Posts Tagged ‘Vacation Rental Tips’
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.
Before taking a vacation it’s a good idea to determine what kind of a budget you are working with. This will really dictate where you can rent a vacation home and what kind of activities you can do in the area.
There are a lot of expenses that you may not have considered so it’s important to think about your trip in as much detail as possible. There are luggage fees, car rental fees, pet boarding fees, etc. The list goes on and on! Well here are a few tips that can help you save some money on your vacation rental and your entire trip.
Shop Around
It’s a good idea to look for a vacation rental online and compare the listings in a particular area of interest. You may be able to negotiate with a property owner of a vacation rental that you prefer over another that is more expensive. It doesn’t hurt to contact them and ask if they will price-match the competition.
This also means you should shop around for the best prices on air fare and car rentals as well.
Be Realistic
When selecting which vacation rental property would be best consider how much space you really need and what kind of amenities are necessary. You may be paying for some features that you do not need or want. You will be able to pack fewer clothes if your vacation home has a washer and dryer. Think about it.
Book Early
Sometimes you can get a good deal if you are able to wait till the last minute to make vacation plans. However it’s a good idea to book in advance and if you are really flexible off-peak times offer the best deals.
Transportation
Consider if it’s really worth it to rent a vehicle from the airport or if you can catch a shuttle to your destination. Usually car rentals from an airport are really costly and can drastically increase your budget. A better idea is to see if the vacation home owner would be willing to pick you up and drop you off at the home. Then rent a car from there.
Seek Value
What kind of a deal are you really getting? Is the vacation home owner offering you any extra benefits for choosing their home over another’s? Sometimes you can get a gift card or products that will help ease the costs of taking your trip.