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.
I am sharing information about a new free Facebook application we just released called Second Porch.
Cheers,
Ron
Hi!
I would like to add one advantage to your list. For long people have feared to book vacation rentals because they might seem them as “uncertain.” Vacation Rental websites like rentalo.com for example are now taking some extra steps towards diminishing that incertainity. Now you can book with them using their “worry free guarantee” which covers you in case something goes wrong with your vacation rental. That to me, is a very nice added value!
Anne Marie,
Thanks you for your additional to our list, I find it really wonderful that we can converse and communicate through this medium. Also its wonderful to help out vacation renters in case they need any help!