Booking Your Short Term Rental in 3 Easy Steps
You’ve discovered you have a GREAT cash cow – a.k.a. a condo! You’ve decided Short Term Rental is the route for you to take to generate a side income. Now what? How do you rent out your space? Do you advertise? Where do you find guests? Here are 3 easy steps for booking your Short Term Rental.
Step 1 – Consult with a Property Manager
Want to be a hands-off owner? A property manager can take over and do all the ‘dirty work’ for you from A-Z, and just send you a check each month. If you are the quintessential ‘do-it-yourselfer’, a property manager can be your personal consultant, giving you support and guidance along the way. They teach you to market, manage and wrap up with each guest. You decide on the property manager’s level of involvement. Whether you want all or none, you WILL want at least a consultation. It’s a big, involved process to get started in, and although it can be very profitable, if done incorrectly Short Term Rental could be a huge expense.
Step 2 – Create a Marketing Management Plan
A Great Marketing Management Plan Includes:
- Prepare the home
- Photograph the home
- Create a Listing
- Connect your listing to listing websites
- Monitor, optimize, and improve your listings as necessary
- Respond to guest inquiries in a timely manner across all marketing platforms
- Supervise and synchronize listing calendars
- Continually adjust listing price dependent on seasons and special events
- Screen potential guests to stay in accommodation
- Provide off-site guest support as needed
- Schedule necessary vendors (i.e. cleaning, repairs, etc.)
- Monthly accounting records (i.e. income, expenses, and profit)
Step 3 – Welcome Your Guest!
Is welcoming your guest really a part of the booking process? YES! If your guest gets a big happy welcome, chances are he will enjoy his stay all the more. A great start promotes a great stay, and a great stay promotes a return guest! Whether you greet your guest personally with pleasant conversation and a home tour, or have a gift basket on the counter and flowers on the table, making sure his first impression is a good one is essential!
Perhaps in ticking off items on our list, you are thinking, ‘just wait one cotton-pickin’ over-worked minute!’. If that’s the case, know that Short Term Rental Manager specializes in taking your property from step 1, to cash in your hand!
Read more abuot why Short Term Rental Manager might be a great shoice in this New York Times article discussing Property Managers.
Easy a pie for us, and no sweat for you! Let’s get started today!