Setting the right price for your vacation rental ensures your guests are happy and likely to stay for a longer duration while you earn profit. In order to arrive at an optimal price for your vacation rental, it is important to correctly estimate the operating costs and potential profits from the rental. This will give you a better idea of a price that will take care of costs while generating profits.
Here are some tips for striking the right price for your vacation rental:
- Research: Research on the prices of vacation rentals in your area via newspapers, hearsay, online listings and other sources on the internet. While doing so, ensure that the vacation rentals you are studying offer similar amenities and are situated in a location similar to yours.
- List Your Expenses: Tabulate expenses related to your vacation rental such as cost of emergency repairs, cleaning services, landscaping, taxes, utilities, etc. Also consider larger costs like painting, roof repair, replacement of major appliances, cost of furnishings (mattresses, cooking utensils, linens, etc.) and other expenses.
- Lower Your Price: A guest has a higher probability of choosing a vacation rental that offers the same features and amenities like others in the market but at a lower price. So, study what your competitors are offering, compare it to what you have to offer and finalize a price that is slightly lower than the one prevalent in the market.
- Consider The Season: There is usually a peak season for every vacation rental, so take into account what your peak season is when determining a price. To increase profits, you can reduce prices before and after the peak season. Also consider events and holidays in your area when formulating the price.
- Offer Flexibility: Be flexible with your pricing strategy by fixing different rates for weekends and weekdays. Attract more guests during weekends by offering lower prices in the form of offers and discounts. However, when doing so, it is important to analyze the impact of the discount on your profit margin.
- Incentivize Guests: Encourage existing guests to become repeat guests by offering them special incentives when they re-visit. This can be in the form of offering special discounts and offers when they return. Weigh your options and decide whether spending on attracting a new guest or retaining an old one is economically viable.
Hiring a professional team of vacation rental managers can ease the process of pricing your rental. The Rental Management Company is a team of experienced vacation rental managers. The team helps in formulating a profitable pricing strategy and offers services including vacation rental marketing, maintenance, etc. For more details on vacation rental pricing in North Padre Island, visit 14613 S Padre Island Dr, Corpus Christi, TX – 78418 or call at (361) 949 – 9050.
Managing a vacation rental entails a wide plethora of responsibilities such as pricing the rental, addressing inquiries, cleaning, maintenance and much more. An effective vacation rental manager ensures that a vacation rental generates profits and remains relevant amid changing market scenarios.
Listed below are some fundamental roles of a vacation rental manager:
- Safety Of Guests: It is every vacation rental manager’s prime responsibility to ensure the safety of guests. This is done by investing in necessary security measures for the safety and comfort of guests.
- Marketing: They undertake the responsibility of marketing vacation rentals to potential guests on appropriate mediums. They handle the online listings of the rentals, advertize on social media, newspapers and other effective mediums while ensuring compliance with the budget.
- Pricing: Choosing the right price for a vacation rental maximizes occupancy and ensures consistent revenue generation. This is a prime responsibility of vacation rental managers. They assess the current market condition, season and prices offered by competitors to arrive at a suitable price.
- Syncing Calendars: This process prevents double-bookings and is the responsibility of a property manager. A well-synced calendar improves the image of a business and generates positive reviews among guests.
- Communication: There has to be an effective link between the property owner and guests to ensure seamless communication between both parties. A vacation rental manager acts as this link and deals with responding to inquiries by guests, securing reservations and more. Some even use sophisticated software as a means of outsourcing communication in case of many guests.
- Preparation: The rental manager prepares the vacation rental before the arrival of guests. This involves cleaning up the property via a team of professional cleaners, providing guests with access to the rental, greeting them upon arrival, offering welcome gifts and catering to their special requests.
- Coordination With Staff Members: Staff members include cleaning and maintenance staff and reception staff. A vacation rental manager manages the duties and responsibilities of staff members. He informs them of the number of guests staying on the property and important details about them such as their date of arrival and departure, age, special requests and more.
