The Hidden Dangers of Buying Email Lists in Vacation Rental Marketing
Navigating the complex world of vacation rental marketing requires both strategy and caution. Among the myriad of tactics available, one particularly risky shortcut stands out: purchasing email lists. This approach, while seemingly quick and effortless, is laden with hidden dangers that can undermine your marketing efforts and business reputation.
Top 10 Accounting & Finance Mistakes
In his book Vacation Rental Secrets, D. Brooke Pfautz shares candid feedback from property managers across the country on what they consider their top 10 biggest mistakes. If you haven't read it yet (and you should), accounting and finance show up again and again as issues that every property manager encounters.
How to recover from the inevitable service hiccups
Problems can and will happen, but it's how you address them that counts. Have a plan in place to resolve issues promptly and communicate thoroughly. Track the issues, the solutions and which homes are most frequently affected.
Enhancing the Guest Experience: a Key to Repeat Bookings
The lifeblood of any short-term vacation rental business is not just getting bookings, but achieving repeat bookings. The guest experience plays a significant role in influencing this. A satisfied guest is not only likely to return but can also turn into a vocal advocate for your business.
CASE STUDY: Selecting a Property Management System
A small property management firm with less than 25 properties faced operational inefficiencies due to their outdated Property Management System (PMS). Their legacy PMS was not only expensive but limited in capabilities. It connected to Online Travel Agencies (OTAs) through third parties, lacked automation, and missed essential features like owner statements and an integrated accounting system. The managers did not feel they had the expertise to vet and implement a new PMS.
CASE STUDY: Dynamic Pricing
In the past, vacation rental managers used to set prices for their properties on a month-to-month or week-to-week basis, which is known as Set Pricing. This meant that the same price was set for many dates, regardless of the level of demand. For example, July would be priced at one point, while December would be priced differently. As the vacation rental market grew, managers learned to capture demand more profitably by pricing holidays differently.
CASE STUDY: Virtual Assistant Remote Teams
Managing 50-75 mountain cabins, the client grappled with operational inefficiencies and an overwhelming volume of guest requests. Challenges spanned auditing reservation details, coordinating with vendors, addressing guest communications promptly, and efficiently ogging expenses and handling damage claims.
The Power of Photo Captions in Vacation Rental Listings
In the increasingly competitive digital marketplace of vacation rentals, every detail counts. We know that high-quality images play a pivotal role in drawing attention to a listing. But here's a fact that might surprise you: after the title, photo captions are the second most commonly read part of the Airbnb or Vrbo listing. Despite this, they often go underutilized.
The S.M.A.R.T. Approach to Growth and Profitability
Our consulting approach is grounded in the S.M.A.R.T. framework, focusing on Specific, Measurable, Achievable, Relevant, and Time-bound projects. This ensures clarity in objectives and keeps our suggestions actionable, avoiding unrealistic aspirations and scope creep.
Extend Your Reach with Search Engine Marketing (SEM)
While SEO efforts can greatly increase your website's organic traffic over time, Search Engine Marketing (SEM) can provide more immediate results. SEM, often associated with pay-per-click (PPC) advertising, can significantly boost your visibility on search engines, helping to attract potential guests to your vacation rental property.
Boost Your Visibility with Search Engine Optimization (SEO)
Once you have a website for your vacation rental business, it's time to optimize it to ensure it's attracting and retaining potential guests. Search Engine Optimization (SEO) plays a critical role in improving your website's visibility on search engines like Google.
Marketing Mojo: Strategies for Your Vacation Rental Business
In the ever-growing vacation rental industry, standing out from the crowd is crucial. It takes more than just having an attractive property in a popular location; you also need effective marketing strategies to attract and retain guests.
Mastering the Art of Managing Guest Expectations and Reviews
The success of your vacation rental business doesn't only depend on the quality of your property or its location, it's also built on the experiences of your guests. By effectively managing guest expectations and paying attention to their feedback, you can drive more bookings, foster customer loyalty, and establish a strong reputation.
From Purchase Price to Profit: Understanding Vacation Rental Economics
One of the key financial factors to consider when choosing a vacation rental property location is the relationship between home prices and potential rental income. High property prices can be a barrier to entry, but they may also signal a high-demand area where you can charge premium rates.
How to Choose the Perfect Location for Your Vacation Rental Property
Location. Location. Location. It’s a real estate mantra that rings especially true in the world of vacation rentals. Selecting the perfect location for your vacation rental property is often the most critical decision you'll make as an owner. It can dictate your rental’s demand, revenue potential, and ultimately, its success. But how do you choose the perfect location?
Unleashing your potential: why real estate agents should consider starting a vacation rental business
The vacation rental market is booming, and there's no better time than now for real estate agents to capitalize on this thriving industry. As an expert in property management and sales, you already possess the essential skills needed to succeed in this business. In this blog post, we'll explore the benefits of starting a vacation rental business and how it can complement your existing real estate career.
Welcome gifts: how important are they to your Airbnb Superhost status?
A welcome gift can play a crucial role in helping a property manager achieve Superhost status on Airbnb (or Premier Host status on VRBO) by enhancing the overall guest experience and encouraging 5-star reviews.
What is Hygge?
The essence of hygge is to appreciate the simple things in life and to find joy in the present moment. This could mean enjoying a cup of hot tea, lighting candles, reading a book, or spending time with friends and family. The focus is on creating a peaceful and calming environment, which allows for stress and worries to be forgotten.
What are the key performance indicators for vacation rentals?
Short-term vacation rentals have become increasingly popular in recent years, with platforms such as Airbnb, Booking.com, and VRBO leading the way. To determine the success and profitability of these properties, owners and managers must track key performance metrics.
How to price in a competitive market
Hygge Hospitality Partners uses our years of pricing experience to implement and build Dynamic Pricing to deliver higher returns to their homeowners. After selecting the correct pricing system for your business (i.e. PriceLabs, Wheelhouse, Beyond Pricing, etc.) the real opportunity is in adjusting your pricing and managing it in real-time. By determining to overprice the market on holidays, underprice on shelf seasons, and much more returns can be increased many fold.