HOW TO MAKE ONE’S HOLIDAY RENTAL PROPERTY MORE SUCCESSFUL AND PROFITABLE
Turning one’s holiday house into a vacation rental can be an extremely profitable enterprise if done in the right way. With travel restrictions slowly but surely lifting and school holidays coming up, holiday rentals are becoming more and more popular among tourists and travelers within Australia. Rentals are increasingly being preferred to hotels these days, as they not only offer a unique experience to travelers but are also considered as a safer option during the pandemic. Turning one’s holiday house into a rental can generate a high level of income, especially if one enlists the help of a holiday rental management company.
Here are the top strategies that can be employed to make one’s holiday rental stand out and become more profitable:
- Give it a unique touch: People nowadays are travelling to experience unusual and one of a kind adventures. Hotels and inns are usually very generic, with little character or personality. One can attract travellers from all parts of the country if the rental property offers a unique story or experience. This unique touch can be anything, from grand amenities like having one’s own private beach to a simple but distinctive selling point such as being a cosy and comfortable ‘home away from home. In the end, it is the one thing that people will remember and cherish from the vacation.
- Holiday rental management: Enlisting the help of a holiday rental management company can go a long way in ensuring an easy and fuss-free experience for the property owners. These services generally include photographing and listing the property, advertising, managing enquiries, bookings and reservations, and arranging for cleaners and general maintenance of the property. Enlisting the help of experienced businesses can go a long way in improving efficiency.
- Ensure low risk of direct contact: Vacation rentals potentially present less risk than hotels packed with tourists from all corners of the country. The perfect holiday rental will involve close to zero contact with other people. This can be done by allowing only one group of guests to book the property at one time and providing amenities such as no-contact check-in.
- Give it local flavour and include special experiences: Millennials have transformed the travel industry. People are no longer travelling just to relax in a luxurious but generic destination. More importance is given to each destination’s local food, culture, and authentic and unique experiences. Opportunities to interact with locals and experience their food, customs, and lifestyle tend to draw more tourists.
- Provide a full kitchen: One factor that makes vacation rentals safer than hotels is that they include a kitchen and other amenities where the guests don’t have to contact others. It is, therefore, crucial to making sure that the kitchen on the rental property is clean and fully stocked.
- Practise sustainability: It is always a good idea in today’s world to ensure that all services and amenities provided at the rental property are as sustainable and environment-friendly as possible. Ecotourism has become very popular nowadays, and tourists, especially the younger generation, show a preference for properties that promote and practice sustainable living.
- Provide flexibility: Another important advantage of holiday rentals over hotels is that they are more budget-friendly and preferable when travelling in a large family or group. It is thus vital that the property has some flexibility in terms of prices and discounts based on the length of stay, number of guests, etc.
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