AirDNA reports that, in 2023, the short-term rental market in America tipped in at $64 billion. Even more shockingly, there were more than 2.4 million listings for vacation properties.
Are you prepared to outpace the competition and secure guests in your vacation home?
One of the best ways of maximizing booking rates is with vacation rental listing optimization. These booking strategies in Phoenix, AZ can help you secure more guests, increasing your rental income. Here's how.
Price Rentals Competitively
This means taking into consideration the time of year and what similar rentals are going for in your area. If you're unsure of how to check these prices, it's a great idea to work with a professional vacation property manager. These skilled professionals know how to analyze the current market demand to ensure your property is priced accordingly.
It's also important to analyze the market in the off-season, adjusting prices to reflect similar rentals.
Analyzing the Market Demand
Property managers pay attention to how many active rentals are on the market, along with how often they're booked and what the going rate is. They also need to study how many people are looking for vacation rentals in your area, analyzing trends.
When property managers determine local occupancy rates for similar rentals, they can work to price yours appropriately.
Be an Excellent Host
Whether it's landlords or property managers connecting with prospective guests, always be transparent and easy to talk to. Let guests feel valued and take an interest in their feedback.
Additionally, ask guests to leave reviews following their stay. According to Search Engine Journal, more than 99% of online consumers read reviews, so if someone is looking to book your rental online, always have positive feedback for them to check out.
Have Plenty of Amenities
If you want your vacation rental to stand out among the competition, give them something other hosts don't offer: amenities. These include any of the following, although there is no shortage of what you can offer guests:
- Kitchen
- Washer/Dryer
- Fresh linens and towels
- Free Parking
- WiFi
If you're trying to think of other amenities to include, look online to see what local competitors offer. Do they have a park nearby with a playground for children? Don't hesitate to advertise these features.
Professional Photography
Never underestimate the impact of professional, high-resolution photos and how they can add to the value of your vacation property. WebFX explains that 40% of people polled gravitate toward websites with images and other pictures.
High-quality photos can help prospective guests imagine themselves in your rental home, so be sure to highlight key features. If you have a fireplace or outdoor firepit, for example, include these amenities in the photos.
Secure More Guests With Vacation Rental Listing Optimization
Vacation rental listing optimization is ideal for landlords looking to up the ante with their vacation rentals, working to secure more guests. Follow the vacation rental tips and tricks in this helpful guide and you'll be on your way to fewer vacancies and more rental income.
You can also work with a trusted property manager in Phoenix, AZ, such as PMI Solis Properties. We coordinate bookings so you don't have to, respond to a variety of guest-related inquiries, and manage your guest's entire stay.
Contact our dedicated team today to learn more about what we have to offer.
