airbnb Archives - Four Sides Hospitality Consulting | Hotel and Airbnb Consultant | Canada https://www.foursidesconsulting.com/notebook/tag/airbnb/ Improve your reputation and grow your revenues today Thu, 14 Sep 2023 05:48:16 +0000 en-US hourly 1 https://i0.wp.com/www.foursidesconsulting.com/wp-content/uploads/2022/08/cropped-LOGO-LEFT-XL-scaled-1.jpg?fit=32%2C32&ssl=1 airbnb Archives - Four Sides Hospitality Consulting | Hotel and Airbnb Consultant | Canada https://www.foursidesconsulting.com/notebook/tag/airbnb/ 32 32 209425321 How to Increase Your Airbnb Revenues by Optimizing the Listing https://www.foursidesconsulting.com/notebook/increase-airbnb-listing-rank/ Thu, 14 Sep 2023 14:30:00 +0000 https://www.foursidesconsulting.com/?p=982 Read in a browser: How to Increase Your Airbnb Revenues by Optimizing the Listing

Operating an Airbnb can be a challenge when the market is competitive. Learn more about optimizing your listing to rank higher in the search results.

The post How to Increase Your Airbnb Revenues by Optimizing the Listing appeared first on Four Sides Hospitality Consulting | Hotel and Airbnb Consultant | Canada.

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Read in a browser: How to Increase Your Airbnb Revenues by Optimizing the Listing

Introduction

There is an ongoing hospitality revolution right now. People are tending to book a more personalized space to help them tell their story while they travel. People are booking spaces of all sizes and varieties: condos, whole homes, a bedroom, a houseboat, and villas able to accommodate 40 people. You can find these spaces in all corners of the world, from the Klondike Gold Rush town of Dawson City, Yukon, the remote Easter Island, to Kigali, Rwanda. The best part is there is always space for more homes and properties to jump in to be a part of the global trend, not to be excluding from it.

As more people join this revolution and start operating vacation rentals, more people are looking at sites like Airbnb first to choose their stay. Having more people look for a vacation rental does not always mean your property will be full all the time. There is constant competition within the booking sites and locally with the other hotels and accommodation providers.

Listing Optimization

Airbnb uses a metric to track the number of clicks a listing gets from the search results, the Click Through Rate (CTR). It tracks how long a potential guests spends reading each part of the listing. It will then grade each category separately to generate an overall CTR number. The higher the number, the higher your listing will rank in the search results for your area.

This all makes sense when you consider that the properties that have better click through rates because of their pictures and information are more likely to convert those views into reservations. Hosts that maintain a higher guest rating from being good hosts will always be shown higher, so improving the click through rate will help you rank higher than them in the results.

Photos

The first and most important part about photos for the listing is that they must be taken by a professional. Photos are the very first thing that a potential guest will see when browsing the search results and one of the biggest influences in helping a guest make a decision about a space. The cameras in phones have improved quite a bit, but they still pale in comparison to a professional’s work when getting the space properly lit, composed/staged, and the best angles to highlight the best features of the property.

Not only do the photos sell the space to the guests, but Airbnb’s search engine algorithm will scan the photos to check for their quality. In addition to having quality photos, each photo needs to have a caption attached to it. This helps describe the space more fully to the potential guest and adds to the algorithm score.

The first photo is shown as a thumbnail on the search page. It should be the main selling feature of the property to help it stand out from the rest. The pool, hot tub, access to the beach, etc. Less focus on the living spaces that would be featured more with a house sale, and more emphasis on what makes the space special. The next four images appear on the listing’s homepage and should feature the next four best features of the home.

For each photo, make sure they have captions attached and make the captions unique. The different phrasing will help with the algorithm to increase the listing’s score.

Title

While most hoteliers are not spending a lot of time thinking about what to name a hotel room, a lot of care is spent with naming a vacation rental. Cascadia, The Cavell, Dos Balcones. All these names help create an image of the property in the guest’s mind before they click on the listing. It helps market the property when people start talking about their experience. They talk about staying at The Cavell, and people can search for that name in that city. It will help direct future guests your way if the property has a special name, rather than, “Search for the home near Gyro Beach.”

