How to Recruit and Retain Holiday Rental Property Owners

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As a property manager, your primary goal is to help the company generate
and maintain a good revenue stream. How you take care of the holiday
rentals – and real estate assets in general – can make a big difference
in recruiting and retaining owners and tenants. The task sounds pretty
straight forward. In many ways, it is a simple task. But in other
aspects, like retaining owners, difficulties and challenges arise.

Below are some practical tips to aid you in recruiting and retaining more owners for your vacation rental portfolio.

Use various vacation rental marketing strategies.

Develop a solid marketing plan that uses various strategies and all
platforms – old and new. By generating a workable and strong channel
marketing campaign, you can spread brand awareness. Utilize print ads
and direct mail to reach out to potential leads as it’s likely they
don’t receive as much mail as before.

Maximizing the use of the internet is one of the best ways to achieve a
successful vacation rental marketing process. Make sure to have an
updated website, particularly the “About Us” page. Your social media
channels should also be active. Generate a monthly newsletter. If you
have the means to do so, pay for online ads.

It’s likewise important to choose strategic associates in your industry
that can help you make smart decisions on how to boost your recruitment
process. Cross-promote with industry influencers. Train your sales team
to be more competent and proactive. Activating various marketing
strategies can immensely help in finding and keeping reliable property
owners and renters.

Find your niche.

When developing a vacation rental marketing plan, it’s important that
you know who your target market is. You can have the best vacation
rental advertising strategy, but if you advertise to the wrong crowd,
your plan will be ineffective. Understand your market, first and
foremost. Look for the online platforms where they normally “hang out.”
Find out where you can reach them. Above all, learn how far you’re able
to bend your marketing plan and budget to attract your target market.

To do all this, you must find your niche and manipulate it to your
advantage. Present products, services and rewards that are unique to
your vacation home rentals and your leads. Put yourself in your
customer’s shoes. Ask yourself why you, as a customer, need to go with
this company and not its competition. Understanding your target market
intimately helps significantly in developing a solid strategy to recruit
and retain them as property owners.

Maintain a responsive communication.

Ease of communication is vital before, during, and after recruitment.
It’s important that potential vacation rental tenants and property
owners feel that they can speak with you whenever they need to. This is
particularly important during the initial dealings. Communication is key
to keep the renters content all through their tenancy. If a problem
comes up, be open, available, and fast to fix it. Open lines of
communication will reassure property renters and owners that their
interests are your main priority.

Expand your portfolio.

Don’t be complacent. You need to constantly think of ways to expand what
you can offer to your clients. Increase your services. Offer referral
rewards. Providing enticements here and there, even small ones can make
you stand out from your competition.

By growing your business, you also grow your portfolio. Finding new ways
to improve and expand your work shows that you’re a progressive
company. This goes a long way in cementing the company’s reputation,
especially to the Millennials. You change with time, and should not get
caught up in old ways. When you can offer newer and better options, you
make it happen.

Manage improvements and changes proactively.

There are lots of ways to improve and change a property for the better.
Stay updated with technology. Unless your property is specifically
designed for renters who want to unplug from the online world, make sure
to have a strong Wi-Fi connection.

Practice diligent housekeeping rules. Cleanliness can make or break your
company. Don’t wait for the renters to complain or write a bad review
about your place. If you find something that needs to be repaired, fix
it. A simple bathroom renovation can have a big positive impact on
vacation rental distribution. When your holiday cottages are well taken
care of, the more likely you’ll increase your ROI.

Being transparent and equitable with the renters and owners will make
them true to their leasing agreement. Caring for the holiday cottages,
marketing them properly, and providing a strong ROI will keep property
owners in your company’s rental program for a long, long time.

BookingPal is a name that can be counted on for increasing the revenue
of the vacation rental industry in a significant manner by assisting in
distribution management, revenue management, PCI certified payment
management, etc through different tools such as revenue management software, inquiry management tool and many more.

About BookingPal:-

BookingPal is a trusted name that can be relied upon for extending the
collection of the vacation-rental centric offerings and thus it can help
in your vacation rental advertising.

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