  Using a website like ours will save you money and get you a highly targeted customer base at absolutely no cost to you! Our services are free unlike many of our competitors.

Repeat Tenants

Make your guests feel important. Provide them with the best value that you possibly can and in return they will tell their friends and family how great of a time they had, and you will get free referrals. Ask your tenants for feedback on their stay and use it to your advantage. Send your old tenants a friendly reminder or a pamphlet with information that is beneficial to them on a regular basis. It’s much easier and cheaper to retain a customer than it is to find a new one.