In addition to the name being a marketing tool, the full title adds to the algorithm score. The title can only be 50 characters and of those only 36 are visible in the search result. Keep the name short and mention something of more value to entice the guests to click. Some examples of good titles include, “Luxury 1-bdrm with home theatre and mountain view,” or “Lakefront Retreat: Sauna, Hot Tub, Fishing, Hiking.” Titles like, “Sundance Sweet,” or “Mid-Century Modern Dream Retreat” probably aren’t going to work very well.

Workshop the name and title by creating a list of 5-10 options. Do not feel married to the first idea you come up with, and take a look at the competition in the area. See what others are doing and what you could do better or differently to stand out.

Once you have the name, make sure it is mentioned in the listing and all your marketing materials on Facebook, Instagram, Google Business Profiles, and more. Name recognition will start to happen and people will be searching for your property before looking for just any property to stay in.

Summary Description

The summary description is the part of the listing that really closes the sale. The title and pictures draws the guest in, and then after they click, the summary is the first thing they read. It helps build upon the initial interest from seeing the pictures and helps encourage people to keep reading to then book a stay.

The section is limited to 500 characters, which is not a lot of space to capture everything. The summary should be focused on highlighting the reasons to stay in the space and the amenities included in the building or nearby. If you have any policies that must be enforced, the summary is a good place to remind people that the space is non-smoking, pet-free, limited to a number of guests, etc.

Within the summary, it will be important to structure it so it is readable for both guests and the algorithm. Split the section into two parts. The first can be about the property’s design and location, while the second can be a bullet list of the amenities in the property or nearby. Finish the summary with a call to action to encourage people to continue reading and exploring the listing.

The Space

There are no restrictions on character limits with this section like the summary. It will be important to keep building the interest in the space in order to have people book. If you have a longer description here, the higher you will rank on Airbnb. Of course, the guests will find the information more valuable and are more likely to book at your space as well.

Since all the sections are visible in a separate scroll from the listing, it will be important to not repeat the language too much. Find different ways of describing things, and don’t copy and paste the same chunks of text into the space. Like the summary section, bullet points can be your friend and will be helpful in organizing the description.

Describe the property more thoroughly (i.e. what is located on each floor, what type of beds and mattresses, are there pull-out sofas available) and keep it readable to maintain interest. An easy way to do this is by using separate headings for each area with a short description underneath. This will help keep the reader scrolling and reading more.

Make sure you fill this section with valuable information because listings can be penalized for empty spaces.

Guest Access

The guest access section can describe how the guests will be able to access the property (i.e. a secured doorway from a condo building or a keypad on a separate suite or house). It should also include details on what the guest will have access to if the property is shared. This is especially important if the vacation rental is only a bedroom in a house, but is also important for rentals that share an amenity like a pool.

Other Things to Note

This section is for more information to supplement what has been shared previously. No need to go over the property highlights, but instead make note of anything that would be helpful for someone travelling to your property. General information about your condo/building complex that may not be appealing (i.e. a restaurant/bar that is attached and noisy at night), whether off-street parking is limited, new construction in the area, no elevators available in the building, and so forth.

The section could also include useful tips about where the garbage/recycling areas are located generally, how far away the parking area is, and other general information. The specific information can be saved for the guest guidebook (which you do have, right?)

It is also a useful area to explain the guest expectations while they are staying at the property, including duties upon leaving (throwing garbage away, stripping beds, running dishwasher, etc.) Again, the specifics will be included in the guidebook as guests are generally not going to refer to the original listing to get information once they have checked into the property.

This area does count towards points for the algorithm. At the very least, the cleaning protocols could be mentioned along (cleaned professionally, the products used) to give some peace of mind to the guests that are concerned about it. This is especially true as we all navigate the post-pandemic times and require different levels of cleaning to be done.

Interaction with Guests

This area is for showing the potential guests the steps after they make the booking request (if the instant booking feature is turned off). Do you require additional information to do a check on the guests? Will you be meeting them at the property when they arrive? What is your availability like during their stay, or will there be a different contact person available? The specifics can be provided later, but it will be important to let the guests know what to expect in case there is something they are not comfortable with.

