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Common Mistakes That Keep Your Vacation Rental Vacant

Common Mistakes That Keep Your Vacation Rental Vacant

You’d think owning a vacation rental would be an easy way to earn some extra cash on your investment, but it’s easier said than done. Although it would be nice to post your property and receive multiple bookings, it often takes a lot more to attract renters. Unfortunately, if the rental remains vacant for weeks or months at a time, your asset quickly becomes a liability. How do you ensure this doesn’t happen? By avoiding common mistakes like these listed below.

High Pricing

Maintaining a vacation rental isn’t cheap. You’re responsible for covering mortgage payments and related housing expenses (i.e., utilities, internet service, maintenance, repairs, etc.). While the hope is to turn a profit from bookings, pricing your vacation rental too high could backfire. Tourists are often looking for a comfortable, convenient, and affordable spot. With so many other accommodations out there, you risk losing business.

How do you price your vacation rental? One suggestion would be to use revenue management tools. These digital platforms collect and organize pricing data on rentals and hotels in your area. Such details can help you set a nightly rate that’s more attractive than other rentals or hotels.

Limited Exposure

Marketing is a significant part of getting your vacation rentals filled. You must learn how to identify and attract the attention of your target audience to increase your chances of getting a reservation. If you’re only advertising locally or using traditional methods like flyers, you’re essentially limiting your opportunities.

There are plenty of sites that allow property owners to list their vacation rentals. Select a platform that invests heavily in marketing its brand to increase exposure. You should also consider other marketing avenues like social media posts and travel blogs.

Poor Descriptions

Sometimes, getting a traveler to book your vacation rental is as simple as providing an accurate description. You have to sell them on the idea of staying on your property for the next few days, weeks, or months. A basic or minimally detailed description leaves little for them to go on, prompting them to look at other options.

What makes your vacation rental an ideal place to stay? Besides the number of bedrooms and bathrooms, what are some features a traveler might need or enjoy? Is there a fully-equipped kitchen, swimming pool, patio, or home theater that makes your property stand out? Is it located near popular tourist attractions or public transportation? If so, you should put these details in the description. Following up with high-quality images of the living space can also make a big difference.

Unresolved Maintenance, Repairs, And Complaints

Another reason vacation rental property owners find it hard to get bookings is overlooking important matters like maintenance, repairs, and guest complaints. It is your responsibility to ensure that your guests have a healthy, safe, and comfortable place to stay while on vacation. If there are issues with the property’s structure, systems, or appliances, you need to resolve them immediately.

If a guest makes a complaint, you want to handle the matter right away. Whether you forgot to supply them with fresh towels and linens or the stove wasn’t working correctly, you want to ensure you do what you can to accommodate your guests. It could mean giving them a discount on their stay, hiring someone to service the stove, or providing a gift card with cash to cover the cost of meals.  Ignoring complaints can lead to negative reviews. Bad reviews deter other travelers from wanting to book your rental.

Vacation rentals can be a lucrative investment. Be that as it may, securing enough reservations to cover the bills and turn a profit each month takes hard work. If your investment property has been sitting on the market vacant for weeks or months at a time, you may need to reassess some things.


Guide created by ShowMojo

By identifying your mistakes and developing a strategy to avoid them in the future, you can boost your potential to attract buyers and boost your return.

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