- Reporting: A vacation rental manager keeps the property owner in the loop regarding every detail involved in its management. For example, he informs the property owner about the current earnings, number of bookings, performance in comparison to competitors, etc. Some property managers use software to create shareable reports and save time.
The Rental Management Company offers vacation rental property management services including vacation rental marketing, maintenance, pricing, etc. For more details on vacation rental property management services in North Padre Island, visit 14613 S Padre Island Dr, Corpus Christi, TX – 78418. You can also call at (361) 949 – 9050.
Vacation rentals are meant to feel like a home away from home; so, most of them are equipped with essentials and a few extras to enhance a guest’s stay. Nevertheless, it is advisable to pack strategically for a comfortable and memorable stay. When packing for a vacation rental, you should consider factors such as the demographics of your family/group, length of stay, weather conditions of the place, medical conditions and personal preferences.
Following are some things you must remember to pack when planning for a vacation rental stay:
- Essential Clothing: Pack weather appropriate clothing, bathing suits, comfortable night wear, socks, handkerchiefs, face masks, a robe, a sun hat and comfortable shoes/footwear.
- Kitchen Essentials: You can expect basic kitchen supplies in your vacation rental but it would be good to carry along items that you use frequently in your own kitchen. These include condiments, paper towels, coffee filters, coffee, sugar, favorite snacks, a corkscrew, cereal, aluminum foil, Ziploc bags, paper plates, disposable glasses, crock-pot, salt and pepper, spices, bin bags, dishwashing soap, etc.
- Bathroom Essentials: For the bathroom, pack your favorite soap for a home-like feel or if allergic to common brands, safety pins, shampoo, conditioner, hair color, toothpaste, a body wash, shower cap, your toothbrush, floss and grooming supplies (razor, deodorant, hairdryer, nail cutter, perfume, hair brush, etc.)
- Pet Supplies: If you have a pet and there are no restrictions at the vacation rental for bringing it along, there are a couple of things that you should pack for your furry friend. These include a pet first-aid kit, a fetch toy, pick-up bags, life jacket, leash/harness and a pet water bottle.
- Entertainment And Electronics: Assign a separate bag for electronics such as tablets, streaming devices, a portable mini speaker, charging cables, a selfie stick, water proof pouch, power bank, batteries, DVDs, your gaming system, cameras, etc. Also, be prepared for unpredictable situations like poor weather that may warrant you to stay indoors and entertain yourself. For such situations, pack some books, magazines, board games, card games, and any other form of entertainment supplies to keep you occupied and engaged.
- General Stuff: Some general stuff to pack includes medication, your eye glasses, umbrellas, writing material (note pads and colored pencils/pens), a night light, bed rail (for a baby), cloth hangers, stroller, beach/pool toys, sunscreen, bikes, a huge tote/ beach bag, a headlamp/flashlight, hand sanitizer, disinfecting wipes, disposable plastic gloves, etc.
- Important Documents: Make it a point to carry a separate pouch and pack your driver’s license, health insurance cards, auto insurance cards, rental confirmation information and credit/debit cards.
The Rental Management Company offers well-furnished vacation rentals in Corpus Christi. The vacation rentals are equipped with amenities that are necessary to ensure a comfortable stay for the guests. For more details on things to pack for your stay, call at (361) 949 – 9050.
Vacation rental management greatly improves the experience of owning a vacation rental property. It makes it easier to keep the property well-maintained and helps with generating consistent income. Property management firms provide various services to simplify the process of taking care of properties, managing finances, listing properties, pricing the rentals, managing online bookings, communicating with guests, coordinating the staff, etc.
Various reasons for which vacation rental management is important, are:
- Peace Of Mind: Property management services give the owner immense peace of mind as far as the protection and maintenance of the investment property is concerned. Knowing that the property is in the safe hands of a property manager, an owner can work towards improving other aspects of the business.