The Neighbourhood

Quite possibly the easiest section to write about is describing the general area and the city the guests will be staying in. The Overview area allows you another opportunity to separate your property from the others by providing information about your close proximity to the special places that the guests will likely venture to. How close are you to the beach/waterfront or ski village? If you are in a city with a lot of live sporting events that people will be travelling to, is it easy to reach those stadiums and arenas? If your property is focused more on the business traveller staying for longterm, they will want to know how far away the property is from the business areas, fitness gyms, grocery stores, etc.

The Getting Around area is self-explanatory. Describe the distance from the airport, from the major highways/interstates that guests may be driving on, and expected cab fares to/from the airport or other port that they will be arriving at. Provide information about public transportation and the closest spots to catch the bus or subway. You could also offer suggestions on different car rental companies or alternative forms of transportation like the e-scooters and bikes that are becoming more common.

For these two areas, readability will be important so use bullet points to express the different options available and subheadings to keep things organized.

Amenities

The amenities should be filled out as much as possible and be accurate. Marking something as being available at the property but then having the guest discover it is not available will lead to negative reviews. The amenities also add to the overall rank for the property.

The basic amenities that should definitely be included with any property to rank higher include:

  • Internet
  • Dedicated Workspace
  • Essentials
  • Hair Dryer
  • Hangers
  • Iron

Only six items and all fairly basic to have available.

Host Profile

The host profile may seem to be the least important part about a listing since it’s at the bottom, but do not underestimate its importance. There are three simple things a host much do in order to get a boost in the search rank and also help sell the listing to a potential guest:

  1. Profile Photo – a professional shot (not selfie) would be preferable and a headshot only, no need for a full body shot. Be friendly and professional, avoid lazy clothing and poses.
  2. Host Profile Description – write about your experiences with hosting, how long you have been a host, and your background in the hospitality field. Did you used to live in the space? Did you create any of the artwork or take the photographs? If the listing is a shared space, talk about your personality and daily schedule so people are aware of when you will be at the property and any noise they may hearing from any children or pets you have.
  3. Verification of Your ID – self-explanatory. Not being verified will not lead to more bookings.

Additional Tips to Rank Higher

The above items are considered the essential steps in helping your listing rank properly and not get buried in the search results. There are a few more things you can do to be ahead of the competition, but also several other things out of your control.

The items out of your control relate to the guest’s history with Airbnb. If the guest has booked in the past, Airbnb will use their historical stays to influence the results that appear to help them rebook through the platform. That may include the types of properties they have stayed in, the amenities they generally prefer, and the location within a city/area. The guest’s history of properties viewed will also help influence the next properties viewed when they are starting to click around on the results. The other major item, which is going to be obvious, is if the person is looking at certain dates and your property is booked, it isn’t going to be shown.

There are other things within your control of the listing, but they come with some warnings and caveats.

Airbnb wants spaces to get booked. It’s going to position the listings that are more accessible and ready to be booked ahead of the others. The items within your control include:

