Your complete checklist to have a successful vacation rental property business

Nov 29, 2019 | 365Villas News

Vacation rental businesses are growing in popularity, with many deciding to embark on their own career in the industry. Whether you already run a rental property business or are thinking of growing one, this article covers the best ways to prepare for a path to success.

Be prepared to communicate with potential renters

Before people go ahead with renting out a holiday property, they like to know as much as possible about it. Of course, this means it’s a great idea for renters to be as informative as possible in their presentation of the property, but you should always be prepared and available to answer any questions ahead of a booking.

Most bookings are made after a bit of back-and-forth between the potential guest and the renter. For a successful holiday property business, it is important to answer every question with patience, answer quickly (considering differing time zones), and be polite.This communication can take place through traditional formats, but more are turning to holiday rental websites and vacation rental software, such as 365Villas, which enables owners and agents to correspond with all their guests from a single place using our industry-leading purpose-built email platform, saving you hours of time spent managing individual communications. Doing so helps establish a good and reliable reputation.

Give properties a personal touch

Tourists and travellers are often making a choice between hotels or a holiday rental, so why make your property look just like a hotel? The unique selling point of a holiday rental is often that it offers authenticity and character. Don’t go over the top, but a few personal touches, such as artwork and comfortable soft furnishings, will make your listing look unique next to others.

Be honest and upfront

Accuracy and disclosure are the keys to finding the right guests for your property and earning a good reputation. This is also a great way to prevent disputes and bad reviews. Keep an up-to-date calendar, either on your own accord or through property management software, to prevent overlapping bookings or ever having to cancel.

Establish some house rules

It is always a good idea to write up some house rules that aim to keep your property in the best condition. Make these house rules accessible to potential renters, this means that they know what they are letting themselves in for ahead of deciding to rent. Those who provide guests with house rules after they have put down a deposit risk renters being unhappy with the house rules and leaving an unfavourable review.

Prepare the property properly

Every successful rental property business owner knows that a property should be properly prepared ahead of a rental. This often involves removing any valuables or personal items, fixing anything that’s broken, cleaning kitchen essentials, towels, and bedding, and emptying bins. It is also helpful to keep the properties stocked with essentials such as toilet rolls and rubbish bags.