- Simplifies Tasks: Outsourcing the management of your vacation rental will help in simplifying tasks such as responding to complaints by guests on time, housekeeping, marketing, booking, etc. This simplifies the experience of owning a vacation rental and frees up time for other projects.
- Enhances Guest Experience: Hiring a vacation rental manager ensures your guests have a memorable experience at your vacation rental, generates positive reviews and garners more bookings in the future. An enhanced guest experience involves timely responses to any issues or emergencies, providing services to make the guests feel special, answering their questions in a detailed manner, etc.
- Effective Marketing: A vacation rental management firm consists of professionals who specialize in marketing vacation rentals by making the property listing impressive and clear for anyone searching for a rental, email marketing, etc.
- Better Response System: Guests in vacation rentals highly appreciate a quick response system which can be challenging for a single person to attain. However, a property management firm consists of a team of professionals and a system for responding to the queries of guests within the shortest time possible.
Vacation rental management is essential from a business and personal point of view. Property management not only contributes towards better services and a better reputation in the market but also increases the productivity of an owner. It facilitates faster and convenient services for guests in addition to making it easier for the owner to keep a tab on the overall performance in terms of guest and profit turnover.
The Rental Management Company offers property management services to vacation rental owners. The range of services includes rent collection, property inspection, property marketing, etc. For more details on the importance of vacation rental management, visit 14613 South Padre Island Drive, Corpus Christi, TX – 78418. You can also call at (361) 949 – 9050.
An impressive listing is imperative for marketing a vacation rental. However, a large number of vacation rental properties are listed on various channels. Thus, it is important to strategize and create a distinctive listing for your vacation rental property to attract guests.
Listed below are some tips for drafting a vacation rental listing:
- A Catchy Title: The headline of your vacation rental listing is pivotal in creating a great first impression. It is the foremost thing that a potential guest focuses on to draw an impression of your property. Use it to highlight unique aspects of your vacation rental but keep it to the point.
- Professional Photos: The quality of photos posted along with a vacation rental listing plays an important role in attracting guests. Make it a point to post an appropriate number of high quality photos highlighting special features of your property. Also, it is recommended to hire a professional photographer for the job.
- Thumbnail Photo: Pay attention to the thumbnail photo on your vacation rental listing as it should have the potential of catching an onlooker’s attention in less than a minute and generating interest in what your property has to offer.
- An Up-To-Date Calendar: The listing should contain the updated information regarding booking prices and availability of rentals. It is advisable to provide information for at least one year and update it as soon as a new booking is made.
- Property Description: The description of properties on a listing should sound professional and be of the right length. An impressive property description is the one that creates an image of what to expect from the vacation rental. It should also contain information about amenities being provided at the rental. Focus on any features that set your property apart from the rest.
- Online Bookings: Travelers prefer vacation rentals that offer the convenience of secure online bookings and payments. Thus, making a mention of the provision for online booking on your listing will garner the interest of numerous travelers.
- Policies: Your listing should be up-to-date with the latest policies of your vacation rental. It would be helpful to provide information regarding check-in and check-out, refund policies, pet policies, smoking, cancellation, house rules and so on.
- Reviews: Including reviews from previous guests in your listing will add to its credibility, throw light on the services provided and give knowledge about the real experience at your vacation rental. Request your guests for reviews or feedback and provide a link to the reviews on your listing.
The Rental Management Company offers property management services for vacation rental owners. The services include advertizing the property, quality control, housekeeping services, etc. The company also offers rental services to vacation property renters. They can check their website for available vacation rentals and make online bookings. For more details on vacation rentals, visit The Rental Management Company, 14613 South Padre Island Drive Corpus Christi, TX – 78418. You can also contact at (361) 949 – 9050.
A few interior and exterior upgrades can immensely contribute towards improving the value of a vacation rental. Depending on your budget you can opt for expensive renovations or simple accessories to spruce up your property. Here are some useful budget friendly tips to help improve the value of a vacation rental.