  • Having Instant Book turned on – this may make sense if you are in a very competitive market and have a listing that will not be able to accommodate a large group. With it turned on, you will not be able to review the potential guests to create a perfect match. That creates a bit of a security risk in terms of compatibility with the guests and the listing to ensure the property is safe and to make sure there won’t be any issues for the guests. If you operate a high-end property, it will be best to have this setting turned off. You will be able to cancel the bookings still with the setting turned on, but cancelling too many reservations will decrease your ranking.
  • Minimum Number of Nights set to 1 – depending on the space, this may be okay for you. If it’s a bedroom/suite in your house and you are able to get down to clean it right away, this will make sense. On the other hand, if you have a property located across the city or it’s a large home that takes a lot of time to clean, it will be better to have the minimum set to an appropriate length of time.
  • Same Day Last Minute Bookings – similar to the items above, this only make sense if the space is accessible to you and you are not too concerned about checking the guest’s background.
  • Enable Long-Term Bookings – longterm discounts for weekly or monthly stays may make sense for the slower seasons in your market or if the time required to prepare a space is lengthy. By having a guest stay 7+ nights, you eliminate having to clean the space multiple times in a week. Cutting back on the changeovers saves time which is likely going to be worth the lower money generated. For peak seasons, one strategy would be to have higher rates and then discount from them, so it appears to the guest that they are getting a discount, but in reality they are paying the same rate as everyone else in the market.
  • Self Check-In – this may not be possible for all spaces, but there is a strong preference for travellers to be able to check-in without having to meet someone. Some people like being to walk around the space and explore on their own, others will want to be shown some of the extras without having to look through a guestbook. It could be set to on and allow guests the option of being greeted at the property.
  • Cancellation Policy – having a flexible cancellation policy, where guests can cancel reservations more easily for free, mainly benefits the guest, which is why the listings that offer them are put at a higher ranking. They are more risky for the hosts depending on how popular the market is. If the market tends to have a lot of last minute bookings, it may make sense for you to have it turned on. Most listings use a Strict cancellation policy, so if you choose to not offer a flexible one, it won’t hurt you.
  • No Cancellations – the fewer bookings you cancel instead of the guest, the better. Always select the option about you not being comfortable with the guest to avoid being penalized in the rankings.
  • Response Time – the rule of thumb is to always respond to guests no matter what, and to do it in a timely manner. Within 24 hours is acceptable, but aim for 12 hours. If you have a full-time job, you will want to spend time responding before work or lunch hour for any inquiries that happened overnight. If you aren’t able to respond within 24 hours, it may be time to consider having a co-host to be able to respond more properly.
  • Be Active – the more time you spend on the site tweaking your listing descriptions, rates, calendar, responding to inquiries, the better. The more active a host is, the higher their listings will rank. Aim to sign in at least once per day.
  • Update the Calendar – this is included in the above but deserves a special mention. The more you adjust the calendar, the better. Be sure to close off dates as soon as you can, and conversely open them up with cancellations. Airbnb’s Smart Pricing feature is going to help the guests more than the hosts. If it is your first year with the vacation rental, it will be a helpful guide for you, but keep in mind that the rates suggested will likely be below the market rates by a good margin. There are other products out there that will manage your rates better, including Turbosuite and Wheelhouse. If you manage multiple units, definitely consider looking into those options. They will save you a lot of time. Otherwise, there are a lot of resources online to help you with revenue management for vacation rentals.
  • Be Open to Bookings – a listing that is available year-round is preferable to one only available during a summer season. Aim to have a calendar open for at least six months of the year in order to receive the highest ranking.
  • Conversion Rate Matters – in order to be promoted more in the search results, your listing needs to be booked. If people are viewing your property and not booking, the listing is less likely to be promoted. If you have professional photos done, take the time to tweak your listing description, and offer competitive rates, your listing will get booked.
  • Listing Links and Mentions – it is very important to market your property outside of Airbnb and the other vacation rental sites. A simple website can be done easily through Carrd.co with links back to your Airbnb listing. Social media accounts (Facebook, Instagram) are highly encouraged to showcase the property, video tours, and promote activities in the area. Another thing that should be done is creating a Google Business Profile. It’s one of the main things to help boost a listing in the Google search results if people are looking for reviews of places outside of Airbnb. The best part about it is it is completely free.
  • Reviews – the final thing to mention is make sure the guests that do stay at your property leave reviews. The aim is to get as many 5 stars as possible, of course, so try to resolve as many issues as possible with guests while they are at the property and try to make sure they leave it in a positive way. Because reviews are so valuable to the listing, there is nothing wrong with trying to encourage guests to leave a review every chance you can without annoying them. For example, sending a message after checkout is common, but don’t send multiple messages asking for a review. Leave a note at check-in asking them for an honest review after their stay. Do your best to be a polite and responsible host and the guests will return the favour by leaving positive reviews. The higher the average star reviews, the better.

All the additional tips are optional but strongly encouraged for greater success.

If you have any questions, please contact me, and I will be more than happy to offer some suggestions. If you would like a thorough review of your listing or would like my help in creating it, consulting services are also available.

Sorry! This product is not available for purchase at this time.

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How to Use Turbosuite and SiteMinder to Increase Your Revenue in 2023 https://www.foursidesconsulting.com/notebook/turbosuite-siteminder/ Tue, 18 Jul 2023 10:00:00 +0000 https://www.foursidesconsulting.com/?p=884 Read in a browser: How to Use Turbosuite and SiteMinder to Increase Your Revenue in 2023

An overview of how turbosuite can increase your revenues while using SiteMinder channel manager. turbosuite is a revenue management system.

