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8 NEW YEAR’S RESOLUTIONS FOR YOUR VACATION RENTAL IN 2019
In Charleston SC, the beginning of a new year means more than just creating new year’s resolutions. The start of a new year kicks off a 6-month, jam-packed event season, drawing visitors from around the nation and the world. For vacation rental owners, it’s the perfect time to hit the ground running, make any upgrades, changes, or set new goals. Maybe last year didn’t go as well as expected, or maybe you’re ready to reach that next level for your investment home, either way the new year provides the opportunity for improvement. Plan for the success of your vacation rental in the new year by making these 8 resolutions:
1. Set Goals: Setting strategic goals for bookings, ratings, and revenue can be a great way to stay on track and measure the success of your vacation rental throughout the year.
2. Create A Budget: Review last year’s financial numbers including overhead, maintenance, nightly rate, and total revenue. Use that data to calculate projected spend and income for the coming year and build a working budget so you can plan any repair costs, lulls in booking reservations, or that renovation you’ve been waiting to complete.
3. Freshen Up Decor: Take a look around your rental home. Any decor that is stained, faded, chipped, or otherwise damaged should be repaired or replaced to maintain a comfortable and appealing home for guests. It’s also a good time to replace outdated decor to keep up with current design trends.
4. Increase Reservations: Create an online booking profile that shows guests why they should choose to stay at your vacation rental over the competition. A complete booking profile will ultimately help increase reservations – this includes high-quality, professional images, thoughtful descriptions and a few other steps listed here: 9 Tips To Entice Guests To Book With You.
5. Improve Guest Communication: As with any relationship, good communication is key. Providing guests with accurate information prior to their arrival, being available to address needs and answer questions during their visit, and following up at the end of their stay is all part of providing a good experience for guests.
6. Receive 5-Star Reviews: In today’s sharing economy, reviews drive consumer decisions. If your goal is to receive 5-star reviews across the board, there are a few actions you can take to make sure that happens. Find out why 5-Star review matter and how to get them – we know a thing or two when it comes to this.
7. Enjoy Your Own Investment: It’s still YOUR vacation home, and if you don’t live in Charleston full time, we’re sure you will want to visit a few times a year. Block out days on your calendar for a little rest and relaxation at your vacation rental. Just keep in mind, every day that you’re using the property, it’s less revenue from booking reservations.
8. Partner with vacation rental management experts to handle everything else! Managing the day-to-day of a vacation rental can be extensive work, especially on top of your daily work and familial obligations. This year, entrust your Charleston vacation rental to experts who know how to create successful rentals and maximize profits for owners.
As a home owner of a vacation rental, these 8 resolutions may be right in line with your New Year’s goals for your investment, but for Luxury Simplified Retreats, these are steps we take every single day for all of our vacation rentals. Find out why we’re the best at what we do and how we can help you reach your vacation rental goals this year…