How can I make more money with my vacation rental? Is my property earning max profit? Am I doing everything I can to ensure my investment succeeds? If you’ve been asking questions like these, Georgia Cabins for YOU is here to help — with our top 10 ways to increase vacation rental profit for real estate investors like YOU.
Maximizing revenue starts with driving demand for your vacation rental property to secure more reservations. Naturally, with elevated demand, you’ll be able to raise your rates to further increase your earnings. At the end of the day, your primary goals should be to make your property stand out from the competition and rein in more bookings.
If you want to get the most out of your investment property and make sure your rental home draws in max vacation rental income, start here.
1. Create a Strong Marketing Plan
Even if your short-term rental has the best location, features top-of-the-line amenities, and is priced right, it all comes to not without strategic marketing in the vacation rental business. If you thought posting a few times on Facebook or tossing your vacation rental property on a massive online travel listing site (like Airbnb or VRBO) was enough, think again.
Today’s vacation rental market is packed with endless options floating around the online world. So…how do you get your property to the forefront of the pack? Targeted ads and emails, data-driven campaigns, and a strong social media presence are a great start!
Feel like you need a whole team to help market your vacation rental property? Georgia Cabins for YOU brings 20+ years of marketing experience in the vacation rental industry. We know the North Georgia market and can reel in pageviews, calls, and bookings for YOU.
2. Boost Your Online Presence
Boosting your online presence increases the number of people viewing your short-term rental home, which ups your chances to reel in bookings and improve occupancy. What elements affect your online presence? Phenomenal photos are vital, swiftly followed by an optimized description and a high-ranking website.
Whether you snap the photos yourself or hire a professional (recommended), be sure to edit honestly for your rental listing. A well-written description is great, but Google demands you optimize for valuable keywords. Basically, research popular keywords that work with your property and create a compelling piece of content that will sell to a wide range of potential guests.
Homeowners partnered with Georgia Cabins for YOU get 1 complimentary professional photo shoot of their vacation property, expert edits from our Design and Media Coordinator, and a 1,200+ word description by an experienced writer and editor trained in Search Engine Optimization.
3. Promote Things to Do in the Area
Yes, highlighting your investment property’s amenities is absolutely necessary — just don’t forget to hone in on things to do in the area. Guests interested in your vacation rental usually want to know what the area is like before booking. And the less research people have to do on their own, the sooner they will call or click.
Think about things in the area that make your vacation home special. Maybe there’s a mom-and-pop shop or local diner that serves the best pecan pie down the road. Is there a famous attraction or secret hiking trail nearby? What made you choose this property in the first place? Let your potential renters know when advertising!
We post area info and showcase fun and unique things to do in North Georgia on our Georgia Cabins for YOU blog regularly, a great resource for your guests and one less task you need to do.
4. Price Strategically
Raising your nightly rates means more money for you, right? Well…it all depends. If you price too high without proper research, it can put off potential guests. And if you price too low, then you’re essentially poking a hole in your wallet.
How can you adjust rental rates within reason and make bank? Start by taking a hard look at your short-term rental; inspect it thoroughly without bias. Log all items, the overall condition of the property, and any updates you’ve made. Some areas might need home improvements, a whole new interior design, or a even few major renovations, and that’s okay. Or you may just realize your vacation rental home is worth more than you thought!
Either way, it’s a great step in the right direction. And don’t forget to account for unexpected fluctuations, like bad weather or rising gas prices!
Full-time property inspectors with Georgia Cabins for YOU help keep your property at peak performance. Plus, our pricing professionals utilize business intelligence software to harness dynamic pricing and adjust nightly rates within reason to maximize YOUR profit year-round and boost occupancy rates — in peak seasons and off-seasons!
5. Take Care of Outdoor Spaces
The inside is what matters most — but the outside is what guests see first on their getaway. It’s important to take care of the outdoor spaces at your property. After all, first impressions are lasting impressions… If you want repeat renters and positive reviews, be sure to start their vacations with a welcoming exterior at check-in.
Inspect the driveway for cracks and holes, keep up with gardening and mow the lawn in warmer months, regularly clean the outdoor furniture, and stain the decks to spruce up the place. If your property comes with a great view, remember to clear away any overgrown trees. You can also add outdoor amenities, like a hot tub, firepit, swing, grill area, picnic table, and rockers, for a little more pizazz.
