Vacation Rental: The 5 Next Steps You Should Take

April 23, 2020

All over the nation, vacation destinations are beginning to ever so slightly see a light at the end of the tunnel. We have a long way to go until we arrive at “the new normal,” but loosened restrictions across the country are a sign of hope in an otherwise stagnant industry. For Vacation Rental providers, the steps taken right now can set their companies up for long-term success. Below, we outline some immediate steps that can lead to large gain when the curve is flattened.

1. Show Your Support

There is a strange reassurance knowing that we are all in this together as an industry. Vacation Rental professionals are currently showing solidarity by participating in the “To Guests, with Love” project hosted by both Touch Stay and Hostfully (two competitors in the industry). This project gives companies the opportunity to record a message of hope to their prospective guests. Not only does this showcase a fantastic message of support and solidarity, it also promotes brand recognition that can be used as social media posts, email campaigns, and blog entries that your guests can view.

2. Reassess Profitability Per Property

Those who follow Matt Landau have been fortunate enough to receive a constant stream of beneficial information surrounding the future of the Vacation Rental Industry. In the article above, Landau discusses the importance of assessing your inventory’s profitability as the future will place emphasis on properties that generate a solid amount of income. Trimming the fat is a good place to start.

3. Disinfect and Deep Clean

When this is in our rear-view mirror, Vacation Rentals will emerge as the preferred guest choice due to the benefits of a professionally managed property. So how can you begin to proactively deep clean and disinfect your properties and where to start? Breezeway has you covered. Click the link above to download their COVID-19 Disinfect and Deep Clean guidelines so you can get the jump on what we hope will be a strong Quarter 3 and 4.

4. Beef Up Your Messaging

Now is a fantastic time to be part of the solution. A positive Marketing Message can go a long way as guests look to you for guidance regarding certain regions. ICND’s blog post outlines some savvy ways you can promote your brand’s recognition and stay top of mind.

5. Focus on Your Visual Marketing

A recent post from Key Data Dashboard shows that late summer bookings are on the rise which means that guests looking. How does your visual marketing compare? This might have been the first thing put on the backburner at the beginning of year, and now it could quite literally stand between you and your revenue. While units are vacant, now is a great time for reshoots, floor plans, virtual tours, and anything else that can facilitate an informed booking decision.