A tastefully painted vacation rental helps in adding value to its closing price. It gives the impression that the property is well maintained and instantly modernizes it. Vacation rentals that are freshly painted look luxurious and appealing. To be on the safe side, stick to neutral colors and add pops of color with the help of accessories such as colorful throw pillows, seasonal flowers or artwork.
- Get Rid Of Outdated Features
Instantly get rid of any feature that does not resonate with modern trends. It helps to save on expenditure related to repairs and maintenance.
- Upgrade The Bathroom And Kitchen
Potential clients usually judge a vacation rental from the condition of the kitchen and bathroom. It is believed that remodeling these rooms can increase the value of property. If you don’t want to spend a fortune on remodeling the bathroom and kitchen, you can replace the light fixtures, install in-cabinet or under-cabinet lighting, change the tiles, update the backsplash with color, change the shower head, sink and towel rack etc. For the kitchen invest in modern culinary tools like coffee makers, mixers etc.
- Get Professional Cleaning Done
Dirt can be distracting. Getting your vacation rental thoroughly cleaned by professionals lets potential clients focus on the upgrades. It is advisable to hire professional cleaners for the job.
- Let In Natural Light
Use blinds and curtains that do not block natural light from coming in. Light opens up a space and makes it look bright and inviting. An illuminated vacation rental looks clean, beautiful and more expensive.
- Highlight Your Property’s Focal Points
When advertizing your property, highlight the features that stand out. This could be the architectural design or some interior features such as a large window or a chandelier and even some outdoor areas. When staging your rental, be sure to draw your client’s attention to features that make your property look special.
- A Personal Touch
Lend a personal touch to your vacation rental to improve its value. Incorporate everyday items and special touches such as DVD’s, board games, books, a welcome basket etc. These items will make a renter look forward to the stay in your rental at whatever price.
Add some glory to the outdoor space of your vacation rental with the help of local plants, trees, bushes and unique rocks. A little bit of effort towards landscaping property goes a long way in adding dimension to it and increasing its value. Invest in sidewalk lighting to add charm to your property during evenings.
The Rental Management Company provides a wide range of vacation rental homes in Corpus Christi. For more information, call us at (361) 949 – 9050 or visit 14613 South Padre Island Drive, Corpus Christi, TX 78418.
If you are visiting Corpus Christi, TX for a short time and need to find an economical housing option, then you should consider booking a vacation rental. As compared to a hotel room, a vacation rental offers more comfort, convenience and space. People going on vacations prefer a vacation rental as it offers the ease of home.
Vacation rentals offer a number of fantastic benefits to the travelers such as:
- Cost effective
- Comfort similar to own home
- Cuts cost of lodging
- Laundry facility
- Equipped kitchen to cook food
- More space
- All the required amenities
- Wi-Fi connection
- Access to entertainment facilities
- Customer services
- Luxurious baths
- Private facilities
- Multiple bedrooms
Though vacation rentals offer the best abode to the tourists looking for a home away from home feel; however, finding the one that suits your requirements and fits your budget can be difficult. As they are popular you should research for a vacation rental well in advance of your holiday plans.
Here are some tips that help you choose a vacation rental:
- Access Your Needs: Before you start looking for a suitable vacation rental, you should access your needs and decide the amenities are essential for you. You should make a list of what you can go without and what are your dire needs. This will help you short-list the most appropriate rentals.
- Set A Budget: Make sure you have a pre-decided budget that will help you narrow down your search. Make sure you stick to your budget and avoid over spending, as you will also need to spend on other things such as groceries, etc.
- Make Bookings In Advance: If you are visiting the city for some special event or festival, then make sure you book the vacation rentals in advance, as these rentals are in more demand as compared to hotels and thus, often get booked quickly.
- Know The Details About The Vacation Rental: Being a vacation rental guest, you must have the necessary information about the property, who owns it, what amenities are available, authenticate the property, and check out the property owner’s website.
- Review The Contract: Make sure you review the contract and read all the clauses before signing. Check out the cleaning options and other information and ask all rules in advance.