Trouble finding a dependable gardener or taking care of the outdoor spaces yourself? Georgia Cabins for YOU employs dedicated maintenance teams as well as personal owner representatives to handle contract work, so you don’t have to lift a finger.
6. Install Keyless Entry
That’s the third time the keys went missing this month! Sound familiar? Managing physical keys can be such a pain. You’re constantly worried the keys will disappear again or someone might duplicate them. Even if you have a lockbox, guests seem to forget to place them back where they belong, which is a whole other story…
Give yourself added peace of mind and make your property more secure with keyless entry. Guests appreciate the added convenience of heading straight to the property to start their vacation with a personalized entry code.
Plus, keyless entry shows you’re with the times and comfortable with today’s technology and automation era, which makes you more trustworthy than the other guys and more likely to snag that reservation. And of course, there’s 0 chance of losing the keys!
Property management with Georgia Cabins for YOU gives you access to the CFY Advantage Plan that includes installation of a smart, data-linked keypad. For more details on exclusive benefits, reach out to Owner Relations at 1.800.580.5524.
7. Reduce Energy Costs
Different guests prefer different temperatures, and cooling and heating your vacation rental can be costly. Not to mention, sometimes renters leave doors or windows open…and no one wants to pay to cool or heat the great outdoors. To help reduce energy costs and keep guests comfortable, here are a few ideas.
- Encourage guests to use the firepit, pellet stove, and/or fireplaces instead of always reaching for the thermostat.
- Use storm coverings outdoors and thermal curtains indoors to help seal spaces and lock in desired temperatures.
- Install a smart thermostat (like an Ecobee or Nest) to make your home more energy efficient.
- Make sure the insulation is of high quality where needed and is up to code so hot and cold air can’t escape willy-nilly.
- Add smart tools that alert the home when doors or windows are left open for too long (great for safety too).
It takes a lot of work and time to make a property energy efficient. With Georgia Cabins for YOU, your vacation rental owner rep takes care of it all so you can relax and save money, too.
8. Provide Extras
FREE stuff — everyone loves it, including your renters! Complimentary items make guests feel extra special, especially on vacation. It shows that you value their business and want to help them make the most of their stay. And guests will remember YOU for it!
What kind of extras should you provide for an optimal guest experience? Think about items you would appreciate when on a getaway. Opt for inexpensive toiletries and essentials, like paper towels, toilet paper, and trash bags. It may not sound like a big deal. But after traveling for hours and finally reaching your property, guests will appreciate a few freebies to start their retreat.
At no charge to our partnered property owners, Georgia Cabins for YOU supplies a starter kit for every stay that’s filled with plenty of essentials, including a coffee pack, a kitchen trash bag, a dishwasher detergent pack, a sponge, a roll of paper towels, and dish soap. Pet-friendly vacation rentals even get waste bags and a pet bowl!
9. Be Available 24/7
Whether emailing, texting, or calling, guests feel more secure with access to 24/7 support. You just never know what may happen during a stay. The air conditioning might go out, or the fridge could stop working. Maybe they just have questions on how to work the TV. Whatever it is, it’s important to be available to help your guests at all times.
Providing round-the-clock guest care shows that you want their stay to go well and will do whatever it takes to make it so. It’s the start of a relationship that can produce repeat guests for years to come. The guest experience truly matters! Even if another property has better amenities, if you provide better quality service, that’s where it counts most.
Our professional call center at Georgia Cabins for YOU ensures your guests are well looked after before, during, and after their stay. Plus, we have 24/7 emergency assistance for issues that require immediate attention, like loss of water or air conditioning.
10. Partner with Georgia Cabins for YOU
To increase your vacation rental income fast, partner with an experienced vacation rental management company that cares about your goals and offers everything you need to succeed and make the most of your investment.
At Georgia Cabins for YOU — a property management company with decades of knowledge and know-how in the vacation rental business — you’ll have entire teams dedicated to ensuring your property is in high demand, attracts more guests than ever, outshines competitors, and reels in the highest profit possible. The best part is you don’t have to do a single thing but expect a great return on investment.
For a commission split as high as 90/10 — one of the lowest management fees in the area! — working with Georgia CFY isn’t work at all…and YOU get paid BIG. It’s a huge decision, we know. Feel free to ask any questions at 1.800.580.5524 or start things off with a complimentary rental estimate. We’re here to help turn your vacation rental into a money-maker!