5 Vacation Rental Business Strategies

Everyday we meet vacation rental professionals from all over the world and they range from self-starting owners and property managers, to real estate agencies and large vacation rental suppliers. It’s a delight to see and contribute to their growth, therefore we make it our mission to not only help them achieve success, but also to understand the core values of their business. What are the key success factors we find frequently in vacation rental business strategies? Read on for our 5 takeaways.

1. All about the Tech

One of our Portuguese customers, Rent4rest, is the perfect example of this model: managing a small business and trialing new tech to manage operations and advertising. The customer profile is common: a multitasking property manager with just under 15 city center vacation rentals and high business volume all year round. Add to the mix a busy family life with two young kids making flexible working time an absolute must. At the core of her current vacation rental business strategy lie innovative tech solutions, Rentals United channel manager for automatic and comprehensive distribution to a Property Management System that allows task creation to external cleaning and check-in staff.

2. Price Perfect

As seen with one of our customers with villas on a Mediterranean island, the search for optimal rates to maximize profit, a.k.a yield management, is needed more than ever. With almost 100 houses distributed to the best listing sites, our customer’s focus will be directed to dynamic nightly rates, discounts and Length of Stay pricing. Understandably, high season is a dynamic time each year but also the opportunity to apply new a strategy, optimize, troubleshoot and learn. We look forward to see the results.

3. Learn, Shape, Improve…

We’re happy to help to the success of one large customer who’s growing rapidly and expanding their operations to major European cities. Their secret? Study the features of successful business models, not only from the vacation rental and hospitality industry but also from modern companies worldwide, and implement them adding a personal touch. The result is a brand that stands out and grows in popularity with the present-day traveller.

4. Market Reach

Having added recently a channel management software to their business, one of our Australian customers, Jindabyne Accommodation Centre, was surprised with the amount of booking received by listing sites unknown to him. They joined Rentals United during low season, open to try automation technology for an inventory of 80+ holiday houses. The process has been both eye-opening and a learning curve. Their focal point is now maximizing distribution to worldwide sites, join industry trade shows and connect with fellow property managers in the country.

5. Finding a Niche

During an insightful conversation with one of our large U.K clients, we were initially surprised to learn that they’ve indefinitely postponed plans to expand their vacation rental business to the rest of Europe. Why? Because when you’re good at what you do, why not be the best? In a rapidly growing home market, they’ve found their perfect niche and it’s carrying them to the top.

What are your thoughts one these vacation rental business strategies? Subscribe and comment below!

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