Is Your Property Manager Maximizing your Bookings?
As a short-term rental property owner, you know that bookings are essential to your bottom line. But how can you ensure that your property is booked as often as possible? The answer lies in hiring a good property manager. A good property manager will have the experience and expertise to market your property effectively and attract the right kind of guests.
In the past, simply listing your property on online travel agencies (OTAs) like Airbnb and VRBO was enough to ensure that it was booked. However, as noted in the article "Vacation rental market shift leaves owners in 'nerve-wracking' situation as popular areas remain unbooked" the short-term rental market is becoming increasingly competitive. Property managers now need to do more than just list their properties on OTAs to get bookings.
Here are some of the things that your property manager should be doing to increase bookings:
List your property on the right channels
Not all vacation rental platforms are created equal. Some platforms are more popular with certain types of guests, so it's important to list your property on the right ones. Your property manager should be able to advise you on which platforms are best for your property.
Optimize your listing
Your property listing is your first impression to potential guests. It's important to make sure that your listing is well-written, informative, and visually appealing. Your property manager should be able to help you optimize your listing to attract more bookings.
Price your property competitively
The pricing of your property plays a crucial role in its booking prospects. To optimize your investment and attract potential guests ahead of similar properties, it's essential for your property manager to adopt competitive pricing strategies, such as dynamic pricing. This approach ensures that you stay ahead in the market, reaching out to potential guests effectively and maximizing returns on your investment.
Market your property
In addition to listing your property on the right channels, your property manager should also be actively marketing your property to potential guests. This may involve using social media, email marketing, or other channels.
Provide excellent guest service
Once a guest books your property, it's important to provide them with excellent guest service. This means being responsive to their questions and requests, and making sure that they have a positive experience during their stay.
By monitoring your property manager's adherence to these suggestions, you can ensure they are taking the necessary steps to boost bookings for your short-term rental property. This proactive approach will lead to increased revenue and the achievement of your financial objectives.
Here are some additional areas that owners should ensure receive proper attention from their property managers
Make sure your property is well-maintained. Guests will be more likely to book your property if it's clean, well-maintained, and in good condition.
Provide amenities that guests will appreciate. This could include things like free WiFi, laundry facilities, or parking.
Be flexible with your cancellation policy. This will make it more likely that guests will book your property, even if they're not sure of their travel plans.
Offer discounts and promotions. This is a great way to attract new guests and boost bookings.
Get positive reviews. Positive reviews are essential for attracting new guests. Make sure to ask your guests to leave reviews after their stay.
As a short-term rental property owner, you should be asking your property manager questions about their marketing plans and holding them accountable to their commitments. This will help ensure that your property is being marketed effectively and that you are getting the most out of your investment.
If you need a property management company that can help you maximize your bookings, contact OceanSide Properties today. We have a team of experienced professionals who will work with you to create a comprehensive marketing plan and ensure that your property is booked as often as possible.