The seasonal rental market is booming.
With many vacation rentals appearing on the market, it has never been more important to know how to stand out and use the competition to grow your business effectively.
Faced with this fierce competition, one can very quickly feel lost.
However, knowing how to identify this competition can give you a big advantage in your neighborhood, city, or region .
And that’s exactly what we’re going to see together in this article…
The first thing to do is to search for similar properties in the geographical area where you are renting:
To do this, you will use large ad sites such as Airbnb or Homelidays. It’s the fastest and most effective way to identify your direct competitors.
Research the most popular vacation rentals (meaning those with the highest ratings and a large number of reviews), and work out what makes them stand out. Learn more about izdavanje stanova novi sad.
Maybe it’s because the property is closer to the beach than the others, maybe it’s because it’s in a better area, maybe it’s just because of the makes the owner present his property in a better light than his competitors, etc.
Once you’ve identified the common characteristics and traits of popular vacation rentals, ask yourself how you might replicate their success.
Also, keep in mind that the competition isn’t limited to vacation rentals located in your neighborhood or city.
Rental companies located in neighboring districts or neighboring towns can also very well attract travelers to their home, for example if their district or town is more interesting or has become more attractive to tourists.
So make sure to identify your competitors by taking a step back from your geographic area.
Determine what tenants want:
Travelers usually have a list of amenities and amenities they want before they even begin their search for vacation rentals.
Including some of these amenities or amenities to your property is an obvious way to boost your profits.
A significant proportion of vacationers are looking for vacation rentals with free WiFi.
Washing machines and dryers are also very popular, as they make life easier for tenants during their stay.
Investing in some more expensive equipment can also lead to attractive returns on investment. Indeed, a jacuzzi or a swimming pool can allow you to increase your price per night by several tens of euros.
A modern kitchen, a garden with space, an air conditioner… are all equipment and facilities that can give you a competitive advantage over other seasonal rental companies.
But meeting the needs and expectations of travelers can sometimes be even simpler:
Making life easier for your tenants during their stay will result in a better experience and therefore better reviews, and thus a competitive advantage.
For example, tenants often need help when it comes to operating the air conditioner, the jacuzzi, or even the washing machine or the dishwasher…
Others feel overwhelmed by technology, such as when there are too many remote controls for the TV or DVD/Blu-ray player.
Others want to be able to park easily.
A smooth stay will result in better reviews on your listing, and will help make your listing stand out.
Optimize your ad:
Your announcement is decisive.
A quality advertisement, which makes tenants want to come and stay with you, can allow you to accumulate reservations.
Conversely, a low-quality listing can cause you to miss a significant number of bookings, and send potential tenants directly to the competition.
The ads that convert the most usually contain a detailed description of the property, house rules, neighborhood information, and an attention-grabbing title.
Photos also play a key role. They can dramatically boost your conversation rate. Airbnb listings with professional photos are twice as likely to lead to a booking!
Knowing your core audience will help you create a booking-generating ad, especially if you’re making sure your property has the most appealing amenities and fixtures to those people.
For example, business travelers may be attracted by a property with a workspace (desk, chair, etc.), as well as a parking space.
Leisure travelers, on the other hand, will be more interested in a property located not far from the various tourist attractions.
Accepting pets (and clearly indicating this on your ad) can allow you to increase your bookings slightly, and make it easier for tenants with pets to find and stay.
More travelers are booking for short periods than ever before, but too many sloppy and poorly thought-out listings are causing many owners to fail to grow their business.
Identifying your competitors, finding out what tenants really want, and optimizing your ad with all of this in mind will allow you to stand out from the crowd and significantly boost your bookings.