Step By Step: Increase Vacation Rental Income, Part 1

Next Article: Step By Step Guide - Part 2>>

1. Adjust Base Listing Price

Step 1: Define Basic Stay to be able to lower your listing price on the platforms. Basic Stay should include only amenities that are in line with other host's or hotel's offerings for your area and what will be used by all guests. By lowering your listing price to align with Basic Stay you will get a better ranking on platforms and drive more traffic to your property.

See How in Part 2>>

2. Charge For Time-Saving Conveniences and Premium Amenities

When it comes to time savings amenities like stocked fridge or transport from travel hubs or premium amenities like firewood or local sustainability goods, a separate charge will be needed for them. Offering these on opt-in bases rather than price bundles will be appreciated as they represent unique experiences that help guests feel better about their stay.

3. Add Local, Seasonal and Lifestyle Items

Make extra income by identifying unique items that are specific to your area - like bike rentals for dirt paths or beach chairs/ubmrellas or public transport passes. Make sure to also include items needed to enjoy the season like fruit picking baskets for fall. Finally don't forget to cater to lifestyles, for example family kayak or cribs, or parking in urban spaces. All of these should be separte charges.

4. Avoid Paying for Infrequently Used Items

Every guest is unique and they don't all use the same items. Identify less frequently used items and offer them only on the opt-in bases only. These savings add over time.

5. Invite Guests to Rebook

Invite your guests to come back and avoid paying fees to platforms. Give them great reviews. Now that you know their lifestyle and needs you can repeat the great experience again!