Tips for Operating your Vacation Rental like a Pro
A vacation rental can be a getaway for family and an investment opportunity. Part of that responsibility is ensuring that you run your business effectively. When you own a vacation rental, you want to have good cash flow, proper maintenance, modern furnishings, have a great presentation, minimize risk and provide excellent customer service.
Professional photos are the key to getting eyes on your property. The better the photos the more likely a traveler will click on your listing. Make sure your photos are taken in high resolution. Present all of the features of your property with detailed descriptions including:
Nearby attractions like beaches, museums, lakes and more
List your property on local listing services
Many owners list with national listings sites however most travelers search locally for a rental. A typical search for a Cape May rental will provide a traveler with local rental results. These local results are often found higher on search engines and can result in more visitors to your listing
Maintain your property
Travelers want the best. They expect clean and safe accommodations. Make sure your cleaning service is providing top notch services. Inspect their work to make sure your guests have no surprises when checking in.
Often times an owner can not respond quickly to a maintenance issue. Use professional and reliable maintenance services in the event of an emergency.
Take care of your repeat guests
Your repeat guests are the most important guests you can have. You know them and they know your property. Offer them discounts when feasible to show your gratitude for them choosing your rental year after year. A little discount goes along way. Also offer early and late check times when feasible
Pay your taxes
Rentals are subjected to taxes and permits. Vacation rentals are frequently required to also collect local and state taxes. New Jersey now requires owners to collect taxes. New Jersey rental owners must register with the state to begin collecting taxes. Notify your repeat guests of the tax change.
Price your rental correctly
There are many facets to owning and operating a vacation rental. An owner must know his local market to set rental rates.
Travelers are very price conscious. Price to high and travelers look elsewhere. Check local listings to see what your areas rates are and try to keep your rates in line with these rates.