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Read in a browser: How to Use Turbosuite and SiteMinder to Increase Your Revenue in 2023

I previously wrote about how effective SiteMinder, one of the world’s best channel managers for accommodation providers, is at generating revenue and saving your operation money. Combining SiteMinder with revenue management software can take those revenues to the next level. Coming available later this summer will be one of the best options available on the market turbosuite. turbosuite is working on integrating fully with SiteMinder, but is still a powerful tool to use right now for your hotel, motel, or Airbnb vacation rental.

Before getting into how turbosuite integrates with SiteMinder and what it can do today, let’s first discuss what revenue management software is.

Revenue Management Software

Everyone reading this should understand what revenue management entails when being applied to the accommodation industry. There are five basic components to it: collecting the data about the operation and market; creating segments from the data to help analyze it more thoroughly; building revenue forecasts; planning and taking action; and analyzing the process and results to determine what can be improved upon. Revenue Managers would be doing each of those areas manually or creating simple automatic rules that their PMS would follow when settings rates and restrictions.

Revenue management software simplifies each component by using artificial intelligence to power it. No longer are revenue managers loading Booking.com and copying competitor rates into an Excel spreadsheet, or poring over their PMS data to see which rates are selling when. The software does the work for them. Revenue Managers still oversee each component and analyze the results to ensure everything is working as well as it should, however. Using the tool is not completely hands off and automated.

turbosuite

There are plenty of revenue management systems available and several of them integrate with SiteMinder. They all include the same basic functionality, so what makes turbosuite different?

There are two main differentiators that I can see:

  1. All types of accommodations are analyzed

When I was looking at the different options for revenue management systems, most specialized with one type of accommodation. Hotels, motels, or vacation rentals. Revenue management functions the same for each type at its core, but the big difference is how a market is analyzed. With hotels, there are broad categories based on location (downtown, airport) and type of hotel (boutique, full-service, high-end, etc). Hotels are mainly limited to a few online travel agency sites (OTAs – i.e. Booking.com, Expedia, Trivago). Pulling together the rate information is easier for hotels because you create a competitive set of hotels that match your location, type, and usually only look at a few sites.

Analyzing the market for vacation rentals is more complicated. Instead of a competitive set of 10-15 hotels, you are finding the information for 50-100 (or more) units in your market. Your property is not only competing within the city, but may also be competing within your own building. For a quick example, in Kelowna, there is one condo tower downtown that has around 75 different units listed as a vacation rental. The downtown core may have around 300 units total (not including the hotels) and the city may have 1000 different units. Analyzing the market manually is time intensive and likely inaccurate too.

turbosuite analyzes both types of accommodations effectively. They are pulling in the data from Booking.com, Expedia, and Airbnb. Other revenue management systems may only be looking at Booking.com or Expedia if they focus on hotels, or only Airbnb if they focus on vacation rentals. Having all that data leads to the second point.

2. Analyze the full market, not a comp set

With turbosuite, they analyze the entire market for you. With other revenue management systems, you can be limited to having 10-15 properties that you compete with to compare against. With turbosuite, there is no limit to the properties you are compared to. It compares pricing between the hotels and the vacation rentals, matching up properties that have similar amenities to find the best rate in the market. The amenities can be as large as a pool, fitness centre, or parking included, to as detailed as having a coffee maker or internet at the property. turbosuite offers a comprehensive look at the market with daily updates to show how all your properties compare.

By analyzing the total market, turbosuite is dialled into any sudden shifts in demand. If one hotel sells out, while the others remain mainly empty, it is likely a sign of a large, hosted meeting taking place. But when hundreds of vacation rentals get booked up within a short amount of time, that is signalling a larger, city-wide event. turbosuite will notice that shift and suggest new rates to take advantage of that increase in demand. It won’t be able to determine if that event is the latest Taylor Swift concert being announced, or the city has won the rights to the Super Bowl, but it will set your rates to the appropriate amount.

