Vacation Rental Owners Blog

Have You Tried This? Marketing Tactics You Might Be Missing

Posted: 17 Sep 2013 09:00 AM PDT

Looking for new ways to promote your vacation rental and attract more bookings? Here's a recap of some of the ideas we’ve shared on our blog this past year.

Get the best 'bang for your buck'

In 10 Minute Marketing, our presentation from this year's HomeAway Summit, Markus Nordvik and I highlighted 15 different ideas — some basic, and some a little outside the norm — that we think can deliver medium-to-high impact with minimal time commitment. Some of these ideas are included below, but check out our presentation for the full list…

Opt-in to the direct booking option

At the beginning of this year, I predicted that online transactions were poised to take off. People are increasingly aware of vacation rentals, and the competition between us and traditional accommodations is tight. For travelers, convenience is a big factor; I think owners who opt out of new direct booking options will lose business as a result. Read more about why online transactions are a smart choice…

Check out your offline options

Opportunities for marketing your vacation rental offline will vary by area, but they're still worth looking into — from traditional tactics like business cards and brochures, to networking with other owners or joining your local Chamber of Commerce. People turn to the Internet when planning their trips, but offline marketing is often just another path to an online transaction — particularly if you're marketing to seniors, who don’t necessarily start their searches online.

Create video with less polish, more personality

Video, from "10 Minute Vacation Rental Marketing" by MyVR

Slide from “10 Minute Marketing” by MyVR
(click for larger image)

Creating your own video has been increasingly accessible, and this year it's become even easier to share moments and add personality with your own amateur videos.

Just as professional photographers are indispensable, smartphone-quality video isn’t necessarily the best way to showcase your property.

But it's also become obvious that videos don't need to be slick to make an impact.

With so many different ways to share — like Vine, Instagram, Flickr, and other sites like YouTube — DIY video is a powerful way to bring your vacation rental to life.

Explore other social networks

If you have time and energy to experiment, there are a variety of different social networks for you to test. Vine (owned by Twitter) and Instagram (owned by Facebook), examples mentioned above, are entirely visual networks that bring their own dynamics to social networking.

Google+ is a growing network that could potentially rival giants like Twitter and Facebook — and as a Google product, it plays an increasingly significant role in search results. Each network has its own niche, and it can be worth exploring different ones to see whether they might complement what you're already doing.

Always be looking for new ideas

The vacation rental industry is changing, and so is the way we connect with one another — whether you want to call it marketing or just the way we communicate!

I think we all need to be open to new advice, whether it ultimately works for us or not; it takes patience and experimentation to find the right mix for each vacation rental business. Keep an eye on these five must-read vacation rental blogs to see what’s happening in our industry and learn what works, and what doesn’t, for other owners like you.

Is there anything you do in your marketing that's a little less than typical but works well for you? Share your thoughts in the comments section below.

photo by Matthew Wynn

Starting A Vacation Rental: A Mini Guide

Posted: 04 Sep 2013 09:00 AM PDT

You’ve decided that turning your second home into a vacation rental is the right move for you.

Now what?

Getting your first reservation on the calendar is an exciting time, but — as you probably figured out while you were deciding to rent your property — there are things you need to do before you can throw your doors open.

Dot your i's and cross your t's

Most cities have regulations for vacation rentals — often called "short-term rentals" or detailed under "transient occupancy tax" — so do your research so you know what you're getting into.

Beyond understanding local policies, be aware of any taxes you'll need to collect and file any necessary paperwork.

Once you’ve worked through all the regulatory stuff, make sure you have the right insurance for your property. You never know when natural disaster or an unruly guest might come your way, so make sure you're covered.

Finally, make sure you have your own rental contract and a set of policies and procedures that meet your needs, as well as anything else the bureaucrats or insurance reps may have flagged. Have a lawyer review your documents — or write them — to ensure that what you’ve put together is legal and doesn’t overlook anything.

A space that looks great and is well-equipped

If you like decorating, this step can be a lot of fun! If you're less design inclined, or your property is already essentially prepared for guests, make sure you at least have the basics on hand; some things are "nice to have" but there are essential items that your guests will miss if you forget about them.

For ongoing care and monitoring, now is a good time to decide whether you want to hire a property manager or do it yourself. Depending on your circumstances, there may be a clear solution. Your proximity to the rental property, for example, may make the decision for you; some cities require that a contact person be within quick driving distance to the property in case of emergency.

Even if you need to hire a property manager to be close at hand and available if your guests need anything, there are a wide range of services available — from full-service management to task-specific support. Find out what's available in your area and hire the type of help you need.

Setting your rates

Once you know what your hard expenses are (i.e. property management, insurance, cleaning services) you'll need to determine your rates.

This is something that is intimidating for a lot of owners. Follow our four-step guide to setting your rates so you have a starting point, then monitor how things go and review your rates regularly.

Get the marketing party started

Marketing your vacation rental is an interesting challenge. Some people find that their home — or the location — all but sell themselves from Day One, while others struggle to find the right people to attract.

We write about marketing on this blog a lot; effective marketing is the key way to get more renters with less work and it can take a lot of experimentation just to find tactics that work for you. Here is some advice we think applies to all owners:

If you're new to marketing, familiarize yourself with some of the lingo you'll see as you start reading more about it.
Find out why listing sites alone don't cut it; having your own website can make a measurable difference when it comes to getting and increasing your bookings.
That said, listing sites are an important part of vacation rental marketing. Once you choose a site, make sure you create an eye-catching listing that will attract and hold attention.
You have a website, and you have an awesome listing. Make sure the two are connected! Link to your website from HomeAway, VRBO & FlipKey.

The vacation rental industry is growing — and so is your competition. Listen to advice from other owners and follow news from sites like MyVR to stay on top of what's going on.

What questions do you have about starting a vacation rental? Share them in the comments below!

Tuesday, September 17, 2013