If you're thinking about buying a vacation rental property, you'll want to create a game plan that maximizes your income potential. This post reveals the cornerstone to short-term rental success so that you can earn more while doing less.
Consider the business model of restaurants. They sell one thing: food.
Sure, they must complement this product with a comfortable atmosphere, reasonable service standards, various retail items, and the like. But at the end of the day, customers come into this business establishment for food.
Restaurants are successful when they’re consistent. If they’re consistent, guests learn to trust them.
Consistency is achieved by following set recipes. Therefore, recipes are the key to a restaurant’s success.
In other words: recipes = consistency = trust = success.
Vacation rentals aren’t much different. Instead of food, though, the core product is an experience.
After years of hosting 5-star experiences on platforms like Airbnb, Vrbo, and Booking.com, we’ve found a trust-building recipe that works:
It’s a deceptively simple. But what’s simple isn’t always easy
We take an extremely thorough approach when setting up new short-term rental properties for success. After all, the onboarding process is one of the unique traits of our management system that allows us to learn more about what makes it special.
Taking the time to understand your short-term rental's unique value is what helps us deliver a 5-star experience. We’re like a culinary artist who not only knows the recipe but can consistently serve it up on a golden platter to every guest that books your home.
This is what we’ve done with every property we’ve managed so far and it's what we intend to do with yours if you decide to work with us.
Every property is unique which means every property needs personal care and attention if it's going to achieve its full potential. So the first thing we do is take the time to understand your property’s quirks, its subtle nuances, its individual needs.
Then we build an experience around it and invite guests to come try it out.
In the beginning, we make some educated assumptions about what we think the best experience will be and who will enjoy that experience most.
Oftentimes, our assumptions are spot on but sometimes they're dead wrong. We learn from this, then course-correct until we find the sweet spot.
In short, we find what works by learning what doesn't.
Once we know what works, we build a system around it and put the people in place to maintain that system.
Lucky for you, this system is already built and ready to go. In fact, it's been evolving over many years and gets better with every property (and every person) we add to it.
This is our recipe. And when we follow it, we establish consistency very quickly.
Consistently outperforming the market...
Consistently creating amazing experiences for guests...
Consistently sending lots of cash to your bank account...
That consistency breeds trust with everyone involved in your short-term rental and, as mentioned above, consistency = trust = success.
Being a Savvy Owner means working smart, not hard. It means using the resources at your disposal with the utmost intelligence and efficiency.
Savvy VRM offers full-service property management and Airbnb management services so you can kick back and experience what it's like to own a vacation rental without dealing with any of the headaches (like filing damage claims).
Partner with a trusted industry professional to make your vacation home dreams come true. With Savvy by your side, you'll not only do less but you'll also earn more—guaranteed!
Call today or schedule a free consultation to see if our property management services are a good fit for you and your short-term rental property.