By 2030, the vacation rental industry should be worth $172 billion. Despite that, making money on these properties isn't a walk in the park.
Why is vacation rental success so elusive? In simple terms, there's no one-size-fits-all approach to creating a memorable guest experience. Being a vacation host involves a lot of strategic thinking and adapting to trends.
Fortunately, there are some key tactics that will always provide results. Read on for our list of key vacation rental hosting tips in Austin, TX!
Use Dynamic Pricing
The best rental management advice we can give you is to have a dynamic pricing strategy. In doing so, you should consider factors such as:
- Seasonal demand
- Your unit's characteristics
- Local events and activities
- Market trends
For example, during the off-season, you should likely lower your prices and minimum stays. You may also want to target specific travel niches, such as promoting your property as a 360 experience.
Always Be Available
Reliable guest communication is the first step toward positive guest reviews. From booking the listing until check-out, most guests demand prompt replies. Following up with them will create the image of an attentive host.
Of course, it's not realistic to be available 24/7. What you can do is rely on automated messages to provide assistance. For best results, create a list of frequently asked questions and use AI to answer them automatically.
Offer Self-Check-In
One good way to upgrade your vacation rental booking system is to offer a self-check-in option. Your options include:
- Key lockbox
- Smart locker
- Key exchange service
Self-check-in is great if you don't want to wait around for guests to arrive. For an extra layer of protection, consider customizing codes for each guest. This is particularly helpful for hosts that manage multiple properties.
Have a Welcome Basket
Another way to increase guest satisfaction is to greet them with a welcome basket. A carefully curated basket can leave a lasting impression. Customize it to reflect your location or a special occasion.
As for what to include, it can be anything from local souvenirs to a bottle of wine. One thing you should always include, however, is a personalized note thanking the guests for their stay.
Create a House Manual
A house manual is a guide to your vacation rental and its surrounding area. It provides essential information about:
- House rules
- Property functions
- Appliance instructions
- Local recommendations
These days, having a manual is among vacation hosting best practices. Having all the key information in one place helps guests navigate their stay. Your manual is also a reflection of your attention to detail.
Follow These Vacation Rental Hosting Tips!
Looking for a way to stand out from your competitors? These vacation rental hosting tips will get you started! If you're managing more than one rental, consider hiring a property manager to assist you.
At PMI ATX Properties, we specialize in vacation property management services in Austin. We've been in this business for 20+ years and we work with industry-leading vendors to provide 100% guest satisfaction!
Interested in our services? Start by getting a free rental analysis of your property and the surrounding area!
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