With vacation rentals, the rate suggestions can also take into account the cleaning fees and adjust those to different levels. Most properties have fixed cleaning fees based on the unit and number of people. It makes sense to treat it as a separate form of revenue that can be adjusted to not only cover the cleaning costs, but also put a little more profit into the pockets.

Forecasting and Reporting

With all this data at their disposal to analyze, turbosuite can provide accurate revenue forecasts for up to a year. It uses the current demand for accommodations and combines it with the historical records to create a forecast that accommodation providers can use to build their overall revenue budgets. turbosuite will be able to determine the spikes in demand, and the dips during shoulder seasons, to be as accurate as possible.

The reports on the system are varied and useful. The revenue forecasts are part of the reporting system, but other reports will help you determine how effective turbosuite is doing for your properties. It will track the valuable metrics of room nights, revenue, and ADR, but also the properties web rankings, how visible the properties are, and the conversion rates on the various sites. Another component of the reporting system is showing you the pickup report for the revenue generated by a set period.

Putting turbosuite Into Action

Turbosuite is excellent at pulling in all the data to analyze, but how do properties change their rates?

Turbosuite makes that part incredibly easy. The main screen shows the calendar for the month with different rates – your base rate, and the ideal competitive rate. Underneath, there are codes to give you the information you need to determine whether a day needs to be acted upon or not. Opening up a day will provide even more detail about how far below/above your rate is from the competition, making manual adjustments to the rate or stay restrictions, and more. At the bottom are the magic buttons to push the new rates out to SiteMinder (or other channel manager) or revert back to the original base rates.

During the demonstration I received, this process was quick and painless. If someone wanted to, they could select the entire month and click the button to adjust the rates automatically, all at once. Of course, it is advisable to look at each day/week more carefully and understand that is happening in the market.


All of the above is just a quick overview of what turbosuite can do for your properties while using the SiteMinder channel manager. There is a lot more to be shown, so if the above is of any interest, I encourage you to reach out to turbosuite and get a demonstration of their software. It does integrate with other channel managers or property management systems, as well.

If you are interested in learning more, please visit their website: turbosuite or fill out the below form that will be sent directly to them.

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Download a Guestbook Template for Your Airbnb or Hotel https://www.foursidesconsulting.com/notebook/hotel-and-airbnb-host-template-package/ Mon, 08 Jun 2020 16:00:00 +0000 http://beta.foursidesconsulting.com/index.php/2020/06/08/hotel-and-airbnb-host-template-package/ Read in a browser: Download a Guestbook Template for Your Airbnb or Hotel

Designed for AirBnB hosts, but also useful for hotel and motel operations, How to Host has developed templates to be used for guidebooks and signages. Beautifully designed and easy to modify via Canva.

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Read in a browser: Download a Guestbook Template for Your Airbnb or Hotel

June is the month that most property owners transition their rentals from long-term rentals to short-term vacation rentals. There is a lot that goes into preparing a property to have it available for summer rentals, from the photos and advertising, to managing the bookings, and finally to checking in the guests and making their stay be exceptional.

There are a lot of resources online to help you with all the various steps. One of the best sites available to help you become a better AirBnB host is How to Host.

They have offer a variety of services: short-term property management in the Okanagan, consulting services from a distance, and, their latest offering, a template package for hosts to have beautifully designed signage and paperwork.

AirBnB Host Bundle

These templates were designed in Canva, a free, online graphic design platform that can be used to make all sorts of images and documents to be shared online. With the templates being made in Canva, adjusting them to your colour palette and changing the images will be simple for everyone to do.

Included in the bundle is a wide assortment of documents that every host will require for their property:

  • guest welcome guidebook
  • house items and cleaning checklists
  • welcome and WiFi signs
  • check out checklist

The guidebook is 22 pages in length, covering all aspects of a guest’s stay at your property. Meet the host, about the home, house rules, emergency info, information about the area, and more.

It is a well-thought-out guidebook and looks gorgeous. Every AirBnB or VRBO host property should have a guidebook like this made available for guests. It will help with the overall presentation of your rental property.

Independent hotels and motels will love using the guidebook as well. It can be easily changed for each type of room you offer or have a generalized one for the property. There would also be the opportunity of having local restaurants and attractions pay for advertising in the guidebook – an additional source of income.

There are a variety of templates available and a short ebook as well.

The post Download a Guestbook Template for Your Airbnb or Hotel appeared first on Four Sides Hospitality Consulting | Hotel and Airbnb Consultant | Canada.

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The Vacation Rental Revolution https://www.foursidesconsulting.com/notebook/the-vacation-rental-revolution/ Wed, 28 Oct 2015 14:00:00 +0000 http://beta.foursidesconsulting.com/index.php/2015/10/28/the-vacation-rental-revolution/ Read in a browser: The Vacation Rental Revolution

Learn more about operating a vacation rental with this free ebook, less than 50 pages long. Get more information about AirBnB, HomeAway, how to market effectively, and more.

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Read in a browser: The Vacation Rental Revolution

 

 

 


 

Combining my experiences in the hospitality industry and the knowledge I have gained in the past few years with running a vacation rental, I decided to create a short ebook to help introduce vacation rentals to everyone else that may be interested. It is written for people with no knowledge of the hospitality industry, keeping it as simple as possible.

The best part is I have decided to make it completely free. Feel free to pass it along to anyone you think may be interested in renting out their own vacation rental, or even just staying in one for their next vacation.

The short introduction to the book is found below, but the book is divided into seven steps:

1. PREPARE

Is operating a vacation rental for you? The challenges ahead and how to make smart decisions.

2. RESEARCH

How many rentals are near you? What types of rentals? How is tourism?

3. SPACE

Time to prepare your space, but with what furnishings? What else do you need to have to impress?

4. PRICE

What prices are other vacation rentals? What is your break even point? What is your longterm plan?

5. EXPENSES

How best to control your expenses? Potential problems and how to avoid them.

6. MARKETING

How will people discover your property? How do you help them return to you in the future?

7. LAUNCH

How to make the launch of your marketing materials go smoothly and what happens after that first reservation arrives.

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There is a global trend happening that is scaring many in the hospitality industry: people are starting to stay away from the large hotels and wanting a more personable stay. The hunt is on for individual experiences, a story that can be shared with their friends and family. People are seeking out two different types of places to stay: boutique hotels and vacation homes. The latter allows for the most personable experience and is exploding in popularity.

It is a hospitality revolution. A great shift in booking trends that is being experienced around the world, all at the same time. People are booking spaces of all sizes and varieties: condos, whole homes, a bedroom, a houseboat, and villas able to accommodate 40 people. You can find these spaces in all corners of the world, from the Klondike Gold Rush town of Dawson City, Yukon, the remote Easter Island, to Kigali, Rwanda. The best part is there is always space for more homes and properties to jump in to be a part of the global trend, not to be excluding from it.

Creating that experience for these travellers is just as rewarding for the owners of the vacation rental. Meeting people from other parts of the world, sharing stories about your individual journeys, and, sharing the city you live in with others can bring a great joy within you that can’t be found elsewhere. One of the most rewarding experiences is telling someone a place you enjoy eating at or visiting, and then having them repeat their positive experience back to you. A journey created by both parties that starts at your own home.

Not only is operating a vacation rental rewarding for your personal enjoyment, it can be financially lucrative. Depending on how large of a space you are willing to share with others, it can pay for your monthly expenses, your monthly mortgage payments, or become a major source of income. With the global trend moving to these smaller spaces, the potential to earn income with a rental property is going to exist for a long time yet. That is a great positive for anyone looking to explore the possibility of operating your own rental property.

There are seven steps that lead towards joining this revolution. The purpose of this small book is to lead you through those steps, giving you some ideas on what to expect, what to prepare for, and to help you decide whether to make the leap to join in. It is not the ultimate guide in how to operate your property. With the variety of properties available to stay in, there are equally as many ways to operate them. The ultimate decision comes down to personal choice and comfort levels.

This book is to help you discover your comfort levels when it involves your property, and lead you to make the best choices possible. So grab a notepad and pen to make some notes, a cup of coffee or tea, and prepare to learn all about the ongoing vacation property revolution.

The post The Vacation Rental Revolution appeared first on Four Sides Hospitality Consulting | Hotel and Airbnb Consultant | Canada.

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